By Jeff Ernsthausen and Justin Elliot/ProPublica
Billionaire Dan Gilbert has spent the last decade buying up buildings in downtown Detroit, amassing nearly 100 properties and so completely dominating the area that it’s known as Gilbertville.
In the last few years, Gilbert, the 57-year-old founder of Quicken Loans and owner of the Cleveland Cavaliers, has also grown close to the Trump family. Quicken gave $750,000 to Trump’s inaugural fund. Gilbert has built a relationship with Ivanka Trump, who appeared at one of his Detroit buildings in 2017 for a panel discussion with him. And, last year, he watched the midterm election returns at the White House with President Donald Trump himself, who has called Gilbert “a great friend.”
Gilbert’s cultivation of the Trump family appears to have paid off: Three swaths of downtown Detroit were selected as “opportunity zones” under the Trump tax law, extending a valuable tax break to Gilbert’s real estate empire. Gilbert’s relationship with the White House helped him win his desired tax break, an e-mail obtained by ProPublica suggests.
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Posted on October 29, 2019