World’s Richest Real Estate Magnate Gains $6.2 Billion In 77 Days

Dan Gilbert is presently the world’s richest real estate billionaire and ranked the 34th richest individual with a valuation of $39.5 billion.

Dan Gilbert is presently the world’s richest real estate billionaire and ranked the 34th richest individual with a valuation of $39.5 billion. This year alone he has earned about $6.19 billion on significant appreciation seen in Rock Companies, a leading mortgage lender.

The 59-year-old, self-made billionaire is the founder and biggest shareholder of Rocket Companies, the largest home mortgage lender in the world’s biggest economy.

America’s biggest home mortgage lender joins a group of stocks this year in receiving such high demand from retail traders, that include WallStreetBets, who of late have supported heavily shorted stocks in a fight against major institutional investors often on the other side of the trade.

Gilbert’s current wealth valuation of $39.5 billion can buy 2.5 million troy ounces of gold or 583 million barrels of Crude oil.

He presently keeps about $1.88 billion in the bank and his stake at Cleveland Cavaliers is estimated to be worth $800 million at the time of writing this report. In addition, the conservative-based billionaire owns more than 100 buildings in downtown Detroit.

It’s critical to note that Quicken Loans a popular online real estate service provider, is a subsidiary of Rocket Companies and made its debut on the New York Stock Exchange last year and has relatively demonstrated improved profitability from its purchase mortgage originations.

The American-based company handled about $320 billion of mortgage volume last year alone. Gilbert is the majority owner of the Cleveland Cavaliers, a National Basketball Association franchise.