Dan Gilbert, owner of the Cleveland Cavaliers, made a $60 million bid to acquire the Robb Report, a luxury lifestyle magazine for the well-heeled reader. The magazine is said to have a profit to the tune of $10 million a year. Bill Curtis of CurtCo Robb Media, is partial to Gilbert’s Rock Ventures bid over the others, because Gilbert will enable Curtis to retain autonomy over the publication and has promised to keep the board intact. It is likely that Gilbert, who had the talent and persuasiveness to bring Lebron James back to his team, might win this bid for the magazine, although this is his first foray into the world of publishing. Prior to owning the cavaliers, Gilbert ran Quicken Loans, the leading online mortgage originator in the U.S.
Dan Gilbert, 52, was born in Detroit to a Jewish family and graduated from Michigan State University and has a Juris Doctor from Wayne State University Law School. In addition to owning the Cleveland Cavaliers, he also has a stake in the American Hockey League’s Lake Erie Monsters and Arena Football League’s Cleveland Gladiators.