Bloomberg Billionaires Index

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# Steven Rales

Random fact: His movie 'Moonrise Kingdom' was nominated for an Oscar.

Overview

Rales is the chairman and co-founder of Danaher, a Washington-based conglomerate that makes wrenches, water quality tests and voting machines. He also owns stakes in Colfax, a fluid handling systems maker, and Fortive, which makes industrial manufacturing products. His billionaire brother, Mitchell, also owns shares in these companies.

As of Sept. 22, 2017:
Last change ()
YTD change ()
Industry Miscellaneous Manufacturing
Biggest asset N/A
Citizenship United States
Age 65
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Steven Rales's net worth of can buy ...

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of U.S. existing home sales
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Latest News

Net Worth Summary

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Biography

Birthdate: 3/31/1951
Family: Married, 3 children

Steven Rales was born March 31, 1951, one of four sons of Ruth and Norman Rales, a real estate developer in the Washington area. He was raised in Bethesda, Maryland, graduating with a bachelor's degree from DePauw University where he also played football. He later earned his law degree from American University. He joined his father's company and became head of the business making investments and making an unsuccessful bid to buy the San Francisco Giants baseball team, according to a 1988 Washington Post story.

In 1989, Steven and younger brother Mitchell struck out on their own and began acquiring diversified businesses through the 1980s, including an aluminum siding manufacturer and a rubber company. Their company eventually became Danaher, which was named after the river in Montana where they fished.

Rales's interest in movies led him to start his own production company, Indian Paintbrush, in 2006. The studio helped produce the Wes Anderson movie "Moonrise Kingdom," which won AFI's movie of the year award in in 2012.

The billionaire collects modern and contemporary art, according to a 2008 Washington Post profile. He has residences in Washington and Mount Desert Island, Maine.

Milestones
  • 1969 Graduates from Walt Whitman High School in Maryland.
  • 1973 Graduates from DePauw University in Indiana.
  • 1978 Receives a law degree from American University in Washington D.C.
  • 1984 Brothers change the name of their company to Danaher after a fishing trip.
  • 1984 Becomes co-chairman of Danaher with his brother.
  • 1990 Ends tenure as chief executive officer of Danaher.
  • 2006 Founds Indian Paintbrush, an independent film production company.
  • 2012 Father Norman Rales dies at the age of 88.