Ross is chairman of Related Cos., a closely held real estate developer with more than $60 billion in assets. The billionaire's other investments include the Miami Dolphins, a team in the National Football League. He's also chairman of Related Ross, the developer behind about $10 billion of real estate projects in south Florida.
The basis of Ross's fortune is derived from his ownership of New York-based Related Cos., the closely held real estate business he founded in 1972. Related has real estate valued at more than $60 billion, including luxury condominiums, affordable housing and bespoke company headquarters, according to its website.
Ross is also behind Related Ross, a West Palm Beach, Fla.-based property developer which has invested about $10 billion in developments in South Florida, according its website. Ross' stakes in the two firms are valued based on information provided by someone familiar with the billionaire's finances.
Ross is calculated to own 87% of the NFL's Miami Dolphins, based on information that previously appeared on its website and reports that he sold a 13% minority stake in the team in December 2024, via a press release. The franchise is valued based on an August 2025 analysis from valuation consultants Sportico.
Fitness chain Equinox had revenue of $850 million in 2022, according to a March 2023 Bloomberg News article. It's valued using the enterprise value-to-sales and price-to-earnings multiples of three publicly traded peers: Life Time Group, Gym Group and Curves Holdings Co.
Ross' cash portfolio comprises the proceeds of his sale of a minority stake in the Dolphins in 2024 as well as numerous other assets, including venture capital fund RSE Ventures, Apogee Golf Club, real estate and media rights broker Relevent Sports. It's adjusted for market performance, philanthropic donations and other purchases.
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.