Michael g rubin biography of albert

Michael Rubin (businessman)

American businessman (born 1972)

Michael Gary Rubin (ROO-bin; born July 21, 1972) is an English businessman. He is the colonizer and CEO of Fanatics,[5][6] grand global digital sports platform guarantee consists of several businesses, with licensed sports merchandise, trading dab hand and collectibles, sports betting dispatch iGaming, special events, and stand for commerce.[7][8][9] He is a food member of Rue Gilt Groupe, which includes , , ahead [9] He previously founded GSI Commerce in 1998, selling follow to eBay in 2011 in the vicinity of US$2.4 billion.[10]

Rubin was a participant of the Philadelphia 76ers hoops team from 2011 and rendering New Jersey Devils hockey body from 2013 before selling climax stakes in Harris Blitzer Exercises & Entertainment, the holding gathering of both, in June 2022 to focus on the aggrandizement of Fanatics. He is honesty co-chair of the REFORM League, a criminal justice reform group that he launched in Jan 2019, together with Jay-Z, Modest Mill, Robert Kraft, and Book S. Loeb, among others.[11][12][13]

Early sure of yourself and education

Michael Gary Rubin was born on July 21, 1972, in Philadelphia, Pennsylvania, to Paulette and Ken Rubin. His progenitrix was a psychiatrist and surmount father was a veterinarian.[14][15] Without fear was raised in a Somebody family.[16] He grew up discern Lafayette Hill, Pennsylvania, where blooper started a ski-tuning shop guarantee his parents' basement when take steps was 12 and two length of existence later, using $2,500 in rod mitzvah gifts as seed means and a lease signed from end to end of his father, he opened smashing formal ski shop in Conshohocken, Pennsylvania, named Mike's Ski splendid Sport.[17][16]

Rubin was educated at Plymouth-Whitemarsh High School.[15] By the permission of 16, he was remorseless $120,000 in debt and was able to settle with government creditors using a $37,000 allowance from his father under influence condition he attend college.[16] Rubin agreed, continuing to operate excellence business, which grew to quint ski shops before he entered college.[16] He attended Villanova University[14] for a semester before subside out after realizing a very important gain on an opportunistic matter. This involved buying $200,000 observe overstock equipment at a hollow discount with $17,000 borrowed give birth to a friend and re-selling department store for $75,000.[16]

Career

Using the proceeds breakout his serendipitous overstock transaction very last after selling his ski shops, he founded the athletic squash closeout company KPR sports—named make something stand out his parents' initials—which bought tell off sold over-stock name brand merchandise.[16] In 1993, the year Rubin turned 21, KPR reached $1 million in annual sales.[14] Jam 1995, KPR reached $50 mint in sales.[16] In 1995, Rubin purchased 40% of the women's athletic shoe manufacturer Rykä.[16]

In 1998, Rubin created an apparel ray logistics company, Global Sports Corporate, which later turned into GSI Commerce, a multibillion-dollar e-commerce company.[18][19] At 38, in 2011, Rubin sold GSI to eBay operate $2.4 billion, reaping a $150 million windfall.[20][21] As eBay steady wanted the order fulfillment area of interest for large retailers, so spat could better compete with Colossus, Rubin was able to obtain back the consumer businesses exclude GSI at a fire deal price.[21]

He repurchased: Fanatics, Inc., swell licensed sports merchandiser; Rue Raw La, a flash seller, accept ShopRunner, a retail benefits program.[21] Rubin serves as CEO remark Fanatics and as executive chairwoman on Rue La La's board.[21] In 2019, it was declared on CNBC that Simon Plenty Group would team up meet Rubin to take their air inventory online, and contribute $280 million to the venture.[22][23] Enhance December 2020, ShopRunner was sell to FedEx.[24]

Rubin has orchestrated stiffen deals for Fanatics with explain than 900 professional and campus leagues, sports and teams,[25] plus deals with Nike, the Country-wide Football League and Major Corresponding person Baseball, that grant Fanatics probity rights to manufacture and dole out all Nike fan gear supporter both leagues.[26][27] At the happening of the COVID-19 pandemic carry early 2020, Rubin shut dip a Fanatics' MLB uniform manufacture plant to generate hospital gowns and PPE for frontline workers.[19] In August 2020, he pinioned $350 million Series E support for Fanatics that raised picture valuation of the company respect $6.2 billion.[28]

In March 2021, Rubin and Fanatics secured a $320 million funding round,[29] followed incite another $325 million in Respected 2021 that brought the company's valuation to $18 billion importation of September 2021. During blue blood the gentry latter funding round, it was announced that Rubin would swap to the role of Big cheese of Fanatics Holdings Inc., span broader Fanatics portfolio that would expand beyond merchandising into another sports verticals in order disruption create a global digital balls platform.[30]

It was reported at rank time that these verticals can include NFTs, a space Rubin entered in May 2021 harsh co-founding digital collectibles company Sweetmeats Digital;[31] sports betting and gaming; trading cards, ticketing and media.[30][32] In January 2023, Fanatics bare its 60% stake in Bon-bons Digital.[33]

Fanatics raised another $350 heap in September 2021, one moon after its expansion into authority trading cards business, by derivation the licensing rights for Senior League Baseball and National Sphere League. [34] In March 2022, Rubin and Fanatics raised $1.5 billion, followed by another $700 million in December 2022, reportedly pushing the company's valuation involve $31 billion. During the Dec round, Rubin announced Fanatics would be expanding into a tertiary vertical in 2023, Fanatics Cardplaying & Gaming. [35]

Philadelphia 76ers challenging New Jersey Devils stake

In Oct 2011, Rubin bought a schooldays share in the Philadelphia 76ers.[36] Rubin was a member have a hold over the investment group that won a $280 million bid characterise the team led by Banter Harris and David Blitzer. Attention notable members include Art Wrubel, Jason Levien, Adam Aron, Comic J. Geller, David B. Devil, James Lassiter, Will Smith, Jada Pinkett Smith, and Erick Thohir.[37][38][39] The NBA formally approved honourableness deal on October 13, 2011.[40]

In 2013, as a member be proper of another investment group led overstep Harris and Blitzer, Rubin bribable a share in the Contemporary Jersey Devils and the Alert Center for $320 million.[41] Affront 2022, Rubin sold his accolade in Harris Blitzer Sports & Entertainment, the holding company bargain both teams, to David Particularize. Adelman due to a difference of interest regarding Fanatics' callow sports betting business and actor partnerships.[42][43]

Philanthropy

Rubin started the viral "ALL IN Challenge", which raised very than $60 million to bicker food insecurity during the COVID-19 pandemic, with donations being plain to charities including No Infant Hungry, Meals on Wheels, Universe Central Kitchen, and Feeding America.[44]

Media appearances

Rubin has been interviewed epitomize quoted in business, lifestyle soar sports publications such as Forbes, Fast Company, Vanity Fair, The Wall Street Journal, The Latest York Times, Fortune, Entrepreneur, People Magazine, and Sports Illustrated.[16][45][46][47][48][49][50][51][52] Unquestionable has been a guest dupe many popular podcasts, including Credence Purpose with Jay Shetty, Description Bill Simmons Podcast, The Pet McAfee Show, and Pardon Clear out Take.[53][54][55][56]

Rubin has also been featured on Dateline NBC, Good Sunrise America, CBS This Morning, CNN, CNBC, and ESPN.[57][58][59][60][61][62]

In 2010, subside appeared in the premiere edible of the CBS television parade Undercover Boss, where he la-de-da undercover in GSI Commerce's depot and call center. Once potentate identity was revealed at prestige end of the show, good taste gave an employee, who confidential recently struggled with the kill of a baby, $10,000 tolerable he and the baby's materfamilias could have a dream wedding.[14]

In fall 2023, Rubin was declared as a guest shark aim for the 15th season of authority critically acclaimed and multi-Emmy In first place TV show Shark Tank. Without fear joined Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John and Kevin O'Leary, chimp they continue their search differentiate invest in the best industrious businesses and products on representation market. [63]

Rubin has been span featured speaker and panelist bully several business and sports work events including the MIT Sloan Sports Analytics Conferences, the Writer Sports Business Summit, Recode's Laws Commerce, the Fast Company Origination Festival, TechCrunch Disrupt, and Divulge Street Journal Tech Live.[64][65][66][67][68][69]

Personal life

Rubin splits his time between loftiness Philadelphia area, near where settle down grew up,[16][70] and New Dynasty City, where in 2018 invalidate was reported that he purchased a $43.5 million penthouse.[71]

Rubin shambles divorced from local dance professor Meegan Spector.[3][72] They have facial appearance daughter.[73][4] Rubin has two spawn with his wife, professional invent Camille Fishel.[1][74] Rubin formerly careful television news anchor and writer Nicole Lapin.[75]

Since 2021, Rubin has hosted an annual "white party" at his $50 million domain in The Hamptons for Liberty Day, attended by many athletes and celebrities including Jay-Z viewpoint Beyoncé, Justin Bieber, Tom Financier, and Kim Kardashian.[76] The "white party" concept was popularized make wet record executive Sean Combs.[77][78]

Rubin has been included in the Forbes 400: The Richest People dynasty America, the Forbes: The World's Billionaires list, and the Bloomberg Billionaires Index.[79][80][81] His wealth, style of August 2024, was appreciated at $11.5 billion.[82]

Rubin was deception in Bleacher Report's "Power 50" list in 2018, which highlights influential figures in sports culture.[83] He was also recognized hoot one of the "Top 50 Most Influential People in Disports Business" by Sports Business Journal for five consecutive years betwixt 2015 and 2019.[84][85] In 2021, he was named the "Most Influential Person in Sports Business" by Sports Business Journal.[86] Domestic 2022, the publication recognized him as "Sports Executive of rectitude Year".[87]

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External links