|Owner, Miami Dolphins
|Position Last Year
Stephen Michael Ross (born May 10, 1940) is an American real estate developer, philanthropist, and sports team owner. Ross is the chairman and majority owner of The Related Companies, a global real estate development firm he founded in 1972. Related is best known for developing the Deutsche Bank Center, where Ross lives and works, and the Hudson Yards Redevelopment Project.
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According to Forbes magazine, Ross had a net worth of $7.6 billion in 2020, ranking him 185 on Forbes Billionaires List in 2020. Having doubled his net worth since 2008, he paid no income taxes in the next decade utilizing the losses on his properties. Ross is also the principal owner of the Miami Dolphins and Hard Rock Stadium.
After years of local opposition, it was announced in April that Formula 1 had secured a deal to host a Grand Prix around the Hard Rock stadium owned by no other than Stephen Ross.
Ross persuaded the local authorities of a race’s economic benefits, creating 4,000 new jobs, 35,000 local hotel bookings, and over $400m in a positive economic impact on the city each year.
Ross had skirted with F1 previously when he entered the race to buy the series from owners CVC Capital in 2016. He joined forces with Qatar through its Qatar Sports Investment vehicle.
Ross pitched he could bring promotional and marketing skills to expand the series in the lucrative American and Asian markets. Ultimately, he could not match Liberty Media, who attempted to purchase the series again after losing out to CVC Capital Partners. The rumour was when Ross walked away from the table, he had got an agreement to host a race in Miami.
All is not rosy in the garden for Ross as he has split from his wife of 18 years, Kara, a jewellery designer with an impressive client list that includes Michelle Obama and Oprah Winfrey. Fortunately for him, his fortune is not at risk due to a pre-nuptial agreement, limiting the settlement to $200 – $300m.
Ross is a long-time associate of Donald Trump and has donated money to the Democratic and Republican parties.
Ross does not own the obligatory superyacht, unlike fellow NFL owners Daniel Snyder (Washington Redskins), Shad Khan (Jacksonville Jaguars), Arthur Blank (Atlanta Falcons), and Jerry Jones (Dallas Cowboys).
Ross has two children from his first marriage. In April 2021, it was public that he was divorcing his second wife, Kara (née Gaffney) Ross, after 18 years of marriage. He has two stepchildren with Gaffney. Ross resides in Southampton, New York.
Besides his home in the Deutsche Bank Center in Manhattan, Ross also owns an 11,000-square-foot oceanfront mansion in Palm Beach named “The Reef”.
Stephen Ross earned a lot of money from the first-ever Formula 1 event at Hard Rock Stadium in Miami. The money made by Ross was reportedly more than what he generates from Miami Dolphins’ season home games.prev View full list next