Stephen M. Ross
Encyclopedia
Stephen M. Ross is an American real estate developer. He is the founder, chairman and CEO of The Related Companies, L.P.
, a New York City
-based real estate development company. It is jointly owned by his business partner, Jorge M. Perez
. He owns 95% of the Miami Dolphins
NFL football franchise and 95% of Sun Life Stadium. The University of Michigan renamed its business school Ross School of Business
in his honor after receiving a $100 million endowment.
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).
He began his career as a tax attorney at Coopers & Lybrand in Detroit, 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
.
is best known for its Time Warner Center
in Manhattan
's Columbus Circle
. It is jointly owned by his business partner, Jorge M. Perez
.
As of 2011 his estimated net worth according to Forbes
is $3.1 billion, down from previous years.
Ross is said to be building a theme park across the street from Sun Life Stadium.
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 the team from Wayne Huizenga. This means Ross is now the owner of 95% of both the franchise and the stadium. Ross announced his intention to keep Bill Parcells
as the director of football operations. Parcells later stepped down from his position shortly before the 2010 NFL season. Since buying the Dolphins, Ross has brought in Gloria Estefan
, Marc Anthony
, Venus Williams
, and Serena Williams
, as minority owners of the team.
's fund raising campaign, which was completed May 2007. 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
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.
'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.
, reside in New York with her two daughters from a previous marriage, Avery and Drew. Stephen has two of his own children Jennifer and Kimberly from his first marriage.
Stephen Ross' uncle Max M. Fisher was a financier and philanthropist from Detroit, Michigan.
The Related Companies
The Related Companies L.P. is a real estate developer, manager and financier. The developer of numerous high-profile projects in New York City and around the United States, Related is best known for its historic 2.8 million-square-foot $1,700,000,000 Time Warner Center on Columbus Circle...
, a New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
-based real estate development company. It is jointly owned by his business partner, Jorge M. Perez
Jorge M. Perez
Jorge M. Pérez is a Cuban American real estate magnate and author. Pérez was born in Argentina of Cuban parents and lived in Colombia before moving to Miami in 1968. He is graduate of Long Island University C.W...
. He owns 95% of the Miami Dolphins
Miami Dolphins
The Miami Dolphins are a Professional football team based in the Miami metropolitan area in Florida. The team is part of the Eastern Division of the American Football Conference in the National Football League...
NFL football franchise and 95% of Sun Life Stadium. The University of Michigan renamed its business school Ross School of Business
Ross School of Business
The Stephen M. Ross School of Business is the business school of the University of Michigan. Numerous publications have ranked the Ross School of Business' Bachelor of Business Administration , Master of Business Administration and Executive Education programs among the top in the country and the...
in his honor after receiving a $100 million endowment.
Early life
Ross graduated from Miami Beach Senior High and later earned a degree in accounting in 1962 from the University of Michigan Business School, a Juris DoctorJuris Doctor
Juris Doctor is a professional doctorate and first professional graduate degree in law.The degree was first awarded by Harvard University in the United States in the late 19th century and was created as a modern version of the old European doctor of law degree Juris Doctor (see etymology and...
from the Wayne State
Wayne State University
Wayne State University is a public research university located in Detroit, Michigan, United States, in the city's Midtown Cultural Center Historic District. Founded in 1868, WSU consists of 13 schools and colleges offering more than 400 major subject areas to over 32,000 graduate and...
School of Law in 1965. He earned an LL.M. degree in Taxation from the New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
School of Law (1966).
He began his career as a tax attorney at Coopers & Lybrand in Detroit, 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
Bear Stearns
The Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession...
, both in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
.
The Related Companies
The Related CompaniesThe Related Companies
The Related Companies L.P. is a real estate developer, manager and financier. The developer of numerous high-profile projects in New York City and around the United States, Related is best known for its historic 2.8 million-square-foot $1,700,000,000 Time Warner Center on Columbus Circle...
is best known for its Time Warner Center
Time Warner Center
The Time Warner Center is a mixed-use skyscraper developed by AREA Property Partners and The Related Companies in New York City. Its design, by David Childs of Skidmore, Owings & Merrill, consists of two 750 ft towers bridged by a multi-story atrium containing upscale retail shops...
in Manhattan
Manhattan
Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
's Columbus Circle
Columbus Circle
Columbus Circle, named for Christopher Columbus, is a major landmark and point of attraction in the New York City borough of Manhattan, located at the intersection of Eighth Avenue, Broadway, Central Park South , and Central Park West, at the southwest corner of Central Park. It is the point from...
. It is jointly owned by his business partner, Jorge M. Perez
Jorge M. Perez
Jorge M. Pérez is a Cuban American real estate magnate and author. Pérez was born in Argentina of Cuban parents and lived in Colombia before moving to Miami in 1968. He is graduate of Long Island University C.W...
.
As of 2011 his estimated net worth according to Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
is $3.1 billion, down from previous years.
Ross is said to be building a theme park across the street from Sun Life Stadium.
Sports Team Ownership
In February 2008, Ross bought 50 percent of the Miami Dolphin franchise, Dolphin Stadium and surrounding land from then-owner Wayne HuizengaWayne Huizenga
Harry Wayne Huizenga is an American businessman who grew Blockbuster Video, Waste Management, Inc., and AutoNation into successful companies. He is the former owner of the National Football League's Miami Dolphins, the National Hockey League's Florida Panthers and the Major League Baseball's Miami...
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 the team from Wayne Huizenga. This means Ross is now the owner of 95% of both the franchise and the stadium. Ross announced his intention to keep Bill Parcells
Bill Parcells
Duane Charles "Bill" Parcells is a former American football head coach, most recently with the Dallas Cowboys from 2003 to 2006...
as the director of football operations. Parcells later stepped down from his position shortly before the 2010 NFL season. Since buying the Dolphins, Ross has brought in Gloria Estefan
Gloria Estefan
Gloria María Milagrosa Fajardo García de Estefan; known professionally as Gloria Estefan is a Cuban-born American singer, songwriter, and actress. Known as the "Queen Of Latin Pop", she is in the top 100 best selling music artists with over 100 million albums sold worldwide, 31.5 million of those...
, Marc Anthony
Marc Anthony
Marc Anthony is an American singer-songwriter, actor and producer. Anthony is the top selling tropical salsa artist of all time. The two-time Grammy and three-time Latin Grammy–winner has sold more than 30 million albums worldwide. He is best known for his Latin salsa numbers and ballads...
, Venus Williams
Venus Williams
Venus Ebony Starr Williams is an American professional tennis player who is a former World No. 1 and is ranked World No. 101 as of 10 October 2011 in singles and World No. 20 in doubles as of 2011. She has been ranked World No. 1 in singles by the Women's Tennis Association on three separate...
, and Serena Williams
Serena Williams
Serena Jameka Williams is an American professional tennis player and a former world no. 1. The Women's Tennis Association has ranked her world no. 1 in singles on five separate occasions. She became the world no. 1 for the first time on July 8, 2002 and regained this ranking for the fifth time on...
, as minority owners of the team.
Philanthropy
Ross was co-chair of the University of MichiganUniversity of Michigan
The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...
's fund raising campaign, which was completed May 2007. 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
Ross School of Business
The Stephen M. Ross School of Business is the business school of the University of Michigan. Numerous publications have ranked the Ross School of Business' Bachelor of Business Administration , Master of Business Administration and Executive Education programs among the top in the country and the...
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
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
won instead. As a trustee of the Guggenheim Museum
Solomon R. Guggenheim Museum
The Solomon R. Guggenheim Museum is a well-known museum located on the Upper East Side of Manhattan in New York City, United States. It is the permanent home to a renowned collection of Impressionist, Post-Impressionist, early Modern, and contemporary art and also features special exhibitions...
(NYC) Ross is involved in the planning for a major renovation of the Frank Lloyd Wright
Frank Lloyd Wright
Frank Lloyd Wright was an American architect, interior designer, writer and educator, who designed more than 1,000 structures and completed 500 works. Wright believed in designing structures which were in harmony with humanity and its environment, a philosophy he called organic architecture...
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
Juvenile Diabetes Research Foundation
JDRF is the leading global organization focused on type 1 diabetes research. Driven by volunteers connected to children, adolescents, and adults with this disease, JDRF is the largest charitable supporter of T1D research...
. Ross is also Chairman of the Board of Trustees of Centerline Capital Group, and is a trustee of the National Building Museum
National Building Museum
The National Builders Museum, in Washington, D.C., United States, is a museum of "architecture, design, engineering, construction, and urban planning"...
and the Jackie Robinson Foundation
Jackie Robinson Foundation
The Jackie Robinson Foundation is a non-profit organization which gives scholarships to minority youths for higher education, as well as preserving the legacy of Baseball Hall of Fame member, Jackie Robinson. The foundation was founded by Rachel Robinson, the wife of Jackie, in 1973, a couple of...
, 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 FoundationJuvenile Diabetes Research Foundation
JDRF is the leading global organization focused on type 1 diabetes research. Driven by volunteers connected to children, adolescents, and adults with this disease, JDRF is the largest charitable supporter of T1D research...
'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
The Doe Fund
The Doe Fund is a non-profit organization that provides job training and work opportunities, housing assistance, advocacy and support for homeless and unemployed people in New York City...
. 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, is an entrepreneur and jewelry designerJewelry designer
A jewellery designer or jewelry designer is a person who renders original jewellery creations and usually constructs them as well...
, reside in New York with her two daughters from a previous marriage, Avery and Drew. Stephen has two of his own children Jennifer and Kimberly from his first marriage.
Stephen Ross' uncle Max M. Fisher was a financier and philanthropist from Detroit, Michigan.