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Stephen M. Ross
Born 1940
Detroit, Michigan
 United States
Alma mater University of Michigan
Wayne State University
New York University
University of Florida
Occupation Founder, CEO of The Related Companies,
95% owner of Miami Dolphins

Stephen M. Ross (born 1940 in Detroit, Michigan) is founder, chairman and CEO of The Related Companies, L.P. (TRC), a New York City-based real estate firm. He owns 95% of the Miami Dolphins NFL football franchise and 95% of Dolphin Stadium.[1] He is the nephew of late businessman and philanthropist Max M. Fisher of Detroit.[2]

Contents

Early life

Ross graduated from Miami Beach Senior High and attended the University of Florida. Later he earned his degree in accounting in 1962 from the University of Michigan Business School, a Juris Doctor from the Wayne State School of Law in 1965. He earned an LL.M. degree in Taxation from the New York University School of Law (1966).[3]

He began his career as a tax attorney at Coopers & Lybrand in Detroit, where he was born, and went on to become assistant vice president in the real estate subsidiary of Laird Inc. and in the corporate finance department of Bear Stearns, both in New York City.

The Related Companies

The developer of numerous high-profile projects in New York City and around the nation, TRC is best known for its historic 2.8 million-square-foot $1,700,000,000 Time Warner Center in Manhattan's Columbus Circle.

As of 2007 his estimated net worth according to the Forbes 400 list is $4.5 billion.[4]

As of 2009 his estimated net worth according to the Forbes 400 List is $2.9 billion. The $1.6 billion dollar drop is due to the collapse of the real estate market, where most of Ross' net worth comes from.

The Miami Dolphins

In February 2008, Ross bought 50 percent of the Miami Dolphin franchise, Dolphin Stadium and surrounding land from then-owner Wayne Huizenga for $550 million, with an agreement to later become the Dolphins' managing general partner. On January 20, 2009, in exchange for $1 billion more, Ross closed on the purchase of an additional 45 percent of from Wayne Huizenga. This means Ross is now the owner of 95% of both the franchise and the stadium. Ross has announced his intention to keep Bill Parcells as the director of football operations.[1] Since buying the Dolphins, Ross has brought in Gloria Estefan and Marc Anthony, along with Venus and Serena Willams, as minority owners of the team. He also signed a deal with Jimmy Buffett for the team's stadium naming rights; it is now called Land Shark Stadium.

Philanthropy

Ross was co-chair of the University of Michigan's $2.5 billion fund raising campaign, which was completed May 2007, 19 months ahead of schedule at a total in excess of $3.2 billion, the largest of any public school over the course of an 8 year campaign. He is currently serving on President Mary Sue Coleman's Advisory Group and the Director's Cabinet in the University’s Department of Intercollegiate Athletics. In 2004, Ross made the single largest contribution to the University of Michigan by donating $100 million to the school. The University renamed its business school, Ross School of Business in his honor.

He was on the executive committee of NYC2012, New York’s initiative to bring the summer Olympic Games to New York City in 2012, which failed when London won instead. As a trustee of the Guggenheim Museum (NYC) Ross is involved in the planning for a major renovation of the Frank Lloyd Wright iconic building and other new museums. He is a member of the executive committee and board of directors of the Real Estate Board of New York, a trustee of the National Building Museum and the Juvenile Diabetes Research Foundation. Ross is also Chairman of the Board of Trustees of Centerline Capital Group, and is a trustee of the National Building Museum and the Jackie Robinson Foundation, and longtime supporter of the UJA Federation of New York.

Honors and awards

Ross received the Jack D. Weiler Award from the UJA of New York in 2003 and the New York Building Congress 80th Anniversary Leadership Award in 2001. He was named the 2001 honoree for the Juvenile Diabetes Research Foundation's annual Promise Ball, and earlier that year he received the Henry Pearce Award from the Jewish Association of Services for the Aged.

Ross was named Owner & Developer of the Year by New York Construction News in 2000. In 1999, he was honored by the Lincoln Center Real Estate and Construction Council and received the “What New York Needs” award presented by The Doe Fund. Ross received the "Tree of Life Award" in 1998 in recognition of outstanding community involvement and devotion to peace and the security of human life.

Family

Stephen Ross and his wife Kara, an entrepreneur and jewelry designer, reside in New York with her two daughters from a previous marriage, Drew and Avery. Kara, a certified gemologist, began designing fine jewelry over five years ago. She has been featured in top fashion magazines and her pieces have been worn by celebrities.

Stephen Ross' uncle Max M. Fisher was a wealthy financier and philanthropist in Detroit, Michigan.

References

  1. ^ a b Stephen Ross Buys Ownership of the Miami Dolphins SI.com, January 20, 2009
  2. ^ University of Michigan - Stephen M. Ross.
  3. ^ Ross becomes owner of the Dolphins
  4. ^ Forbes List of Richest Americans
Preceded by
Wayne Huizenga
Miami Dolphins Principal Owner
2009-present
Succeeded by
incumbent
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