Dan Gilbert Net Worth
Dan Gilbert Net Worth: Dan Gilbert is an American self-made entrepreneur who has a net worth of $4.2 billion dollars. Dan Gilbert earned his fortune as the founder and CEO of Quicken Loans. He also famously is owner of the NBA's Cleveland Cavaliers and the American Hockey League team the Lake Erie Monsters. Quicken Loans was originally called Rock Financial. Gilbert launched the company with his brother and some childhood friends. The company's name was changed after it was purchased by Intuit, Inc, the company that also created Quicken and TurboTax. Gilbert continues to serve as company Chairman. Daniel Gilbert was born on January 17, 1962, in Detroit, Michigan. He started his career back in 1985, when Gilbert saw a huge opportunity in the growing mortgage origination industry. Seizing this opportunity, Gilbert set up a small mortgage company called Rock Financial, along with Ron Berman, Lindsay Gross and his younger brother, Gary Gilbert. The company eventually turned out to be a huge success. In 1999, Gilbert sold Rock Financial to Intuit for $532 million. Three years later, Gilbert purchased his company back for $64 million. Today Quicken Loans is nation's largest online lender, as it is anticipated to issue $80 billion in loans this year alone. In 2010, Quicken Loans moved its headquarters and 1,700 of its employees to downtown Detroit to help revitalize the city. In addition, Gilbert has made several other major investments in the bankrupt city of Detroit, including his recent $600 million purchase of Greektown Casino and Hotel. Gilbert is also the majority owner of the NBA's Cleveland Cavaliers, the AHL's Lake Erie Monsters, the AFL's Cleveland Gladiators, as well as the NBA Development League's Canton Charge. Furthermore, he serves as operator of the Quicken Loans Arena in Cleveland, Ohio and chairman of Rock Gaming, which opened its first Horseshoe Casino in downtown Cleveland in May 2012.