How did Michael Rubin Create his wealth?

Who is Michael Rubin?

Michael Rubin is a businessman and philanthropist known for being the CEO of Fanatics. Rubin was included in the Forbes 400: The Richest People in America Bloomberg Billionaires Index, and The World’s Billionaires list after becoming a billionaire.¬

What is Michael Rubin’s Net Worth?

Rubin has an estimated net worth of 11.4 billion USD as of July 2023. As a successful businessman and philanthropist, he has earned his wealth through a combination of entrepreneurship, investing, and philanthropy.

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Michael Rubin: The Billionaire Behind Fanatics

How did Michael Rubin Create his wealth?

Rubin is the CEO of Fanatics, the world’s leading provider of licensed sports merchandise. He is also the executive chairman of Rue Gilt Groupe, an e-commerce portfolio company that includes RueLaLa.com, Gilt.com, and ShopPremiumOutlets.com.

He dropped out of Villanova University in 1995 to start his own business, Global Sports. Global Sports later became GSI Commerce, which was sold to eBay in 2011 for $2.4 billion.

As part of the deal with eBay, Rubin paid $500 million for majority ownership of three assets that eBay didn’t want: Fanatics, Rue La La, and ShopRunner. Fanatics is now the world’s leading online retailer of licensed sports merchandise, with over $10 billion in annual revenue.

Rubin is also a minority owner of the Philadelphia 76ers and the New Jersey Devils. He is a philanthropist and has donated millions of dollars to various charities.¬†As of 2023, Michael Rubin’s net worth is estimated to be $11.4 billion. He is the 151st wealthiest person in the world.

Here are some of the ways that Michael Rubin earned his wealth:

Founding GSI Commerce

GSI Commerce was an e-commerce company that specialized in selling sports merchandise. The company was founded by Michael Rubin in 1998 and was sold to eBay in 2011 for $2.4 billion.

Building Fanatics

Fanatics is the world’s leading online retailer of licensed sports merchandise. The company was founded by Michael Rubin in 2001 and has grown to over $10 billion in annual revenue.

Investing in sports teams

Rubin is a minority owner of the Philadelphia 76ers and the New Jersey Devils. He has also invested in other sports-related businesses, such as the sports media company Barstool Sports.

Philanthropy

Rubin is a philanthropist and has donated millions of dollars to various charities. He is the founder of the Michael Rubin Foundation, which supports educational and athletic programs for underserved youth.

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Michael Rubin’s Personal Life

Rubin was born and raised by his Jewish parents Ken and Paulette. He was born on July 21, 1972, in Philadelphia, Pennsylvania.¬

Michael Rubin and his youngest daughter Romi
Rubin and his youngest daughter Romi

How did Michael Rubin Invite A-List Celebs to his White Party?

Rubin is a well-connected businessman with a wide network of friends and associates in the entertainment industry. He is also a major philanthropist, and his foundation has donated millions of dollars to various charities. These factors likely helped him to secure invitations to his white party from some of the biggest names in Hollywood.

In addition, Rubin is known for his lavish parties, and his white party is one of the most anticipated events of the summer. This likely attracted even more celebrities, who were eager to be a part of the festivities.

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A post shared by Michael Rubin (@michaelrubin)

On July 3, 2023, Rubin threw his usual annual bash which was attended by almost all celebrities you could think of. The party took place at the Hamptons donning pricey accessories. It was attended by Jay-Z, Beyoncé, Kim Kardashian, Travis Scott, Leonardo DiCaprio, Ne-Yo, Ben Affleck, Jennifer Lopez, Kevin Hart, DJ Khaled, Emily Ratajkowski, Tom Brady, Kylian Mbappe, David Ottoman, Fabolous, Lil Baby, Lil Uzi Vert, Jack Harlow, Meek Mill, to name a few.

The party trended for a few days as people were amazed by how much Rubin could pull out all those celebrities to his party. TikTok watch influencer Chad Alexender shared a video breaking down the expensive accessories the celebrities had at the party.

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