Michael Rubin, who is an American businessman and the CEO of ‘Fanatics’, was born on 21st July 1972. He has been known to lead one of the world’s biggest provider of licensed sports and games apparel. Rubin has also made a big fortune by being one of the previous partners of the Philadelphia 76ers NBA Basketball team. It has been reported that as of now in 2023, he has also become one of the top billionaires with estimations of about 11 billion USD in his wealth.
Michael has been in the recent news these days as there has been a star studded party which he hosted on 04th July 2023. The party was attended by the likes of Kim Kardashian, Justin Skye and Chaney Jones along with Kendall Jenner, Hailey Bieber, Lori Harvey, etc. The news headlines have also stated that in the event, the dresses for Kim and Chaney had almost ‘matched’ and the resemblance have now sent their fans into a debate about who was able to look better in the dresses. During this event, Kim had decided to send out a video of her fans so they could catch a glimpse.
Michael Rubin Net Worth 2023
Michael Rubin is a businessman and a philanthropist who has been known to lead various groups and companies such as the ‘Fanatics’, ‘Rue Gilt Groupe’, where the latter is one group which holds off price e-commerce businesses such as RueLaLa.com alongside of Gilt.com & ShopPremiumOutlets.com. He is known to be a founder of GSI Commerce, which was later acquired by the e-commerce giant, eBay. This trade had resulted in GSI being acquired for more than a sum of 2.3 billion USD in the year of 2011.
After this, Rubin was a partner in the NBA team of Philadelphia till the year of 2022. He had also been a partner in the hockey team of New Jersey starting from 2013. He had decided to sell all of his stake in 2022, when a property management holding company called ‘Harris Blitzer Sports & Entertainment’ had come forward to buy his stakes. This decision by Rubin had been made so he could focus and spend more time in building ‘Fanatics’.
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Michael Rubin Bio & Earnings Overview
|Born||21st July 1972|
|Residence||New York City|
|Companies||CEO of the Fanatics, Chairman Rue Gilt Groupe, Co chair Reform Alliance|
|Known For||GSI Commerce (Sold to eBay for more than 2 billion USD later)|
|Wife||Meegan Rubin (Divorced)|
|Education||Villanova University (Drop Out)|
|Featured In||‘Forbes 400’, ‘Forbes: The World’s Billionaires List’, ‘Bloomberg Billionaires Index’|
|Net Worth||Over 11 billion USD|
Michael Rubin Early Life, Age & Family
Michael was born to a Jewish family in Pennsylvania, where he had spent most of his childhood. His parents are Paulette Rubin, his mother who had worked as a psychiatrist and Ken Rubin, his father, who had worked as a veterinarian. It has been stated that he had spent his childhood in Lafayette Hill Community, which has been a part of Pennsylvania. Rubin has stated earlier that it was in this community where he had started a ski tuning shop in his house’s basement at the age of 12 years old.
When he was 16 years old, Michael had collected about 120,000 USD in debt and he had decided to settle all his debt by taking a loan from his father. His father had allowed him to do so under a condition that he goes to college. He had agreed to that while also continuing his business which had expanded to five ski tuning shops by this time. He had attended Villanova University, but only after a semester he had decided to drop out finally. Rubin had started with his ski shop business in Conshohocken, which is situated in Pennsylvania.
Michael Rubin Career & Earnings
Rubin has been an active member as the co-chair of the ‘REFORM Alliance’, an NGO which has been dedicated to bring about reforms in the American Criminal Justice System. The group also has various other celebrities such as Jay Z, Meek Mill, Daniel Loeb, among others. His one of the first career opportunity was during the time in college when he had bought 200,000 USD in equipment at a discount and reselling it later. Using this money, he founded an athletic equipment company called ‘KPR Sports’, which had been involved in buying and selling over stock merchandise.
This company had reached about 50 million USD in sales by the year 1995. Rubin, with the help of this, had then decided to purchase 40% of the women’s shoe company called ‘Ryka’. In 1998, Rubin founded Global Sports Incorporated or GSI Commerce which had been able to turn later into a billion dollar ecommerce business, when it later acquired by eBay. He then purchased a leading sports merchandiser company, the ‘Fanatics’. He has also been very active to bring partnership deals for the company and this number has now exceeded over 300 teams, leagues and teams.
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Michael Rubin Net Worth & Latest News
Rubin has been reported to have been a huge sports since his childhood years and he has also become the owner of a 43.5 million USD penthouse, which he had made the purchase of in 2018. He has been divorced from Meegan Rubin, who has worked as a dance teacher. His first daughter is Kylie, who was followed by his second daughter, Romi Rubin. Romi is the child of Rubin and model Camille Fishel.
For his efforts in philanthropy, Rubin had also started the ‘All In Challenge’ which had gone viral to raise about 60 million USD. This amount was raised to handle the food insecurity issue which had been a big part of the COVID 19 pandemic. In the recent news, it has also been stated that Rubin had recently held a big party at his 40 million USD mansion in the Hamptons. For this Fourth of July Rubin’s party, there was a request made that all his guests wear all white dresses to the party. This had led to Kim Kardashian’s dress to look very similar to that of Chaney Jones, who is also Kanye West’s ex, as reported.