Mitchell Rales
Encyclopedia
Mitchell Rales is an American businessman. He has been a director of Danaher Corporation
since 1983.
and graduated from Walt Whitman High School
in 1974. He earned a degree in business administration at Miami University
in Oxford, Ohio
in 1978 and was a member of Beta Theta Pi
fraternity
.
.
. Using junk bonds, they bought a diversified line of businesses. They changed the name to Diversified Mortgage Investors, in 1978, and then Danaher, in 1984.
In the 1980s, the AM side of WGMS was sold off to Washington, D.C., venture capital
ists Steven and Mitchell Rales, who converted the music station into the first frequency for WTEM
, a sports-talk station, in 1992
. In 1988, he made a hostile takeover bid for Interco, (including Converse (shoe company), and Ethan Allen (furniture company)
). He later ended the bid after five months with a profit of $60 million.
In May 2008, they engineered the initial public offering of Colfax
, a Richmond, Virginia
industrial pumps manufacturer.
.
, this private art museum was designed by Gwathmey Siegel & Associates Architects. The structure, which is part of an assemblage of buildings and outdoor sculpture, stands across a 3 acres (12,140.6 m²) pond from the client’s home, guesthouse and pool house. The 22000 square feet (2,043.9 m²) museum is a multiple volume, single-level structure clad in zinc panels and French limestone. A large, naturally lit sculpture gallery is the organizing element for a sequence of 18-feet-high gallery spaces with state-of-the-art museum environmental controls, and an administrative office suite. The sculpture gallery is also the gathering space for receptions and special events and opens onto a terrace overlooking the pond and grounds. Support space to one side of the galleries includes high-density art storage, temporary holding space, a service dock and a catering kitchen.
Visitors to the museum grounds must first pass through the estate’s entry gatehouse, and then drive along a maple tree-lined road, passing between two commissioned sculptures by Richard Serra
and Tony Smith
. The cobblestone entry court, anchored by another Richard Serra piece, has views of the pond, the residence and a commissioned Ellsworth Kelly
totem sculpture which acts as the site’s fulcrum.
Access is by appointment only.
Danaher Corporation
The Danaher Corporation , is a large global company headquartered in Washington, D.C., United States. Its products are concentrated in the fields of design, manufacture, and marketing of industrial and consumer products....
since 1983.
Early life and education
Mitchell Rales grew up in Bethesda, MarylandBethesda, Maryland
Bethesda is a census designated place in southern Montgomery County, Maryland, United States, just northwest of Washington, D.C. It takes its name from a local church, the Bethesda Meeting House , which in turn took its name from Jerusalem's Pool of Bethesda...
and graduated from Walt Whitman High School
Walt Whitman High School
Walt Whitman High School is a public secondary institution serving roughly the western part of Bethesda--an unincorporated suburban area of Washington, DC, in Montgomery County, Maryland. The school is named in honor of the American poet. It is fed into by Thomas W. Pyle Middle School.-History:The...
in 1974. He earned a degree in business administration at Miami University
Miami University
Miami University is a coeducational public research university located in Oxford, Ohio, United States. Founded in 1809, it is the 10th oldest public university in the United States and the second oldest university in Ohio, founded four years after Ohio University. In its 2012 edition, U.S...
in Oxford, Ohio
Oxford, Ohio
Oxford is a city in northwestern Butler County, Ohio, United States, in the southwestern portion of the state. It lies in Oxford Township, originally called the College Township. The population was 21,943 at the 2000 census. This college town was founded as a home for Miami University. Oxford...
in 1978 and was a member of Beta Theta Pi
Beta Theta Pi
Beta Theta Pi , often just called Beta, is a social collegiate fraternity that was founded in 1839 at Miami University in Oxford, Ohio, USA, where it is part of the Miami Triad which includes Phi Delta Theta and Sigma Chi. It has over 138 active chapters and colonies in the United States and Canada...
fraternity
Fraternity
A fraternity is a brotherhood, though the term usually connotes a distinct or formal organization. An organization referred to as a fraternity may be a:*Secret society*Chivalric order*Benefit society*Friendly society*Social club*Trade union...
.
.
Career
In 1979, he left his father's real estate firm to found Equity Group Holdings, with his brother Steven M. RalesSteven M. Rales
-Education:Steven was a 1969 graduate of Walt Whitman High School, Bethesda, Maryland.He was a 1973 graduate of DePauw University, where he was in the Beta Theta Pi fraternity.He was awarded a J.D. from American University in 1978.-Investments:...
. Using junk bonds, they bought a diversified line of businesses. They changed the name to Diversified Mortgage Investors, in 1978, and then Danaher, in 1984.
In the 1980s, the AM side of WGMS was sold off to Washington, D.C., venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
ists Steven and Mitchell Rales, who converted the music station into the first frequency for WTEM
WTEM
WTEM — branded ESPN 980 — is a sports radio station licensed to Washington, D.C. and serving the Washington metro area. It is the flagship of a sports talk trimulcast with WWXT in Prince Frederick, Maryland and WWXX in Buckland, Virginia, all affiliated with ESPN Radio and owned by Red Zebra...
, a sports-talk station, in 1992
1992 in radio
The year 1992 in radio involved some significant events.-Events:* January 22 - Rebel forces occupy Zaire's national radio station in Kinshasa and broadcast a demand for the government's resignation.* February 12 - Washington, D.C...
. In 1988, he made a hostile takeover bid for Interco, (including Converse (shoe company), and Ethan Allen (furniture company)
Ethan Allen (furniture company)
Ethan Allen Global, Inc. is a North American furniture chain with almost 300 stores across the United States, Canada and the United Kingdom. It was founded in 1932 by two brothers-in-law, Nathan S...
). He later ended the bid after five months with a profit of $60 million.
In May 2008, they engineered the initial public offering of Colfax
Colfax
- Historical events :* Colfax massacre, an 1873 incident in Colfax, Louisiana* Colfax County War in New Mexico in 1876 between settlers and the Santa Fe Ring* 1958 Colfax, Wisconsin tornado outbreak which killed at least 28 people...
, a Richmond, Virginia
Richmond, Virginia
Richmond is the capital of the Commonwealth of Virginia, in the United States. It is an independent city and not part of any county. Richmond is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond area...
industrial pumps manufacturer.
Philanthropy
He is on the boards of both the Hirshhorn Museum and the National Gallery of ArtNational Gallery of Art
The National Gallery of Art and its Sculpture Garden is a national art museum, located on the National Mall between 3rd and 9th Streets at Constitution Avenue NW, in Washington, DC...
.
Glenstone Museum
The museum houses his collection of modern and contemporary masterworks. Located on 125 acre (0.5058575 km²) of landscaped lawns, meadows and woods in Potomac, MarylandPotomac, Maryland
Potomac is a census-designated place in Montgomery County, Maryland, United States, named for the nearby Potomac River. The population was 44,822 at the 2000 census. The Potomac area is known for its very affluent and highly-educated residents. In 2009 CNNMoney.com listed Potomac as the fourth...
, this private art museum was designed by Gwathmey Siegel & Associates Architects. The structure, which is part of an assemblage of buildings and outdoor sculpture, stands across a 3 acres (12,140.6 m²) pond from the client’s home, guesthouse and pool house. The 22000 square feet (2,043.9 m²) museum is a multiple volume, single-level structure clad in zinc panels and French limestone. A large, naturally lit sculpture gallery is the organizing element for a sequence of 18-feet-high gallery spaces with state-of-the-art museum environmental controls, and an administrative office suite. The sculpture gallery is also the gathering space for receptions and special events and opens onto a terrace overlooking the pond and grounds. Support space to one side of the galleries includes high-density art storage, temporary holding space, a service dock and a catering kitchen.
Visitors to the museum grounds must first pass through the estate’s entry gatehouse, and then drive along a maple tree-lined road, passing between two commissioned sculptures by Richard Serra
Richard Serra
Richard Serra is an American minimalist sculptor and video artist known for working with large-scale assemblies of sheet metal. Serra was involved in the Process Art Movement.-Early life and education:...
and Tony Smith
Tony Smith (sculptor)
Tony Smith was an American sculptor, visual artist, architectural designer, and a noted theorist on art. He is often cited as a pioneering figure in American Minimalist sculpture.-Education:...
. The cobblestone entry court, anchored by another Richard Serra piece, has views of the pond, the residence and a commissioned Ellsworth Kelly
Ellsworth Kelly
Ellsworth Kelly is an American painter and sculptor associated with Hard-edge painting, Color Field painting and the Minimalist school. His works demonstrate unassuming techniques emphasizing the simplicity of form found similar to the work of John McLaughlin. Kelly often employs bright colors to...
totem sculpture which acts as the site’s fulcrum.
Access is by appointment only.
External links
- #323 Mitchell Rales profile in Forbes The World's Billionaires, 2007