Steve Stephen Ross photo source Miami Dolphins
Stephen Ross, the principal owner of the Miami Dolphins NFL team and the Hard Rock Stadium in Miami, is stepping down as the head of the real estate firm he founded Related Companies. The 84-year-old billionaire said he will now concentrate on working in the South Florida real estate market.
His new company will be called Related Ross and will be entirely separate from Related Companies.
“I have a real passion for building — companies, communities and cities,” Stephen Ross wrote in a letter he sent to colleagues. “It’s why I started this company 52 years ago and it’s what fuels me to this day.”
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Stephen Ross’ departure comes as Related Companies revealed plans to build 1,200-foot residential skyscraper on Madison Avenue in Manhattan. The new luxury condominium building to be located at 625 Madison Ave. will include next-door 39 E. 58th St. Related purchased the property for $632 million from SL Green.
Related Companies is a prominent American real estate firm headquartered in New York City. Founded in 1972 by Stephen Ross, the company has grown into a global development giant with a diverse portfolio. With over 45 years in the industry, Related Companies has a proven track record of success. They possess expertise in nearly every aspect of real estate development, from design and construction to acquisitions, management, and financing.
Related Companies doesn’t limit itself to one category. Their portfolio encompasses a wide range of property types.
Stephen Ross is a prominent American businessman who wears many hats: real estate developer, philanthropist, and sports team owner. He founded Related Companies in 1972, which has become a global real estate development giant and is known for projects like the Deutsche Bank Center and the Hudson Yards Redevelopment Project in New York City. Related is involved in various property types, including residential, retail, and office spaces.
Mr. Ross is also Chairman and co-founder of RSE Ventures, a multi-national technology, sports and entertainment venture firm. RSE has invested in and incubated a number of diverse businesses and has also created and launched the International Champions Cup, a global pre-season soccer tournament.
Stephen Ross is also a major donor to his alma mater, the University of Michigan, with donations exceeding $478 million. The university’s business school is named the Ross School of Business in his honor.
