Cavs Owner Gilbert Wants to Donate His Billions—and Walk Again

When the company behind Rocket Mortgage—the largest retail home loan originator in the US—went public in 2020, Americans enjoying cheap money and still-warm stimulus checks were happily refinancing at a rapid clip. The lender, then called Quicken Loans, generated the vast majority of parent Rocket Cos.’ $15.7 billion in revenue that year, making majority owner Dan Gilbert one of the richest people on Earth. In the five years since, the federal benchmark interest rate has ballooned to a punitive 4.5% on the upper end, and analysts estimate Rocket will record about $5.5 billion in annual revenue in ...