9. Stephen Ross

Stephen ross
Age 81
Net worth $7,5bn
Source of wealth The Related Companies
Nationality American
F1 involvement Circuit promoter

Stephen Ross is an American real estate tycoon who started in 1972 with $10,000 he borrowed from his mother.

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He is best known for the Time Warner Centre and the ‘playground for billionaires’ The Hudson Yards redevelopment project in New York.

He owns fitness brands Equinox and Soul cycle and the NFL franchise the Miami Dolphins, which he purchased for $1.1bn in 2008/2009, which has now a value of $2.9bn.

In April, after years of local opposition, it was announced Formula 1 had secured a deal to host a Grand Prix around the Hard Rock stadium owned by none other than Stephen Ross.

Ross persuaded the local authorities of the economic benefits a race would bring, creating 4,000 new jobs, 35,000 local hotel bookings, and over $400m in a positive economic impact to the city each year.

Ross had skirted with F1 previously when he entered the race to buy the series from owners CVC Capital back in 2016.

Ross 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.

In the end, he could not match Liberty Media, who were attempting to purchase the series for a second time after previously losing out to CVC Capital Partners.

The rumour was when Ross walked away from the table; he has 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 that exists, limiting the settlement to between $200 – $300m.

Ross is a long-time associate of Donald Trump and has donated money to both the Democratic and Republican parties throughout the years.

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 holds several esteemed positions at various non-profits and institutions, from health care to arts and culture, and is an established philanthropist.

What influence does Stephen Ross have in F1?

As Liberty Media’s long-term business model involves an increased presence in the American market, establishing the Miami race is a crucial piece of the jigsaw.

The last word goes to Ross; after being fired from investment bank Bear Stearns he claimed, “It was the best thing that happened to me.”

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