Dan Gilbert (businessman)

For other people of the same name, see Daniel Gilbert (disambiguation).

Daniel Gilbert
Born	(1962-01-17) January 17, 1962 Detroit, Michigan, U.S.
Alma mater	Michigan State University Wayne State University Law School
Occupation	Businessman, sports franchise owner, attorney
Years active	1985-present (as businessman) 2005-present (as owner of the Cleveland Cavaliers (NBA) 2012-present Cleveland Gladiators (AFL)
Children	5

Daniel "Dan" Gilbert (born January 17, 1962) is the chairman and founder of Quicken Loans Inc., the majority owner of the National Basketball Association's Cleveland Cavaliers, the American Hockey League's Lake Erie Monsters, the Arena Football League's Cleveland Gladiators and the NBA Development League's Canton Charge. He is also owner/operator of the Quicken Loans Arena in Cleveland, Ohio.

Career

Quicken Loans

Dan Gilbert founded Rock Financial in 1985. The company grew into one of the largest independent mortgage lenders in the country and in the late 1990s, launched its Internet strategy and quickly positioned itself as the fastest growing direct mortgage lender on the Internet.

In 2000, software maker Intuit Inc. purchased Rock Financial. The national web operation was renamed "Quicken Loans" and grew substantially as the leading provider of direct-to-consumer home loans on the Internet, offering mortgages in all 50 states. Gilbert remained at the company as its CEO. In 2002, he led a small group of private investors and purchased Quicken Loans and its affiliated national title company, Title Source, Inc., back from Intuit. To this day, Gilbert continues to serve as the chairman of Quicken Loans Inc.

In 2010, Quicken Loans moved its headquarters and 1,700 of its team members to downtown Detroit, where Gilbert and the company are helping lead a revitalization of Detroit’s urban core. The company plans to move another 2,000 team members from the suburbs to the city over the next 12 months.

Sports Franchise Ownership

Gilbert became majority owner of the Cleveland Cavaliers in March 2005 and undertook a complete overhaul of the front office, coaching staff, player personnel and game presentation.

In 2007, Gilbert bought out the dormant Utah Grizzlies American Hockey League franchise, and moved them to Cleveland renaming them the Lake Erie Monsters. In 2011, Gilbert purchased the NBADL's New Mexico Thunderbirds, and moved them to Canton, Ohio (about an hour's drive from Cleveland) renaming them the Canton Charge, and becoming the Cavaliers' new D-League affiliate. In early 2012, Gilbert became the new owner of the Arena Football League's Cleveland Gladiators.

Gilbert received national attention on July 8, 2010, when NBA basketball player and NE Ohio native LeBron James announced that he was leaving the Cavaliers for the Miami Heat on a highly criticized ESPN television special dubbed, The Decision. Following the special, Gilbert published an open letter to Cleveland Cavaliers fans on the team's website in Comic Sans font, in which he strongly criticized how James made his announcement.

On July 12, 2010, NBA Commissioner David Stern fined Gilbert $100,000 for his remarks in the letter. Though some members of the media criticized Gilbert for this letter, many Cleveland Cavaliers fans embraced him for it and even offered to pay for the fine. Gilbert instead insisted to donate the money to charity.

Other businesses and investments

Gilbert is a founding partner in private equity group Rockbridge Growth Equity LLC (RBE). The partnership invests in growing businesses in the financial services, Internet technology, consumer-direct marketing, and the sports and entertainment industries. RBE has significant investments in Northcentral University, Protect America, Ready Financial, One on One Marketing, Connect America and One Reverse Mortgage.

In addition, Gilbert is a principal of Detroit Venture Partners, a venture capital firm that funds start-up and early-stage technology companies in Detroit.

Gilbert is also invested and involved in the operation of several consumer-based technology-centered businesses, including Fathead, Veritix, Xenith, ePrize, StyleCaster and Quizzle.

In November 2009, Gilbert and a group of partners successfully backed a state-wide referendum to bring casino gaming to Ohio’s four largest cities. Through a joint venture with Caesars Entertainment Corporation, the groups are developing and will operate urban-based casinos in both Cleveland and Cincinnati.

Gilbert launched Bizdom U in 2007. The non-profit entrepreneurial academy trains, mentors and finances business builders in their start-up enterprises in the city of Detroit.

Gilbert serves on the boards of the Cleveland Clinic, the Children’s Hospital Foundation, an affiliate of the Washington D.C.-based Children’s National Medical Center (CNMC), and the Children’s Tumor Foundation.

Detroit initiatives

Quicken Loans moved its headquarters and 1,700 of its team members to downtown Detroit in August 2010, where Gilbert and the company are helping lead a revitalization of Detroit’s urban core.

In 2011, Gilbert purchased several buildings in downtown Detroit, including the historic Madison Theatre Building, Chase Tower and Two Detroit Center (parking garage), the Dime Building, First National Building and four smaller buildings on Woodward Avenue. In 2012, Gilbert's investment group purchased the former Federal Reserve Bank of Chicago Detroit Branch Building.

When Quicken Loans and its family of companies complete their occupancy of both the Madison Theatre Building and Chase Tower, it will employ approximately 4,000 full-time team members in downtown Detroit.

Personal life

Gilbert was born in Detroit, Michigan. He earned his bachelor's degree from Michigan State University, a Juris Doctor from Wayne State University Law School and is a member of the State Bar of Michigan. Gilbert was named one of the Forbes 400 in the magazine’s 2006 rankings. He resides in Michigan with his wife and their five children.

External links

• Dan Gilbert's Blog: Choose Thinking
• Dan Gilbert on Twitter