[10] He is a graduate of Pontiac Central High School, and enrolled at the University of Michigan just prior to the United States' entry into World War II.

He enlisted in the U.S. Air Force during his freshman year, served with the Thirteenth Air Force as a mapmaker in the Pacific Theater during the war, and returned under the GI Bill to the University of Michigan to continue his studies after the end of World War II.

[14] His developments such as the Mall at Short Hills in New Jersey continue to be ranked among the most profitable shopping centers in the country as of 2007.

In October 2003, his real estate firm Taubman Centers survived a hostile takeover bid by the Simon Property Group and Westfield America.

[16] Taubman bought ailing British auction house Sotheby's in 1983, acting as a white knight when the company was threatened by an unwelcome hostile takeover by Marshall Cogan and Stephen Swid of General Felt.

[19] Taubman lead a group that bought the Irvine Company in 1977 and sold his stake to Donald Bren in 1983.

[13] In the early 2000s, a four-year investigation into alleged price-fixing masterminded by Taubman between Sotheby's and chairman Sir Anthony Tennant's rival auction house Christie's led to a confession by Sotheby's CEO Diana Brooks of an elaborate price fixing scheme with her counterpart at Christie's, Christopher Davidge.

[22] In a plea bargain arrangement, prosecutors offered to keep Brooks out of prison if she agreed to implicate Taubman.

[42] Taubman was chairman of the National Realty Committee (NRC) (later The Real Estate Roundtable) (RER) during 1967–1977.

He was also a member of the Urban Land Institute, and held positions on the Board of Governors, the Steering Committee for Shopping Centers, and the Commercial and Retail Development Council.