Bloomberg Billionaires Index

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# 308 Mitchell Rales $7.55B

Random fact: Along with his brother, donated shares worth $3.3 billion in 2021.


Rales is co-founder of Danaher, an industrial conglomerate that makes wrenches, water quality tests and voting machines. He's a major shareholder in Danaher as well as Enovis, a medical technology company, and Esab, which makes manufacturing equipment. His billionaire brother, Steven, also owns shares in these companies.

As of :
Last change +$27.5M ( +0.4%)
YTD change +$134M ( +1.8%)
Biggest asset DHR US Equity
Country / Region United States
Age 66
Industry Industrial
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Mitchell Rales's net worth of $7.55B 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:

Rales's fortune is derived from his stakes in Danaher, Enovis and ESAB, three publicly traded industrial and medical technology companies.

He owns 4% of Danaher, according to a May 2022 regulatory filing, and about 6% of Enovis and 5% of ESAB through a limited liability company and entities co-owned with family members. Rales no longer reports a position in Fortive after resigning from its board of directors in June 2021, and it was assumed to have been sold in August 2022.

Most of the shares Rales holds in Danaher, Enovis and ESAB are pledged to secure lines of credit. The Danaher line of credit is capped at 25% of the market value of the underlying shares, according to the 2021 proxy statement. His lines of credit on the Enovis and ESAB shares are assumed here to be capped at the same amount. In each case, 25% of the pledged shares are deducted from his sharecount to account for the line of credit.

The value of his cash investments is based on an analysis of insider transactions, dividends, taxes and market performance.

Anna Cordasco, a spokeswoman for Rales, didn't respond to a request for comment on his net worth in June 2021.


Family: Unknown, No children

Mitchell Rales grew up Bethesda, Maryland, one of four sons of Ruth and Norman Rales, a Washington developer of real estate. Rales played baseball and football at Walt Whitman High School then graduated with a degree in business administration from Miami University in 1978.

In 1979, he and his older brother Steven left the family business and struck out on their own, acquiring dozens of companies throughout the 1980s, including what would become Danaher Corp. in 1986. The company is named after the river in Montana where they conceptualized the business on a fishing trip. A decade after forming Danaher, the company revenues grew from $300 million to $1.5 billion. Around that time they formed Colfax in an attempt to replicate that success. The pair went on to acquire a series of water, power and motion control manufacturers and held Colfax's initial public offering in 2008. In 2016, they spun off publicly traded Fortiv Corp from Danaher.

Rales is an art collector, storing his works in a museum in Potomac, Maryland, named Glenstone. Works there include pieces by Willem de Kooning, Ellsworth Kelly and Jackson Pollock. He has residences in Maryland and Mount Desert Island, Maine.

  • 1956 Mitchell Rales is born to Norman and Ruth Rales.
  • 1978 Graduates with a degree in business administration from Miami University.
  • 1979 With brother Steven, forms own leveraged buyout business.
  • 1988 Formalize the Danaher Business System as management process for company.
  • 1995 Forms Colfax through acquisition of fluid and power handling companies.
  • 2008 Marries second wife, Emily Wei, who helps manage his art collection.
  • 2013 Begins construction on a second Glenstone museum building in Maryland.
  • 2016 Spin off new public company, Fortiv, from Danaher.