Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#159 Stephen Ross $9.10B

Random fact: Served on the committee to bring 2012 Olympics to New York.

Overview

Ross is chairman of Related Cos., a closely held New York real estate developer. The company, which is building the Hudson Yards development in Manhattan, has interests in more than 340 properties that have a total value of more than $30 billion. The billionaire also owns gym chain Equinox and 95 percent of the NFL's Miami Dolphins.

As of July 26, 2017:
Last change No change
YTD change +$174M (+1.9%)
Industry Real Estate
Biggest asset Related
Citizenship United States
Age 73
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Stephen Ross's net worth of $9.10B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Ross's fortune is derived from his ownership of New York-based Related Cos., the closely held real estate company he founded in 1972 that has known interests in more than 340 properties with an estimated property value of $30 billion, according to data compiled by Real Capital Analytics.

The size of Ross's interest in these properties isn't disclosed. In Bloomberg's calculation the properties are assigned 50 percent debt, and Ross is credited with owning a half interest in each, according to discussions with analysts at CBRE and Cushman Wakefield.

Ross owns 95 percent of the Miami Dolphins professional football team, according to its website. The franchise is valued based on discussions with sports valuation consultant Marc Ganis.

Fitness chain Equinox has 92 clubs as of May 2017, according to its website, and is valued using the $18 million price-per-club paid by the chain for six clubs in 2014. The valuation does not include its 97 percent stake in SoulCycle, which is valued separately. The company's debt, as reported by Moody's, is included as a liability along with Related's $1.15 billion of debt, according to data compiled by Bloomberg.

SoulCycle is valued based on the price paid in May 2015 for a quarter stake in the cycling workout studio chain, according to its August 2015 prospectus. The value is net of debt.

Biography

Birthdate: 5/10/1940
Family: Married, 4 children
Education: 1966, New York University School of Law, Taxation, LLM 1965, Wayne State University Law School, JD 1962, University of Michigan, Business Administration, Bachelor's Degree

Stephen M. Ross was born in Detroit in 1940. After moving to Miami with his family, he attended the University of Florida, and then transferred to the University of Michigan, where he graduated with a bachelor's degree in business administration in 1962. He finished his studies with two law degrees: one from Wayne State University, another from New York University.

Ross began his professional career as a tax lawyer at Coopers & Lybrand in Detroit. He moved back to New York in 1968 and took several jobs, including in the corporate finance department of Bear Stearns. He founded real estate development business Related Cos. in 1972 with a $10,000 loan from his mother.

The billionaire expanded his real estate holdings to include 120 apartment buildings, about 35 office and retail buildings and four hotels across the U.S. His largest project under development is the 26-acre Hudson Yards on Manhattan's West side. He bought 50 percent of the Miami Dolphins professional football team for $550 million in 2008, purchasing an additional 45 percent of the team for $450 million the following year. The acquisition included Miami's Sun Life Stadium.

Ross and his wife live in New York and Palm Beach, and have four children.

Milestones
  • 1940 Stephen M. Ross is born in Detroit.
  • 1967 Begins working as a tax lawyer at Coopers & Lybrand in Detroit.
  • 1968 Moves back to New York. Takes jobs at Bear Stearns and Laird.
  • 1972 Founds Related Cos. with a $10,000 loan from his mother.
  • 2003 Related-developed Time Warner Center opens in New York.
  • 2008 Buys 50 percent of the Miami Dolphins professional football team.
  • 2009 Acquires another 45 percent of the football team for $450 million.
  • 2013 Donates $200 million to the University of Michigan.