Steven M. Rales (born March 31, 1951) is an American businessman and film producer. He founded Danaher Corporation in 1984 with his brother Mitchell Rales and is chairman of the board. Rales also founded the film production company Indian Paintbrush in 2006, which works closely with filmmaker Wes Anderson. Rales' net worth was estimated by Forbes in July 2023 to be over $7.3 billion.
Raised in a Jewish family,[1] Rales is one of four sons of Ruth (née Abramson) and Norman Rales.[2] His father was raised in an orphanage, the Hebrew Orphan Asylum in New York City, and became a businessman, who sold his building supply company in Washington, D.C. to his employees in what was the first employee stock ownership plan transaction in the US.[3] His father was also a philanthropist, founding the Norman and Ruth Rales Foundation and the Ruth Rales Jewish Family Service.[4][5]
In 1979, he left his father's real estate firm to found Equity Group Holdings with his brother Mitchell Rales. Using junk bonds, they bought a diversified line of businesses: first Mastershield, a vinyl siding manufacturer, then Mohawk Rubber Company, then Diversified Mortgage Group. They changed the name to Diversified Mortgage Investors, in 1978, and then Danaher in 1984.[7] He has served as Danaher's Chairman of the Board since January 1984.[8] In 1985, they bought Easco Corporation, the then-largest independent aluminum extrusion manufacturer and hand tool manufacturer which produced the Craftsman brand of sockets and wrenches for Sears.
In 1988, they made a hostile takeover bid for Interco, a conglomerate comprising manufacturers as diverse as Converse shoes and Ethan Allen furniture.[9][10] When the company responded with a poison pill, they sued, and prevailed in court.[11] They later ended the bid after five months with a profit of $60 million.[12]
In 1992, the AM side of WGMS was sold off to the Rales brothers who converted the music station into the first frequency for WTEM, the first full-time sports talk radio station in the Washington metropolitan area. He and his brother founded Colfax Corporation in 1995, an industrial pumps manufacturer based in Richmond, Virginia. In 2008, Rales engineered the initial public offering of the company.[13] His net worth was estimated by Forbes in July 2023 to be $7.3 billion.[14]
Rales was married to Christine Plank from 1983 to 2003.[17][18] They have three children: Alexander, Gregory, and Stephanie.[19][20][21] He married Lalage Damerell in 2012.[22] His stepdaughter is former Central Intelligence Agency (CIA) officer, Amaryllis Fox, who is married to Robert F. Kennedy III, a grandson of Robert F. Kennedy. [1]
Rales was a major donor in the 2002 dedication of the Peeler Art Center at DePauw.[23]
Referencesedit
^Washington Jewish Week: "Five local Jews make Forbes richest list" September 5, 2012, at the Wayback Machine October 7, 2009
^"Obituary On Sunday, March 28, 2004, Ruth Rales, of Hillsboro Beach, FL and Potomac, MD". The Washington Post. March 30, 2004.
^. Jewish Family Service. March 15, 2012. Archived from the original on September 29, 2013. Retrieved September 26, 2013.
^Sun Sentinel: "Norman Rales, orphan to wealthy businessman and philanthropist, is dead at 88" By Lisa J. Huriash March 15, 2012
^Jewish Family Service: "Ruth Rales, 81, Philanthropist by Tal Abbady April 1, 2004
^Murphy, Carolyn and Lynn Stander (September 2005). . Bethesda Magazine. Archived from the original on August 20, 2008.
^. Forbes. Archived from the original on June 9, 2009.
^David A. Vise; Steve Coll (August 23, 1988). . The Washington Post. Archived from the original on October 23, 2012.{{cite news}}: CS1 maint: multiple names: authors list (link)
^"COMPANY NEWS; Request on Interco". The New York Times. August 4, 1988.
^Patrick A. Gaughan (2002). Mergers, Acquisitions, and Corporate Restructurings. John Wiley and Sons. p. 217. ISBN978-0-471-23729-7.
^"COMPANY NEWS; Rales Brothers Sell Their Interco Stake". The New York Times. December 16, 1988.
^Thomas Heath (July 7, 2008). "The Quiet Dynamism of the Brothers Rales". The Washington Post.
^"Steven Rales & Lalage Damerell". The Times. September 3, 2013.
^Peeler Art Center Dedicated as Donor Remembers the Building's Namesake, Her Former Professor, DePauw University January 4, 2009, at the Wayback Machine
steven, rales, steven, rales, born, march, 1951, american, businessman, film, producer, founded, danaher, corporation, 1984, with, brother, mitchell, rales, chairman, board, rales, also, founded, film, production, company, indian, paintbrush, 2006, which, work. Steven M Rales born March 31 1951 is an American businessman and film producer He founded Danaher Corporation in 1984 with his brother Mitchell Rales and is chairman of the board Rales also founded the film production company Indian Paintbrush in 2006 which works closely with filmmaker Wes Anderson Rales net worth was estimated by Forbes in July 2023 to be over 7 3 billion Steven RalesRales in 2016Born 1951 03 31 March 31 1951 age 72 Bethesda Maryland U S EducationDePauw University BA 1973 American University JD 1978 OccupationsBusinessmanfilm producerTitleFounder Danaher and Indian PaintbrushSpousesChristine Plank m 1983 div 2003 wbr Lalage Damerell m 2012 wbr Children3FamilyMitchell Rales brother Contents 1 Early life and education 2 Career 2 1 Indian Paintbrush 3 Personal life 4 References 5 External linksEarly life and education editRaised in a Jewish family 1 Rales is one of four sons of Ruth nee Abramson and Norman Rales 2 His father was raised in an orphanage the Hebrew Orphan Asylum in New York City and became a businessman who sold his building supply company in Washington D C to his employees in what was the first employee stock ownership plan transaction in the US 3 His father was also a philanthropist founding the Norman and Ruth Rales Foundation and the Ruth Rales Jewish Family Service 4 5 In 1969 Rales graduated from Walt Whitman High School in Bethesda Maryland 6 In 1973 he graduated from DePauw University where he was in the Beta Theta Pi fraternity In 1978 he received a Juris Doctor JD degree from American University Career editIn 1979 he left his father s real estate firm to found Equity Group Holdings with his brother Mitchell Rales Using junk bonds they bought a diversified line of businesses first Mastershield a vinyl siding manufacturer then Mohawk Rubber Company then Diversified Mortgage Group They changed the name to Diversified Mortgage Investors in 1978 and then Danaher in 1984 7 He has served as Danaher s Chairman of the Board since January 1984 8 In 1985 they bought Easco Corporation the then largest independent aluminum extrusion manufacturer and hand tool manufacturer which produced the Craftsman brand of sockets and wrenches for Sears In 1988 they made a hostile takeover bid for Interco a conglomerate comprising manufacturers as diverse as Converse shoes and Ethan Allen furniture 9 10 When the company responded with a poison pill they sued and prevailed in court 11 They later ended the bid after five months with a profit of 60 million 12 In 1992 the AM side of WGMS was sold off to the Rales brothers who converted the music station into the first frequency for WTEM the first full time sports talk radio station in the Washington metropolitan area He and his brother founded Colfax Corporation in 1995 an industrial pumps manufacturer based in Richmond Virginia In 2008 Rales engineered the initial public offering of the company 13 His net worth was estimated by Forbes in July 2023 to be 7 3 billion 14 Indian Paintbrush edit Rales founded the film production company Indian Paintbrush in 2006 The company works frequently with filmmaker Wes Anderson producing films such as Moonrise Kingdom The Grand Budapest Hotel and Isle of Dogs 15 16 List of films produced by Rales Year Title2007 The Darjeeling Limited2009 Fantastic Mr Fox2011 Like Crazy2012 Jeff Who Lives at HomeYoung AdultMoonrise KingdomSeeking a Friend for the End of the WorldNot Fade Away2013 Breathe InStokerTranceLabor Day2014 The Grand Budapest Hotel2015 Me and Earl and the Dying Girl2018 Isle of Dogs2021 The French Dispatch2023 Asteroid CityThe Wonderful Story of Henry SugarPersonal life edit nbsp Rales with his wife Lalage in 2016Rales was married to Christine Plank from 1983 to 2003 17 18 They have three children Alexander Gregory and Stephanie 19 20 21 He married Lalage Damerell in 2012 22 His stepdaughter is former Central Intelligence Agency CIA officer Amaryllis Fox who is married to Robert F Kennedy III a grandson of Robert F Kennedy 1 Rales was a major donor in the 2002 dedication of the Peeler Art Center at DePauw 23 References edit Washington Jewish Week Five local Jews make Forbes richest list Archived September 5 2012 at the Wayback Machine October 7 2009 Obituary On Sunday March 28 2004 Ruth Rales of Hillsboro Beach FL and Potomac MD The Washington Post March 30 2004 Remembering Norman R Rales 1923 2012 Jewish Family Service March 15 2012 Archived from the original on September 29 2013 Retrieved September 26 2013 Sun Sentinel Norman Rales orphan to wealthy businessman and philanthropist is dead at 88 By Lisa J Huriash March 15 2012 Jewish Family Service Ruth Rales 81 Philanthropist by Tal Abbady April 1 2004 Murphy Carolyn and Lynn Stander September 2005 We Knew Them When Bethesda Magazine Archived from the original on August 20 2008 Steven Rales Forbes Retrieved May 11 2017 Steven M Rales Forbes Archived from the original on June 9 2009 David A Vise Steve Coll August 23 1988 The Rales Brothers Play for Big Stakes Little Known Area Family Builds an Industrial Empire The Washington Post Archived from the original on October 23 2012 a href Template Cite news html title Template Cite news cite news a CS1 maint multiple names authors list link COMPANY NEWS Request on Interco The New York Times August 4 1988 Patrick A Gaughan 2002 Mergers Acquisitions and Corporate Restructurings John Wiley and Sons p 217 ISBN 978 0 471 23729 7 COMPANY NEWS Rales Brothers Sell Their Interco Stake The New York Times December 16 1988 Thomas Heath July 7 2008 The Quiet Dynamism of the Brothers Rales The Washington Post Steven Rales Forbes Retrieved July 7 2023 Eisler Kim December 11 2007 What s a DC Billionaire Doing Aboard The Darjeeling Limited Washingtonian com Retrieved April 2 2023 Wes Anderson Focus Features And Indian Paintbrush Reunite On Asteroid City Focus Features Retrieved April 2 2023 Washingtonian Magazine Best Places To Live by Kimberly Palmer And Mollie Reilly May 2012 DePauw University Peeler Art Center Dedicated as Donor Remembers the Building s Namesake Her Former Professor October 11 2002 Find A Case CHRISTINE P RALES APPELLANT v STEVEN M RALES APPELLEE September 28 2006 The Ron Brown Scholar Program Remembering Norman R Rales 2010 American Journey Award Recipient permanent dead link March 13 2012 Hartford Courant In the Matter of Marilyn Plank July 11 2007 Steven Rales amp Lalage Damerell The Times September 3 2013 Peeler Art Center Dedicated as Donor Remembers the Building s Namesake Her Former Professor DePauw University Archived January 4 2009 at the Wayback MachineExternal links editDanaher profile Steven Rales at IMDb Steven Rales at Crunchbase Retrieved from https en wikipedia org w index php title Steven Rales amp oldid 1180345568, wikipedia, wiki, book, books, library,
