Wednesday, March 3, 2021

Dan Gilbert is now the world's 16th richest man after his net worth skyrocketed by $25 billion on Tuesday

Posted By on Wed, Mar 3, 2021 at 12:40 PM

click to enlarge Dan Gilbert. - WIKIPEDIA/STEVE JENNINGS
  • Wikipedia/Steve Jennings
  • Dan Gilbert.

Dan Gilbert is now the planet's 16th-richest human being after his net worth soared by $25 billion Tuesday, fueled by speculative day-trading on the stock market.

Bloomberg reported that his single-day increase in wealth represented the biggest daily jump up in the history of their list of wealthiest billionaires alive.

Gilbert owns more than 70% of the Rocket family of companies, under which Quicken Loans, the Cleveland Cavaliers, and Bedrock Real Estate are all housed, and which went public earlier this year, sending Gilbert's personal fortune into the stratosphere.

The news of Gilbert's bounty is yet another dismal reminder that as hundreds of thousands of people have died from COVID-19 and millions more have been plunged into the depths of poverty and despair, billionaires like Gilbert continue to rake in unprecedented sums.

The City of Cleveland, the USA's poorest big city, continues to dole out millions each year for Gilbert's Rocket Mortgage FieldHouse upgrade and recently okayed another handout for his Quicken Loans branch downtown.

We live in a broken world. There's not much more to say.

A version of this article was originally published by our sister paper, Cleveland Scene. It is republished here with permission.

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