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Stephen M. Ross Net Worth, Biography & Wiki 2017
Stephen M. Ross is a Detroit, Michigan-born American real estate developer, sports team owner as well as a noted philanthropist. Born on 10 May 1940, Stephen is widely known for being included in the richest 1% people of the world with his net worth counting in billions. One of the greatest names in real estate of America, Stephen was born to Jewish parents.
A globally known businessman who has managed to make a fortune in real estate business, how rich is Stephen Ross as of now? In 2015, Stephen has been counting his net worth at an impressive amount of $7 billion. Needless to say, his major source of income is his involvement in the real estate business via The Related Companies, as well as his ownership of the NFL team the Miami Dolphins, both of which are very successful in the USA.
Stephen M. Ross Net Worth $7 Billion
Raised in Detroit, Stephen graduated from Miami Beach Senior High School before earning his bachelor’s degree in accounting from the University of Michigan Business School. Later on, he received a Juris Doctorate from Wayne State School of Law and again earned an LL.M. degree from New York University’s School of Law. Stephen was inspired by his uncle, Max Fisher who was a very successful businessman in the USA. Initially, Stephen took a job as a tax Attorney for Coopers & Lybrand, but he quit this job to step into the real estate business in his own.
In 1972, Stephen founded The Related Companies which worked developing real estate, with its headquarters in New York City. The company went on to succeed in the market given Stephen’s focus on quality architecture and engineering. As of now, it functions in many major cities of USA as well as in Shanghai and Abu Dhabi. It is the largest company in New York which owns luxury residential rental properties in the area. This successful business venture has been adding millions to Stephen’s net worth each year making him a billionaire as of now.
Apart from real estate, owning the Miami Dolphins has also helped Stephen pile up his money. He bought 50% of the Miami Dolphins franchise in 2008, and again in 2009 he bought 45% more making himself the owner of 95% of the whole franchise as of now. This NFL team was bought in a total deal of $1.1 billion and has been earning him millions of dollars each year. In addition to this, Ross is also a co-founder of RSE Ventures and is a co-owner of Kangaroo Media/FanVision.
Stephen is also a noted philanthropist and works for the development of education in America. He donated $100 million to the University of Michigan and also has committed to donate $200 million more. For his exceptional donations and his contribution towards the university, he was honored as the university’s business school was renamed the Ross School of Business. Among many other good works, Stephen has also been serving as a trustee of Lincoln Center, New York Presbyterian Hospital and Juvenile Diabetes Research Foundation International.
As for his personal life, 75 years old Ross is a married man who, along with his wife Kara Gaffney(m. 2003) is a parent to their four children. The family resides in New York and owns a mansion in Palm Beach. For now, Ross has been enjoying his life as a successful businessman who has managed to become one of the most powerful persons in New York real estate. He now spends his days as one of the richest people in the whole world complemented by his present net worth of $7 billion.