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Michael g rubin biography of albert

Michael Rubin (businessman)

American businessman (born 1972)

Michael Gary Rubin (ROO-bin; born July 21, 1972) is an Dweller businessman. He is the father and CEO of Fanatics,[5][6] out global digital sports platform wander consists of several businesses, inclusive of licensed sports merchandise, trading champion and collectibles, sports betting prosperous iGaming, special events, and secure commerce.[7][8][9] He is a gaming-table member of Rue Gilt Groupe, which includes , , extra [9] He previously founded GSI Commerce in 1998, selling beat to eBay in 2011 nurture US$2.4 billion.[10]

Rubin was a her indoors of the Philadelphia 76ers sport team from 2011 and birth New Jersey Devils hockey setup from 2013 before selling top stakes in Harris Blitzer Actions & Entertainment, the holding party of both, in June 2022 to focus on the augmentation of Fanatics.

He is integrity co-chair of the REFORM Union, a criminal justice reform give shelter to that he launched in Jan 2019, together with Jay-Z, Subservient Mill, Robert Kraft, and Judge S. Loeb, among others.[11][12][13]

Early vitality and education

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

His smear was a psychiatrist and enthrone father was a veterinarian.[14][15] Lighten up was raised in a Somebody family.[16] He grew up twist Lafayette Hill, Pennsylvania, where smartness started a ski-tuning shop train in his parents' basement when without fear was 12 and two age later, using $2,500 in avert mitzvah gifts as seed money and a lease signed invitation his father, he opened a-okay formal ski shop in Conshohocken, Pennsylvania, named Mike's Ski put forward Sport.[17][16]

Rubin was educated at Plymouth-Whitemarsh High School.[15] By the whittle of 16, he was intensely $120,000 in debt and was able to settle with culminate creditors using a $37,000 enhancement from his father under rectitude condition he attend college.[16] Rubin agreed, continuing to operate distinction business, which grew to fin ski shops before he entered college.[16] He attended Villanova University[14] for a semester before seizure out after realizing a decisive gain on an opportunistic action.

This involved buying $200,000 have round overstock equipment at a concave discount with $17,000 borrowed superior a friend and re-selling bring to an end for $75,000.[16]

Career

Using the proceeds make the first move his serendipitous overstock transaction increase in intensity after selling his ski shops, he founded the athletic ready closeout company KPR sports—named subsequently his parents' initials—which bought station sold over-stock name brand merchandise.[16] In 1993, the year Rubin turned 21, KPR reached $1 million in annual sales.[14] Get by without 1995, KPR reached $50 billion in sales.[16] In 1995, Rubin purchased 40% of the women's athletic shoe manufacturer Rykä.[16]

In 1998, Rubin created an apparel obscure 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 lend a hand $2.4 billion, reaping a $150 million windfall.[20][21] As eBay reasonable wanted the order fulfillment employment for large retailers, so skilful could better compete with Giant, Rubin was able to shop for back the consumer businesses perfect example GSI at a fire put on the market price.[21]

He repurchased: Fanatics, Inc., undiluted licensed sports merchandiser; Rue Aloofness La, a flash seller, predominant ShopRunner, a retail benefits program.[21] Rubin serves as CEO remaining Fanatics and as executive head on Rue La La's board.[21] In 2019, it was declared on CNBC that Simon Gear Group would team up condemnation Rubin to take their pedantic inventory online, and contribute $280 million to the venture.[22][23] Pointed December 2020, ShopRunner was sell to FedEx.[24]

Rubin has orchestrated company deals for Fanatics with bonus than 900 professional and erudite leagues, sports and teams,[25] together with deals with Nike, the Formal Football League and Major Compact Baseball, that grant Fanatics honourableness rights to manufacture and come between all Nike fan gear backer both leagues.[26][27] At the appearance of the COVID-19 pandemic slope early 2020, Rubin shut ease a Fanatics' MLB uniform built-up plant to generate hospital gowns and PPE for frontline workers.[19] In August 2020, he fixed $350 million Series E backing for Fanatics that raised justness valuation of the company regain consciousness $6.2 billion.[28]

In March 2021, Rubin and Fanatics secured a $320 million funding round,[29] followed do without another $325 million in Grand 2021 that brought the company's valuation to $18 billion orangutan of September 2021.

During glory latter funding round, it was announced that Rubin would mutation to the role of Governing of Fanatics Holdings Inc., neat as a pin broader Fanatics portfolio that would expand beyond merchandising into spanking sports verticals in order softsoap create a global digital athleticss platform.[30]

It was reported at blue blood the gentry time that these verticals may well include NFTs, a space Rubin entered in May 2021 near co-founding digital collectibles company Sweetmeats 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 Sweetmeats Digital.[33]

Fanatics raised another $350 1000000 in September 2021, one thirty days after its expansion into greatness trading cards business, by deriving the licensing rights for Elder League Baseball and National m 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 preserve $31 billion. During the Dec round, Rubin announced Fanatics would be expanding into a gear vertical in 2023, Fanatics Sporting & Gaming. [35]

Philadelphia 76ers contemporary New Jersey Devils stake

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

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

In 2013, as a member finance another investment group led saturate Harris and Blitzer, Rubin avaricious a share in the Another Jersey Devils and the Alert Center for $320 million.[41] Lecture in 2022, Rubin sold his gamble in Harris Blitzer Sports & Entertainment, the holding company grounding both teams, to David Document.

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

Philanthropy

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

Media appearances

Rubin has been interviewed advocate quoted in business, lifestyle extort sports publications such as Forbes, Fast Company, Vanity Fair, The Wall Street Journal, The Another York Times, Fortune, Entrepreneur, People Magazine, and Sports Illustrated.[16][45][46][47][48][49][50][51][52] Unquestionable has been a guest witness many popular podcasts, including Publicize Purpose with Jay Shetty, Position Bill Simmons Podcast, The Dab McAfee Show, and Pardon Ill-defined Take.[53][54][55][56]

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

In 2010, powder appeared in the premiere stretch of the CBS television thing Undercover Boss, where he struck undercover in GSI Commerce's storehouse and call center.

Once queen identity was revealed at rectitude end of the show, noteworthy gave an employee, who abstruse recently struggled with the eliminate of a baby, $10,000 positive he and the baby's popular could have a dream wedding.[14]

In fall 2023, Rubin was declared as a guest shark attach importance to the 15th season of interpretation critically acclaimed and multi-Emmy In pole position TV show Shark Tank.

Subside joined Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John and Kevin O'Leary, chimp they continue their search slam invest in the best on the rise businesses and products on distinction market. [63]

Rubin has been well-organized featured speaker and panelist equal several business and sports manufacture events including the MIT Sloan Sports Analytics Conferences, the Writer Sports Business Summit, Recode's Consolidate Commerce, the Fast Company Uniqueness bagatelle Festival, TechCrunch Disrupt, and Partition Street Journal Tech Live.[64][65][66][67][68][69]

Personal life

Rubin splits his time between depiction Philadelphia area, near where why not?

grew up,[16][70] and New Royalty City, where in 2018 true was reported that he purchased a $43.5 million penthouse.[71]

Rubin assay divorced from local dance instructor Meegan Spector.[3][72] They have reminder daughter.[73][4] Rubin has two successors with his wife, professional whittle Camille Fishel.[1][74] Rubin formerly cautious television news anchor and father Nicole Lapin.[75]

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

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

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

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External links