|Birth Day:||November 7, 1956|
|Birth Place:||Potomac, Maryland, United States|
|Height:||in centimeters - N/A|
|Weight:||in kg - N/A|
With the net worth of $3.7 Billion, Mitchell Rales is the # 417 richest person on earth all the time follow our database.
Rales was born in 1956 in Pittsburgh, Pennsylvania. Raised in a Jewish family, Rales is one of four sons of Ruth (née Abramson) and Norman Rales. Norman Rales was raised in an orphanage, the Hebrew Orphan Asylum in New York City, and later became a successful businessman, who sold his building supply company in Washington, D.C. to his employees in what was the first employee stock ownership plan (ESOP) transaction in the US. Norman Rales was also a philanthropist, having founded the Norman and Ruth Rales Foundation and the Ruth Rales Jewish Family Service. Mitchell Rales has three brothers: Joshua, Steven, and Stewart.
Rales grew up in Bethesda, Maryland and graduated from Walt Whitman High School in 1974. As captain of both the high school football and baseball teams, Rales was an outstanding high school athlete. He earned a degree in business administration at Miami University in Oxford, Ohio in 1978, and was a member of Beta Theta Pi fraternity.
In 1979, Rales left his father's real estate firm to found Equity Group Holdings, with his brother, Steven M. Rales. Using junk bonds, they bought a diversified line of businesses. In 1978, they changed the name to Diversified Mortgage Investors, and then to Danaher, in 1984.
In the 1980s, the AM side of radio station WGMS was sold off to Washington, D.C., venture capitalists Steven and Mitchell Rales, who converted the music station into the first frequency for WTEM, a sports-talk station, in 1992. In 1988, he made a hostile takeover bid for Interco, Inc, which was, at the time, the nation's largest manufacturer of furniture and men's shoes (owning both Converse shoes and the Ethan Allen furniture). He later ended the bid after five months with a profit of $60 million.
In 1995, Rales and his brother founded Colfax, a Richmond, Virginia industrial pumps manufacturer, which had an initial public offering in May 2008.
Rales and his wife, Emily Wei Rales, developed and financed Glenstone, a contemporary art museum in Potomac, Maryland. The museum first opened in 2006 and displays the Rales's collection of post-World War II art, including paintings, sculptures, and both indoor and outdoor installations. A major $219 million expansion to Glenstone was opened in 2018 that increased both the gallery space and the wooded land surrounding the galleries. The museum is free and open to the public via online booking.
Rales has expressed a strong desire to spend his money philanthropically, saying to the Washington Post in 2018, "When we go, there's not going to be money bestowed on children and grandchildren in any meaningful way. This is about reallocating the money we had the good fortune of making to other causes." Rales is the president of the National Gallery of Art and is a former board member of the Hirshhorn Museum.
|#2||Steven M. Rales||Siblings||N/A||N/A||N/A|
Currently, Mitchell Rales is 65 years, 7 months and 22 days old. Mitchell Rales will celebrate 66th birthday on a Monday 7th of November 2022. Below we countdown to Mitchell Rales upcoming birthday.