Jay Bloom

Last updated

Jay Bloom
Born
Jay Lawrence Bloom

1967or1968(age 55–56)
Tachikawa, Air Force Base, Japan
NationalityAmerican
Education Rutgers University
Fordham University
Occupation(s) Financier
Real estate developer
SpouseCarolyn Farkas
Children1
Website jaybloom.com

Jay Bloom (born 1967/1968) [1] is an American investor, real estate developer, and entrepreneur based in Las Vegas, Nevada.

Contents

Early life and education

Bloom was born in Tachikawa, Japan, on a US Air Force base where his father was serving. He was raised Jewish. [2] He has an MBA from Fordham University. [2]

Career

While still in college, he started Magnavest, an investment company that covered call option writing. After graduation, he worked for ten years at Manufacturers Hanover Trust in New York City, becoming an officer working in portfolio risk management and later in real estate risk management. [2]

In 1996, he and his wife also founded a veterinary discount company, Pet Assure. [1] [2] [3] After selling the company, he retired at 33, but became interested in flying helicopters. He earned a private helicopter pilot's license and bought his own helicopter, then bought the flight school and founded a company that offered 3-minute flights from piers on the New Jersey coast. [2] The 9-11 attacks made that business unprofitable; based on an arrangement with Eastman Kodak to sell souvenir photographs to tourists, he then founded Nactor, which sold souvenir photographs at amusement parks, zoos, and other large attractions. [2]

In Las Vegas, Bloom heads a number of real estate investment and development companies. He is chairman of First 100 LLC, which buys and forecloses on home owners association liens. [4] [5] His home is owned by Spanish Heights Acquisition Company, and he is a manager of SJC Ventures, a property management company. [6] He co-founded and is executive chairman of Pegasus Group Holdings, which develops and operates data centers that use renewable energy. [5] [7] He is reportedly a billionaire. [8]

Bloom was managing partner of the Mob Experience, a Mafia-themed attraction that opened in 2011 at the Tropicana casino on the Las Vegas Strip. [9] [10] He left the company later that year amid accusations of diverting funds and misrepresenting company finances. [11] There were also lawsuits over ownership of memorabilia on display. The attraction declared bankruptcy, was purchased, and closed in 2013. [8] Bloom subsequently planned to reimburse investors by opening a chain of temporary International Mob Experience Museums with leased exhibits. [12] Other entertainment ventures have included producing performances at the then Gladys Knight Theater at the Tropicana and a planned Star Wars-themed entertainment and retail center on the Strip. [10] In 2018, he co-founded Police Chase Las Vegas, which offers participation in a simulated police chase at the Las Vegas Motor Speedway, as either a police officer or a fugitive. The company started operations in early 2019. [13]

Since 2020, Bloom has been involved in efforts to bring an NBA team to Las Vegas. Initially interested in purchasing the Minnesota Timberwolves, in 2021 he formed an investor group including motivational speaker Tony Robbins and former NBA player Marcus Banks III with the objective of securing an expansion team. [6] [7] [8] [14]

Personal life

Bloom is married to Carolyn Farkas. [11] In 2022 and 2023, OceanGate CEO Stockton Rush invited him and his son to visit the wreck of the Titanic aboard the company's submersible Titan . Bloom declined, following safety concerns. [5] [15] [16] [17] On that dive, the submarine catastrophically imploded, killing Rush and four others.

Bloom has a twenty-two year-old son. [18] [19]

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References

  1. 1 2 Hansen, Susan (September 1999). "Discount Club Throws Bone to Pet Owners". Inc. Archived from the original on December 18, 2023. Retrieved December 18, 2023.
  2. 1 2 3 4 5 6 Gantz, Nesanel (July 12, 2023). "Bloom Family Office". Ami (interview). Archived from the original on December 18, 2023. Retrieved December 18, 2023.
  3. ↑ Defterios, John (October 30, 1997). "Pet health-care biz booms". CNN Money. Archived from the original on December 18, 2023. Retrieved December 18, 2023.
  4. ↑ Candee, Adam (March 29, 2017). "Nevada real estate investment firm receives $2.2 billion judgment". Las Vegas Sun. Archived from the original on August 20, 2022. Retrieved December 18, 2023.
  5. 1 2 3 "Jay Bloom, the millionaire who refused to get on the Titan submersible". Marca. June 27, 2023. Archived from the original on December 11, 2023. Retrieved December 11, 2023.
  6. 1 2 Ferrara, David (September 27, 2021). "Las Vegas investor embroiled in litigation as he shoots for NBA expansion". Las Vegas Review-Journal. Archived from the original on December 10, 2023. Retrieved December 12, 2023.
  7. 1 2 Helin, Kurt (June 4, 2021). "Jay Bloom reportedly lined up ownership group to bring NBA expansion to Las Vegas". NBC Sports. Archived from the original on December 12, 2023. Retrieved December 12, 2023.
  8. 1 2 3 Katsilometes, John (June 4, 2021). "Las Vegas investor leads group aiming to land NBA team". Las Vegas Review-Journal. Archived from the original on December 12, 2023. Retrieved December 12, 2023.
  9. ↑ "Las Vegas celebrates its mob roots with two gang-buster attractions". The Miami Herald. May 3, 2016 [July 14, 2011]. Retrieved December 18, 2023– via The Denver Post.
  10. 1 2 "Jay Bloom's involvement in The Mob Experience, proposed Star Wars attraction in question". Las Vegas Weekly (Kats Report blog). July 24, 2011. Archived from the original on October 2, 2015. Retrieved December 18, 2023.
  11. 1 2 Green, Steve (August 5, 2011). "Civil lawsuit filed over Mob Experience finances". Vegas Inc. (Las Vegas Sun). Archived from the original on December 18, 2023. Retrieved December 18, 2023.
  12. ↑ "Investors in failed Mob Experience: Jay Bloom 'has given us a shot at making our money back'". Vegas Inc. (Las Vegas Sun). August 20, 2014. Archived from the original on October 11, 2023. Retrieved December 18, 2023.
  13. ↑ Darrow, Max (November 19, 2018). "Experience a police chase in Las Vegas, without breaking the law". News 3 Las Vegas. Archived from the original on December 18, 2023. Retrieved December 18, 2023.
  14. ↑ Horwath, Bryan (June 5, 2021). "Group seeking to bring an NBA team to Las Vegas touts its resources, desire". Las Vegas Sun. Archived from the original on December 12, 2023. Retrieved December 12, 2023.
  15. ↑ Ax, Joseph (June 23, 2023). "Why U.S. investor Jay Bloom turned down seats on the doomed Titanic submersible". Reuters. Archived from the original on December 10, 2023. Retrieved December 10, 2023.
  16. ↑ Simpson, Michael Lee. "Las Vegas Financier Gave Up 'Titan' Sub Seats That Went to Billionaire and His 19-Year-Old Son". People. Archived from the original on June 24, 2023. Retrieved December 10, 2023.
  17. ↑ Chung, Gabrielle (June 24, 2023). "Businessman Who Almost Went on OceanGate Titanic Dive Reveals Alleged Texts With CEO on Safety Concerns". E! Online. Archived from the original on December 11, 2023. Retrieved December 11, 2023.
  18. ↑ "'Titan' Family Tragedy Averted Due to Son's Warnings About Safety of Sub". Peoplemag. Retrieved March 14, 2024.
  19. ↑ "Meet Sean Bloom: A young Las Vegas tycoon". Las Vegas Review-Journal. Retrieved May 16, 2024.
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