Dan Gilbert
Billionaire Dan Gilbert, the founder and chairman of Rocket Companies Inc., said Tuesday he's interested in shrinking his interest in the company and getting more shares into the hands of public stockholders, Crain's Detroit Business reports.
“I certainly don’t need to own 93% of this business,” Gilbert said during a conversation with Rocket Companies President Bill Emerson, adding that having more “float,” or stock available on the public market, would be a positive. “I want to own a chunk of it, and the more float we can get out the better, either through (secondary offerings), or really interesting acquisitions," Gilbert said.
Gilbert made the comments at Rocket's first investor day, held at the Shinola Hotel downtown for large-scale investors and analysts.
Gilbert who also owns Bedrock, a development group, the Cleveland Cavaliers and other businesses, is worth $26.2 billion, according to Forbes magazine.
