Fanatics Founder Michael Rubin Acquires Hamptons Mansion For $50 Million

Michael Rubin, the founder of sports merchandise company Fanatics, has purchased a luxurious mansion in the Hamptons for $50 million. 

The Hamptons, located on Long Island, is a popular summer destination for wealthy New Yorkers and celebrities. 

The mansion, which was previously owned by Ziel Feldman of HFZ Capital Group, underwent significant renovations and now boasts seven bedrooms, four bathrooms, and spans 8,000 square feet.

This is not Rubin’s first foray into high-end real estate in New York. In 2018, he set a record price for the neighborhood by purchasing a penthouse in downtown Manhattan for over $40 million. 

Rubin’s new Hamptons property is in close proximity to homes owned by Beyoncé and Jay-Z, Ben Affleck and Jennifer Lopez, and New England Patriots owner Bob Kraft.

To celebrate his new acquisition, Rubin hosted an extravagant “White Party” on the Fourth of July, attended by numerous athletes and celebrities. 

The star-studded guest list included Jay-Z, Beyoncé, Tom Brady, Kylian Mbappé, and Leonardo DiCaprio, among others.

Rubin, who is 50 years old and originally from Philadelphia, has an estimated net worth of $3.5 billion. Besides his ventures in real estate, he is known for founding Fanatics, a company valued at $31 billion, which sells sports merchandise. 

Fanatics counts major sports leagues such as MLB, NBA, NFL, and NHL, as well as MLS, among its investors. 

Rubin recently divested his minority stakes in the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils, reportedly earning a $300 million windfall.

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Rubin threw this celebrities-packed party after a busy schedule in his company Fanatics this June.

His Fanatics company emerged as the winner in the bidding war for PointsBet’s US operations, offering $225 million in cash after rival DraftKings entered the competition with a $195 million offer. 

Rubin has been enjoying huge success in the sports merchandise industry. He is also growing his real estate portfolio along with his substantial wealth in both business as well as social circles.