Dan Gilbert Chairman and Founder, Quicken Loans Inc. Majority Owner, Cleveland Cavaliers
Dan Gilbert is chairman and founder of Quicken Loans Inc., which consists of Quicken Loans – the nation’s largest online home lender – as well as One Reverse Mortgage, In House Realty and Title Source.
Dan is also majority owner of the NBA’s Cleveland Cavaliers, the American Hockey League’s Lake Erie Monsters, and is the operator of the Quicken Loans Arena in Cleveland, Ohio.
Quicken Loans closed more than $25 billion in home loan volume in 2009. The company employs nearly 3,000 people nationally and has been ranked in the top-30 of FORTUNE Magazine’s “100 Best Companies to Work For” the past seven years (ranking as high as #2). The company also has been ranked as one of Computerworld Magazine’s “100 Best Places to Work in Technology” the past five years, ranking #1 in 2005, 2006 and 2007.
Dan founded Rock Financial in 1985. Rock Financial grew into one of the largest independent mortgage lenders in the country. In the late 1990s, Rock launched its Internet strategy and quickly positioned itself as the fastest growing online direct mortgage lender on the Internet.
In January 2000, software maker Intuit purchased Rock Financial and the national online lending business was renamed “Quicken Loans.” With Dan as CEO, Quicken Loans became the leading national provider of home loans on the Internet. QuickenLoans.com has gone on to earn “Best of the Web” accolades from Forbes, Money and PC Magazine.
In 2002, Dan and a small group of private investors purchased Quicken Loans Inc. from Intuit.
Dan became majority owner of the Cleveland Cavaliers in March 2005 and immediately undertook a complete overhaul of the front office, coaching staff, player personnel, the Quicken Loans Arena (“The Q”) and game presentation. During Dan’s ownership, the Cavaliers won the 2007 Eastern Conference Championship, advancing to the NBA Finals for the first time in the team’s 37-year history. The team finished the 2008-2009 regular season with a franchise record and NBA-leading 66 wins; the Cavaliers are currently the only team in the NBA to advance past the first round of the playoffs in each of the prior four seasons.
Dan is a founding partner in private equity group Rockbridge Growth Equity LLC. The partnership invests in growing businesses in the financial services, Internet technology, consumer-direct marketing, and the sports and entertainment sectors.
Dan and his partners also operate and invest in several consumer-based, technology-centered businesses, including: Quizzle.com; ePrize; Fathead; Northcentral University; StyleCaster; Veritix; Xenith; Ready Financial and Protect America.
In November 2009, through his Rock Ventures partnership, Dan successfully backed a constitutional amendment bringing casino gaming to Ohio. Rock Ventures will own and operate two casinos (Cleveland and Cincinnati) expected to open mid 2012. He also is an investor and financier with Rock Companies in residential and commercial real estate developments in several states.
Dan launched Bizdom U in Detroit in 2007. The nonprofit boot camp trains, mentors and partners with aspiring entrepreneurs to open innovative, growth-oriented businesses in the cities of Detroit and Cleveland. Bizdom U’s mission is to create successful businesses, jobs, growth and wealth in large urban cities.
Gilbert serves on the boards of the Cleveland Clinic, the Children’s National Medical Center and the Children’s Tumor Foundation (CTF.org).
Gilbert earned his bachelor’s degree from Michigan State University and his law degree from Wayne State University. He has received the “Entrepreneur of the Year” award from Ernst & Young and has been inducted into the Junior Achievement Hall of Fame.
