Profitable Civic Development

Dan Gilbert built a multi-billion dollar empire through Quicken Loans while simultaneously working to revitalize Detroit. Here's how he operates.

Core Business Success

• Built Quicken Loans into largest home mortgage lender in US
  • Started as Rock Financial in 1985 with his brother
  • Sold to Intuit in 1997 for ~$90M
  • Bought back in 2002 for ~$20M
  • Took public recently with 85-90% ownership
  • Current market cap of $46B

Investment Philosophy

• Takes big risks on diverse ventures
• Says "yes before no" to new opportunities
• Maintains a "barbell" approach:
  • Core business: Stable mortgage lending
  • Venture investments: High-risk, innovative bets

Portfolio Highlights

• Sports & Entertainment
  • Cleveland Cavaliers (NBA team)
  • Previously owned casinos
• Digital & Media
  • Dictionary.com and Thesaurus.com
  • Robb Report
  • StockX (sneaker/watch marketplace)
• Retail & Consumer
  • Shinola (watches and hotel)
• Venture Capital
  • Largest LP in Ludlow Ventures
  • Own venture fund
  • Multiple tech investments

Detroit Revitalization Efforts

• Moved 4,000 employees to downtown Detroit
• Invested billions in real estate
  • Owns 20-30% of downtown Detroit
  • Purchased numerous derelict buildings
• Created private security force for the city
• Committed $300M to pay resident property taxes
• Built infrastructure including casinos and hotels

Personal Characteristics

• Family-focused with 5 children
• Philanthropic interests
  • Funds research for rare diseases
  • Focuses on hometown development
• Accessible and engaged leader
  • Responds personally to cold emails
  • Spends time with people he finds interesting
• Makes decisions based on interest rather than pure ROI