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Dan Gilbert suffers stroke: His net worth, family, companies owned

Detroit Free Press logo Detroit Free Press 5/28/2019 Cindy Burton and John Gallagher
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Detroit billionaire Dan Gilbert, founder of Quicken Loans, was hospitalized after suffering stroke symptoms Sunday at Beaumont Hospital in Royal Oak. He was treated for a stroke and is recovering. Here are a few facts about the man who is responsible for much of downtown Detroit's recent growth and who also owns the NBA's Cleveland Cavaliers.

Dan Gilbert, Mike Duggan posing for the camera © Provided by Gannett Co., Inc.

Also read: Dan Gilbert's stroke a reminder it can happen at any age

More: Dan Gilbert bows out of Mackinac conference after health crisis

Net worth

 $7.3 billion

Personal

Birthdate and place: Jan. 17, 1962, in Detroit

Age: 57

Spouse: Jennifer Gilbert

Children: Four sons, one daughter. Gilbert's son Nick has a rare genetic disorder called neurofibromatosis, which causes tumors to grow throughout his body. Dan and Jennifer Gilbert founded the Gilbert Family Foundation to help fight for a cure.

Nick Gilbert wearing a suit and tie: Cleveland Cavaliers owner Dan Gilbert congratulates his son Nick Gilbert after the team won the NBA basketball draft lottery, Tuesday, May 21, 2013 in New York. © AP Cleveland Cavaliers owner Dan Gilbert congratulates his son Nick Gilbert after the team won the NBA basketball draft lottery, Tuesday, May 21, 2013 in New York.

Education

High school:  Southfield-Lathrup in Lathrup Village, Michigan

Michigan State University: Bachelor's

Wayne State University Law School: Juris Doctor

Major companies

Gilbert's holdings include dozens of companies and smaller enterprises, including many tech startups. He recently sold his Greektown Casino-Hotel for $1 billion but continues to own other casinos in Maryland and Ohio, according to Quicken's website. Among the companies:

Rock Ventures: The holding company that connects Gilbert's portfolio of more than 100 companies.

Cleveland Cavaliers: Gilbert bought this NBA team in 2005 for $375 million. Forbes magazine estimated the team was worth more than $1.3 billion in late 2018, but also estimated the team lost $6 million on operations in 2017. 

a large red chair in a restaurant: Large conference room surrounded by glass windows at the new Quicken Loans Technology Center in Corktown, Detroit on Tuesday, June 30, 2015. © Jessica J. Trevino, Detroit Free Large conference room surrounded by glass windows at the new Quicken Loans Technology Center in Corktown, Detroit on Tuesday, June 30, 2015.

Quicken Loans: Gilbert's online mortgage lender is the mother ship of Gilbert's family of companies. Gilbert founded Quicken in 1985 as Rock Financial and has built it into one of the nation's top mortgage lenders.

Bedrock: This company acquires and manages commercial properties in Detroit and Cleveland.

Rocket Fiber: This launched in 2014 to provide Detroit's fastest home and business internet service.

StockX: Allowing for day trading for consumer goods, this company is billed as the first online consumer "stock market of things" for high-demand products like expensive sneakers

Dictionary.com: Gilbert's Rock Holdings purchased the websites Dictionary.com and Thesaurus.com from New York-based media firm IAC in November 2018. The websites date to 1995 and are free for public use. They feature a significant amount of online advertisements.

Dan Gilbert, Mike Duggan posing for the camera: Dan Gilbert, Bedrock founder, left, and Detroit Mayor Mike Duggan at the ground breaking for the skyscraper that will be built on the site of the former Hudson's store in downtown Detroit in December 2017. © Mandi Wright, Detroit Free Press Dan Gilbert, Bedrock founder, left, and Detroit Mayor Mike Duggan at the ground breaking for the skyscraper that will be built on the site of the former Hudson's store in downtown Detroit in December 2017.

Real estate 

Gilbert moved Quicken Loans to downtown Detroit in 2010. Today, his companies own or control through master leases somewhere in the range of 100 properties, including many of downtown's iconic skyscrapers — the First National, One Woodward, 1001 Woodward and more. Gilbert's companies also own One Campus Martius, David Stott Building, Detroit Media Partnership Building (former home of the Detroit Free Press and the Detroit News), Chrysler House, Federal Reserve Building (current home of the Free Press and Detroit News), Shinola Hotel, Madison Building, and more. His downtown workforce has swelled to about 17,000 workers who fill up all these properties. 

Detroit redevelopment projects

In addition to several residential projects such as City Modern in Brush Park and the former Wayne County Consolidated Jail site on Gratiot Avenue, Gilbert also is redeveloping these sites:

Hudson's site: Where the the former J.L. Hudson's department store stood — it was the chain's flagship on Woodward — Gilbert is working on a mixed-use project that will feature the city's new tallest building, a residential and hotel tower rising more than 100 feet higher than the Renaissance Center. Gilbert broke ground on this unnamed project in December 2017, and it is expected to open about 2022.

Monroe Block project: This project is a series of office, residential and retail buildings to rise on what is now surface parking lots along Monroe running east from Campus Martius Park.

Book Tower: Gilbert is renovating this historic building on Washington.

One Campus Martius: He plans to fill in the back side of his headquarters at One Campus Martius, the former Compuware Building, which was left unfinished when Compuware first built it.

Free Press Building: At 321 W. Lafayette, this 14-story building was designed in the 1920s by famed architect Albert Kahn. It served as the Free Press headquarters until the newspaper staff moved out in 1998. The building sat empty for years as various owners failed to craft a workable plan for it. Gilbert and his partners bought it in 2016 and are turning it into a commercial and residential space. Work is expected to be completed in 2019. 

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This article originally appeared on Detroit Free Press: Dan Gilbert suffers stroke: His net worth, family, companies owned

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