Early Life and Education
Neil Gary Bluhm was born in Chicago, Illinois, in 1938. He came from a Jewish family and demonstrated an early interest in business and law. After his father left the family, his mother worked as a bookkeeper. He attended the University of Illinois at Urbana-Champaign, where he earned a degree in accounting in 1959. He later pursued a Juris Doctor degree from Northwestern University in 1962.
Rise to Success
Bluhm started his career as a lawyer, eventually becoming a partner at the Chicago law firm Mayer, Brown & Platt. In 1969, he co-founded JMB Realty with Judd Malkin. This venture proved highly successful, and JMB Realty became one of the largest property owners and developers in the United States. In 1994, he co-founded Walton Street Capital, a private equity firm focused on real estate investments. Soon thereafter, Bluhm co-founded Rush Street Gaming, a company that has become a significant player in the gaming industry. He is also a minority owner of the Chicago Bulls and Chicago White Sox.
Key Business Strategies
Bluhm's success is attributed to his strategic vision and ability to identify lucrative opportunities. His key strategies include:
- Diversification: Bluhm expanded his business interests from real estate to include casinos and online gaming, diversifying his revenue streams.
- Strategic Partnerships: Forming JMB Realty with Judd Malkin and co-founding Rush Street Gaming with Greg Carlin facilitated growth and leveraged expertise.
- Risk Management: While known for taking calculated risks, Bluhm focused on acquiring high-quality properties to mitigate economic downturns.
Philanthropy
Neil Bluhm is actively involved in philanthropy, contributing significantly to various causes. In 2005, he funded the Bluhm Cardiovascular Institute with a $10 million gift. He has also donated to Northwestern University, including a $15 million gift to the Northwestern University Pritzker School of Law. Other contributions include a donation to the School of the Art Institute of Chicago and a $45 million donation to establish the Bluhm Heart Hospital at Northwestern Medicine.
