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This article directly stems from the research process for our American single family office database. Our list of U.S. single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity, and renewables.
Dan Gilbert American investor & billionaire
Gilbert amassed his fortune thanks to the success of Rock Financial and Quicken Loans, which he founded in 1985 and 1999 respectively. Quicken Loans now operates under the umbrella of Rocket Companies, one of the largest mortgage lenders in the United States with a mortgage volume of over $350 billion in 2020. Dan has an estimated net worth of $26 billion, making him the 73rd richest person in the world according to Forbes. In this article we will examine if a Dan Gilbert family office manages his wealth.
Gilbert family manages wealth through Rocket Companies and Rockbridge Growth Equity
Due to the outstanding success of Quicken Loans, the Detroit-based company went public as Rocket Companies in August 2022 at a whopping $36bn valuation, making it one of the largest retail mortgage lenders in the country. Gilbert owned 95% of Rocket’s shares at the time of the IPO, and has since sold $1.8bn worth of shares, with reports suggesting he currently owns 79% of the company’s shares. It therefore acts as the Dan Gilbert family office. In 2016, Gilbert used Rocket Companies to co-found an innovative online sneaker sales platform, which was most recently valued at $3.8bn. Gilbert is a founding partner of Rockbridge Growth Equity, and the firm has invested in numerous different companies across multiple markets including sports, technology, financial services and entertainment. His wife, Jennifer, also serves on the board of directors of Rocket Companies and plays a prominent role in the Gilbert Family Foundation. The Gilbert family office belongs to the list of top family offices in Detroit.
Dan Gilbert` philanthropic activities
The Gilbert Family Foundation was established in 2015, with the aim of supporting efforts to treat neurofibromatosis and transform Detroit. Similarly, the Rocket Companies’ philanthropic arm, the Rocket Community Fund, has invested more than $200 million in tackling chronic unemployment and supporting young entrepreneurs. Dan’s sports interests are reflected in his ownership of the Cleveland Cavaliers, Utah Grizzlies and Cleveland Charge.
Picture source: Kostiantyn Li
Last Updated on December 5, 2024
