In 2013, Quicken Loans founder and Chairman Dan Gilbert bought up so much Detroit real estate that he became the city’s second-largest private property owner after General Motors. In what locals call the “Dan Gilbert effect,” investors are developing more housing downtown to meet demand from workers, 11,500 of whom are employed by Gilbert. Quicken Loans claims to be the largest online home lender and the third-largest retail lender in the United States. In 2012, Quicken Loans closed more than $70 billion in home loan volume, a 133 percent jump over the $30 billion previous record set in 2011, the company said. Gilbert is chairman of Rock Ventures LLC, the umbrella company for his investments and real estate; a founding partner of Detroit-based private equity group Rockbridge Growth Equity LLC; a principal of venture capital firm Detroit Venture Partners; and founder of nonprofit entrepreneurial academy Bizdom. He is also the majority owner of the NBA’s Cleveland Cavaliers and other sports teams.
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