Michael Fascitelli

High Net Worth Individuals in Miami

Miami is home to a diverse group of high net worth individuals who contribute significantly to the local economy and community. One such individual is Michael D. Fascitelli, known for his leadership in the real estate industry and his philanthropic efforts.

Michael Fascitelli’s Ventures

Michael Fascitelli has made a name for himself as the former CEO of Vornado Realty Trust. His career has included various ventures that showcase his investment savvy. After his tenure at Vornado, he transitioned to investments in sports franchises, notably becoming a co-owner of the Milwaukee Bucks. Fascitelli also co-founded Cadre, a technology-driven real estate investment platform. His insights into the commercial real estate market have made him a sought-after speaker, where he shares his perspectives on market trends and investment strategies Walker Dunlop.

Philanthropic Contributions in Miami

Beyond his business ventures, Michael Fascitelli is also recognized for his philanthropic contributions, particularly to the University of Rhode Island (URI), where he graduated. In 2006, he and his wife established the Michael D. Fascitelli Scholarship to support URI students from North Providence. Additionally, they donated $1 million to create the Ann Fascitelli Fitness and Wellness Center at URI. His most recent contribution includes a generous donation of $10 million to support the new College of Engineering complex at URI. This donation will fund lab equipment and establish an endowed fund for the college, with the engineering building named The Fascitelli Center for Advanced Engineering in his honor PBN.

Michael Fascitelli’s ventures and philanthropic efforts highlight his significant impact on both the business landscape and the community in Miami and beyond. For more about high net worth individuals, check out our article on high net worth people.

Michael D. Fascitelli’s Net Worth

Investment Portfolio Overview

Michael D. Fascitelli has an estimated net worth of $412 million, reflecting his significant investments in various companies. His portfolio includes shares across multiple firms such as:

These investments highlight his strategic approach to wealth accumulation, with a focus on real estate and investment management.

Stock Transactions History

Throughout his career, Michael D. Fascitelli has been active in stock transactions. In 2009, he made the most acquisitions, completing 23 transactions, particularly in April. The following year, he focused on selling shares, recording 11 transactions in February. Notable statistics from his trading history include:

In 2006, he sold 5,074,709 shares for a total of $395 million, marking his largest year based on trade value. His investment strategy showcases a keen understanding of market dynamics, contributing to his high net worth.

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Other Notable Philanthropists

Adrienne Arsht’s Contributions

Adrienne Arsht stands out as a prominent figure in the philanthropic landscape of Miami. As a respected business leader and impact philanthropist, she has made substantial contributions to various cultural and educational institutions. Notably, in 2008, she donated $30 million to Miami’s Performing Arts Center, significantly enhancing the region’s cultural offerings.

Her philanthropic commitment doesn’t stop there. In 2012, she gave $10 million to Lincoln Center, supporting the arts in New York. Additionally, she donated another $10 million to the Metropolitan Museum of Art to bolster the METLIVEARTS performance series. Most recently, in October 2022, she contributed $10 million to the Smithsonian Institution to launch the Adrienne Arsht Community-Based Resilience Solutions Initiative.

Suzanne Hilser-Wiles’ Impact

Suzanne Hilser-Wiles has also made a name for herself among Miami’s influential philanthropists. Known for her dedication to improving educational opportunities, she has actively supported various local initiatives aimed at empowering youth and enhancing educational resources.

Her work often focuses on providing scholarships and funding for programs that foster skill development among underprivileged communities. Through her contributions, she has positively impacted the lives of many individuals in Miami, aligning with the broader mission of creating a more equitable society.

For more information on other high net worth individuals and philanthropists in Miami, you can check out individuals like Michael Shvo and David Edelstein.

Leaders in Philanthropy

In Miami, several notable figures are making significant contributions to the community through their philanthropic efforts. Among these leaders are Kara Newport and Lisa Brown, who are recognized for their impactful initiatives.

Kara Newport’s Initiatives

Kara Newport serves as the President & CEO of Filoli Historic House and Garden. Under her leadership, Filoli has evolved into a space of beauty and refuge for the community. Newport has a wealth of experience in building development teams across various organizations, including a science museum, zoo, and historic properties. Her commitment to creating meaningful experiences for visitors and promoting community engagement highlights her dedication to philanthropy in Miami.

Lisa Brown’s Advancement

Lisa Brown is a Vice President at GG+A and brings over two decades of experience in development and strategic management. She has held key roles at prestigious cultural institutions like the Guggenheim Museum and the Philadelphia Museum of Art (GG+A Virtual Events). Her expertise in advancement has allowed her to drive initiatives that support the arts and community development in Miami.

Both Kara Newport and Lisa Brown exemplify the spirit of giving in Miami, contributing to the cultural richness and community well-being through their leadership and initiatives. For more information about other influential figures in philanthropy, check out our article on high net worth people.

Impactful Donations

Michael Dell’s Foundation

Michael Dell is not only known for his success in the tech industry but also for his significant philanthropic efforts. In 1999, he and his wife, Susan, established the Michael & Susan Dell Foundation to enhance education, health, and safety for children across the globe. This foundation aims to make a meaningful impact, focusing on initiatives that improve the lives of underserved populations.

The foundation’s contributions span various sectors, including education reform and healthcare innovation. By investing in programs that foster educational opportunities and health services, the Dells have played a substantial role in uplifting communities. Their commitment to philanthropy is a testament to their belief in giving back and making a difference.

Michael Dell’s Philanthropic Achievements

Michael Dell’s philanthropic achievements are notable and reflect his dedication to societal betterment. The foundation has funded numerous projects that have led to measurable improvements in education and health outcomes for children. Through strategic partnerships with various organizations, the Dell Foundation has been able to leverage resources effectively, resulting in impactful changes.

In November 2023, Dell and his investment firm Silver Lake profited immensely from the sale of VMware to Broadcom, which was valued at $92 billion. This sale generated over $14 billion in cash and total gains of $70 billion for the investors involved (Achievement.org). Such financial successes allow him to further invest in philanthropic efforts, enhancing his ability to contribute to the community.

As of May 2024, Dell’s wealth surpassed the $100 billion mark, largely due to the rising demand for AI-related equipment. This surge in fortune positions him as a leading philanthropist, with a current net worth of $113 billion, ranking him 11th on Bloomberg’s wealth index (Achievement.org). The growth of his wealth enables him to continue making significant donations and support a variety of charitable causes, reinforcing the importance of philanthropy among high net worth individuals.

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Michael Dell’s Wealth Journey

Profits from VMware Sale

In November 2023, Michael Dell and the investment firm Silver Lake celebrated significant financial gains from the sale of VMware to Broadcom, which was valued at an impressive $92 billion. This strategic move brought in over $14 billion in cash and generated total gains of around $70 billion for the involved parties (Achievement.org). This sale marked a pivotal moment in Dell’s financial journey, showcasing his acumen in the tech industry and investment strategies.

Milestone: $100 Billion Net Worth

By May 2024, Michael Dell’s personal fortune surged past the $100 billion threshold, largely fueled by the skyrocketing demand for AI-related equipment. This surge in demand led to record high share prices for Dell Technologies, elevating him to the 11th spot on Bloomberg’s wealth index, with a net worth of approximately $113 billion (Achievement.org). This remarkable milestone underscores Dell’s successful navigation of the evolving tech landscape and his strategic investments that continue to pay off.

Michael Dell’s journey exemplifies the intersection of technology innovation and astute financial management, securing his place among the most notable high net worth individuals. For more insights into prominent figures in Miami’s affluent circles, check out our article on high net worth people.

Michael Dell’s Entrepreneurial Journey

Early Business Ventures

Michael Dell’s entrepreneurial spirit began during his college years at the University of Texas. Despite his parents’ hopes that he would pursue medicine, he started a small business selling computer disk drives out of his dorm room. This venture quickly gained traction; by spring vacation, he was generating sales of $80,000 a month. This success prompted him to drop out of college and dedicate himself to his business full-time.

His early ventures laid the groundwork for what would become a significant force in the tech industry. Dell’s knack for identifying market needs and capitalizing on them was evident even then, setting the stage for his future success.

Success with Dell Inc.

Michael Dell founded Dell Inc. in 1984, focusing on selling personal computers directly to consumers. This innovative approach allowed for customization and competitive pricing, which quickly distinguished Dell from its competitors. By the time he turned 40, his net worth was estimated at nearly $20 billion, and in 2005, Forbes magazine recognized him as the fourth richest man in the United States (Achievement.org).

Dell’s leadership and vision transformed the company into one of the largest technology firms globally. In 2004, he stepped down as Chief Executive Officer but continued to serve as Chairman of the Board, ensuring his influence on the company’s trajectory. His impact on the tech world is undeniable, leading to significant advancements and setting new standards in the industry.

Under his guidance, Dell Inc. adapted to changing market trends, including the rise of AI-related equipment, which contributed to a surge in demand and subsequently boosted the company’s share price. By May 2024, Dell’s wealth had surpassed the $100 billion mark, solidifying his status as a leading figure in the tech industry (Achievement.org).

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Michael D. Fascitelli’s Contributions to URI

Support for Engineering Complex

Michael D. Fascitelli has made a significant impact on the University of Rhode Island (URI) by donating $10 million to support the new College of Engineering complex. This generous contribution is allocated to enhance the educational infrastructure at URI.

The engineering building, which is funded through state bond issues and private donations, will be named The Fascitelli Center for Advanced Engineering in honor of his contributions. This state-of-the-art facility, under construction since 2017, will include classrooms, research labs, and advanced research technology (PBN).

Endowed Scholarships and Centers

In addition to his recent donation, Michael D. Fascitelli, along with his wife Elizabeth C. Fascitelli, has a history of supporting URI students. They established the Michael D. Fascitelli Scholarship in 2006, aimed at assisting students from North Providence. Furthermore, in 2013, they contributed $1 million to open the Ann Fascitelli Fitness and Wellness Center at URI (PBN).

These contributions reflect not only his commitment to education but also his dedication to enhancing student life and opportunities at URI. For more information on other high net worth people and their philanthropic efforts, check the links provided.