Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 257 Dan Gilbert $7.12B

Random fact: Had a stroke in May 2019.


Gilbert is the founder of Quicken Loans, the largest home mortgage lender in the United States. The Detroit-based company closed almost $500 billion of home loan volume between 2013 and 2018. He's invested in downtown Detroit real estate and is the majority owner of the Cleveland Cavaliers, an NBA franchise.

As of :
Last change -$305M ( -4.1%)
YTD change -$77.1M ( -1.1%)
Industry Real Estate
Biggest asset Quicken Loans
Citizenship United States
Age 58
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Dan Gilbert's net worth of $7.12B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Gilbert's fortune is derived from closely held Quicken Loans, the largest home mortgage lender in the U.S., according to its website. He owns 77 percent of the Detroit-based company, according to an April 2015 bond prospectus.

It's valued using the average enterprise value-to-sales multiples of two publicly traded peers: Essent Group and Lending Tree.

Through Rock Ventures, Gilbert has bought more than 100 properties in Detroit and Cleveland, according to a February 2017 press release. Rock Ventures and its affiliates have invested more than $3.5 billion in properties in these cities. The properties are valued using the net property value for those properties, according to data compiled by researcher RCA. Gilbert is credited with the entire company. The billionaire also owns 72 percent of the Cleveland Cavaliers NBA team that's valued using recent transaction values and adjusting that to reflect the fanbase and local market inhabited by the Cavs.

Gilbert's gaming arm, Rock Gaming, owns casinos in Baltimore, Cleveland and Cincinnati. They're valued at 7.5 times Ebitda, a multiple which reflects current sales prices in the regional casino sector, according to Imperial Capital's Gregg Klein. Revenue was provided by the regulators. Ebitda is based on the average margins reported by MGM Grand, Las Vegas Sands and Caesars in 2018.

A liability is included to reflect cost of acquiring assets net of proceeds from the sale of Rock Financial to Intuit and a 2015 bond. No response was received to e-mails sent to Rock Ventures requesting comment. Gilbert is recovering from a May 2019 stroke.


Birthdate: 1/17/1962
Family: Married, 5 children
Education: Michigan State University, Wayne State University Law School

Dan Gilbert was born in a Detroit suburb on Jan. 17, 1962, the son of a bar owner. He studied at Michigan State University and completed his law degree at Wayne State University. He delivered pizzas and used his earnings to set up lender Rock Financial in 1985, according to the company's 1998 prospectus. A year later he started, an online direct mortgage lender.

Rock Financial was bought by software maker Intuit for $370 million in 1999, and was renamed Quicken Loans. Three years later, Gilbert bought back the company, which thrived following Lehman Brothers' collapse in 2008, having avoided entering the subprime mortgage market. The billionaire moved the company's headquarters to downtown Detroit in August 2010, and through closely held investment company Rock Ventures started to buy buildings in the city center.

Gilbert, who bought a 72 percent stake in NBA franchise Cleveland Cavaliers in 2005, has also expanded into casinos, buying Detroit's Greektown Casino in April 2013. He also owns Rock Ohio Caesars, which owns resorts and racetracks in Ohio and Kentucky.

The billionaire lives on the outskirts of Detroit and has five children with wife Jennifer. He attracted national attention with a letter accusing departing Cavaliers player LeBron James of betrayal in 2010. The pair reconciled in July 2014, with James returning to Cleveland for the 2014/2015 season. He was hospitalized after suffering a stroke in May 2019.

  • 1962 Dan Gilbert is born in a Detroit suburb.
  • 1985 Sets up mortgage lender Rock Financial.
  • 1999 Sells Rock Financial to Intuit for $370 million in stock.
  • 2002 Buys back online mortgage business from Intuit.
  • 2005 Acquires majority stake in NBA franchise Cleveland Cavaliers.
  • 2010 Starts to move Quicken Loans headquarters into downtown Detroit.
  • 2012 Enters joint venture with Caesars Entertainment to develop regional casinos.
  • 2014 Quicken announces it has issued 2 million loans.