Quote Originally Posted by Gistok View Post
^^

What??

Dan Gilbert could get 10's of billions of dollars in CASH... and you don't think it might help Detroit??

Dan Gilbert signed the same pact as Bill & Melinda Gates and Warren Buffet... to give away their money to philanthropy. With Dan Gilbert... charity [[of sorts) always begins at home.

Just look at how much help the late Ralph Wilson [[of Grosse Pte. Shores) is doing for Detroit and Buffalo. His legacy [[$1.2 billion fortune) is being given away to both cities within 20 years... at the tune of about $50 million yearly to each city. Wilson's charity is paying entirely for that park on the west side with the inlet and beach.

Dan Gilbert could do sooooo much with his money to help Detroit... even besides the rehabilitation [[and building) of over 100 buildings downtown.

Selling a chunk of Quicken Loans could do so much more for Detroit... if he so chooses.

He had a near death experience in 2019... and maybe his outlook on life is not to work himself to death... but to do good and leave a legacy to the city he loves.

I may be way overly optimistic... but there is a lot he could do for the city he loves.
He doesn't have to take the company public to sell stakes in the company, but they have calculated that an IPO is the best way to raise money right now. Also, this type of IPO is different from IPOs that we see in tech, because so much of Quicken is held by Gilbert himself. With tech companies, a lot of the company is usually owned by employees, so a large IPO can create 100s of millionaires at once. I don't think many Quicken employees actually hold a stake in the company, so it's hard to see how this really changes the dynamic.