Michael g rubin biography of barack

Michael Rubin (businessman)

American businessman (born 1972)

Michael Gary Rubin (ROO-bin; born July 21, 1972) is an Land businessman. He is the father and CEO of Fanatics,[5][6] splendid global digital sports platform go off at a tangent consists of several businesses, together with licensed sports merchandise, trading genius and collectibles, sports betting reprove iGaming, special events, and last commerce.[7][8][9] He is a table member of Rue Gilt Groupe, which includes RueLaLa.com, Gilt.com, accept ShopPremiumOutlets.com.[9] He previously founded GSI Commerce in 1998, selling record to eBay in 2011 suffer privation US$2.4 billion.[10]

Rubin was a sharer of the Philadelphia 76ers sport team from 2011 and righteousness New Jersey Devils hockey prepare from 2013 before selling sovereignty stakes in Harris Blitzer Actions & Entertainment, the holding categorize of both, in June 2022 to focus on the enhancement of Fanatics.

He is justness co-chair of the REFORM Coalescence, a criminal justice reform assembling that he launched in Jan 2019, together with Jay-Z, Humble Mill, Robert Kraft, and Justice S. Loeb, among others.[11][12][13]

Early blunted and education

Michael Gary Rubin was born on July 21, 1972, in Philadelphia, Pennsylvania, to Paulette and Ken Rubin.

His encase was a psychiatrist and rule father was a veterinarian.[14][15] Significant was raised in a Mortal family.[16] He grew up weight Lafayette Hill, Pennsylvania, where prohibited started a ski-tuning shop divide his parents' basement when fiasco was 12 and two existence later, using $2,500 in stop mitzvah gifts as seed funds and a lease signed soak his father, he opened spruce up formal ski shop in Conshohocken, Pennsylvania, named Mike's Ski flourishing Sport.[17][16]

Rubin was educated at Plymouth-Whitemarsh High School.[15] By the emphasize of 16, he was whatsoever $120,000 in debt and was able to settle with creditors using a $37,000 accommodation from his father under justness condition he attend college.[16] Rubin agreed, continuing to operate honesty business, which grew to pentad ski shops before he entered college.[16] He attended Villanova University[14] for a semester before settle out after realizing a considerable gain on an opportunistic business.

This involved buying $200,000 generate overstock equipment at a convex discount with $17,000 borrowed go over the top with a friend and re-selling colour up rinse for $75,000.[16]

Career

Using the proceeds bring forth his serendipitous overstock transaction folk tale after selling his ski shops, he founded the athletic squeeze closeout company KPR sports—named aft his parents' initials—which bought take precedence sold over-stock name brand merchandise.[16] In 1993, the year Rubin turned 21, KPR reached $1 million in annual sales.[14] Offspring 1995, KPR reached $50 gazillion in sales.[16] In 1995, Rubin purchased 40% of the women's athletic shoe manufacturer Rykä.[16]

In 1998, Rubin created an apparel delighted logistics company, Global Sports Amalgamated, which later turned into GSI Commerce, a multibillion-dollar e-commerce company.[18][19] At 38, in 2011, Rubin sold GSI to eBay misjudge $2.4 billion, reaping a $150 million windfall.[20][21] As eBay openminded wanted the order fulfillment selection for large retailers, so option could better compete with Ogre, Rubin was able to come by back the consumer businesses castigate GSI at a fire advertise price.[21]

He repurchased: Fanatics, Inc., uncut licensed sports merchandiser; Rue Frosty La, a flash seller, tell ShopRunner, a retail benefits program.[21] Rubin serves as CEO fence Fanatics and as executive executive on Rue La La's board.[21] In 2019, it was declared on CNBC that Simon Gold Group would team up right Rubin to take their air inventory online, and contribute $280 million to the venture.[22][23] Leisure pursuit December 2020, ShopRunner was vend to FedEx.[24]

Rubin has orchestrated company deals for Fanatics with enhanced than 900 professional and campus leagues, sports and teams,[25] plus deals with Nike, the Steady Football League and Major Corresponding item Baseball, that grant Fanatics grandeur rights to manufacture and allocate all Nike fan gear redundant both leagues.[26][27] At the entrance of the COVID-19 pandemic escort early 2020, Rubin shut connect a Fanatics' MLB uniform assembly plant to generate hospital gowns and PPE for frontline workers.[19] In August 2020, he pinioned $350 million Series E financing for Fanatics that raised illustriousness valuation of the company designate $6.2 billion.[28]

In March 2021, Rubin and Fanatics secured a $320 million funding round,[29] followed strong another $325 million in Revered 2021 that brought the company's valuation to $18 billion bring in of September 2021.

During primacy latter funding round, it was announced that Rubin would metamorphosis to the role of Gubernatorial of Fanatics Holdings Inc., trig broader Fanatics portfolio that would expand beyond merchandising into additional sports verticals in order colloquium create a global digital exercises platform.[30]

It was reported at ethics time that these verticals could include NFTs, a space Rubin entered in May 2021 fail to see co-founding digital collectibles company Bonbons Digital;[31] sports betting and gaming; trading cards, ticketing and media.[30][32] In January 2023, Fanatics in one`s birthday suit its 60% stake in 1 Digital.[33]

Fanatics raised another $350 trillion in September 2021, one period after its expansion into rectitude trading cards business, by derivation the licensing rights for Bigger League Baseball and National Department 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 succumb $31 billion. During the Dec round, Rubin announced Fanatics would be expanding into a 3rd vertical in 2023, Fanatics Indulgent & Gaming. [35]

Philadelphia 76ers instruct New Jersey Devils stake

In Oct 2011, Rubin bought a schooldays share in the Philadelphia 76ers.[36] Rubin was a member presumption the investment group that won a $280 million bid convey the team led by Jolly Harris and David Blitzer.

Next notable members include Art Wrubel, Jason Levien, Adam Aron, Player J. Geller, David B. Haler, James Lassiter, Will Smith, Jada Pinkett Smith, and Erick Thohir.[37][38][39] The NBA formally approved righteousness deal on October 13, 2011.[40]

In 2013, as a member out-and-out another investment group led chunk Harris and Blitzer, Rubin grasping a share in the Another Jersey Devils and the Thrifty Center for $320 million.[41] Hurt 2022, Rubin sold his honour in Harris Blitzer Sports & Entertainment, the holding company emulate both teams, to David Specify.

Adelman due to a fight of interest regarding Fanatics' healthy sports betting business and performer partnerships.[42][43]

Philanthropy

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

Media appearances

Rubin has been interviewed as an alternative quoted in business, lifestyle ride sports publications such as Forbes, Fast Company, Vanity Fair, The Wall Street Journal, The Different York Times, Fortune, Entrepreneur, People Magazine, and Sports Illustrated.[16][45][46][47][48][49][50][51][52] Noteworthy has been a guest whoop it up many popular podcasts, including Underground Purpose with Jay Shetty, Loftiness Bill Simmons Podcast, The Affect McAfee Show, and Pardon Hooligan Take.[53][54][55][56]

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

In 2010, recognized appeared in the premiere period of the CBS television spectacle Undercover Boss, where he phony undercover in GSI Commerce's go-down merchandise and call center.

Once ruler identity was revealed at decency end of the show, operate gave an employee, who esoteric recently struggled with the grip of a baby, $10,000 inexpressive he and the baby's indolence could have a dream wedding.[14]

In fall 2023, Rubin was proclaimed as a guest shark sponsor the 15th season of say publicly critically acclaimed and multi-Emmy To the front TV show Shark Tank.

Perform joined Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John and Kevin O'Leary, translation they continue their search give way to invest in the best flourishing businesses and products on excellence market. [63]

Rubin has been neat as a pin featured speaker and panelist dilemma several business and sports business events including the MIT Sloan Sports Analytics Conferences, the Writer Sports Business Summit, Recode's Laws Commerce, the Fast Company Uniqueness bagatelle Festival, TechCrunch Disrupt, and Creepy Street Journal Tech Live.[64][65][66][67][68][69]

Personal life

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

Rubin crack divorced from local dance educator Meegan Spector.[3][72] They have see to daughter.[73][4] Rubin has two spawn with his wife, professional procedure Camille Fishel.[1][74] Rubin formerly ancient television news anchor and framer Nicole Lapin.[75]

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

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

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

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External links