I watched him do it, you know.
Where is George Bush?
Gilbert has stroke in hospital; Emerson replaces him at Mackinac business conference
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| Dan Gilbert & Mike Duggan |
I am claiming it.
Gilbert, the billionaire online mortgage lender and Detroit real estate developer, suffered a stroke" Sunday and had a "catheter-based procedure" at Beaumont Hospital and was put in the Intensive Care Unit, Farner said in a statement.
The statement indicates Gilbert's health condition is more serious than initially indicated.
"Dan is awake, responsive and resting comfortably," Farner said. "Dan and his family are immensely grateful to the doctors and nurses whose early intervention is already paying dividends toward his recovery."
The revelation came as the Detroit Regional Chamber said Quicken Loans Vice Chairman Bill Emerson is replacing Gilbert at this week's Mackinac Policy Conference.
Gilbert's health issue isn't expected to affect the day-to-day operations of the Quicken Loans family of companies, a University of Michigan expert said.
It was a point reinforced by Farner, who said "Thanks to the strong culture and leadership Dan has built and grown, business at the Rock Family of Companies will continue under the normal, everyday direction of their respective CEOs."
But the illness could affect high-profile projects such as the skyscraper scheduled to be built along Woodward Avenue on the old Hudson department store site, said Erik Gordon, an assistant professor in UM's Ross School of Business.
The 912-foot skyscraper is expected to become Michigan's tallest building, taller than the Renaissance Center.
The condition of Gilbert remained unchanged as he recovers from stroke-like symptoms that led over the weekend to his hospitalization at Beaumont Hospital in Royal Oak.
“Dan and his family are in our thoughts, and we are wishing him a speedy recovery," Detroit Regional Chamber Sandy Baruah said in a Monday statement. "The chamber is grateful that Dan’s colleague, Bill Emerson, will be taking his place on stage at the conference.”
Gilbert's medical issue has stoked concerns over the day-to-day operations of his empire of companies — which include the Cleveland Cavaliers, three casinos and Fathead — as well as his real estate investments in Detroit.
But Gordon said Monday that Gilbert's group of companies will be in good shape because the billionaire has done a great job of hiring strong people to keep the businesses going in his absence.
Quicken Loans Vice Chairman Bill Emerson is replacing hospitalized company Chairman Dan Gilbert at this week's Mackinac Policy Conference. (Photo: Max Ortiz, The Detroit News)
"People at the operation level can keep the company going for a while,” said Gordon.
“They understand their role and his vision,” Gordon said. “He’s built a strong team. It’s not a one-man band.”
Gilbert, a 57-year-old Franklin resident, is founder and chairman of Quicken Loans, ranked as the nation's largest mortgage lender. Gilbert's Rock Family of Companies employs more than 30,000 people around the nation, including more than 17,000 in Detroit.
Part of Detroit's turnaround has been credited to Gilbert's investment in the city's central business district. He moved his employees from Livonia and other suburbs to a Detroit headquarters starting in 2010.
As Gilbert bought other companies or provided funding for startups, those firms filled the more than 100 buildings he bought and oftentimes renovated around the city in his bid to help transform Detroit into a "great American city." He also has envisioned turning the city into a magnet for technology companies and has succeeded in luring local offices for Google and Twitter.
Gilbert's Bedrock real estate firm and its affiliate have invested and committed more than $5.6 billion in its efforts to help revitalize Detroit.
The billionaire is not the only person contributing to Detroit's renaissance through his real estate investments and developments, Gordon said. But “he is the symbol of the (city’s) switch from negativity to a turnaround in Detroit’s spirit."
Gilbert's illness also could affect the completion of the Wayne County jail land swap project, Gordon said.
Gilbert's Rock Ventures is receiving 15.5 acres of property where a half-built jail now stands on the edge of Greektown, and the billionaire has vowed to construct an unidentified $1 billion in mixed-use developments. In return, he is helping finance the construction of a new criminal justice complex on other land in the city.
Such a large project could be slowed up by Gilbert's hospitalization, Gordon said.
But the mortgage lender has built a strong team and “avoided the trap of 'It's all me,'” he said.
FUN FACT! DAN GILBERT HAS A TINY HUMANS FOUNDATION
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| https://www.gilbertfamilyfoundation.org/transform-detroit/ |
And this is what he is doing with the tiny humans in Detroit where there was $2.5 million directed to Michigan State University.
Dan likes data.
He likes to manipulate data, like what he does with elections.
That is called gerrymandering.
Dan Gilbert suffers stroke: Facts about his family, net worth, real estate empire
A look at some of the iconic Detroit buildings Dan Gilbert and his companies own. Tanya Wildt, Detroit Free Press
Also read:Dan Gilbert's stroke a reminder it can happen at any age
He likes to manipulate data, like what he does with elections.
That is called gerrymandering.
Detroit billionaire Dan Gilbert, founder of Quicken Loans, was hospitalized after suffering stroke symptoms Sunday at Beaumont Hospital in Royal Oak. He was treated for a stroke and is recovering. Here are a few facts about the man who is responsible for much of downtown Detroit's recent growth and who also owns the NBA's Cleveland Cavaliers.
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| Cleveland Cavaliers owner Dan Gilbert congratulates his son Nick Gilbert after the team won the NBA basketball draft lottery, Tuesday, May 21, 2013 in New York. |
Net worth
$7.3 billion
Personal
Birthdate and place: Jan. 17, 1962, in Detroit
Age: 57
Spouse: Jennifer Gilbert
Children: Four sons, one daughter. Gilbert's son Nick has a rare genetic disorder called neurofibromatosis, which causes tumors to grow throughout his body. Dan and Jennifer Gilbert founded the Gilbert Family Foundation to help fight for a cure.
Education
High school: Southfield-Lathrup in Lathrup Village, Michigan
Michigan State University: Bachelor's
Wayne State University Law School: Juris Doctor
Major companies
Gilbert's holdings include dozens of companies and smaller enterprises, including many tech startups. He recently sold his Greektown Casino-Hotel for $1 billion but continues to own other casinos in Maryland and Ohio, according to Quicken's website. Among the companies:
- Rock Ventures: The holding company that connects Gilbert's portfolio of more than 100 companies.
- Cleveland Cavaliers: Gilbert bought this NBA team in 2005 for $375 million. Forbes magazine estimated the team was worth more than $1.3 billion in late 2018, but also estimated the team lost $6 million on operations in 2017.
- Quicken Loans: Gilbert's online mortgage lender is the mother ship of Gilbert's family of companies. Gilbert founded Quicken in 1985 as Rock Financial and has built it into one of the nation's top mortgage lenders.
- Bedrock: This company acquires and manages commercial properties in Detroit and Cleveland.
- Rocket Fiber: This launched in 2014 to provide Detroit's fastest home and business internet service.
- StockX: Allowing for day trading for consumer goods, this company is billed as the first online consumer "stock market of things" for high-demand products like expensive sneakers.
- Dictionary.com: Gilbert's Rock Holdings purchased the websites Dictionary.com and Thesaurus.com from New York-based media firm IAC in November 2018. The websites date to 1995 and are free for public use. They feature a significant amount of online advertisements.
Real estate
Gilbert moved Quicken Loans to downtown Detroit in 2010. Today, his companies own or control through master leases somewhere in the range of 100 properties, including many of downtown's iconic skyscrapers — the First National, One Woodward, 1001 Woodward and more. Gilbert's companies also own One Campus Martius, David Stott Building, Detroit Media Partnership Building (former home of the Detroit Free Press and the Detroit News), Chrysler House, Federal Reserve Building (current home of the Free Press and Detroit News), Shinola Hotel, Madison Building, and more. His downtown workforce has swelled to about 17,000 workers who fill up all these properties.
US v Quicken Loans OPINION AND ORDER GRANTING IN PART AND DENYING IN PART DEFENDANT QUICKEN LOANS INC.’S MO... by Beverly Tran on Scribd
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