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Billionaire Profile
Jeffrey Michael & family
Global Rank
#2224

Image: Public domain | via Wikimedia Commons

Jeffrey Michael & family

CEO, CorVel Corporation
US
Real-Time Net Worth
$1.7B
As of December 2025
Age
69
Source
Data management
Industry
technology
Citizenship
US

Biography

Jeffrey Michael, born in 1955 or 1956, is a prominent figure in the technology sector, known for co-founding CorVel Corporation in 1987, initially named FORTIS. Alongside Gordon Clemons and Jim Michael, he transformed the company from a consolidation of small vocational rehabilitation firms into a leading provider of workers' compensation solutions. Residing in Minnetonka, Minnesota, with his family, Michael's strategic vision and leadership have significantly contributed to CorVel's growth, with the company generating $795 million in revenue in 2024. His net worth is estimated to be $1.7 billion, as of late 2024, with his wealth primarily stemming from Data Management and the technology industry.

Wealth Over Time

In-Depth Profile

Early Life

Born in 1955 or 1956, Jeffrey Michael's early life details are limited, with the focus primarily on his business ventures.

Rise to Success

Jeffrey Michael co-founded CorVel Corporation, originally FORTIS, in 1987 with Gordon Clemons and Jim Michael. The initial venture was a merger of three small vocational rehabilitation firms, valued at $2 million with over 200 associates. Through strategic leadership, the company evolved into a national provider of risk management solutions, marking a significant rise in the healthcare technology sector. As of 2022, Michael's ownership stake in the company, held through Corstar Holdings, Inc., accounts for 38% of CorVel.

Key Business Strategies

The key to Michael's success lies in his early recognition of the need for integrated risk management solutions. His strategy involved consolidating smaller entities and expanding the scope of services to offer comprehensive solutions to employers and payors. This approach enabled CorVel to become a leader in the workers' compensation industry.

Philanthropy

Jeffrey Michael is known for his philanthropic efforts, though specific details on amounts or organizations are not readily available in the search results.

Career Milestones

1987

Co-founded CorVel Corporation (originally FORTIS)

Joined with Gordon Clemons and Jim Michael to create CorVel.

2024

CorVel Generated Revenue

The company generated $795 million of revenue in 2024.

Philanthropy & Social Impact

General

Unknown

Undisclosed

Jeffrey Michael is known for philanthropic efforts.