Steven Rales

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Steven M. Rales (born March 31, 1951) is an American businessman and film producer. He founded Danaher Corporation with his brother Mitchell Rales in 1984 and is its chairman. Rales also founded the film production company Indian Paintbrush in 2006, which works closely with filmmaker Wes Anderson. His work with Anderson has resulted in three Academy Award nominations, winning Best Live Action Short Film for The Wonderful Story of Henry Sugar (2023). Rales also owns the media distribution companies Janus Films and The Criterion Collection and holds a 20% stake in the Indiana Pacers of the National Basketball Association (NBA). His net worth was estimated by Forbes in 2024 to be $8.9 billion.

Early life

Raised in a Jewish family,[1] Rales is one of four sons of Ruth (née Abramson) and Norman Rales.[2] His father was raised in the Hebrew Orphan Asylum of New York and later became a businessman and philanthropist in Washington, D.C. credited for enacting the first employee stock ownership plan transaction in U.S. history.[3][4][5] In 1969, Rales graduated from Walt Whitman High School in Bethesda, Maryland.[6] In 1973, he graduated from DePauw University, where he was in the Beta Theta Pi fraternity. In 1978, he earned a juris doctor (JD) degree from American University.

Career

In 1979, he left his father's real estate firm to found Equity Group Holdings with his brother Mitchell Rales. Using junk bonds, they bought a diversified line of businesses. They changed the name to Diversified Mortgage Investors in 1978 and to Danaher in 1984, with him serving as its chairman since then.[7][8] In 1985, they bought Easco Corporation, the then-largest independent aluminum extrusion manufacturer and hand tool manufacturer which produced the Craftsman brand of sockets and wrenches for Sears.Script error: No such module "Unsubst".

In 1988, they made a hostile takeover bid for Interco, a conglomerate comprising manufacturers as diverse as Converse shoes and Ethan Allen furniture.[9][10] When the company responded with a poison pill, they sued, and prevailed in court.[11] They later ended the bid after five months with a profit of $60 million.[12]

In 1992, the AM side of WGMS was sold off to the Rales brothers who converted the music station into the first frequency for WTEM, the first full-time sports talk radio station in the Washington metropolitan area. He and his brother founded Colfax Corporation in 1995, an industrial pumps manufacturer based in Richmond, Virginia. In 2008, Rales engineered the initial public offering of the company.[13] Rales also owns a 20% stake in the Indiana Pacers, a National Basketball Association (NBA) team.[14]

Indian Paintbrush

Rales founded the film production company Indian Paintbrush in 2006. The company works frequently with filmmaker Wes Anderson, producing films such as Moonrise Kingdom, The Grand Budapest Hotel, and Isle of Dogs.[15][16] Rales has earned three Academy Award nominations for his work with Anderson, winning Best Live Action Short Film for The Wonderful Story of Henry Sugar (2023) at the 96th Academy Awards.[17] In May 2024, he acquired media distribution companies Janus Films and The Criterion Collection.[18]

List of films produced by Rales
Year Title Director
2012 Moonrise Kingdom Wes Anderson
2014 The Grand Budapest Hotel Wes Anderson
2015 Me and Earl and the Dying Girl Alfonso Gomez-Rejon
2018 Isle of Dogs Wes Anderson
2021 The French Dispatch Wes Anderson
2023 Asteroid City Wes Anderson
The Wonderful Story of Henry Sugar Wes Anderson
My Mother's Wedding Kristin Scott Thomas
2024 My Old Ass Megan Park
The Wonderful Story of Henry Sugar and Three More Wes Anderson
2025 The Phoenician Scheme Wes Anderson

Personal life

File:Steven and Lalage Rales Stairs (cropped).jpg
Rales and his wife Lalage in 2016

Rales was married to Christine Plank from 1983 to 2003.[19][20] They have three children: Alexander, Gregory, and Stephanie.[21][22][23] He married Lalage Damerell in 2012, the mother of writer and former CIA officer Amaryllis Fox Kennedy.

Rales was a major donor in the 2002 dedication of the Peeler Art Center at DePauw.[24] As of November 2024Script error: No such module "Check for unknown parameters"., he held a net worth of $8.9 billion according to Forbes.[25]

References

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  1. ↑ Washington Jewish Week: "Five local Jews make Forbes richest list" Script error: No such module "webarchive". October 7, 2009
  2. ↑ Script error: No such module "citation/CS1".
  3. ↑ Script error: No such module "citation/CS1".
  4. ↑ Sun Sentinel: "Norman Rales, orphan to wealthy businessman and philanthropist, is dead at 88" By Lisa J. Huriash March 15, 2012
  5. ↑ Jewish Family Service: "Ruth Rales, 81, Philanthropist by Tal Abbady April 1, 2004
  6. ↑ Script error: No such module "citation/CS1".
  7. ↑ Script error: No such module "citation/CS1".
  8. ↑ Script error: No such module "citation/CS1".
  9. ↑ Script error: No such module "citation/CS1".
  10. ↑ Script error: No such module "citation/CS1".
  11. ↑ Script error: No such module "citation/CS1".
  12. ↑ Script error: No such module "citation/CS1".
  13. ↑ Script error: No such module "citation/CS1".
  14. ↑ Script error: No such module "citation/CS1".
  15. ↑ Script error: No such module "citation/CS1".
  16. ↑ Script error: No such module "citation/CS1".
  17. ↑ Script error: No such module "citation/CS1".
  18. ↑ Script error: No such module "citation/CS1".
  19. ↑ Washingtonian Magazine: "Best Places To Live" by Kimberly Palmer And Mollie Reilly May 2012
  20. ↑ DePauw University: Peeler Art Center Dedicated as Donor Remembers the Building's Namesake, Her Former Professor October 11, 2002
  21. ↑ Find A Case: CHRISTINE P. RALES, APPELLANT v. STEVEN M. RALES, APPELLEE September 28, 2006
  22. ↑ The Ron Brown Scholar Program:Remembering Norman R. Rales - 2010 American Journey Award Recipient"Script error: No such module "Unsubst". March 13, 2012
  23. ↑ Hartford Courant: In the Matter of Marilyn Plank July 11, 2007
  24. ↑ Peeler Art Center Dedicated as Donor Remembers the Building's Namesake, Her Former Professor, DePauw University Script error: No such module "webarchive".
  25. ↑ Script error: No such module "citation/CS1".

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External links

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