Micahel Rubin aka Michael G. Rubin (born July 21, 1972) is a businessman from the United States. He is the executive chairman of Fanatics, the world’s largest retailer of licensed sports products, and Rue Gilt Groupe, which comprises RueLaLa.com, Gilt.com, and ShopPremiumOutlets.com. He started GSI Commerce in 1998 and sold it to eBay for $2.4 billion in 2011.
Rubin most recently launched the viral “All In Challenge,” in which celebrities, influencers, and corporations donated valuable items or once-in-a-lifetime experiences in order to collect $60 million to combat food insecurity amid the Covid-19 pandemic.
Biography of Michael Rubin
Rubin, the son of Paulette and Ken Rubin, was born into a Jewish family. His father is a veterinarian and his mother is a psychotherapist. He grew up in Lafayette Hill, Pennsylvania, where he launched a ski-tuning shop in his parents’ basement when he was 12 years old, and two years later, he opened Mike’s Ski and Sport in Conshohocken, Pennsylvania, with $2,500 in bar mitzvah gifts as initial capital and a lease signed by his father.
He was $120,000 in debt by the age of 16 and was able to pay off his creditors with a $37,000 loan from his father on the condition that he attend college.
Rubin accepted and continued to run the company, which had grown to five ski stores by the time he started college. He spent a semester at Villanova University before dropping out after making a significant profit on an opportunistic deal. This entailed borrowing $17,000 from a friend to purchase $200,000 in overstock equipment at a deep discount and reselling it for $75,000.
After selling his ski businesses and using the funds from his serendipitous overstock deal, he went on to create KPR Sports, an athletic equipment closeout company that bought and sold over-stock name-brand products. KPR hit $1 million in yearly sales in 1993, the year Rubin turned 21; by 1995, KPR had grown to $50 million in sales. Rubin bought 40% of Rykä, a women’s sporting shoemaker, in 1995. He founded Global Sports Incorporated, clothing, and logistics company, in 1998, which would subsequently become GSI Commerce, a multibillion-dollar e-commerce corporation. Rubin sold GSI to eBay for $2.4 billion at the age of 38, netting a $150 million profit. He was able to buy back the consumer businesses of GSI at a fire sale price since eBay only wanted the order fulfillment business for large retailers so it could better compete with Amazon.com.
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He repurchased Fanatics, Inc., a licensed sports merchandiser; Rue La La, a flash seller; and Shop Runner, a retail benefits program, and combined the three businesses into Kinetic. Rubin is the executive chairman of each of his companies.
Rubin has negotiated partnerships with over 300 professional leagues, sports, and teams on behalf of Fanatics. Simon Property Group revealed on CNBC in 2019 that they will partner with Rubin to bring their mall inventory online and would donate $280 million to the effort. Rubin shut down a Fanatics’ MLB uniform production unit to produce hospital gowns and PPE for frontline workers when the COVID-19 epidemic broke out in early 2020. In August 2020, he raised $350 million in Series E fundraising for Fanatics, bringing the company’s worth to $6.2 billion.
Rubin has been interviewed or cited in The Wall Street Journal, The New York Times, Entrepreneur, and People Magazine, in addition to Forbes.
He worked undercover in GSI Commerce’s warehouse and phone center in the first season of the CBS reality show Undercover Boss in 2010. He offered $10,000 to an employee who had just struggled with the death of a baby after his identity was disclosed at the end of the show, so he and the baby’s mother could have a dream wedding.
Rubin has spoken at e-commerce and sports business events such as the Shop.org 2014 Summit and the MIT Sloan Sports Analytics 2014 and 2015 Conferences as a featured speaker and panelist.
Rubin, a lifelong sports lover, now resides in the Philadelphia area, close to where he grew up. Rubin is divorced from Meegan Rubin, a local dance teacher. They have a daughter together. Rubin and his long-time wife, professional model Camille Fishel, welcomed their second baby, Romi Rubin, in July 2020. Nicole Lapin, a CNN news anchor, was his previous girlfriend.
Rubin is pals with rapper Meek Mill and has advocated for his release from prison in 2018.
Rubin was reported to have purchased a $43.5 million Manhattan penthouse in 2018.
Net worth of Michael Rubin
Michael Rubin’s net worth is now estimated to be $3.5 billion. It is quite enormous! Michael Rubin is a multi-billionaire. He has undoubtedly earned a name for himself in the corporate world. It was only possible because of his perseverance and hard effort. It was also the result of his good fortune. Michael, on the other hand, has overcome numerous challenges in his life to get to where he is now. As a result, his art has acquired international prominence. He has also been praised by individuals all across the world. Fanatics, his sports brand, has brought honor to his country. He is also known as the Chairman of the Fanatics. As a result, his net worth is debatable.
Quick facts about Michael Rubin
Who is Michael Rubin?
Michael G. Rubin is a businessman from the United States. He is the executive chairman of Fanatics, the world’s largest retailer of licensed sports products, and Rue Gilt Groupe, which comprises RueLaLa.com, Gilt.com, and ShopPremiumOutlets.com. He started GSI Commerce in 1998 and sold it to eBay for $2.4 billion in 2011.
How old is Michael Rubin?
Michael Rubin was born on July 21, 1972. He is currently 49 years old.
Who is Michael dating?
Rubin is divorced from Meegan Rubin, a local dance teacher. They have a daughter together. Rubin and his long-time wife, professional model Camille Fishel, welcomed their second baby, Romi Rubin, in July 2020. Nicole Lapin, a CNN news anchor, was his previous girlfriend.
How much is the net worth of Michael Rubin?
Michael Rubin’s net worth is now estimated to be $3.5 billion.
How much of the Sixers does Michael Rubin own?
According to the source, Rubin has now acquired an additional two percent of Harris-Blitzer Sports and Entertainment, which he previously owned roughly 8% of.
|Full Name||Michael G. Rubin|
|Age||48 years old|
|Birth Date||8 December 1972|
|Birth Place||Lafayette Hill, Pennsylvania|