Spartan Profiles: Dan Gilbert
QUICKEN THE CAVALIERS
In 1985, during his first year as a law student after graduating from MSU, he founded a company, Rock Financial, that later evolved into Quicken Loans, Inc., the nation’s largest online retail home lender with about $12 billion in residential mortgage loans in 2004. In March, chairman and founder Dan Gilbert, ’83, decided to apply his business acumen to professional basketball. He and his partners bought the Cleveland Cavaliers—lock, stock and Lebron James (as well as former Spartan Eric Snow). “Ownership of the Cleveland Cavaliers is an honor and a privilege,” says Gilbert, who won the highly coveted “Entrepreneur of the Year” award from Ernst & Young in 1999 and made the Junior Achievement Hall of Fame in 2003. “Cleveland has been waiting a long time for a national sports title and we hope to deliver one to them very soon.”
Dan knows winning. His company was ranked by Fortune magazine as the 12th best of “100 Best Companies To Work For.” His secrets? First, he says, “ignore the noise,” which means going around the naysayers. Secondly, provide great service. “We hire great people, give them the tools they need to succeed, and then get out of the way!” says Dan. “We also make this the Disneyland of workplaces.”
A native of Southfield, Dan never considered attending any university other than MSU. “I always knew I’d go to MSU,” he says “A lot of my friends went to State and it was the place to be.” He says he enjoyed his experience at MSU. “One thing I value most about MSU was the many friendships that formed there,” he recalls “It was great meeting people from all over the state and the country. We had a tight group of friends and many are still good friends of mine today. Some of them work with me here at Rock Financial/Quicken Loans, and a few are also in the Cavaliers ownership group.”
