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American Tower
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American Tower

How American Tower turned cell phone towers into one of the most profitable real estate businesses on the planet.

American Tower owns one hundred forty thousand cell towers disguised as church steeples, water towers, and rooftop structures. They lease roof space to carriers that must transmit calls, texts, and data. The company leases space to Verizon, AT&T, and T-Mobile at eight hundred dollars monthly per carrier. The economics are remarkable. Land cost six thousand dollars. Construction cost one hundred thousand dollars. Maintenance costs two thousand annually. After three years, every dollar collected becomes profit. After thirty years, the tower generated one point eight million in revenue against one hundred eighteen thousand in expenses. A five-carrier tower generates five thousand dollars monthly.

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