Meet Stephen Ross, the billionaire developer of Hudson Yards and chairman of Equinox, who's one of the richest people in New York and reportedly plans to host a fundraiser for Trump in his Hamptons home
- Billionaire Stephen Ross is reportedly hosting a reelection fundraiser for President Donald Trump on Friday, August 9.
- Ross is the chairman of Related Cos., which has a portfolio of developments that includes the Time Warner Center, Hudson Yards, and Equinox and Soul Cycle.
- Equinox members and Soul Cycle members are now threatening to boycott the fitness brands, Business Insider reported.
- Ross has an estimated net worth of $7.7 billion.
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Real estate mogul Stephen Ross is in hot water.
Reports that he's holding a reelection fundraiser for President Donald Trump this Friday, August 9, at $100,000 per ticket have sparked backlash, according to The Washington Post.Ross, age 79, is chairman of Related Cos., which owns Equinox and SoulCycle. Equinox members and SoulCycle visitors are now threatening to cut ties with the trendy fitness brands following the news, reported Business Insider's Kate Taylor. However, Equinox issued a statement via Twitter on August 7, saying it doesn't support the event. SoulCycle, too, issued a statement the same day, noting that the company "in no way endorses the political fundraising event being held later this week."
Ross has since issued a statement in response to the backlash, per Miami Herald reporter Adam Beasley. "I always have been an active participant in the democratic process," Ross said. "While some prefer to sit outside of the process and criticize, I prefer to engage directly and support the things I deeply care about."
In the statement, Ross said he's known Trump for 40 years, and "while we agree on some issues, we strongly disagree on many others, and I have never been bashful about expressing my opinions."
Ross has an estimated net worth of $7.7 billion, according to Forbes. He's known as the man behind New York City's Time Warner Center and the most expensive real estate development in US history - Hudson Yards - as well as the owner of NFL team Miami Dolphins.
Here's a look at Ross' life and fortune.