Steven Rales Net WorthReal Name: Steven Rales
Date of Birth: 1951
Place of Birth: Maryland
2017 Net Worth: $3.9 Billion
Profession: Co-founder and Co-owner of Danaher Corp.
Steven Rales Biography
Steven Rales was born in 1951, one of four sons born to Norman and Ruth Rales. His father sold his building supply company and began to sell real estate. Rales graduated from Walt Whitman High School in Bethesda, Maryland, then entered DePauw University. Rales earned a JD from American University in 1978.
Directly out of college, Rales worked for his father’s real estate firm for only one year before leaving to found Equity Group Holdings, along with his brother Mitchell. Using junk bonds, the first business they purchased was a vinyl siding manufacturer, Mastershield. This company earned enough income for Rales to begin purchasing other businesses including Mohawk Rubber Company, then Diversified Mortgage Group. Rales changed the name to Diversified Mortgage Investors, then the brothers decided to change the name to Danaher, a river they used to fish in when they were children, in 1984. Rales has gone on to purchase no less than 36 companies. None of them are dramatic or flashy, but every one of them pays off handsomely. Danaher Corp has survived the financial crises of the 1980’s and the 1990’s. In early 2015, the company had a market cap of more than $60 billion.
Rales and his brother also founded a Richmond, Virginia industrial pump manufacturer, Colfax Corporation, in 1995. Rales engineered the public offering of this company in May of 2008. He also owns a production company called Indian Paintbrush, which has funded the making of The Darjeeling Limited in 2007, Fantastic Mr. Fox, Moonrise Kingdom, Labor Day, and The Grand Budapest Hotel in 2014. Most of these films were very successful with a few of them being extremely successful.
Rales is married to Christine Plank and the couple have three children. Rales is private and almost never answers interviewers or requests for information. With a net worth of $3.9 billion and climbing, Rales doesn’t need to answer to anyone.