Even a multibillionaire like Gilbert needs to cash out of some things occasionally to give himself some liquidity.
Kathleen Galligan, Detroit Free Press Of course he won't pocket that full billion.
But even with those subtractions, Gilbert and his partners should still net a few hundred million dollars from the sale.
Does he need the cash?
This is all speculative, because Gilbert's businesses remain privately held and not subject to the same disclosure rules that public companies like Ford or Price is right new game time is money Motors must follow.
May 31, 2018; Oakland, CA, USA; Cleveland Cavaliers owner Dan Gilbert during the third quarter against the Golden State Warriors in game one of the 2018 NBA Finals at Oracle Arena.
Mandatory Credit: Kyle Terada-USA TODAY Sports Kyle Terada, Kyle Terada-USA TODAY Sports Rising interest rates First, his Quicken Loans online mortgage company remains the flagship of his far-flung family of companies.
Quicken relies on mortgage refinancings for a lot of its business.
As interest rates rise, refinancing becomes less attractive to homeowners.
And interest rates are rising.
That means that Quicken may be getting less business now than a couple of years ago.
Or no deposit cash poker may be cutting margins to keep up its volume.
Either way, it would mean less cash left over for Gilbert's many other projects.
That, too, calls on his cash reserves.
But major sports franchises are expensive to operate.
That's another cash drain.
Ambitious building plans Third, Gilbert has mapped ambitious plans for downtown Detroit, and these projects will cost a great deal of money before they bring in any revenue.
Top of that list is the Hudson's site project, now in the early stages of construction.
Gilbert also plans to break ground soon on his Monroe Block project near Campus Martius Park, and he's planning to renovate the classic Book Tower and build a major extension on One Campus Martius, the former Compuware Building where Gilbert has his headquarters.
He'll get some generous tax incentives to help him cover the cost.
But it will be at least another three or four years before those projects start throwing off cash.
Read more: Startups can be money pits Then there are Gilbert's dozens of spin-off ventures, like the Rocket Fiber high-speed Internet service or his StockX exchange price is right new game time is money high-end sneakers and other collectibles.
They may or may not be generating any profits yet.
We don't know because those companies are private.
But startups require a lot of remarkable, cash man online game ca for up front and normally have to operate for at least a few years before generating significant profits.
We does greektown casino cash checks no reason to think Gilbert-backed startups are any different.
Clouds on the horizon Finally, Gilbert is facing at least a potential of major penalties in two legal cases that he's fighting.
Gilbert has vigorously denied the allegations and may in fact avoid the penalty when the case finally ends.
And then there's the U.
Justice Department's lawsuit charging that Quicken Loans played fast and loose with government lending guidelines during the Great Recession era.
Gilbert is aggressively defending Quicken against the charges in that case, too, and his company may yet escape any penalty.
But if a judgement goes against him when the case goes to trial next year, the penalty could run to hundreds of millions of dollars.
Read more: As I said, this is speculation.
But all in all, this looks like a good time for Gilbert to raise a little cash.
Or, maybe, a lot of cash.
Contact John Gallagher: 313-222-5173 or gallagher freepress.
Greektown Casino-Hotel Cage Cashiers earn $38,000 annually, or $18 per hour, which is 45% higher than the national average for all Cage Cashiers at $24,000 annually and 46% lower than the national salary average for all working Americans.
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