Mitchell Rales

$3.82 B

Ranked #1093 in World

About Mitchell Rales

Renowned American entrepreneur Mitchell P. Rales, with a net worth of $5.4 billion as per Forbes July 2023, is revered for co-founding Danaher Corporation in 1984 alongside his brother. The Pittsburgh native, now based in Potomac, Maryland, also chairs ESAB and contributes to the arts as Glenstone's founder and National Gallery's president. His business empire extends to NFL ownership, reflecting his multifaceted influence across industries and charitable endeavors.

Born

August 21, 1956 in Pittsburgh, Pennsylvania, U.S.

Age

69 years

Source Of Wealth

Manufacturing, Investments

Industries

Manufacturing

Citizenship

United States

Residence

Potomac, Maryland

Education

Bachelor of Arts/Science, Miami University of Ohio

Spouse

Emily Wei (Married: 2008)

Children

Mitchell P. Rales, an American businessman, and art collector, was born in August 1956 in Pittsburgh, Pennsylvania. He grew up in Bethesda, Maryland, and graduated from Walt Whitman High School in 1974. Rales went on to earn a degree in business administration from Miami University in 1978.

Mitchell Rales: Family

Mitchell P. Rales is one of four sons of Ruth (née Abramson) and Norman Rales. His father, Norman, was a successful businessman and philanthropist. Mitchell has three brothers: Joshua, Steven, and Stewart.

Mitchell Rales: Career Highlights

Mitchell P. Rales co-founded Equity Group Holdings with his brother in 1979. They changed the company name to Diversified Mortgage Investors and then to Danaher in 1984. Rales and his brother acquired various businesses using junk bonds, including a takeover bid for Interco in 1988 that ended with a profit.

In 1995, Rales co-founded Colfax Corporation, later rebranded as Enovis. He also became the majority shareholder of Fortive, split off from Danaher in 2016, and served on its board of directors until June 2021.

Rales has faced legal challenges, paying fines to the Federal Trade Commission and U.S. Department of Justice for violating antitrust laws. Despite these setbacks, he became the top limited partner of the group that purchased the Washington Commanders in 2023.

Mitchell Rales: Companies

Mitchell P. Rales has been involved with several companies throughout his career, including:

Equity Group Holdings
Diversified Mortgage Investors
Danaher Corporation
Colfax Corporation (Enovis)
Fortive
Washington Commanders

Mitchell Rales: Major Achievements

Mitchell P. Rales has achieved significant success in business and philanthropy. Some of his major achievements include:

Co-founding Danaher Corporation and leading its growth into a global manufacturing conglomerate.
Establishing the art museum Glenstone in Potomac, Maryland, with his wife Emily Wei Rales.
Donating $1.9 billion to the Glenstone Foundation in 2021, making it one of the largest gifts to an arts organization in history.

Serving as President of the National Gallery of Art and Chairman of the board of ESAB.
Elected as a member of the American Academy of Arts and Sciences in 2023.

Mitchell Rales: Awards & Achievements

Mitchell P. Rales has received numerous awards and recognition for his contributions to business and the arts, including:

Ernst & Young Entrepreneur of the Year Award (1996)
Washington Business Hall of Fame inductee (2006)
National Medal of Arts (2019)
Honorary doctorate from Miami University (2022)

Mitchell Rales: Personal Life & Legacy

Mitchell P. Rales is Jewish and has been married twice. He has two children from his first marriage and currently resides in Potomac, Maryland. Rales is known for his philanthropy and has signed the Giving Pledge, committing to donate the majority of his wealth to charitable causes.

Mitchell Rales: Trivia

Mitchell P. Rales had a near-death experience during a fishing trip in Russia in 1988. He is also an avid art collector and has amassed a significant collection of post-World War II art, which is displayed at the Glenstone museum.

Wealth History

Timeline

August 1956

Mitchell P. Rales is born in Pittsburgh, Pennsylvania.

1974

Graduates from Walt Whitman High School in Bethesda, Maryland.

1978

Earns a degree in business administration from Miami University.

1979

Founds Equity Group Holdings with his brother.

1984

Changes the company name to Diversified Mortgage Investors and then to Danaher.

1984

Co-founds Danaher Corporation with his brother Steven Rales.

1988

Makes a takeover bid for Interco but later ends it with a profit.

1988

Has a near-death experience during a fishing trip in Russia.

1995

Co-founds Colfax Corporation, later rebranded as Enovis.

2016

Majority shareholder of Fortive, split off from Danaher.

2019

Signs the Giving Pledge.

June 2021

Serves on Fortive's board of directors until this date.

2021

Donates $1.9 billion to the Glenstone Foundation.

2023

Becomes the top limited partner of the group that purchased the Washington Commanders.

2023

Retires as chair of Enovis.

2023

Elected as a member of the American Academy of Arts and Sciences.

Mitchell Rales : FAQs

What is Mitchell Rales's current net worth?

Mitchell Rales's current net worth is $3.82 billion.

What is Mitchell Rales's current global rank among billionaires?

Mitchell Rales holds the 1093rd position globally among billionaires.

What is Mitchell Rales's current ranking within the United States?

Mitchell Rales holds the 408th position in United States.

What was the change in Mitchell Rales's net worth compared to the previous year?

Mitchell Rales's net worth decreased by 633.35 million dollars compared to the previous year 2025, when his net worth was 4.46 billion dollars.

What is the recent change in Mitchell Rales's net worth?

Mitchell Rales's net worth decreased by 5.18 million dollars recently, a 0.14% decrease, with his net worth standing at 3.82 billion dollars.

What are Mitchell Rales's main sources of wealth?

Mitchell Rales's main source of income comes from Manufacturing, Investments.

In which industry does Mitchell Rales primarily operate?

Mitchell Rales is primarily involved in the Manufacturing industry.

What is Mitchell Rales educational background?

Mitchell Rales holds a Bachelor of Arts/Science from Miami University of Ohio.

How old is Mitchell Rales?

Mitchell Rales is 69 years old.

How many children does Mitchell Rales have?

Mitchell Rales has 2 children.

Who is Mitchell P. Rales and what is he known for?

Mitchell P. Rales is an American businessman and art collector known for co-founding Danaher Corporation and for his leadership roles as Chairman of their executive committee, Chairman of ESAB, and President of the National Gallery of Art. He's also a founder of the Glenstone art museum.

What is Glenstone museum and who established it?

Glenstone is an art museum located in Potomac, Maryland, established by Mitchell P. Rales and his wife Emily Wei Rales. It features the Rales's collection of post-World War II art and is free to visit with an online booking. In 2021, the Rales donated $1.9 billion to the Glenstone Foundation.

What are some career highlights and legal issues Mitchell P. Rales faced?

Mitchell P. Rales founded Equity Group Holdings in 1979, which later became Danaher Corporation. He has been involved in various business ventures, including a failed takeover bid for Interco and founding Colfax Corporation. He was once fined by the FTC and DOJ for antitrust violations. Rales has also made significant moves in the corporate world, such as becoming majority shareholder of Fortive and recently becoming a top partner in purchasing the Washington Commanders.