Rank #354
Michael Rubin
Net worth $9.6B
Online retail · United States
- Born
- Jul 21, 1972
- Age
- 53
- Source
- Online retail
- Residence
- Bryn Mawr, Pennsylvania
- Citizenship
- United States
- Marital status
- Divorced
- Children
- 3
- Education
- Drop Out, Villanova University
Net worth over time
Biography
- Michael Rubin is the founder and CEO of Fanatics, the online sports merchandising retailer that also offers trading cards, autographed collectibles, live events and sports betting.
- After dropping out of Villanova University, Rubin started GSI Commerce, which he sold to eBay for $2.4 billion in 2011.
- As part of the deal, he paid $500 million for majority ownership of three assets eBay didn't want: Fanatics, Rue La La and ShopRunner.
- In 2018, flash-sales site Rue La La acquired rival Gilt Groupe. A year later, mall operator Simon Property Group took a 50% stake in the combined company.
- Rubin sold ShopRunner to FedEx for an undisclosed amount in 2020. He still owns minority stakes in Fanatics and Rue Gilt Group.
- Fanatics was valued at $31 billion by private investors in 2022. Forbes estimates the company is now worth $25 billion.
- At age 12, Rubin founded a ski-tuning shop, called Mike's Ski & Sport, in his parents' basement.
- Rubin joined Meek Mill, Jay-Z, Michael Novogratz, Clara Wu Tsai and Daniel Loeb to launch the nonprofit REFORM Alliance to improve probation and sentencing laws.
- He owned 10% of the parent company of the Philadelphia 76ers and New Jersey Devils, but he sold his stake in 2022.