David Adelman Net Worth: Founder Of Darco Capital

Originally from the United States, David J. Adelman is now based in Israel. In addition to establishing Darco Capital and co-founding FS Investments, he also serves as CEO of Campus Apartments. After purchasing Michael Rubin’s share in the Philadelphia 76 and New Jersey Devils in October 2022, he became a partial owner of both teams.

David Adelman Net Worth

David Adelman Net Worth

There is no doubt that David Adelman is a successful businessman and he is also one of the wealthiest people in the world. Our research indicates that David Adelman has a net worth of $1.6 billion, as reported by Wikipedia, Forbes, and Business Insider. Adelman worked for the Georgia state government as an assistant attorney general after earning his law degree from Emory University in 1989. Adelman began working for Sutherland Asbill & Brennan LLP as an associate attorney in 1993. Commercial deals and complicated litigation involving businesses in the fields of renewable energy, communications, and technology were the mainstays of his career.

At such a young age, he became one of the company’s equity partners, a position that typically earns its holders well over $1 billion annually. The Director of Media Relations at Columbia University, where he met and wed Caroline Adelman. They have three kids together, Oscar, Leah, and Avery. Adelman asked his future wife to marry him in the Rose Garden of the White House in 1993.

Biography of David Adelman

David Adelman, who was born in the USA on May 24th, 1964, is a well-known businessman. David Adelman’s star sign, according to astrologers, is Gemini. Adelman’s birth date is May 24, 1964, in the Big Apple. He attended Atlanta’s The Lovett School after growing up in the Peach State. In 1986, he graduated with an ABJ from the University of Georgia, in 1989, he earned a JD from Emory University, and in 1995, he earned an MPA from Georgia State University.

The University of Georgia honored him with a Henry Grady Fellowship for his achievements. Emory University’s highest honor, the Emory Medal, was awarded to him. While at the University of Georgia, Adelman spoke in the Honors Program of the School of Public and International Affairs. Graduate-level courses on Asia and the Pacific are among the topics he covers in his role as an Adjunct Professor in the Program in International Relations at New York University. Adelman was given the Distinguished Alumni Award by Georgia State University.

The University of Georgia’s 2010 Commencement Address was delivered by Adelman. To that end, he participated in Emory University’s governance as a member of the university’s Board of Visitors. He is a member of the Board of Visitors at the School of Public and International Affairs at the University of Georgia. Adelman served on the Dean’s Council at the Andrew Young School of Policy Studies. The Center for Strategic and International Studies in Washington, DC, is a think tank where he serves on the Advisory Board of the Southeast Asia Program. American lawmaker, diplomat, and politician David Isaac Adelman were born on May 24, 1964.

Between 2010 through 2013, he served as the U.S. ambassador to Singapore. He is based in New York but frequently visits the Asian branches of the international law firm Reed Smith LLP, where he is a partner. Adelman used to be Goldman Sachs’ managing director. He serves as a senior advisor to indexing business BlueStar Indexes, private equity firm Olympus Capital, and merchant bank Ion Pacific, in addition to his role as an Independent Non-Executive Director at Noble Group Holdings.

Career Life of David Adelman

After Horwitz took on the role of Chairman of Campus Apartments in 1997, Adelman, at the tender age of 25, was promoted to the position of Chief Executive Officer. Adelman, in his capacity as CEO of Campus Apartments, forged a collaboration with the University of Pennsylvania to refurbish off-campus housing.  Because of this, both living conditions and crime rates in University City improved. Adelman has made efforts to broaden the appeal of Campus Apartments beyond its original market of University of Pennsylvania students.

Campus Apartments, which he oversees, has constructed a faculty condo complex and an extended-stay hotel on the University of Pennsylvania campus, as well as residential buildings at Franklin & Marshall College and Emory University. Because of Adelman’s direction, Campus Apartments has amassed almost $2 billion in the property. The Multi-Family Real Estate Executive of the Year award was given to Adelman in 2009. Adelman co-founded the $24 billion alternative investment firm FS Investments in 2007. The company is based in Philadelphia.

Adelman led a $30 million investment into Wheels Up, a private aircraft startup created by serial entrepreneur Kenny Dichter, in 2013. Adelman is in charge of the entire operation as the Head Director. A merger between Wheels Up and Delta Private Jets was announced on December 19, 2019, making Delta Air Lines the company’s largest investor.

The 10th largest private jet charter provider in the United States, Mountain Aviation, was acquired by Wheels Up on January 5, 2021, increasing its fleet size to 350 aircraft. Wheels Up announced a $2.1 billion SPAC-based IPO on February 1, 2021. The merger unites Wheels Up with a SPAC that has financial ties to LVMH and its CEO, Bernard Arnault. During the second quarter of 2021, trading is anticipated to begin.

Adelman is also one of the people behind cred.ai, a FinTech startup that debuted in August of 2020 and uses artificial intelligence to help people get and keep good credit. cred.ai has been dubbed the “Tesla of Banking” and has the backing of high-profile investors including John Legend, Ben Simmons, Tim Armstrong, and Michael Rubin. Adelman and the model, actress, and entrepreneur Olivia Culpo led an investment into the ready-to-drink vodka soda firm VIDE Beverages in October 2020.

Adelman founded Darco Spirits Company on February 18, 2021, acquiring full ownership of American Harvest Vodka and Beach Whiskey. Adelman was named in July 2022 as the chair of 76 Devcorp, a new development corporation tasked with building the Philadelphia 76ers’ new stadium in 76 Place at Market East in the city’s Center City neighborhood.

David Adelman’s Personal Life

Adelman is highly involved in Jewish affairs. Along with being on the board of the USC Shoah Foundation, he is the co-founder of the Jewish Federation Real Estate, the co-chair of the Jewish Federation of Greater Philadelphia, and the chair of the Philadelphia Holocaust Remembrance Foundation.

Adelman talked with Eagles wide receiver DeSean Jackson after Jackson shared an anti-Semitic statement on Instagram that was misattributed to Adolf Hitler. Adelman and Jackson were able to arrange for Jackson to attend the Horwitz-Wasserman Holocaust Memorial Plaza.

Author and film producer Hallee Adelman, whom he married, is his wife. The Truffle Hunters, US Kids, and Netflix’s The Social Dilemma all feature his wife in an executive capacity. And in October of 2021, she won the Audience Award for Best Documentary Feature at the Woodstock Film Festival for the film she directed and produced titled Our American Family. On September 25, 2021, Business Insider estimated Adelman’s wealth to be $1.6 billion.

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