Bloomberg Billionaires Index

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# 210 Michael Rubin $9.42B

Random fact: Hip-hop artist Jay-Z is an investor in Fanatics.

Overview

Rubin is the founder and executive chairman of Fanatics, the world's largest retailer of officially licensed gear for US sports fans. The Jacksonsville, Florida-based company sells jerseys and apparel at sporting stadiums, flagship stores and online. The closely held company was valued at $27 billion in a March 2022 funding round.

As of :
Last change No change
YTD change +$1.23B ( +15.0%)
Biggest asset Fanatics, Inc.
Country / Region United States
Age 50
Industry Retail
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Michael Rubin's net worth of $9.42B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Rubin's net worth derives from a minority stake in Fanatics, a sports merchandise company. It has the world's largest collection of officially licensed US fan gear, according to its website.

Fanatics was valued at $27 billion in a February 2022 funding round, according to a Bloomberg News report. Rubin owns at least 33% of the company, according to a person familiar with the matter who asked not to be named because the information is private, and he's credited with a one-third stake in this analysis. The valuation was updated on March 3, 2022 to reflect the latest funding round and this led to an increase in the calculation of $1.3 billion.

Rubin's other investments through holding company Kynetic aren't included because some details couldn't be verified.

Cash investments are valued based on an analysis of dividends, insider transaction, taxes and market performance.

A spokesman for Fanatics declined to comment on Bloomberg's net worth calculations.

Biography

Birthdate: 7/21/1972
Family: Unmarried, No children

Raised in Lafayette Hill, Pennsylvania, Michael G. Rubin dropped out of Villanova University while still a freshman after buying and reselling some sports equipment for a profit of $75,000. Using the proceeds, he founded the athletic equipment company KPR Sports, which bought and sold overstock name brand merchandise, according to his website.

KPR's revenues increased from $1 million in 1993 to $50 million in 1995, the year Rubin turned 23. In 1998 Rubin created Global Sports, which later changed its name to GSI Commerce. GSI ran the e-commerce operations of major retailers, including K-Mart and Sports Authority.

EBay bought GSI Commerce in 2011 for $2.4 billion. As part of the transaction, Rubin bought back from eBay three GSI businesses that eBay wasn't interested in owning: ShopRunner, Rue La La, and Fanatics.

Over the next 10 years, Fanatics signed dozens of licensing agreements with professional sports teams and retailers to sell a large variety of sports gear. In March 2022 it was valued at $27 billion, according to Bloomberg News' reporting.

Milestones
  • 1972 Michael G. Rubin is born
  • 1993 KPR Sports, which he began after leaving college, hits $1 million annual sales
  • 2011 Sells GSI Commerce to eBay and buys back a business called Fanatics.
  • 2021 Fanatics is valued at $18 billion in a funding round.