Real Estate Tycoon as commonly known is a person who has succeeded in business or industry and has become very rich and powerful. One of the world’s most commonly known real estate tycoons is no other than the commonly known Stephen Michael Ross. He is an American real estate developer, philanthropist, and one of the most popular sports team owners. In today’s era, he has been majorly known for his designation as the majority owner and chairman of the famous company, The Related Companies. This global real estate development firm was founded by Ross in 1972.
The Related Companies is located in various high-barrier-to-entry cities like – Boston, Florida, London, and Abu Dhabi. It is an American real estate firm that is primarily located in New York City in the United States of America. The Related Companies is best known for developing the Deutsche Bank Center as well as the Hudson Yards redevelopment project. Other than this, Ross is also the principal owner of the Miami Dolphins sports team as well as the Hard rock stadium. He is also the initial investor of the Drone racing League.
Stephen Ross was born on the 10th of May in the year 1940. He was born in the city of Detroit Michigan. He was raised in a Jewish family. Ross acquired formal education from – the University of Florida, the University of Michigan, Wayne State University, and New York University. Other than his formal education as an executive and a chairman, he is also seen as a person with a golden heart.
The University of Michigan was renamed Ross school of business in 2004 in honor of Mr. Stephen Ross and his immense contribution of $100 million for a new business school building. In all, he became a major benefactor of his alma mater, the University of Michigan with lifetime contributions of $478 million to the University, he is the largest donor in the university’s history.
His early career had begun as a tax attorney at Coopers and Lybrand in Detroit. In the real estate subsidiary of Laird inc, had received the position of assistant Vice President and moved to New York. Then, he worked in the corporate finance department of Bears Sterns. After a clash with his seniors in 1972, he was fired with a leaf of $10,000 from his mother. He used his federal tax knowledge to organise deals for wealthy tac investors. He promoted the construction of federally subsidised affordable housing. He was glorified from his very first year. In his first year, he acquired a major earning of $150,000. Subsequently, he was arranging more complicated transactions.
In his political career, he was a major supporter and contributor to the 2012 presidential campaign of Mitt Romney. Ross hosted a major campaign of a fundraiser for Donal Trump’s 2020 presidential campaign at his Hamptons home on the 9th of August. Ross is also a major investor in Ladder capital which is a shadow bank. Around the time when Trump had become the president, Ross attempted to take over the Ladder bank. He was quite unsuccessful in the purchase but at this time he did manage to buy an $80 million stake. The Ladder capital lent $275 million to President Trump in mortgages between $110 million and $150 million is still owed, of which $50 million is from the 2012 mortgage on Trump tower.
From his first marriage, Ross had two children. In April 2021, he divorced his second wife, Kara Ross, after 18 years of marriage. He has 2 step-children with Kara. Ross resides in Southampton, New York. Besides his home in the Deutsche bank enter located in Manhattan, he owns an 11,000 square-foot oceanfront mansion in Palm Breeze namely, The Reef.
Until now, Ross has received innumerable awards for his immense contribution to his business, civic as well as philanthropic activities. He was named the third most powerful person in New York real estate, by the New York Observer. Multi Family property executive of the year by, commercial property news. Housing person of the year, by the national housing conference.
Today, The Real Estate developed as a small startup by Ross years ago is one of the largest and most renowned real estate in the world. The company includes more than 3,000 professionals. He holds a net worth of $7.6 billion as of 2020 and holds the designation of a successful man who is looked at as a role model for future generations.
By: Saanvi Bhadekar
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