Stephen Michael Ross was born in Detroit, Michigan, on December 10, 1940. He grew up in a simple home. He spent two years at the University of Florida before moving on to the University of Michigan. In 1962, he got a Bachelor of Business Administration degree there.
Ross kept going to college and got a Juris Doctor from Wayne State University in 1965 and a Master of Laws in Taxation from the New York University School of Law the next year.
Stephen Ross Net Worth in 2024
According to Celebrity Net Worth, Stephen Ross has a net worth of $10 billion and builds homes, gives money to charity, and owns sports teams. Stephen Ross runs the Related Companies and owns most of the company. This is the group that built the Deutsche Bank Center and Hudson Yards.
Ross owns the NFL’s Miami Dolphins and Hard Rock Stadium, among many other things. He also gives a lot of money to his alma school, the University of Michigan. Stephen’s mother gave him $10,000 in 1972 so he could quit his job and start a business giving real estate advice.
He quickly became successful by building government-subsidized affordable housing to help wealthy investors hide their money. In the same year, he started The Related Companies to put his own money into real estate. The business now has offices all over the world and is in charge of more than $15 billion worth of real estate.
There are 5,000 rental flats owned by the Related Co. in New York City. Equinox Fitness, a high-end exercise club, has been a part of The Related Companies since 2006. Stephen Ross is on Equinox’s board. Ross helped start RSE Ventures in 2012, a private equity company that focuses on sports and entertainment.
These days, RSE has a stake in pretty much everything, from Vayner Media to the Drone Racing League. Among other things, he has shares in Soul Cycle, Bluestone Lane Coffee, &pizza, Momofuku, Milk Bar, Blink Fitness, Pure Yoga, the Miami Open, the women’s clothing company Lola, and other names.
Stephen M. Ross Career Highlights
Stephen M. Ross is an American real estate developer, philanthropist, and sports team owner with a net worth of $10.1 billion as of 2020. He is the founder and chairman of Related Companies, a global real estate development firm he founded in 1972.
Early Career
- Began his career as a tax attorney at Coopers & Lybrand in Detroit
- Moved to New York City in 1968 and worked at Laird Inc.’s real estate subsidiary and Bear Stearns’ corporate finance department
- Formed Related Companies in 1972 with a $10,000 loan from his mother, utilizing his federal tax law knowledge to organize deals for wealthy investors
Real Estate Developments
- Developed the Deutsche Bank Center and the Hudson Yards Redevelopment Project in New York City
- Expanded Related to own over 400 properties valued at more than $60 billion, including luxury condos, affordable housing, and company headquarters
- The largest project is the 26-acre Hudson Yards development on Manhattan’s West Side.
Sports Ownership
- Principal owner of the Miami Dolphins NFL team
- Purchased 50% of the Dolphins for $550 million in 2008 and an additional 45% for $450 million in 2009
Philanthropy
- Largest donor in University of Michigan history with lifetime contributions of $478 million
- Donated $100 million to the University of Michigan in 2004 to fund a new business school building, which was renamed the Stephen M. Ross School of Business
- Pledged to give more than half of his estate to philanthropic causes through the Giving Pledge
Honors and Awards
- Ranked 185th on Forbes Billionaires List in 2020
- Named #3 in The New York Observer’s Most Powerful Person in New York Real Estate list in 2009
- Received ESPY Award from the University of Michigan in 2017 for philanthropic contributions
- Inducted into the NFL Leadership Hall of Fame in 2019
Stephen Ross’ Assets, Cars, and Houses
Stephen Ross has an estimated net worth of $13.9 billion as of 2024, making him one of the wealthiest real estate developers in the world. The majority of his wealth comes from his ownership of Related Companies, a global real estate development firm he founded in 1972. Some key assets, cars, and houses owned by Stephen Ross include:
Real Estate Assets
- Related Companies owns over 400 properties valued at more than $60 billion, including luxury condos, affordable housing, and company headquarters.
- The largest project is the 26-acre Hudson Yards development on Manhattan’s West Side, valued at $25 billion.
- Owns an 11,000-square-foot oceanfront mansion in Palm Beach named “The Reef“
Sports Teams
- The principal owner of the Miami Dolphins NFL team, owning 95% of the franchise
- Purchased 50% of the Dolphins for $550 million in 2008 and an additional 45% for $450 million in 2009
Other Investments
- Investor in Equinox Fitness Clubs, Equinox Hotels and SoulCycle
- Co-founder of RSE Ventures, a private investment firm focused on sports, entertainment, media, food and lifestyle, and technology
Cars and Vehicles
No specific information on cars owned, but likely has a collection of luxury vehicles given his wealth
Homes and Real Estate
- The primary residence is the 11,000-square-foot oceanfront mansion in Palm Beach.
- Also owns homes in New York City and Miami, where Related Companies is headquartered.
Stephen Ross has amassed his fortune through savvy real estate investments and developments over the past five decades.
His ownership of Related Companies, which he founded with a $10,000 loan from his mother in 1972, is the primary driver of his wealth.
By expanding the company into luxury condos, affordable housing, and large-scale mixed-use developments like Hudson Yards, Ross has built one of the most successful real estate empires in the world.
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