Neil Bluhm

Last updated
Neil G. Bluhm
Born1938 (age 85–86)
Chicago, Illinois, US
Alma mater University of Illinois (B.A.)
Northwestern University (J.D.)
OccupationBusinessman
Known forCommercial real estate, casinos
Spouse(s)Kimberly Paige Bluhm (m. 2022), Barbara Bluhm-Kaul (divorced)
Children3

Neil Gary Bluhm (born 1938) is an American billionaire real estate and casino magnate. He is a partner of Midwest Gaming & Entertainment, which owns several casinos. [1] [2] [3] He had an estimated net worth of US$7 billion in October 2021. [4]

Contents

Early life

Bluhm was born to a Jewish family in 1938 in Chicago. [4] [5] His father left the family when he was 13, and his mother worked as a bookkeeper. [1] He grew up in a cramped apartment near his immigrant grandparents. He attended a high school on Chicago's northwest side. [6]

He graduated from the University of Illinois at Urbana-Champaign in 1959, studying accounting, and in 1962, he received a juris doctor degree from Northwestern University. [4] [1] In 2009, he received Northwestern's Alumni Medal, the highest honor an alumnus can receive from the university. [7]

Career

He started his career as a lawyer and eventually a partner in the Chicago law firm of Mayer, Brown & Platt. In 1969, he co-founded JMB Realty [1] with Judd Malkin, his high school friend and college roommate. [8] [6]

In 1994, he co-founded Walton Street Capital, a private equity firm. Soon thereafter, with Greg Carlin, he co-founded Rush Street Gaming. [8]

Bluhm and his children own real estate in Chicago and elsewhere, including Chicago's 900 North Michigan and Four Seasons and Ritz Carlton Hotels. The family is a minority owner of the Chicago Bulls and Chicago White Sox. [9] [10]

According to Forbes, he had a net worth of US$7.0 billion in October 2021. [4]

Personal life

He is divorced from art collector and philanthropist Barbara Bluhm-Kaul. They have 3 children: Andy Bluhm, who runs hedge fund Delaware Street Capital; [1] Leslie Bluhm, who co-founded Chicago Cares, [1] and currently serves as a Director on the Board of AmeriCorps under the Biden administration, [1] and Meredith Bluhm-Wolf, who helps direct the family's business and charitable foundation. [1] He is currently married to Kimberly Paige Bluhm. [11]

He lives in Chicago. [4] In December 2018, he purchased an apartment near Miami for $20 million. [12]

An art patron, he sits on the board of trustees of the Art Institute of Chicago and the Whitney Museum of American Art. [4] He has an art collection worth $300 million. [4] He sits on the board of trustees of Northwestern University. [13]

Political contributions

Bluhm is a Democrat. He hosted President Barack Obama's 49th birthday party, where admission cost a $30,000 donation to the Democratic National Committee. [4] [1] He has contributed to the campaigns of Hillary Clinton, Dick Durbin, Melissa Bean, Rahm Emanuel, Lisa Madigan, Rod Blagojevich, Lou Lang, and Michael Madigan. [1] In 2017, Bluhm was criticized after calling in a request to Rahm Emanuel after making a $300,000 contribution. [14]

Philanthropy

In 2005, he funded the Bluhm Cardiovascular Institute with a $10 million gift. [15]

In 2013, he made a $25 million gift to Northwestern University, including $15 million earmarked for the Northwestern University Pritzker School of Law. [16]

In 2015, he made a $1 million donation to the School of the Art Institute of Chicago. [17]

In 2022, he made a $45 million donation to Northwestern Medicine to establish the Bluhm Heart Hospital. [18]

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References

  1. 1 2 3 4 5 6 7 8 9 10 "Board Member Confirmation: Leslie Bluhn". www.americorps.gov. July 22, 2022.
  2. ↑ Harris, Melissa (July 17, 2011). "Knowing when to hold them" . Chicago Tribune .
  3. ↑ Harris, Melissa (March 16, 2015). "Son of billionaire casino magnate Neil Bluhm invests in competitor". Chicago Tribune .
  4. 1 2 3 4 5 6 7 8 "Neil Bluhm". Forbes . Retrieved 18 July 2021.
  5. ↑ Cutler, Irving (1996). The Jews of Chicago: From Shtetl to Suburb. University of Illinois Press. ISBN   9780252021855.
  6. 1 2 Phillips, Stephen (June 13, 1987). "A REALTY CONCERN WITH A BIG APPETITE" . The New York Times .
  7. ↑ "Motion to Lead: The Campaign for Northwestern Pritzker School of Law". Northwestern University.
  8. 1 2 "Neil Bluhm". Rush Street Gaming.
  9. ↑ "Media Guide" (PDF). Chicago Bulls. 2016. p. 7.
  10. ↑ "Neil Bluhm". Forbes . Retrieved 2020-09-07. He [Bluhm] owns a minority stake in the Chicago Bulls and Chicago White Sox.
  11. ↑ Hofheinz, Darrell. "Real estate, casino billionaire Bluhm on buyer's side of $7.4M Palm Beach condo deal". Palm Beach Daily News. Retrieved 2024-01-03.
  12. ↑ RODKIN, DENNIS (December 4, 2018). "Neil Bluhm buys $20 million Florida condo". Crain Communications .
  13. ↑ "Life Trustees: Administration and Planning". Northwestern University.
  14. ↑ Neubauer, Chuck; Bergo, Sandy (January 9, 2017). "Rahm Emails Show Casino Chief Sought Help After Family Contributed To Mayor". Better Government Association .
  15. ↑ Kapos, Shia (February 27, 2015). "Billionaire developer Bluhm's favorite project". Crain Communications .
  16. ↑ Lazare, Lewis (December 17, 2013). "NU School of Law receives its largest gift ever". American City Business Journals .
  17. ↑ Kapos, Shia (September 2, 2015). "Neil Bluhm, Holly Hunt each donate $1 million to School of Art Institute". Crain Communications .
  18. ↑ Schencker, Lisa (February 14, 2022). "Northwestern plans new 'heart hospital,' with $45 million donation from billionaire Neil Bluhm". Chicago Tribune .
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