Early Life and Net North
A successful businessman and philanthropist, Michael Rubin has a Jewish background with Paulette and Ken Rubin as doctor parents. Michael Rubin has a net worth of $8 billion. Born in America, in 1972, his entrepreneurship started at the age of 12 when he started a ski-tuning shop in his basement. He opened a ski shop at 14 using money from his gift shop.
By the time he was 16, to clear his debts, he sold his ski shop and framed a sports company KPR. At 21, his annual sales were $1 million and at 23, it was 50 million dollars. In 1995, he bought 40% of women’s athletic shoe company Ryka for $2.4 billion. As CEO of Fanatics, Rubin submerged Rue La La, and Shop Runner into the company. He has been featured on the CBS show Undercover Boss. He has been included in the list of Billionaires by Forbes magazine and his personal wealth was evaluated to be $8 billion.
Career and Achievements
In 1991, Rubin founded a logistic company GSI Commerce which was sold to eBay and later bought back at fire-sale price. Rubin planned deals with more than 300 professional teams, leagues, and sports events like Nike, NBA, and MLF that sold their rights to Fanatics for manufacturing, designing, and distributing all Nike fan material in both the leagues. During the pandemic time in early 2020, Rubin started “all in Challenge” with the help of celebrities, influencers, brands, and teams to donate their valuable assets to raise $60 million in funds for food to help covid patients.
This raised the valuation of Fanatics to $6.2 billion. In October 2011, Rubin invested in the Philadelphia 76ers and bought $280 million bid for the team. Later, Rubin bought a share in the New Jersey hockey team. Later, he had to sell both his shares due to rising differences between his company fanatics and owners of sports teams. In 2010, he appeared as undercover for a television show where he worked as a call center executive. When his identity was revealed, he donated $10000 to an employee. He has been an influencer speaker at sports events and innovative events.
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Recognitions
Rubin was named “20 most powerful CEOs under 40” by Forbes magazine in 2011. He was included in Sports Business Journals’ top 50 most influential sports person from the year 2015 to 2019. Sport’s Business Journal named him ‘Most influential person “ in 2021 and “Sports Executive of the year” in 2022. He was also honored by NFTE for being an inspiration to NFTE students in 2011.
Personal Life
He presently lives in New York City in a penthouse worth $43.5 million which he bought in 2018 and spends quality time in Philadelphia where he grew up. He is divorced from Meegan Rubin, a local dance teacher, and has a daughter with her. His second daughter Romi Rubin is from professional model Camille Fishel. He also dated CNN news anchor Nicole Lapin for some time.
