Stephen Ross
American property developer; founder of Related Companies and owner of the Miami Dolphins
| Stephen Ross
| |
|---|---|
| Image | .jpg) Stephen Ross |
| Born | 10 May 1940 (Forbes) |
| Nationality | American |
| Residence | Palm Beach, Florida, United States (Forbes) |
| Occupation | Property developer |
| Known for | Founder of Related Companies; owner of the Miami Dolphins; Hudson Yards |
| Children | 4 (Forbes) |
| Education | University of Michigan (BA); Wayne State University (JD); New York University (LLM) (Forbes) |
Stephen M. Ross (born 1940) is an American property developer. He founded Related Companies in 1972 and owns the Miami Dolphins American football team.[1][2][3] A former tax lawyer, he built Related from an affordable-housing developer into a firm that, by its own account, holds more than US$70 billion in assets, including the Hudson Yards development on Manhattan's West Side.[3][1][2] On 20 October 2026 the Forbes Real-Time Billionaires list ranked Stephen Ross 121st in the world, with an estimated net worth of US$21.51 billion; Forbes lists the source of wealth as Real estate.[3][4] In the annual World's Billionaires list published in 2026, Forbes had ranked Stephen Ross 169th, at US$17 billion.[5] He is the University of Michigan's largest single donor.[6][1] In August 2019 he hosted a fundraiser for President Donald Trump at his Southampton home, which led to boycott calls against Equinox and SoulCycle, in which he is an investor.[7][8] In 2022 the NFL suspended and fined him over tampering violations by the Dolphins.[9]
Early life and education
Forbes gives his date of birth as 10 May 1940. It lists a bachelor's degree from the University of Michigan, a law degree from Wayne State University and a Master of Laws from New York University.[3] Forbes says he worked as a tax attorney before founding Related, and that his uncle was the oil businessman Max Fisher.[3]
Related Companies
Related's own history says Ross founded the company in 1972 as a financier and developer of affordable housing. It later moved into market-rate housing, offices, retail and mixed-use schemes. Milestones it lists include winning the bid for the Time Warner Center in New York, CityPlace in West Palm Beach, and the first phase of Hudson Yards, a 28-acre development on Manhattan's West Side.[2] Forbes says Hudson Yards opened to the public in March 2019 after a decade of planning and building, and that Related has developed or acquired more than US$60 billion of property.[3] Related's leadership page now describes him as founder and non-executive chairman, puts the firm's assets at more than US$70 billion, and calls it among the largest US owners of affordable housing.[1]
In December 2007 Related announced its first outside investment, worth nearly US$1.4 billion. Goldman Sachs and MSD Capital bought equity stakes totalling 7.5%, and an affiliate of Mubadala Development Company and The Olayan Group took part in a debt placement. The investors got no role in governing the company.[10] Related says it later expanded abroad by buying the London developer Argent to form Related Argent, continued the King's Cross regeneration and launched Brent Cross Town in London.[2]
Forbes says Ross set up a separate firm, Related Ross, in West Palm Beach, Florida, in July 2024.[3] Related's leadership page calls him its chairman and chief executive.[1]
Sports and other interests
Ross became chairman and owner of the Miami Dolphins and Hard Rock Stadium in 2009. The club says he has put more than US$1 billion of his own money into modernising the stadium.[11] Related says he chairs the Formula 1 Miami Grand Prix, helped bring the Miami Open tennis tournament to Hard Rock Stadium, and is chairman and co-founder of the venture firm RSE Ventures.[1] Forbes says he sold a 13% stake in the Dolphins, the Grand Prix and the Miami Open to Ares Management and the owners of the Brooklyn Nets in December 2024, at an US$8.1 billion valuation.[3] On 31 March 2026 the NFL approved the sale of a 1% non-controlling interest to Lin Bin, the co-founder and vice-chairman of the Chinese electronics company Xiaomi, at a valuation the club put at US$12.5 billion.[11]
Related's history page records an investment in Equinox Fitness Clubs in the 2000s. Its leadership page lists Ross as an investor in Equinox Fitness Clubs, Equinox Hotels and SoulCycle.[2][1]
Wealth
Forbes lists real estate as his source of wealth and classes him as self-made.[3]
Wealth history
Forbes has included this entry in its annual World's Billionaires list in 20 of the editions from 2001 to 2026 checked for this profile, starting with 2007. The table gives the rank and estimated net worth in each annual list, and, where applicable, the rank and estimate in the Forbes 400 list of the richest Americans.[5][3]
| Year | World's Billionaires rank | Net worth (US$ bn) | Forbes 400 rank | Forbes 400 net worth (US$ bn) |
|---|---|---|---|---|
| 2006 | – | – | 117 | 2.5 |
| 2007 | 369 | 2.5 | 68 | 4.5 |
| 2008 | 227 | 4.5 | 78 | 4.5 |
| 2009 | 191 | 3.2 | 110 | 2.9 |
| 2010 | 277 | 3.4 | 101 | 3.1 |
| 2011 | 362 | 3.1 | 114 | 3.1 |
| 2012 | 367 | 3.1 | 83 | 4.4 |
| 2013 | 286 | 4.4 | 94 | 4.8 |
| 2014 | 263 | 5.4 | 83 | 6.0 |
| 2015 | 216 | 6.5 | 71 | 6.7 |
| 2016 | 80 | 12.0 | 58 | 7.4 |
| 2017 | 186 | 7.4 | 65 | 7.5 |
| 2018 | 205 | 7.6 | 65 | 7.6 |
| 2019 | 191 | 7.6 | 66 | 7.6 |
| 2020 | 185 | 7.6 | 74 | 7.2 |
| 2021 | 369 | 7.0 | 102 | 8.3 |
| 2022 | 267 | 8.2 | 52 | 11.6 |
| 2023 | 147 | 11.6 | 70 | 10.1 |
| 2024 | 221 | 10.1 | 44 | 17.0 |
| 2025 | 111 | 18.4 | 59 | 17.0 |
| 2026 | 169 | 17.0 | 56 | 21.5 |
Philanthropy
In September 2017 the University of Michigan announced a further US$50 million gift from Ross, taking his lifetime giving to US$378 million. It described him as the university's single largest donor and chair of its Victors for Michigan campaign.[6] Forbes puts his total giving to the university at US$480 million, including US$100 million announced in February 2020.[3] Related says he set up the WRI Ross Center for Sustainable Cities, founded the Ross Initiative in Sports for Equality (RISE), and has signed the Giving Pledge.[1]
Political activity
On 9 August 2019 Ross hosted a lunch fundraiser for President Donald Trump at his home in Southampton, New York.[7][8] Axios cited The Washington Post's report that tickets cost US$100,000 for a photo opportunity and lunch, and US$250,000 with a roundtable discussion.[8] After customers threatened boycotts, Equinox and SoulCycle said they did not support the event and called Ross a passive investor not involved in managing either business.[7] In a statement, Ross said he had known Trump for 40 years and disagreed with him on many issues. He described himself as a champion of racial equality, inclusion, diversity, public education and environmental sustainability, and said he supported leaders on both sides of the aisle.[7] Axios, citing unnamed sources, reported that he had privately voiced qualms and that Trump associates persuaded him to go ahead.[8] Dolphins wide receiver Kenny Stills publicly criticised the event, pointing to the mission of RISE.[7]
The FEC records retrieved for this profile (contributions listing Related as employer, March 2021 to April 2026) total about US$806,000 excluding memo entries. They are mostly to Republican committees: Take Back the House 2022 (US$150,000), Security Is Strength PAC (US$125,000), the McCarthy Victory Fund (US$75,000), the NRSC (US$73,000) and the Oz Victory Fund (US$44,400). There are also contributions to Urban Empowerment Action PAC (US$50,000), Democracy Protection PAC (US$25,000), Our Hudson PAC (US$25,000) and the Friends of Mitt joint fundraising committee (US$25,000).[12]
Across the 61 non-memo records retrieved for the 2022–2026 cycles, the filtered total is US$806,200 (a lower bound). The largest recipient committees, as named in the filings, were TAKE BACK THE HOUSE 2022 (US$150,000), SECURITY IS STRENGTH PAC (US$125,000), MCCARTHY VICTORY FUND (US$75,000), NRSC (US$73,000), URBAN EMPOWERMENT ACTION PAC, INC. (US$50,000).[12]
| Cycle | Total (US$, lower bound) | Records | Largest recipient committees (as filed with the FEC) |
|---|---|---|---|
| 2022 | $578,900 | 38 | TAKE BACK THE HOUSE 2022 ($150,000); MCCARTHY VICTORY FUND ($75,000); URBAN EMPOWERMENT ACTION PAC, INC. ($50,000); OZ VICTORY FUND ($44,400) |
| 2024 | $103,300 | 18 | NRSC ($36,500); GRIDIRON-PAC ($9,000); JASON SMITH FOR CONGRESS ($6,600); JERRY CARL FOR CONGRESS ($6,600) |
| 2026 | $124,000 | 5 | SECURITY IS STRENGTH PAC ($100,000); MARK WARNER ACTION FUND ($10,500); FEELY FOR CONGRESS ($5,000); GRIDIRON-PAC ($5,000) |
Controversies and legal issues
In August 2022 the NFL announced the results of a six-month investigation led by the former US Attorney and SEC chair Mary Jo White. It found that the Dolphins had broken the league's anti-tampering policy three times, through contacts with the quarterback Tom Brady in 2019–20 and 2021–22 and with the agent of the New Orleans Saints coach Sean Payton in January 2022. It said Ross and the limited partner Bruce Beal took part in the discussions.[9] Ross was suspended until 17 October 2022, barred from league meetings before the 2023 annual meeting, removed from all league committees indefinitely and fined US$1.5 million. The club also lost its 2023 first-round and 2024 third-round draft picks.[9] The investigation found that the Dolphins had not deliberately lost games in 2019. It said comments Ross made to the head coach Brian Flores about draft position did not affect Flores's commitment to winning.[9]
International and political links
This section uses the same ten headings for every profile in this series. Only specific, sourced actions are included; company-level and foundation-level actions are labelled as such. Where nothing was found, the entry reads "No documented involvement found in sources checked."
Israel (investments, operations, donations, contracts, statements)
No documented involvement found in sources checked.
Zionist or pro-Israel organisations and lobbying groups
No documented involvement found in sources checked.
Jewish communal charities
No documented involvement found in sources checked.
Gulf states
Company level: Related's 2007 outside-investment round included debt placed with an affiliate of Abu Dhabi's Mubadala Development Company and the Saudi-based Olayan Group.[10] In 2009 Related and the Abu Dhabi firm Gulf Capital launched Gulf Related, based in Abu Dhabi. It was to pursue large mixed-use developments, first in Abu Dhabi and Saudi Arabia, with initial capital of AED 180 million (US$50 million). The release also names the Kuwait Investment Authority among the 2007 investors.[13]
China
In March 2026 the NFL approved the sale of a 1% interest in the Dolphins and Ross's associated sports holdings to Lin Bin, co-founder and vice-chairman of Xiaomi.[11]
Russia
No documented involvement found in sources checked.
India
No documented involvement found in sources checked.
Palestinian or Arab causes
No documented involvement found in sources checked.
Home government
No documented involvement found in sources checked.
Other international links
Related operates in London through Related Argent (King's Cross, Brent Cross Town).[2]
See also
External links
Notes
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Related Companies, Stephen M. Ross – Founder and Non-Executive Chairman Related Companies (official website), undated; read 21 October 2026, accessed 21 October 2026.
- ↑ 2.0 2.1 2.2 2.3 2.4 2.5 Related Companies, Our History Related Companies (official website), undated; read 21 October 2026, accessed 21 October 2026.
- ↑ 3.00 3.01 3.02 3.03 3.04 3.05 3.06 3.07 3.08 3.09 3.10 Forbes, Forbes profile record for Stephen Ross (Forbes data feed behind forbes.com/profile/stephen-ross/) Forbes, live record, read 21 October 2026, accessed 21 October 2026.
- ↑ Forbes, Forbes Real-Time Billionaires data feed Forbes, live; downloaded 20 October 2026 11:51 UTC, accessed 21 October 2026.
- ↑ 5.0 5.1 Forbes, Forbes World's Billionaires list data feed, annual editions 2001–2026 (one file per year at this path with the year substituted; all 26 files downloaded and read) Forbes, annual lists; downloaded 20 October 2026, accessed 21 October 2026.
- ↑ 6.0 6.1 Greta Guest, Stephen Ross gives additional $50 million to U-M, bringing total lifetime giving to $378 million University of Michigan News, 20 September 2017, accessed 21 October 2026.
- ↑ 7.0 7.1 7.2 7.3 7.4 Tucker Higgins, Equinox, SoulCycle say they 'do not support' Trump fundraiser hosted by chairman CNBC, 7 August 2019 (updated 8 August 2019), accessed 21 October 2026.
- ↑ 8.0 8.1 8.2 8.3 Jonathan Swan, Stephen Ross expressed qualms about Trump bash after liberal backlash Axios, 9 August 2019, accessed 21 October 2026.
- ↑ 9.0 9.1 9.2 9.3 National Football League, NFL announces findings and discipline following independent investigation of integrity of the game policy violations by the Miami Dolphins NFL.com, undated on page (August 2022; suspension ran to 17 October 2022), accessed 21 October 2026.
- ↑ 10.0 10.1 Related Companies, Related Companies announces $1.4 billion equity and debt investment by elite consortium Related Companies (press release), 17 December 2007, accessed 21 October 2026.
- ↑ 11.0 11.1 11.2 Miami Dolphins, Miami Dolphins announce sale of limited interest to Bin Lin Miami Dolphins (official website), 31 March 2026, accessed 21 October 2026.
- ↑ 12.0 12.1 U.S. Federal Election Commission, OpenFEC Schedule A (itemised individual contributions) query, contributor name "ROSS, STEPHEN"; 2026 cycle shown in link, the 2022, 2024 and 2026 cycles were queried together with the same parameters; top 100 records by amount; records filtered by employer/occupation and name, memo entries excluded U.S. Federal Election Commission, data as filed; queried 20 October 2026, accessed 21 October 2026.
- ↑ Related Companies, Gulf Capital and Related Companies join forces and launch a ground-breaking mixed-use real estate development venture 'Gulf Related' Related Companies (press release), 15 June 2009, accessed 21 October 2026.