Early Life
Daniel Bruce Gilbert was born on January 17, 1962, in Detroit, Michigan, to a Jewish family. He spent his formative years in Southfield, Michigan, and attended Southfield-Lathrup High School. At a young age, Gilbert showed entrepreneurial spirit, organizing a pizza delivery service in his neighborhood. He earned a Bachelor's degree from Michigan State University and a Juris Doctor from Wayne State University Law School. During his college years, Gilbert obtained a real estate agent's license and worked part-time at his parents' Century 21 Real Estate agency.
Rise to Success
In 1985, Gilbert co-founded Rock Financial with Ron Berman, Lindsay Gross, and his younger brother Gary Gilbert. The company quickly adopted an internet strategy in the late 1990s, becoming an early online direct mortgage lender. The company later became known as Quicken Loans and then Rocket Mortgage. By the fourth quarter of 2017, the company had become the largest retail mortgage lender in the United States. In 2020, Quicken Loans and several other tech-driven real estate and personal finance entities became a publicly traded company under the name Rocket Companies.
Key Business Strategies
Rocket Mortgage's success is attributed to its innovative use of technology to streamline the mortgage process. The company's "Mortgage in a Box" feature in 1996 was a pivotal step, allowing customers to complete mortgage applications from home. Rocket Companies has also focused on expanding into complementary areas such as real estate services, personal lending, and auto sales. The company's emphasis on digital solutions and client experience has been a cornerstone of its growth.
Philanthropy
Gilbert and his wife Jennifer are dedicated philanthropists, committing to give half of their wealth to philanthropy through The Giving Pledge. Their philanthropic efforts are primarily channeled through the Gilbert Family Foundation, which invests in Detroit's population and government. The foundation focuses on healthcare, particularly neurofibromatosis research, and has invested hundreds of millions in Detroit's initiatives, including healthcare, education, and economic development.
