What is Stephen Ross’ net worth in 2021?
See how much the billionaire National Football League’s Miami Dolphins owner Ross is worth, how he made his money and acquired his sports empire.
Stephen Ross is an American businessman and sports team owner who is chairman and majority owner of The Related Companies, a global real estate development firm.
Ross’ Related Companies is famously known for the development of the Time Warner Center, which happens to be where Ross lives and works.
How Did Stephen Ross Make His Money?
Ross’ financial success path started with him working as a tax attorney at Coopers & Lybrand in Detroit.
A few years later, he relocated to New York City and was made as an assistant vice president in the real estate subsidiary of Laird Inc. He worked in the corporate finance department of Bear Stearns.
However, his time at the company came to an end in 1972 after he was fired for clashing with his superior.
His next move after being sack was to live off $10,000 his mother lent him. He put his federal tax law knowledge into good use, organizing deals for rich investors.
This helped them shelter income with generous incentives permitted by the federal government to promote the construction of federally subsidized affordable housing.
This new path of earning proved profitable to Ross. He earned $150,000 in just his first year and moved on to organizing more complicated transactions.
From his earnings, he delved into the real estate business. His highlight in the buildings was on high-quality architecture and engineering.
No sooner he built a credible reputation in the American real estate arena.
Focusing on the northeastern part of the United States and Florida, Ross built apartments, condominiums, retail, office parks, and mixed-use developments.
1972 was the year Ross founded the company that would turn his fortune around for the better, a real estate development company, The Related Companies.
Its headquarter is located in New York City with offices and real estate developments in Chicago, San Francisco, South Florida, Los Angeles, Boston, Las Vegas, Shanghai, and Abu Dhabi.
With over 2,000 people in its employment line, Related has real estate assets worth over $15 billion.
It is the largest owner of luxury residential rental properties in New York and manages over $1 billion of equity capital on benefits of sovereign wealth funds, public pension plans, multi-managers, endowments, and family offices.
Acquisition of Miami Dolphins
In an attempt to purchase the Miami Dolphins franchise of the National Football League (NFL), Ross first bought 50% of the Dolphin franchise.
The deal also included the Dolphin Stadium, and surrounding land from former owner Wayne Huizenga for $550 million in February 2008.
A year later, he bought another 45% of the franchise to bring the total payment for the deal to $1.1 billion.
Ross became the NFL’s Miami Dolphins owner and the stadium with a 95% stake.
As 2020, his NFL franchise is valued to be worth about $2.9 billion.
What is Stephen Ross’ Net Worth?
As of 2021, Stephen Ross net worth is a whopping $7.2 billion.
His major income source comes from his real estate business, although he makes substantial earnings from his sports franchise.
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Stephen Ross’ Business Empire
Stephen Ross’s business cuts across the real estate to sports enterprise.
Ross owns The Related Companies and a majority stake in the Miami Dolphins.
He also owns the RSE Ventures, a private investment firm for sports and entertainment, media and marketing, food and lifestyle, and technology.
RSE Ventures also owns other companies as subsidiaries such as the Drone Racing League, VaynerMedia, and Relevant.
He also co-owns the Kangaroo Media.
Stephen Ross Profile
|Net Worth:||$7.2 Billion|
|Full Name:||Stephen M. Ross|
|Born:||May 10, 1940, Detroit, MI, U.S.|
|Age:||80 years old|
|Education:||Bachelor of Arts/Science, University of Michigan; |
Doctor of Jurisprudence, Wayne State University;
Master of Laws, New York University
|Source of Wealth:||Real estate, sports franchise|
Stephen Ross’ net worth is evidence of his veritable path to financial success and his business endeavors in the sports scene.
Ross has come a long way from a tax attorney to a billionaire sports and real estate investor.
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