Stephen M. Ross (born May 10, 1940) is a real estate developer, philanthropist and owner of the American sports team. Ross is the chairman and majority owner of the Related Company, a global real estate development company he founded in 1972. The most well-known to develop Time Warner Center, where Ross lives and works, and the Hudson Yards Climbing Project. According to Forbes magazine, Ross has a net worth of $ 12 billion. Ross is also the main owner of the Miami Dolphins and Hard Rock Stadium.
Ross is a major contributor to his alma mater, the University of Michigan; with a lifetime contribution of $ 378 million to the university, he is the largest donor in university history. According to the Chronicle of Philanthropy Ross's high prize is behind only people from US billionaires, New York City Mayor Michael Bloomberg, whose $ 350 million donation to Johns Hopkins University increases his total lifetime to $ 1.1 billion. The University of Michigan changed the name of its business school, Ross School of Business, in Ross's honor in 2004, after Ross made a $ 100 million prize to fund a new business school building. In September 2013, Ross donated $ 200 million to the University ($ 100 million for Business School and $ 100 million for Michigan athletics), the largest single prize in the university's history; The University of Michigan announced plans to rename the university's athletic campus in his honor. Ross also gave $ 5 million to an athletic department's academic center and $ 1 million to endow a professorship in real estate at Ross School of Business.
Video Stephen M. Ross
Early life and education
Ross grew up in a Jewish family in Detroit, where he went to Mumford High School, and then graduated from Miami Beach High School. He attended the University of Florida and then transferred to the University of Michigan Business School, where he obtained a bachelor's degree in accounting in 1962. He subsequently received a Juris Doctor from Wayne State School of Law in 1965 and LL.M. Degree in Taxation from New York University Law School in 1966. Subsequent titles were financed by loans from his uncle, businessman Max Fisher, whom Ross called, "the most important role model and inspiration for me in life".
Maps Stephen M. Ross
Careers
Ross started his career as a tax attorney at Coopers & amp; Lybrand in Detroit. In 1968, he moved to New York City and accepted a position as assistant vice president at Laird Inc.'s real estate subsidiary. and then worked in the company's financial department of Bear Stearns. In 1972, he left work and lived out the $ 10,000 loaned to him by his mother, he used his knowledge of federal tax law to arrange transactions for wealthy investors that enabled them to protect their income with the generous incentives provided by the federal government to promote the construction of federal housing affordable subsidized. He was very successful, earning $ 150,000 in his first year, and he immediately arranged a more complicated deal. Using his income along with his new experience, he began to develop his own real estate and with an emphasis on architecture and high-quality techniques, he quickly gained a solid reputation in the American real estate arena. With a focus in northeastern United States and Florida, it develops apartments, condominiums, retail, office parks, and a wide range of uses. In 1972, he founded The Related Companies, a real estate development company.
Related Companies
Related is a fully integrated and diversified real estate development company. Its business includes development, acquisition, management, finance, marketing and sales. Headquartered in New York City, Related has offices and real estate development in Boston, Chicago, Los Angeles, Las Vegas, San Francisco, South Florida, Abu Dhabi, and Shanghai. The company directly employs about 2,000 people. The portfolio of existing corporate real estate assets, valued at more than $ 15 billion, consists of a wide range of use, housing, retail, office, trade fairs, and affordable properties in what the company calls the "premier barrier-to-entry market". "Associated is the largest owner of luxury residential rental properties in New York with more than 5,000 units in its portfolio and has developed various usage projects such as Time Warner Center in New York and CityPlace in West Palm Beach and is currently developing a 26-acre Hudson Project Yard at the western side of Manhattan, which also manages about $ 1.5 billion of equity capital on behalf of state wealth funds, public pension plans, multi-managers, endowments, Taft Hartley plans and family offices.
Associate also has Equinox Fitness Clubs and a partnership interest in Union Square Events, catering, culture, sports, and business events Union Square Hospitality Group Danny Meyer.
Miami Dolphins
In February 2008, Ross bought 50 percent of the Miami Dolphin franchise, Dolphin Stadium and the surrounding land of the owner of Wayne Huizenga for $ 550 million, with an agreement to later become a common partner of the Dolphin management. On January 20, 2009, Ross closed the purchase of an additional 45% of the team from Wayne Huizenga. The total value of the deal is $ 1.1 billion. This means Ross is now the owner of 95% of both franchises and stadiums. Ross announced his intention to keep Bill Parcells as director of football operations. Parcells later withdrew from his position just before the 2010 NFL season. Since buying Dolphins, Ross has brought Gloria Estefan, Marc Anthony, Venus Williams, and Serena Williams, as minority owners of the team. In 2013, Ross is pushing for a multi-million dollar public fund from the state of Florida and Miami-Dade taxpayers to help renovate the Sun Life Stadium, the Dolphins home field. After these failed attempts at the Florida legislature, a team spokesman said that Ross did not intend to move the team but that under the future owners of Dolphins' future in the dingy Miami area. Although Ross says he intends to keep the Dolphins "in town", there is speculation that the team may be trying to move from Miami to a nearby local like Palm Beach.
RSE Ventures
RSE Ventures is a private investment company focused on sports and entertainment, media and marketing, food and lifestyle, and technology. RSE Ventures was jointly established in 2012 by Ross and Matt Higgins (entrepreneurs), former Executive Vice President of New York Jets and current Vice President of the Miami Dolphins. RSE builds, owns and operates various companies, including Drone Racing League, Thuzio, VaynerMedia, and Relevent.
Kangaroo Media/FanVision
Ross and Carl Peterson own Kangaroo Media, the producer of FanVision.
Civil and philanthropic activities
Ross is co-chair of a University of Michigan fundraising campaign, completed in May 2007.
In 2004, Ross made the biggest contribution (at the time) to the University of Michigan by donating $ 100 million to the school. The university changed its business school name, Ross School of Business in his honor. On September 12, 2013, it was announced that Ross had awarded an additional $ 200 million to the University, to be distributed equally between the Ross School of Business and the University's athletic department. This replaces Charlie Munger's 2013 contribution of $ 115 million as the biggest single prize in University history. On September 20, 2017, Ross donated an additional 50 million to the University of Michigan, the majority of which will support career development programs for students, innovative action-based learning experiences , and resources to attract and develop junior faculty.
He was on the NYC2012 executive committee, the New York initiative to bring the Summer Olympics to New York City in 2012, which failed when London won. Ross is chairman of Equinox Holdings, and chairman emeritus of the New York Real Estate Council (REBNY), the city's leading real estate trade association. As a member of the supervisory board of the Solomon R. Guggenheim Foundation, Ross is involved in planning the massive renovation of the iconic building of Frank Lloyd Wright and other new museums. She is the guardian of New York Presbyterian Hospital, Urban Land Institute, NY Chapter Juvenile Diabetes Research Foundation International, Levin Institute and is director of the Jackie Robinson Foundation and World Resources Institute. He also serves on the Executive Committee and is the guardian of Lincoln Center.
Ross is a major supporter and contributor of the 2012 presidential campaign from Mitt Romney.
He worked on the Board for Cornell Tech Campus, rebuilding Roosevelt Island for $ 2B including Joan & Irwin Jacobs Technion-Cornell Institute, a partnership between Cornell University and Technion - Israel Institute of Technology which, when completed, will house several thousand graduate students, hundreds of faculty, and high-tech business incubators.
On March 27, 2017, Ross gave the only "no" vote in the 31-1 "yes" decision of the NFL owner at the request of the Oakland Raiders for approval of a move to Las Vegas starting the 2019 season. Ross said he has no personal problems with the Raiders owner Mark Davis hopes the franchise is good, but does not think the Raiders do everything to live in Oakland, and also that having 3 teams move in just 15 months (Rams and Chargers both moved to Los Angeles) is not good for players or fans. Ross also stated before his Dolphins played Chargers in their first home game since moving to Los Angeles that he did not believe that Chargers owner Dean Spanos made the best effort to stay in San Diego, making him a popular figure with San Brigadier Diego's fan base.
Ross invested in a partnership called RERI donated to the University of Michigan in 2003. RERI earned his own assessment for a donation of $ 32,935,000. The University sold the remaining interest donated by Ross in December 2005 for $ 1.94 million, below the value of $ 6.5 million. The IRS denied a $ 33 million tax reduction and imposed a multi-million dollar penalty in July 2017. The old correspondent Ross Alan Katz and business associate Harold Levine were instrumental in this partnership. They are currently in criminal investigation for a tax plan.
Awards and awards
Over the years, Ross has received many awards for his business, citizenship, and philanthropic activities. He was named the Third Most Powerful Person in New York Real Estate by New York Observers, Multi-Family Property Executive of the Year by Commercial Property News, and People of the Year's Best Housing by National Housing Conference. He also received the Honoris National Building Museum Award, Harry B. Helmsley's Starring New Yorker Award and Jack D. Weiler Award from UJA. Crain's New York named Ross one of the 100 Most Influential Leaders in Business and she is recognized by NYC & amp; Companies with their Leadership in Tourism Awards.
Personal life
Ross and his wife Kara Ross (nÃÆ' Â © e Gaffney), a businessman and jewelry designer, lived in New York with two daughters from a previous marriage. Ross has two children of his own from his first marriage. The Rosses also has an 11,000 square foot beach house in Palm Beach.
References
External links
- Stephen M. Ross - Chairman of the Board
- Anatomy of the deal: Inside Related/Outstanding Financing of Hudson Yards
- Images for Stephen M. Ross, google.com
Source of the article : Wikipedia
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