Who is billionaire Stephen Ross – now facing backlash after hosting Donald Trump fundraiser?
American, 79, reportedly worth US$7.7 billion, criticised over US$100,000-a-ticket event by members of Equinox and SoulCycle gyms owned by his company
Billionaire New York real estate mogul Stephen Ross has faced a backlash since reports emerged that he was hosting a re-election fundraiser for US President Donald Trump at the home of another of Trump’s supporters in The Hamptons, New York.
Ross, 79, is chairman of Related Companies, which owns the popular gym chains Equinox and SoulCycle, and many angry people threatened to give up their memberships after hearing about his August 9 fundraising event, which saw guests pay at least US$100,00 for tickets, The Washington Post reported.
I always have been an active participant in the democratic process. While some prefer to sit outside the process and criticise, I prefer to engage directly and support the things I deeply care about
Equinox posted a Twitter statement on August 7, which said it did not support the event. SoulCycle also issued a statement the same day, which said the company “in no way endorses the political fundraising event”.
In response to the backlash, Ross, who is married with four children, told The Miami Herald: “I always have been an active participant in the democratic process. While some prefer to sit outside the process and criticise, I prefer to engage directly and support the things I deeply care about.”
In the statement, Ross also said he has known Trump for 40 years, and “while we agree on some issues, we strongly disagree on many others, and I have never been bashful about expressing my opinions”.
Ross has an estimated net worth of US$7.7 billion, according to Forbes magazine.
While [Donald Trump and I] agree on some issues, we strongly disagree on many others, and I have never been bashful about expressing my opinions
He is known as the man behind New York’s Time Warner Center complex, featuring upmarket retail shops, office and residential flats, and also the most expensive real estate development in US history – Hudson Yards, in Manhattan.
The part-finished development will include 16 properties including offices, residential flats, a school, shopping centre and cultural facilities when it is completed in about 2025.
Ross is also the owner of the NFL American football team Miami Dolphins.
Check out Ross’ life and fortune
