What is Michael Rubin’s net worth?
Michael Rubin is an American businessman, entrepreneur, and philanthropist who has a net worth of $8 billion. Robin is best known as the founder and CEO of Fanatics, an online company that sells sportswear and sports equipment. He is also the CEO of the Rue Gilt Groupe, which includes online retailers Gilt.com, RueLaLa.com, and ShopPremiumOutlets.com.
Michael founded GSI Commerce in the late 1990s, and sold it to eBay for $2.4 billion in 2011.
Robin became a partner of the Philadelphia 76ers basketball team in 2011 and the New Jersey Devils hockey team in 2013. He announced his intention to sell both stakes in 2022 following the announcement that fanatics would pursue larger sports gambling ambitions.
In 2019, Michael founded the REFORM Alliance for Criminal Justice Reform with Meek Mill, Jay-Z, and Robert F.” He also launched the “All In Challenge” campaign in which celebrities, companies, and influencers donate their expertise or assets to raise “tens of millions of dollars to feed people in need.” During the COVID-19 pandemic in 2010, Robin appeared on the CBS series “Undercover Boss” and worked undercover in a GSI Commerce warehouse and call center.
previous life
Michael Rubin was born Michael J. Rubin on July 21, 1972. He was raised in a Jewish home in Lafayette Hill, Pennsylvania, with his mother Paulette (a psychiatrist) and father Kane (a veterinarian). At the age of twelve, Michael launched a skate tuning project in his parents’ basement. Two years later, he used $2,500 he earned at a bar mitzvah to open Mike’s Ski and Sport in Conchohocken, Pennsylvania, with his father signing the lease. By the time Robin was 16, he had incurred $120,000 in debt, and had settled with creditors with the help of a $37,000 loan from Kane. In order to get money from his father, Michael had to agree to go to college, and spent one semester at Villanova University. By the time he entered Villanova University, his business had grown from one ski shop to five. Robin dropped out of college after buying $200,000 worth of heavily discounted excess gym equipment and made a profit of $75,000 when he resold it.
career path career path
Robin sold his ski stores and launched KPR Sports, a nearby company that sells sports equipment. In 1993, Michael turned 21 and KPR Sports achieved its first million in annual sales. By 1995, sales had reached $50 million. In the mid-1990s, Robin bought 40% of Rykä, a manufacturer of women’s sports shoes, and in 1998, he founded a logistics and apparel company called Global Sports Incorporated, which later turned into e-commerce company GSI Commerce. In 2011, Michael sold the company to eBay for $2.4 billion, but eBay was only interested in the order fulfillment business so it could better compete with Amazon, and Robin was able to buy back GSI’s consumer businesses at a low price. He bought back sports merchant Fanatics, Inc. , the Shop Runner retail benefit program, and the flash seller Rue La La. Michael is the CEO of Fanatics, and serves on the Rue La La board of directors as CEO. ShopRunner sold to FedEx for $228 million in 2020. He arranged partnership deals for Fanatics with more than 300 professional sports and leagues teams that made the Fanatics responsible for designing, manufacturing, and distributing Nike gear for Major League Baseball and the National Football League. Near the start of the COVID-19 pandemic, Robin stopped producing MLB uniforms at the Fanatics’ factory and began manufacturing personal protective equipment and hospital gowns instead. In August 2020, the company’s valuation rose to $6.2 billion after it raised $350 million in Series E funding, and secured $645 million in funding in 2021, bringing the valuation of the fanatics to $18 billion.
Stephen Lufkin / Getty Images
personal life
Michael was previously married to dance teacher Megan Robin, and they welcomed his daughter Kylie before ending their marriage. Robin also has a daughter, Romy (born in July 2020), with model Camille Fishel. Michael previously dated Nicole Labin, a CNN news anchor and “New York Times” best-selling author.
Robin is a friend of rapper Meek Mill and wrote a letter to the judge to try to keep Mills out of prison after he was arrested for violating probation. Mills was sentenced to two to four years in prison in November 2017, but was released in April 2018.
Awards
In 2011, the Network for Entrepreneurship Education (NFTE) honored Robin at the Philadelphia Visionary Gala because he represents “the true spirit and determination of an entrepreneur”. That year, Forbes included Michael in its “20 Powerful CEOs 40 and Under” list, and in 2018, he was featured on Bleacher Report’s “Power 50” list. From 2015 to 2019, Sports Business Journal included him in the “Top 50 Influential People in Sports Business” every year, and the publication named him “The Most Influential Person in Sports Business” in 2021 and “Sports Director of the Year” in 2022.
Real estate
In 2018, Robin paid $43.5 million for a penthouse apartment in Manhattan’s West Village. The 7,750-square-foot home includes five bedrooms, five bathrooms, a 4,944-square-foot rooftop terrace, an outdoor kitchen, library, show room, and pool. He put the shed on the market for $39 million in November 2020. In early 2021, Michael purchased a seven-bedroom mansion of over 8,000 square feet in the Hamptons for $50 million, $25 million less than the original asking price.
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