The Rise of the Rubell Family: How They Made their Fortune

How did the Rubells make their money?
After more than twenty years of accumulating art, the Rubells inherited great wealth from Don’s brother, Studio 54 impresario Steve Rubell, who died of an AIDS-related illness in 1989. Their new financial status didn’t change their basic approach to collecting: discovering unknown talent.
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In the realm of art, the Rubell family is well-known. They are well-known for having a sizable collection of modern artwork, which is on exhibit in their own private museum, the Rubell Museum in Miami. However, a lot of individuals are interested in the family’s financial success story.

The Rubell family’s fortune can be attributed to their work in the hotel sector. Don and Mera Rubell established a chain of motels in New York City in the 1950s. Later, they would expand their operations into other states, among them Florida, where in 1971 they inaugurated the Royal Palm Hotel in Miami Beach. The Rubell family’s success with the hotel helped them become established businesspeople in the hospitality sector.

The Rubell family first made real estate investments in the 1980s. They bought a Miami warehouse and turned it into a sizable storage facility for their expanding art collection. The family also began purchasing and refurbishing homes in Miami’s Wynwood neighborhood, which at the time was a dilapidated industrial region. The Rubells noticed Wynwood’s potential and thought it may develop into a center for artists and art buyers.

The neighborhood is now well-known for its street art, galleries, and art events because their vision for Wynwood was realized. The Wynwood neighborhood has been revitalized because to the Rubell family’s investments, and they are still actively involved in its growth.

The Rubell family is renowned for their philanthropy in addition to their commercial endeavors. They have made numerous donations totaling millions of dollars to institutions such as the National YoungArts Foundation, the Brooklyn Academy of Music, and the Whitney Museum of American Art. In addition to being accessible to everyone, the Rubell Family Collection also provides educational events and tours for visitors and school groups.

It’s wise to always dress appropriately if you intend to attend a gallery opening. Typically, dressy casual clothes is acceptable, but it’s crucial to confirm the dress code in advance. To take notes on the works of art you visit, you might also want to bring a small notepad and a pen. Last but not least, remember to bring an open mind and your curiosity. Take your time and fully savor the experience since art is meant to be savored and appreciated.