Michael Rubin Net Worth & Biography

Michael Rubin Net Worth & Biography

American businessman and philanthropist Michael Rubin is best known for being the chief executive officer of the world’s leading provider of licensed sports merchandise, Fanatics. In addition to that, he is also the executive chairman Rue Gilt Groupe, the off-price e-commerce portfolio company, which comprises ShopPremiumOutlets.com, RueLaLa.com, and Gilt.com. He is a co-owner of the New Jersey Devils hockey team and the Philadelphia 76ers basketball team. He is the founder of GSI Commerce, a company he established in 1998 and late sold to eBay for $2.4 billion in 2011.

As a social activist, Mr. Rubin started the famous “All In Challenge”, where brands, celebrities and influencers donated valuable possessions and other things to raise the sum of $60 million to fight food insecurity in the United States during the COVID-19 pandemic. He is the co-chairperson of the Reform Alliance, a criminal justice restructuring organization that he inaugurated in January 2019, together with Laura Arnold, Michael Novogratz, Daniel S. Loeb, Clara Wu Tsai, Robert F. Smith, Robert Kraft, Jay-Z, and Meek Mill.

Rubin’s success story has enabled him to be included in the Forbes 400 list of the Richest People in America, the Bloomberg Billionaires Index, and the Forbes World’s Billionaires list.

Early Life: Childhood, Education

Michael G. Rubin was born on July 21, 1972 in the United States of America. Theirs was a Jewish family where his father Ken Rubin worked as a veterinarian while his mother Paulette Rubin was a psychiatrist.

He experienced his childhood in Lafayette Hill, Pennsylvania where he opened a ski-tuning shop in the basement of his parents’ house when he was 12 years old.  Two years later, using a $2,500 gift as seed capital and a lease that his father signed, he opened a formal ski shop named Mike’s Ski and Sport in Conshohocken, Pennsylvania. By the time he entered college, his business had grown to five ski shops which he efficiently and effortlessly managed with very little assistance.

Michael attended Villanova University for a single semester before dropping out following an opportunistic business transaction that fetched him a huge gain. This involved purchasing $200,000 in overstock equipment at a cut-rate with $17,000 a friend loaned him and re-selling it for $75,000.

Professional Life: Business Career

Mr. Rubin is the executive chairman of the world’s leader for licensed sports merchandise, Fanatics, a company that he happens to be the founder of as well. Under his leadership, Fanatics is transforming how sports fans purchase their favorite team gear through an innovative approach to retail.

Rubin is also the founder and chief executive officer of Kynetic, a globally renowned private technology company that is specialized in building consumer internet businesses. Prior to creating Kynetic, he was the founder and chief executive officer of GSI Commerce, a chain of e-commerce, digital marketing and multi-channel businesses. He ultimately sold this company to eBay for $2.4 billion in 2011 after 13 years of successfully running it.

We also know that Michael Rubin is a co-owner of several sports teams in the United States and the United Kingdom. The team he co-owns are the New Jersey Devils of the National Hockey League, the Philadelphia 76ers of the National Basketball Association, and Crystal Palace Football Club of the English Premier League.

Achievements: Awards & Honors

Awards and titles are things that mean different things to different people. For Michael Rubin, he has been recognized in many ways and has been honored with many prizes for his accomplishments as a businessman and dedicated individual who is committed to helping the less privileged in the society.

His financial situation, spun of course by his accomplishments in the business front, has earned him an inclusion in the Forbes 400 list of the Richest People in America, the Bloomberg Billionaires Index, and the Forbes World’s Billionaires list. He was once listed as one of the World’s 20 Most Powerful chief executive officers as well as in Forbes 40 Under 40. He has also been recognized by the Network at its Philadelphia Visionary Gala for Teaching Entrepreneurship citing his true spirit and willpower towards his dreams and the way he positioned himself as a role model and motivation for the NFTE students.

Michael Rubin Net Worth: Salary, Assets, Income Sources

Mr. Michael G. Rubin, as we all now know, is a successful businessman and entrepreneur who has made his wealth by establishing and running several companies and business enterprises throughout his life starting from the time he was just 12 years old. He is the founder and chief executive officer of Fanatics, as well as the executive chairman Rue Gilt Groupe, the off-price e-commerce portfolio company, which comprises ShopPremiumOutlets.com, RueLaLa.com, and Gilt.com. He also bought small shares in the New Jersey Devils franchise of the National Hockey League, the Philadelphia 76ers team of the National Basketball Association, and Crystal Palace Football Club of the English Premier League, all of these existing as contributory boosts to his fortune. TV fans can even recognize him for his appearance in the debut season of the hit TV series “Undercover Boss” which featured him as an undercover employer in the call center and warehouse of his own company.

As a matter of fact, Michael Rubin’s net worth is currently estimated at $4 billion by various online sources. Because of his success and remarkable contributions in business, he has been featured in several magazines and has appeared in a lot of interviews for People’s Magazine, The Wall Street Journal, The New York Times, and Forbes.