1% Solutions: Dan Gilbert


In light of the recent bankruptcy of the city of Detroit one of the city's native son's is aiming to make a difference. The diminutive billionaire Chairman of Quicken loans and majority owner of the Cleveland Cavaliers has invested $1 billion dollars of his own money to acquire over three million square feet of real estate in Downtown Detroit. The problems that have plagued the beleaguered city over the past four decades have been well documented. Rampant corruption, abandoned buildings, crime, drugs, and big labor have caused a loss of over half the city's population. Mr. Gilbert's ambitious plans include turning Downtown into a high tech hub, His real estate company, Bedrock Real Estate Services, is renovating properties, building apartments and wooing corporate tenants. A seven-mile light rail system is in the planning stages, underwritten by a number of businesses and business leaders, including Mr. Gilbert.  Although his fortune is estimated at $3.5 billion by Forbes, Gilbert seems to be more ambitious than ever in order to revitalize his beloved city. 

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