Self-Made Billionaire Michael Rubin: E-Commerce Is Rapidly Changing The owner of Rue La La, Fanatics and ShopRunner was bankrupt in his teens. But today, at 41, he is worth almost $3 billion.

By Catherine Clifford

Opinions expressed by Entrepreneur contributors are their own.

Michael Rubin, a Philadelphia native, has been playing hardball in business since he was just a teen. His early days were tumultuous to say the least. By the time he was 16, Rubin was more than $200,000 in debt. But he has more than recovered: At 41, Rubin is worth $2.7 billion.

Today, Rubin is hyper focused on growing his three e-commerce businesses: fashion flash sale site Rue La La, two-day delivery membership program ShopRunner and sports-team gear site Fanatics. He says e-commerce is still a young and rapidly growing industry that stands to be changed as dramatically by mobile as the Internet has changed e-commerce.

Related

Why This Company Wants You to Change Your Underwear

Why Bitcoin's Future Is Bright

Catherine Clifford

Senior Entrepreneurship Writer at CNBC

Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

AI Is Going to 'Replace Everybody' in Several Fields, According to the 'Godfather of AI.' Here's Who He Says Should Be 'Terrified.'

Geoffrey Hinton, called the "Godfather of AI" due to his pioneering work on AI, says some fields face a heavier risk of replacement due to automation.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Franchise 500 Annual Ranking

50 Franchise CMOs Who Are Changing the Game

Get to know the industry's most influential marketing power players.

Business News

Meet Alexandr Wang, the 28-Year-Old Who Went from MIT Dropout to Billionaire Meta Hire: 'I Wanted to Make a Difference'

One of the terms of Meta's $14.3 billion investment in Wang's company, Scale AI, was that he joins Meta in a leadership role.

Business Process

I Was Rejected on Shark Tank — Now I Run a $2.5 Million Business. Here Are 5 Lessons I've Learned the Hard Way

I didn't get a deal on Shark Tank, but that rejection forced me to build a better company. Here's how I turned that loss into $2.5 million in ARR and the lessons you can use to scale smarter.

Business News

Hitting 'Unsubscribe' to Annoying Emails Isn't Safe Anymore. Here's Why.

Hackers are getting creative and targeting a common practice.