Stephen Ross

Stephen Ross first reconfigured an entire neighborhood in New York (see Hudson Yards, which the Related Companies that he founded developed into a forest of skyscrapers). Now he’s vying to transform an entire city in Florida, with early successes to tout. 

Last year, Ross launched Related Ross with the goal of turning West Palm Beach into a finance and business mecca.

The firm’s 360 Rosemary, the fully leased Class A office building completed during the pandemic, counts as tenants such high-profile finance companies as Goldman Sachs, J.P. Morgan and Elliott Management. One Flagler, the newest office project, is nearing a lease-out. Ross has already broken ground on two more office projects in West Palm Beach. 

Now he’s expanding his reach, building out the life that the C-suite executives and high-earning employees who populate his offices desire. One luxury condo project in West Palm Beach is already under construction, while another there remains in the pipeline. 

In nearby Wellington, he’s also planning to build a mixed-use development and private schools. The $10 billion plan encompasses more than 6 million square feet of office space, 1.4 million square feet of condos, 700,000 square feet of retail and 870 hotel rooms.

But that’s not all. The billionaire has also successfully lobbied (and pitched $50 million of his money) for Vanderbilt University to open a satellite campus. The Nashville-based school committed in August. 

While Ross stepped down as the chairman of Related Companies last year, he remains the largest shareholder in the New York-based development firm. It remains a major player in the field (and its top executives are Power 100 inductees of their own).  

After a tepid start during the pandemic, Hudson Yards, the 28-acre mega-development on Manhattan’s far West Side, has rebounded, thanks to the office component, which is now fully leased. Last month, too, the firm won the support of a key New York City agency in its quest toward a coveted license for a casino proposal for Hudson Yards. And, at the start of this year, Related Companies secured the contract to develop Ken Griffin’s high-profile, waterfront headquarters tower for hedge fund Citadel in Miami.