David J. Adelman
David J. Adelman | |
|---|---|
| Born | March 11, 1972 |
| Nationality | United States |
| Education | Ohio State University |
| Occupation(s) | Businessman Entrepreneur Investor |
| Known for | CEO of Campus Apartments Co-Founder of FS Investments Founder of Darco Capital Co-Founder of cred.ai |
David J. Adelman is an American businessman and entrepreneur. He is the CEO of Campus Apartments and the co-founder and chair of FS Investments.
Early life and education
Adelman was born to a Jewish family and is the grandchild of Sam Wasserman, a Holocaust survivor.[1] He was raised in Penn Valley, Pennsylvania. Starting at the age of 11, the founder of Campus Apartments, Alan Horwitz served as a mentor to Adelman.[2] At age 13, Adelman invested $2,000 of his Bar Mitzvah money with Horwitz and Campus Apartments. Horwitz invested those $2,000 in off-campus student housing near the University of Pennsylvania.[3] At age 17, Adelman purchased his first solely owned investment property.[4] Adelman attended Ohio State University and graduated with a degree in Political Science in 1994. While in college, Adelman worked in the accounting office and as a leasing agent for Campus Apartments.[5] Adelman was accepted into the Temple University Beasley School of Law, but instead opted to become a Property Manager at Campus Apartments.[6]
Career
In 1997, at age 25, Adelman was named the CEO of Campus Apartments after Horwitz became Chairman of Campus Apartments.[7] As CEO of Campus Apartments, Adelman created a partnership between Campus Apartments and the University of Pennsylvania where off-campus apartments would be renovated.[8] As a result, living standards improved and crime-rates dropped in University City.[9] Adelman has worked to expand Campus Apartments outside of the realm of student housing at the University of Pennsylvania. Under his watch, Campus Apartments has built an extended-stay hotel and faculty condos on the University of Pennsylvania's campus and has built apartments at Franklin & Marshall College and Emory University.[10] Adelman's guidance has resulted in Campus Apartments acquiring more than $2 billion in assets.[11] In 2009, Adelman was named the MultiFamily Real Estate Executive of the Year.[12]
In 2007, Adelman co-founded FS Investments, a $24 Billion alternative investment firm, with headquarters in Philadelphia.[13]
In 2013, Adelman, with group of Philadelphia-based investors, led a $30 Million investment into private aviation company Wheels Up, founded by serial entrepreneur Kenny Dichter.[14] Adelman serves as the Lead Director. On December 19, 2019, Delta Air Lines announced it took a stake in Wheels Up to become its largest investor and merged it with its Delta Private Jets subsidiary.[15][16] On January 5, 2021 Wheels Up announced its acquisition of Mountain Aviation, the 10th largest private jet charter operator in the U.S., bringing its total fleet to 350 aircraft.[17]
Adelman is also a Co-Founder of cred.ai, a FinTech company launched in August 2020, that uses AI to establish and improve consumers' credit.[18] Backed by John Legend, Ben Simmons, Tim Armstrong and Michael Rubin, cred.ai has been called the "Tesla of Banking".[19]
In October 2020 Adelman co-led an investment into VIDE Beverages, a ready-to-drink vodka soda brand, with model, actress and entrepreneur Olivia Culpo.[20]
Personal life
Adelman is an active member of the Jewish community. He is the co-founder of Jewish Federation Real Estate, Co-Chair of Jewish Federation of Greater Philadelphia,[21] Chair of the Philadelphia Holocaust Remembrance Foundation and sits on the board of the USC Shoah Foundation.[22][23]
Adelman spoke with Eagles wide receiver, DeSean Jackson after Jackson posted an anti-Semitic quote on Instagram that was falsely attributed to Adolf Hitler. Jackson agreed to visit the Horwitz-Wasserman Holocaust Memorial Plaza with Adelman.[24]
Adelman is married to children's book author and film producer, Hallee Adelman.[25] His wife has been an executive producer on films including The Social Dilemma on Netflix, The Truffle Hunters and US Kids.[26]
References
- ^ "As solemn memorial to Holocaust opens on Parkway, a family and business bond is cemented". The Philadelphia Inquirer. Retrieved July 10, 2020.
- ^ "David Adelman Bumps University Housing Up a Grade". Buildings.com. Retrieved July 10, 2020.
- ^ "The Bar Mitzvah Investment". The New York Times. Retrieved July 10, 2020.
- ^ "Real Estate Mahoffs: A Developing Story". The Jewish Exponent. Retrieved July 10, 2020.
- ^ "David J Adelman: Chairman Franklin Square Capital Partners". Bloomberg News. Retrieved July 10, 2020.
- ^ "Business: Big Man at Campus". Philadelphia Magazine. Retrieved July 10, 2020.
- ^ Adam Stone (August 25, 2008). "He steered Campus Apartments with a bold strategy". Philadelphia Business Journal. Retrieved July 10, 2020.
- ^ "Vacancies on campus? What happens when the last of the Millennials graduate". The Philadelphia Inquirer. Retrieved July 10, 2020.
- ^ "Who owns what: a guide to the landlords around Penn's campus". The Daily Pennsylvanian. Retrieved July 10, 2020.
- ^ "MFE Executive of the Year David Adelman Takes Student Housing to New Heights". Multifamily Executive. Retrieved July 10, 2020.
- ^ "David Adelman on the new world of college dorms". The Philadelphia Inquirer. Retrieved July 10, 2020.
- ^ "MFE Executive of the Year David Adelman Takes Student Housing to New Heights". www.multifamilyexecutive.com. Retrieved January 7, 2021.
- ^ "FS Investments making first acquisition in 12-year history". www.bizjournals.com. Retrieved November 9, 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Wheels Up fleet: 73 Wichita-made planes, only 927 to go". Wichita Eagle. April 22, 2017.
{{cite web}}: CS1 maint: url-status (link) - ^ Bursztynsky, Jessica (December 12, 2019). "Delta partners with Wheels Up, creating one of the world's largest fleets of private aircraft". CNBC. Retrieved November 10, 2020.
- ^ Cameron, Doug (December 12, 2019). "Delta Air Lines Takes Minority Stake in Private-Jet Operator Wheels Up". Wall Street Journal. ISSN 0099-9660. Retrieved November 10, 2020.
- ^ Gollan, Doug. "Wheels Up Continues Acquisition Spree Buying Mountain Aviation". Forbes. Retrieved January 7, 2021.
- ^ Wilson, Mark (August 6, 2020). "This John Legend-backed startup uses AI to improve your credit—for free". Fast Company. Retrieved January 7, 2021.
- ^ Moscufo, Michela. "The 'Tesla Of Banking' Startup Cred.ai Unveils Its AI-Powered Credit Card". Forbes. Retrieved January 7, 2021.
- ^ Dara, Jillian. "Olivia Culpo Enters Ready-To-Drink Cocktail Space With VIDE Beverages". Forbes. Retrieved January 7, 2021.
- ^ Andy Gotlieb (June 17, 2020). "Co-Chairs to Lead Jewish Federation Board". Jewish Exponent. Retrieved November 9, 2020.
- ^ "The Chosen Ones: An Interview with David Adelman". Tablet. Retrieved July 10, 2020.
- ^ "David Adelman". USC Shoah Foundation. Retrieved July 10, 2020.
- ^ "Chairman of Philadelphia Holocaust Remembrance Foundation Speaks on DeSean Jackson Controversy". NBC 10. Retrieved July 10, 2020.
- ^ "Hallee Adelman's adorable new children's book is a reminder that it's okay to get mad". The Philadelphia Citizen. February 28, 2020. Retrieved November 9, 2020.
- ^ "2020 Sundance Docs in Focus: THE SOCIAL DILEMMA". what (not) to doc. January 16, 2020. Retrieved November 9, 2020.