Mitchell Rales Biography
Mitchell Rales is an American billionaire businessman and a collector of modern and contemporary art. Mitchell co-founded Danaher Corporation in 1983 and is the chairman of its executive committee. He is one of the Washington, D.C. region’s eleven billionaires.
Mitchell Rales Education
He is a graduate of Walt Whitman High School in 1974. Mitchell Rales played as an outstanding school athlete. He joined Miami University in Oxford in 1978, Ohio where he was also a member of Beta Theta Pi fraternity. In 1978, Mitchell Rales earned his degree in business administration at Miami University in Oxford, Ohio and he was also a member of Beta Theta Pi fraternity.
As captain of both high school football and baseball teams, he was an outstanding high school athlete. As captain of both the high school football and baseball teams, Rales was an outstanding high school athlete.
Mitchell Rales Age
Mitchell Rales was born in 1956 in Potomac, Maryland, United States. He grew up in Bethesda, Maryland U.S.A. He is 64 years old as of 2020.
Mitchell Rales Family|Siblings
Mitchell Rales was born in Potomac, Maryland, U.S.A to Norman Rales and Ruth Rales, he was raised in a family of three brothers. Mitchell Rales has three siblings Joshua Rales, Steven Rales, and Stewart Rales.
Mitchell Rales Wife
Mitchell Rales is married to Lyn Goldthorp Rales in 1999 with whom he had two children. But then the couple divorced in 1999. Later in 2008, he married Emily Wei, the director and chief curator of Glenstone and they both live in Potomac, Maryland.
Mitchell Rales Body Measurements
- Height: Not available
- Weight: Not available
- Shoe Size: Not available
- Body Shape: Not available
- Hair Colour: Brown
Mitchell Rales Net Worth
Mitchell Rales is an American billionaire businessman and a collector who has an estimated net worth of $4.2 billion USD.
Mitchell Rales Businessman
He was raised in an orphanage, in the Hebrew Orphan Asylum in New York City, where he started his business career as a successful businessman, who sold his building supply company in Washington, D.C. to his employees whose stock ownership was planed in an (ESOP) transaction in the U.S.
He left his father’s real estate firm and founded an Equity Group Holdings in 1979, together with his brother, Steven M. Rales. He and his brother bought a diversified line of businesses using junk bonds. They changed the name to Diversified Mortgage Investors in 1978, and then to Danaher, in 1984. In 1980, the AM 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, and a sports-talk station, in 1992.
Mitchell made a hostile takeover bid for Interco, Inc in 1988, which was, the largest manufacturer of furniture and men’s shoes (owning both Converse shoes and Ethan Allen furniture). He later ended the bid after five months with a profit of $60 million dollars. He and his brother founded Colfax in 1995, which is a Richmond, Virginia industrial pump manufacturer, which had an initial public offering in May 2008.
Mitchell Rales Foundation|Potomac Md|Museum
Rales is a philanthropist, who founded the Norman and Ruth Rales Foundation and Ruth Rales Jewish Family Service. He thereby purchased the Potomac, Maryland property, the former fox hunting club, in order to build a home in 1986 and thereafter he began collecting art for that home. In collaboration with his wife Emily Wei Rales, an art historian and curator, he has established Glenstone, a private museum in Potomac, Maryland, which presents exhibitions of their collection of art.
The museum’s initial square foot of 30,000 Modernist limestone gallery was opened in 2006 and it admitted it’s visitors for two days a week and in seven years of existence, it then admitted another 10,000 visitors.
In 2018, the major $219 million dollar expansion to Glenstone was opened and it increased both the gallery space and the wooded land surrounding galleries. On October 4, 2018, the expansion completed and in the same year, the museum was opened to the public. Glenstone is known to be free and open to the public via online booking.
After the expansion, Glenstone continued to acquire adjacent properties including residential homes. Glenstone was staffed by some recent college graduates through an “Emerging Professionals Program”, that took two-year in the program for aspiring curators and uninformed staff stationed in the galleries to answer questions from visitors about the art.
Mitchell Rales Danaher
Mitchell is the co-founder of Danaher where he serves as Chairman of the Executive Committee on Danaher’s Board of Directors since 1983, where he served as the Chairman of the Executive Committee of Danaher since 1984. He has served there for more than five years in private and public business entities in the manufacturing area.
He is a member of the board of directors at Colfax Corporation. He and his brother Steven Rales founded The strategic vision and leadership which helped him to create the Danaher Business System and guiding Danaher down the path of consistent, and profitable growth that continues up to date. As a result of his substantial ownership stake in Danaher, he positioned to understand an articulate advocate for the rights and interests of Danaher’s shareholders.
Mitchell Rales Colfax
He is the co-founder of Colfax and he has served as its director since its founding in 1995. He is also the Chairman of the Board of Directors. He is also the co-founder of Danaher’s board of directors and he also serves as a member of the board of directors at Danaher Corporation, a global science, and technology company, since 1983 and as Chairman of Danaher’s Executive Committee since 1984.
Mitchell Rales was also a member of the Fortive Corporation board of directors, which is a diversified industrial growth company that was spun-off from Danaher in 2016. For over 25 years he has been serving as a principal in a number of private business entities with interests in manufacturing companies and publicly traded securities. He helped in the creation of Danaher Business System, on which the Colfax Business System is modeled, and he then provided critical strategic guidance to the Company during its development and growth.
Mitchell Rales Philanthropy
Mitchell Rales 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. The money is about to be reallocated in the good fortune of making to other causes.”He is the president of the National Gallery of Art and is a former board member of the Hirshhorn Museum.
Mitchell Rales Glenstone
The Glenstone Museum was created by Mitchell and his wife Emily Wei Rales to house their private collection of postwar art, considered one of the world’s best in Potomac, Maryland. The museum was first opened in 2006 and it displays Rales’s collection of post-WW 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 open and free to the public via online booking.
Frequently Asked Questions About Mitchell Rales
How old is Rales?
He is an American billionaire businessman and a collector of modern and contemporary art.
How old is Mitchell?
He is 64 years old as of 2020.
How tall is Rales?
His height is not available.
Is Mitchell married?
Yes, he is married and he is married to Lyn Goldthorp Rales in 1999.
How much is Rales worth?
He has an estimated net worth of $ 4.2 billion USD
How much does Mitchell make?
He has not revealed the amount of income of what he makes but we will get to update you soon as it is available.
Where does Rales live?
He lives in Potomac, Maryland together with his family.
Is Mitchell dead or alive?
He is still alive and in good health.
Who owns the Glenstone Museum?
It is owned by Mitchell Rales, The museum was developed and financed by billionaire American businessman Mitchell Rales and is curated by Emily Wei Rales. Artists in Glenstone’s collection are required to have already been exhibited for at least 15 years.
Who built Glenstone?
It was built by Thomas Phifer 2018 expansion, Charles Gwathmey 2006 building.