10 Things You Didn’t Know About ‘Mitchell Rales’

Mitchell Rales, an American entrepreneur, and philanthropist, is a well-renowned name in the business world. He is best known as the co-founder of Danaher Corporation, a multinational conglomerate. While his business acumen is eminent, there’s more to Rales that is absolutely intriguing. In this article, we delve into ten facts about Mitchell Rales that may surprise you.

1. Rales’ upbringing and early life

Mitchell Rales was born on August 23, 1956, in Bethesda, Maryland. His parents were Norman and Ruth Rales, and it was from them that young Mitchell and his brother, Steven, received their first lessons in entrepreneurship. Their father ran a successful real estate business, which greatly influenced their career paths.

Rales attended Walt Whitman High School before enrolling at DePauw University, where he earned a Bachelor’s degree in Business Administration. Although he is a billionaire today, Rales’ humble upbringing played a significant role in shaping his future.

2. His journey to establishing Danaher Corporation

Together with his brother, Steven, Rales co-founded Danaher Corporation, a globally recognized conglomerate. Danaher began in 1983 with a simple idea to create a manufacturing company that delivers “continuous customer-driven improvement.”

Interestingly, the name Danaher was derived from a tributary of the South Fork Flathead River in western Montana – a place where the Rales brothers enjoyed fishing. The company’s journey wasn’t easy, but their perseverance and entrepreneurial spirit paid off.

3. Rales’ leadership style

Rales’ leadership style is something to be emulated. He strongly believes in giving his employees autonomy and creative freedom, attributing a lot of Danaher’s success to this approach.

Under his guidance, the company has managed to infiltrate and establish a presence in various industries. His conviction in his staff and innovative approach are often cited as driving forces behind Danaher’s continued growth.

4. Remarkable Art Collection

Rales is known to be a passionate and discerning art collector. His collection spans across centuries, and he owns works from renowned artists like Pablo Picasso, Mark Rothko, Alexander Calder, and Vincent van Gogh.

His love for art motivated him to open Glenstone, a private contemporary art museum located in Potomac, Maryland. Mitchell and his wife, Emily, value the museum as an avenue to make important art pieces accessible to the public.

5. Philanthropy

Rales is not just a successful entrepreneur; he is also a dedicated philanthropist. The ‘Daniel and Jane Rales Foundation’ and ‘Ruth Rales Foundation’ ties into his family history, honouring his parents.

The Rales’ foundations focus on various areas, including education, health, and Jewish causes. The causes he supports stem from personal experiences and are a testament to his commitment towards helping the less fortunate.

6. Family Life

Rales is married to Emily Rales, an art historian and curator. Together, they have four children. Their shared passion for art reflects in their work and home.

Rales maintains a close-knit family life, ensuring a balanced work and home life. His children are now following in his footsteps, taking on more roles within the family business.

7. Rales’ Net Worth

As of 2021, Mitchell Rales’ net worth is estimated to be around $6.7 billion. His wealth mainly stems from his stake in Danaher, where he reportedly owns about 11% of the company.

Despite his immense wealth, Rales prefers to maintain a relatively low profile and remains selective about his public appearances.

8. Recognition and Awards

Rales and his brother were awarded honorary doctorates by their alma mater, DePauw University, in 2005. For their contributions to the business world, they were also inducted into the Washington Business Hall of Fame in 2002.

Mitchell’s incredible business acumen and dedication have been recognized in various forms throughout his career.

9. Passion for Green and Sustainable Living

Rales is deeply dedicated to sustainable living and green initiatives. Glenstone, his private museum, is also a testament to this. The long-term sustainability of the environment is a consideration that features heavily in all of his business decisions.

10. Rales’ Private Life

Despite being a billionaire entrepreneur, Mitchell Rales is a quiet and reserved person who prefers to stay away from the public eye. He values his private life greatly and rarely makes media appearances unless necessary.

He has learned to balance his personal life and his role as the co-founder of Danaher. This has allowed him to achieve an equilibrium that many entrepreneurs strive for but few ever attain.

Mitchell Rales is an embodiment of dedication, passion, and commitment. He is a living example of the American Dream, having built a billion-dollar corporation from scratch. More importantly, he has given back to the community in many inspiring ways.

Concluding this article, here are some links that are particularly useful if you’re interested in knowing more about Mitchell Rales:

Danaher Corporation

Glenstone Museum.