Steve Rubell has an impressive net worth. He has worked in many different industries, including restaurants, investment firms, and a plethora of other ventures. During his college days, he studied at Syracuse University, where he met his future business partner Ian Schrager. After graduating, Rubell worked in a brokerage firm before founding his own business.
Rubell’s early career had some difficulties, but he managed to bounce back and become one of the most respected and successful entrepreneurs in the world. He was born in New York City and was raised with his brother Donald. The two had a strong love of tennis, and Steve picked up his father’s passion. While he wasn’t a pro player, his passion for the sport became an asset to his business.
Rubell and his business partner Ian opened two restaurants in New York and Connecticut. In 1978, Rubell and Ian were arrested on charges of tax evasion and obstruction of justice. The restaurants were eventually sold off and Rubell served three and a half years in jail. The couple then co-founded the Executive Hotel on Madison Avenue. The Rubell net worth is undisclosed.
In 1977, Rubell’s net worth was estimated to be between $12 million and $15 million. His income from his nightclub Studio 54, which opened in the late 70s, contributed to his fortune. In addition, Rubell owned several restaurant chains, including the Steak Lofts. He also owned the infamous Studio 54 disco club.
Rubell started his career in the restaurant industry, running two steakhouses in Connecticut and New York City. He earned $7 million in the first year of operation. However, his cocky attitude landed him in trouble with the FBI. He and his business partner were charged with tax evasion and were sentenced to three and a half years in prison. He also spent time in a halfway house.
In 1985, Rubell launched two hotels in New York City. The Enchanted Garden was renamed Douglaston Manor. In the following year, the Palladium was opened in New York. In addition to the two properties, Rubell’s other assets include his home and his yacht.