Dan Gilbert
Dan Gilbert
Daniel "Dan" Gilbert is an American businessman, entrepeneur, sports franchise owner, and casino owner/operator. On the business front, he best known for being the chairman and founder of Quicken Loans Inc. , the owner of Fathead, and a partner in a consortium that will own and operate casinos in Cleveland and Cincinnati.
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Greater Cleveland Congregations Request Meeting with Dan Gilbert Over Quicken Loans Renovations
NPR - 2 days
A coalition of Cleveland faith groups is requesting a meeting with the owner of the Cleveland Cavaliers about the proposed $140 million renovation of Quicken Loans Arena. The Cavaliers are putting up half the money for renovations at The Q. Greater Cleveland Congregations has been vocal in its opposition to the plan to use public money for the other half. Now, they're requesting a meeting with Dan Gilbert to see if some funds can be sent back into Cleveland's neighborhoods. Donna Weinberger, organizer with Greater Cleveland Congregations, says the group is asking Gilbert for $35 million toward building mental health centers to help people who might otherwise be incarcerated. “Everybody agrees this is a good idea, but when we start talking about where the money is going to come from, they kind of shrug their shoulders. We’re calling for one on the east side and one on the west side of Cleveland.” Weinberger adds that Greater Cleveland Congregations is not anti-Cavs nor anti-Quicken
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NPR article
Dan Gilbert: Microsoft coming to downtown Detroit - Detroit Free Press
Google News - 19 days
Detroit Free Press Dan Gilbert: Microsoft coming to downtown Detroit Detroit Free Press UPDATE: Billionaire businessman Dan Gilbert announced this morning that Microsoft is moving its Southfield office to downtown Detroit. The company is said to have been considering a move to Detroit for months. Microsoft will take about 40,000 square ... Microsoft moving Michigan offices to DetroitMLive.com Microsoft Moving Michigan Tech Center to Downtown DetroitXconomy Microsoft To Move Michigan Employees To Detroit In 2018Benzinga The Seattle Times -Crain's Detroit Business -WDIV Detroit -CBS Local all 30 news articles »
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Google News article
LeBron's Cavaliers Lost An NBA-High $40 Million Last Season Despite Championship
Forbes - 26 days
As James pushes his boss to spend more to upgrade the roster, consider this: Dan Gilbert spent a nearly unprecedented $185 million on players last season, leading to the fifth-biggest operating loss in NBA history, by Forbes' estimation.
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Forbes article
Cavs slump sparks drama for NBA champions
Yahoo News - 27 days
The NBA champion Cleveland Cavaliers once again find themselves involved in a mid-season soap opera and coach Tyronn Lue, trying to get his slumping squad back on track, could do without it. "It makes it tough and I hate it," Lue said of media reports of tension between superstar LeBron James and club management. ESPN.com's report on Thursday claiming James and Cavs owner Dan Gilbert were at odds over payroll spending followed reports that the team had nixed a New York Knicks proposal to send Carmelo Anthony to Cleveland in a trade.
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Yahoo News article
Quicken Loans, the New Mortgage Machine
NYTimes - about 1 month
The mortgage lender, like the big banks before it, has come under regulatory scrutiny. Its feisty founder, Dan Gilbert, is unfazed.
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NYTimes article
You vs. Future You; Or Why We're Bad At Predicting Our Own Happiness
NPR - 6 months
Researcher Dan Gilbert says that human beings are the only animals that think about the future. But we don't always do the best job at predicting what will make us happy — or even who we will be.
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NPR article
NBA Cavaliers take hefty tax hit: reports
Yahoo News - 8 months
The champion Cleveland Cavaliers will pay a league-high $54 million luxury tax for last season for going over salary cap limits on their title-team payroll, ESPN said Sunday. Owner Dan Gilbert will have to send the league a check for salary overruns in the championship season that brought Cleveland its first sports champion since 1964. Seven teams in all exceeded the $84.7 million tax threshold for last season, the Cavaliers most of all, with a whopping $160 million payroll, Cleveland.com reported.
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Yahoo News article
Warren Buffett and Dan Gilbert Unite in Bid to Acquire Yahoo
NYTimes - 9 months
The unusual presence of Mr. Gilbert and Mr. Buffett in the bidding suggest just how far Yahoo and its advisers have cast their net to find potential buyers.
Article Link:
NYTimes article
Exclusive: Warren Buffett, Quicken Loans founder in Yahoo bid - sources
Yahoo News - 9 months
Berkshire Hathaway Inc Chairman Warren Buffett is backing a consortium vying for Yahoo Inc's internet assets that includes Quicken Loans Inc founder Dan Gilbert, people familiar with the matter said on Friday. While there is no certainty that the consortium will prevail in the auction, the interest of Buffett and Gilbert is a boost for the Sunnyvale, California-based company, which has been surpassed in recent years by rivals such as Alphabet Inc in the race for internet users and advertising dollars. The consortium's participation in the sale process also represents a challenge to U.S. telecommunications carrier Verizon Communications Inc, whose deal to acquire AOL last year for $4.4 billion has made it a favorite to prevail in its bid for Yahoo's assets among industry analysts.
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Yahoo News article
NBA team owners propose $1 billion plan to attract U.S. pro soccer to Detroit
Yahoo News - 10 months
Two professional basketball team owners on Wednesday announced a $1 billion investment plan to attract a Major League Soccer franchise to downtown Detroit in a move they said would help revitalize the city. Dan Gilbert, the owner of the National Basketball Association's Cleveland Cavaliers, and Tom Gores, who owns the Detroit Pistons, proposed a 20,000-seat stadium on 15-acres that includes the site of the halted Wayne County jail, according to a spokeswoman for Gilbert and a statement. The proposal also includes relocating the current Wayne County Jail, a circuit court and a county juvenile detention facility.
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Yahoo News article
Cavaliers reveal 3 new jerseys after team's owner trolls with fakes - Fox News
Google News - over 1 year
Fox News Cavaliers reveal 3 new jerseys after team's owner trolls with fakes Fox News Cleveland Cavaliers owner Dan Gilbert answers questions during a news conference on the day before the NBA basketball team's opening game Wednesday, Oct. 29, 2014, in Cleveland. (AP Photo/Mark Duncan) AP Photo. A few minutes before the news of ... Bulls are 25-1 to win NBA titleChicago Sun-Times Will the Cavaliers' offense improve in Year 2 of LeBron's return?Sports Illustrated Are the Cavaliers the NBA's most watchable team?FOXSports.com NBCSports.com -cleveland.com -SB Nation -NBA.com all 396 news articles »
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Google News article
Online Lenders Deluge Small Business
Wall Street Journal - over 1 year
By Peter Rudegeair and James Sterngold Online lenders were supposed to remake the market for financing small businesses. Instead, they are tripping over each other to find new customers.Backed by billions of dollars in venture capital, self-styled “marketplace lenders” have sprouted up by the hundreds and are pouring into the market pioneered by startups like OnDeck Capital Inc., Kabbage Inc. and Rapid Advance. They offer quick access to cash—often with just a few clicks through a website—for companies that in many cases have been left aside by mainstream banks. The problem is it can be hard to find enough new customers for all that credit: Only 18% of small-business-loan applicants looked to an online lender for financing in the first half of 2014, according to a recent Federal Reserve survey.As a result, some customers signing up for loans are instantly deluged with phone calls and spam from rival lenders hoping to piggyback on the borrower and sign them up for more credit.The issue h ...
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Wall Street Journal article
No Good Deed Goes Unpunished
Huffington Post - almost 2 years
As a parent, I find myself often telling my children that their benevolence will reap rewards. When they act in caring and helpful ways, especially for those in need, they will feel good about what they have done and others will appreciate it, too. Sadly, we know this is not always the case. Beneficial actions can be met with outright hostility, and trying to explain that sad fact to our children is difficult. Three recent events are textbook examples of the well-known aphorism, "No good deed goes unpunished." Each of these good deeds was muddled by political issues leading to criticism when praise was the more appropriate response. Consider these three cases and how the disapproval was misplaced. Immediately following the April earthquake in Nepal, Israel acted quickly in sending a contingent of doctors and search-and-rescue specialists to the region. Israel is often one of the first nations to dispatch aid to disaster affected areas around the globe. While Israel's response team ...
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Huffington Post article
James Dolan Email Casts Adam Silver in New Light
Huffington Post Sports - about 2 years
To the surprise of no one, New York Knicks inheritor James L. Dolan proved himself a bully and a jerk this week when he sent an email to a lifelong Knicks fan calling him a miserable person and an "alcoholic maybe." To further call his own intelligence into question, Dolan then told the fan (addressed as Mr. Bierman) to "start rooting for the Nets because the Knicks don't want you." While the actions taken by Dolan come as no shock, the lack of action taken by NBA Commissioner Adam Silver creates a state of bewilderment. Firstly, someone should remind Dolan that rooting for the Nets is a statistical upgrade over his woeful Knickerbockers. In fact, rooting for any other team would be an upgrade, as Dolan's Knicks currently have the worst record in the entire Basketball Association. Perhaps Dolan was trying to do Mr. Bierman a favor. More likely, Dolan was just proving himself thoughtless and shortsighted, two traits that come as no revelation to any resident of the five borough ...
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Huffington Post Sports article
Did LeBron James Make the Right Call in Returning to the Cleveland Cavaliers?
Huffington Post Sports - over 2 years
This question originally appeared on Quora: Did LeBron James make the right call in returning to the Cleveland Cavaliers? Answer by Christopher Patrick, Played Power Forward in 7th Grade Yes. Super Teams, like the Heat were, have an expiration date due to the high contracts of the core players and the number of miles on your ring-chasing veteran filler. It is tough to build a super team through free agency and have it last over multiple free agencies. I can't think of an example of where this has worked over a decade. I think LeBron James recognized that if he stayed with the Heat, every couple years, they would have to reload their roster with new star free agents or find new vets who are looking to chase rings at the minimum - so there was an impermanence to the roster that LeBron would always be playing with. I think LeBron is looking at the next 8 to 10 years and thinking that he wants to be on a team that is built to last. It's fortunate that Cavs are his original team ...
Article Link:
Huffington Post Sports article
Chris Grant Fired: Cleveland Cavaliers Let Go Of General Manager
The Huffington Post - about 3 years
INDEPENDENCE, Ohio (AP) — The flailing Cleveland Cavaliers have fired general manager Chris Grant. With the Cavs sliding further toward the bottom in another disappointing season, owner Dan Gilbert decided to make the move a day after Cleveland was beaten Wednesday night by an injury-ravaged Los Angeles Lakers team that finished the game with just five players. Grant's tenure will be known for not being able to rebuild the Cavs fast enough despite having a slew of first-round draft picks, including two No. 1 overall selections. Read More...
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The Huffington Post article
These Billionaires Are Offering $1 Billion For the Perfect March Madness Bracket
Huffington Post - about 3 years
The stakes for March Madness just got a little bit higher. Quicken Loans, founded by Cleveland Cavaliers owner Dan Gilbert, and Berkshire Hathaway, run by Warren Buffett, are partnering to give away $1 billion to the lucky -- or clairvoyant -- person who can correctly predict the 2014 Men's NCAA Tournament bracket. Though the prize is high, the feat is near impossible: the contest rules for the Billion Dollar Bracket Challenge note that the odds of winning the grand prize are one in 4,294,967,296. Last year, USA Today said the odds of filling out a perfect bracket (just using math, no basketball knowledge) were even higher: 1 in 9,223,372,036,854,775,808. They said the the odds were closer to 1 in 128 billion if you do know about the sport. In the Quicken Loans contest, the grand prize winner would receive 40 annual installments of $25 million or could opt for a lump sum of $500 million. There's also $2 million at stake for creators of less-than-perfect brackets: 20 first prize w ...
Article Link:
Huffington Post article
17 Reasons That Small Businesses In Detroit Are Thriving
Huffington Post - about 3 years
When it comes to shopping local, there might be nowhere that cares quite like Detroit. Each new coffee shop is heralded as a major player in the city's redevelopment. A contest that picks a new business to open each year is watched with the enthusiasm of fans at a World Series game. The months before a restaurant opens are filled with restless anticipation and constant updates (which reminds us: Detroit Institute of Bagels opened this week!). You can't go a day without hearing rave reviews of a new pop-up shop or eatery. And this weekend, on what's become nationally known as Small Business Saturday, shopping is turning into a full-on celebration of Motor City pride. Over at D:hive, they've launched Shop Detroit. Visitors to the downtown welcome center on Woodward Avenue between Grand River and Gratiot Avenue can load up on tokens for the elevated downtown transportation system the People Mover and take free shuttles to 10 local shopping locations. According to Crain's Detroit Bu ...
Article Link:
Huffington Post article
Detroit Billionaire Goes On Real Estate Buying Binge
NPR - over 3 years
Despite the bankruptcy, parts of downtown Detroit are going gangbusters, and that's in large part because of one guy. Online mortgage mogul Dan Gilbert has bought up 30 buildings, and counting. He's filling those buildings — some of which used to be vacant — with new businesses. But some residents are wary of his expanding reach in the city. » E-Mail This     » Add to Del.icio.us
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NPR article
Learn about memorable moments in the evolution of Dan Gilbert
  • 2016
    Age 54
    In September 2016, Gilbert donated $5 million to Wayne State University Law School, representing the largest donation in the law school’s history.
    More Details Hide Details Gilbert resides in Franklin, Michigan with his wife Jennifer Gilbert and their five children. His wife serves on the Gilbert Family Neurofibromatosis Institute at Children's National Medical Center in Washington, D.C. and also serves on the boards of ORT America and the Israeli and Overseas Committee of the Jewish Federation of Metropolitan Detroit. Gilbert's companies have achieved the following accolades under his watch:
    Also in 2016, Gilbert's Lake Erie (now Cleveland) Monsters won the Calder Cup, giving Gilbert two championships within eight days.
    More Details Hide Details In 2011, Gilbert purchased the NBADL's New Mexico Thunderbirds, and moved them to Canton, Ohio (about an hour drive south of Cleveland) renaming them the Canton Charge, and making them the Cavaliers' new D-League affiliate. Gilbert received national attention 8 July 2010, when NBA basketball superstar and northeast Ohio native LeBron James announced that he was leaving the Cavaliers for the Miami Heat on a highly criticized ESPN television special dubbed The Decision. Following the special, Gilbert published an open letter in Comic Sans font (dubbed nationally as "The Letter" as a counterpoint to The Decision) to Cleveland Cavaliers fans in which he strongly criticized how James made his announcement. July 12, 2010, NBA Commissioner David Stern fined Gilbert $100,000 for his remarks in the letter. Gilbert has since regretted the open letter, which he wrote in 45 minutes when emotions were running high, and it was taken down from the team website after a few weeks but remained widely available on the Internet. Though some members of the media criticized Gilbert for this letter, many Cleveland Cavaliers fans embraced him for it and even offered to pay the fine. Gilbert instead insisted on donating the money to charity.
  • 2015
    Age 53
    In 2015, Gilbert donated $750,000 to the presidential candidacy of Chris Christie.
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  • 2012
    Age 50
    In September 2012, Gilbert and his wife Jennifer joined The Giving Pledge, committing to give half of their wealth to philanthropy.
    More Details Hide Details Initiated by Warren Buffett and Bill Gates in 2010, the Giving Pledge is a campaign to encourage the wealthiest people in the world to make a commitment to give most of their wealth to philanthropic causes. Gilbert's eldest son was born with Neurofibromatosis. Gilbert established two Neurofibromatosis research clinics at the Children's National Medical Center (CNMC) in Washington, D.C. and at the Dana Children’s Hospital at the Sourasky Medical Center in Tel Aviv, Israel. Gilbert also serves on the boards of the Children’s Tumor Foundation, the Cleveland Clinic, and the Children’s Hospital Foundation (an affiliate of CNMC); and is the vice chairman of the not-for-profit M-1 RAIL initiative which is dedicated to promoting light-rail transportation in downtown Detroit.
    In 2012, Rock Ventures (the umbrella entity formed to provide operational coordination, guidance and integration of Gilbert’s portfolio of companies, investments and real estate) purchased the former Federal Reserve Bank of Chicago Detroit Branch Building, One Woodward Avenue, 1201 Woodward (Kresge Building), and five smaller buildings on Woodward Avenue and Broadway Street, totaling 630,000 square feet of commercial space in downtown Detroit. In 2013, Rock Ventures purchased the 1001 Woodward office tower, several smaller buildings in the downtown area and announced, along with The Downtown Detroit Partnership and the Detroit Economic Growth Group, a placemaking plan for revitalizing Detroit's urban core.
    More Details Hide Details Rock Ventures' downtown Detroit real estate investments include more than 90 properties (buildings and/or store fronts) totaling 15 million square feet. In 2015, he purchased Book Tower in Detroit, MI. In September 2013, Gilbert was named co-chair of the Blight Removal Task Force. The group, appointed by the Obama Administration, published a detailed plan in May 2014 to remove all blighted structures and lots in the City of Detroit. Dan Gilbert is famous, or rather, infamous for the 300+ surveillance camera he has installed throughout Downtown Detroit and, in at least 2 publicized occasions has been caught installing camera equipment on buildings owned by other people without obtaining permission. http://motorcitymuckraker.com/2015/04/26/dan-gilberts-surveillance-teams-messes-with-wrong-detroit-institution/ http://motorcitymuckraker.com/2015/02/23/dan-gilberts-team-trespasses-installs-cameras-on-others-downtown-buildings-without-permission/.
  • 2011
    Age 49
    In 2011, Gilbert's Rock Ventures group purchased several buildings in downtown Detroit, including the historic Madison Theatre Building, Chase Tower and Two Detroit Center (parking garage), Dime Building (renamed Chrysler House), First National Building and three smaller buildings on Woodward Avenue.
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  • 2010
    Age 48
    Quicken Loans moved its headquarters and 1,700 of its team members to downtown Detroit in August 2010, where Gilbert and the company are helping lead a revitalization of Detroit’s urban core.
    More Details Hide Details Today, Gilbert-owned businesses employ more than 14,000 people in the city.
  • 2009
    Age 47
    In November 2009, Gilbert and a group of partners successfully backed a statewide referendum to bring casino gaming to Ohio’s four largest cities.
    More Details Hide Details Through a joint venture with Caesars Entertainment Corporation, the groups operate urban-based casinos in both Cleveland and Cincinnati. The first of the casinos, Horseshoe Cleveland, opened in May 2012. In 2013, Rock Ventures, the umbrella entity for Gilbert's investments and real estate holdings, announced it had formed Athens Acquisition LLC, an affiliate of Rock Gaming, and acquired the majority interest in Greektown Superholdings Inc., owner of the Greektown Casino-Hotel located in downtown Detroit.
  • 2007
    Age 45
    Gilbert launched Bizdom in 2007.
    More Details Hide Details Today, this non-profit promotes both tech and brick-and-mortar entrepreneurship in Detroit and Cleveland by supporting on-the-ground service providers, as well as leveraging its connections with Quicken Loans and the Rock Ventures Family of Companies to accelerate the growth and development of small businesses.
  • 2005
    Age 43
    Gilbert became majority owner of the Cleveland Cavaliers in March 2005 and undertook a complete overhaul of the front office, coaching staff, player personnel and game presentation.
    More Details Hide Details Under his tenure, the Cavs won four Central Division championships (2009, 2010, 2015, and 2016), three Eastern Conference championships (2007, 2015, 2016), and one NBA championship (2016) which ended the 52-year Cleveland sports curse.
  • 2002
    Age 40
    In 2002, he led a small group of private investors that purchased Quicken Loans and its affiliated national title company, Title Source, Inc., from Intuit and continues to serve as the chairman of Quicken Loans, Inc.
    More Details Hide Details In 2010, Quicken Loans moved its headquarters and 1,700 of its employees to downtown Detroit. After moving all 3,600 Michigan-based team members into Detroit’s urban core by the end of 2010, the company has since created thousands of new jobs and now has approximately 14,200 team members in downtown Detroit and a total of 24,000 nationwide. In 2007, Gilbert bought the dormant Utah Grizzlies American Hockey League franchise, moved it to Cleveland and renamed it the Lake Erie Monsters. In early 2012, Gilbert became the new owner of the Arena Football League's Cleveland Gladiators.
  • 1985
    Age 23
    Gilbert, recognizing that the real potential was in originating mortgages and not in selling homes, founded Rock Financial in 1985, along with Ron Berman, his younger brother Gary Gilbert, and his friend Lindsay Gross.
    More Details Hide Details The company grew into one of the largest independent mortgage lenders in the country and in the late 1990s, launched its Internet strategy and quickly positioned itself as the fastest-growing direct mortgage lender on the Internet. In 2000, software maker Intuit Inc. purchased Rock Financial. It renamed the national web operation Quicken Loans and grew substantially as the leading provider of direct-to-consumer home loans on the Internet, offering mortgages in all 50 states. Gilbert remained at the company as CEO.
  • 1962
    Age 0
    Born on January 17, 1962.
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