Cleveland Cavaliers majority owner Dan Gilbert slots in at No. 118 on Forbes’ Richest Americans list for 2013. Coming in at No. 250 one year ago, this move represents a 132-slot increase.
Gilbert, 51, is estimated to be worth $3.9 billion. While Forbes lists his wealth as “self-made” due to his ownership of Quicken Loans, the entreprenurial Michigan native owns Cleveland’s NBA franchise as well as the Lake Erie Monsters (AHL), Cleveland Gladiators (Arena Football), and the Canton Charge (NBDL). The chairman of Rock Gaming, Gilbert’s group also owns the Horesehoe Casino which opened in Cleveland back in 2012. His Cincinnati-based casino opened several months later.
In a recent piece by Sports On Earth’s Will Leitch, it was stated that the city of Cleveland (and other economically burdened areas) need more individuals like Dan Gilbert.
“Gilbert’s stamp on downtown is unmistakable,” writes Leitch. “There is of course his Quicken Loans Arena — or “The Q,” as it’s listed on directional street signs around town — right across the street from Progressive Field; the two edifices even share a plaza. The biggest casino in town is Gilbert’s Horseshoe Casino, which several locals told this non-gambler is “much nicer than it probably had to be.” Gilbert is also renowned for helping build up the local tech scene, regularly investing in local businesses, particularly if they agree to have their offices downtown, through his company Bizdom. [...] Every city that’s struggling, that’s trying to get back on its feet, that’s trying to make its downtown matter again, it, in part, needs a private benefactor: Someone who believes in the city. You need a billionaire. Cleveland’s is Dan Gilbert.”
Ohioans who made Forbes’ list include New Albany’s Leslie Wexner, whose $5.7 billion rank him 73rd overall; Brookville’s Clayton Mathile whose pet food company has netted him roughly $2 billion and the 273rd spot; and Catherine Lozick of Cuyahoga Falls, Ohio, who inherited roughly $1.7 billion once rooted in manufacturing.