Jay Bloom Explained

Jay Bloom
Birth Name:Jay Lawrence Bloom
Birth Place:Tachikawa, Air Force Base, Japan
Nationality:American
Education:Rutgers University
Fordham University
Occupation:Financier
Real estate developer
Spouse:Carolyn Farkas
Children:1

Jay Bloom (born 1967/1968)[1] is an American investor, real estate developer, and entrepreneur based in Las Vegas, Nevada.

Early life and education

Bloom was born in Tachikawa, Japan, on a US Air Force base where his father was serving. He was raised Jewish.[2] He has an MBA from Fordham University.[2]

Career

While still in college, he started Magnavest, an investment company that covered call option writing. After graduation, he worked for ten years at Manufacturers Hanover Trust in New York City, becoming an officer working in portfolio risk management and later in real estate risk management.[2]

In 1996, he and his wife also founded a veterinary discount company, Pet Assure.[1] [2] [3] After selling the company, he retired at 33, but became interested in flying helicopters. He earned a private helicopter pilot's license and bought his own helicopter, then bought the flight school and founded a company that offered 3-minute flights from piers on the New Jersey coast.[2] The 9-11 attacks made that business unprofitable; based on an arrangement with Eastman Kodak to sell souvenir photographs to tourists, he then founded Nactor, which sold souvenir photographs at amusement parks, zoos, and other large attractions.[2]

In Las Vegas, Bloom heads a number of real estate investment and development companies. He is chairman of First 100 LLC, which buys and forecloses on home owners association liens.[4] His home is owned by Spanish Heights Acquisition Company, and he is a manager of SJC Ventures, a property management company.[5] He co-founded and is executive chairman of Pegasus Group Holdings, which develops and operates data centers that use renewable energy.[6] He is reportedly a billionaire.

Bloom was managing partner of the Mob Experience, a Mafia-themed attraction that opened in 2011 at the Tropicana casino on the Las Vegas Strip.[7] [8] He left the company later that year amid accusations of diverting funds and misrepresenting company finances. There were also lawsuits over ownership of memorabilia on display. The attraction declared bankruptcy, was purchased, and closed in 2013.[9] Bloom subsequently planned to reimburse investors by opening a chain of temporary International Mob Experience Museums with leased exhibits.[10] Other entertainment ventures have included producing performances at the then Gladys Knight Theater at the Tropicana and a planned Star Wars-themed entertainment and retail center on the Strip.[8] In 2018, he co-founded Police Chase Las Vegas, which offers participation in a simulated police chase at the Las Vegas Motor Speedway, as either a police officer or a fugitive. The company started operations in early 2019.[11]

Since 2020, Bloom has been involved in efforts to bring an NBA team to Las Vegas. Initially interested in purchasing the Minnesota Timberwolves, in 2021 he formed an investor group including motivational speaker Tony Robbins and former NBA player Marcus Banks III with the objective of securing an expansion team.[5] [6] [9] [12]

Personal life

Bloom is married to Carolyn Farkas.[13] In 2022 and 2023, OceanGate CEO Stockton Rush invited him and his son to visit the wreck of the Titanic aboard the company's submersible Titan. Bloom declined, following safety concerns.[14] [15] [16] [17] On that dive, the submarine catastrophically imploded, killing Rush and four others.

Bloom has a twenty-two year-old son.[18] [19]

Notes and References

  1. Susan . Hansen . Discount Club Throws Bone to Pet Owners . Inc. . September 1999 . December 18, 2023 . December 18, 2023 . https://web.archive.org/web/20231218123949/https://www.inc.com/articles/1999/09/13684.html . live .
  2. Nesanel . Gantz . Bloom Family Office . Ami . July 12, 2023 . December 18, 2023 . interview . December 18, 2023 . https://web.archive.org/web/20231218123949/https://www.amimagazine.org/2023/07/12/jay-bloom-bloom-family-office/ . live .
  3. Web site: John . Defterios . Pet health-care biz booms . CNN Money . October 30, 1997 . December 18, 2023 . December 18, 2023 . https://web.archive.org/web/20231218123949/https://money.cnn.com/1997/10/30/personalfinance/yomo_petcosts/ . live .
  4. News: Adam . Candee . Nevada real estate investment firm receives $2.2 billion judgment . Las Vegas Sun . March 29, 2017 . December 18, 2023 . August 20, 2022 . https://web.archive.org/web/20220820202822/https://lasvegassun.com/news/2017/mar/29/nevada-real-estate-investment-firm-receives-22-bil/ . live .
  5. News: David . Ferrara . September 27, 2021 . Las Vegas investor embroiled in litigation as he shoots for NBA expansion . December 12, 2023 . Las Vegas Review-Journal . December 10, 2023 . https://web.archive.org/web/20231210072237/https://www.reviewjournal.com/local/local-las-vegas/las-vegas-investor-embroiled-in-litigation-as-he-shoots-for-nba-expansion-2448631/ . live .
  6. News: Kurt . Helin . June 4, 2021 . Jay Bloom reportedly lined up ownership group to bring NBA expansion to Las Vegas . December 12, 2023 . NBC Sports . December 12, 2023 . https://web.archive.org/web/20231212102521/https://www.nbcsports.com/nba/news/jay-bloom-reportedly-lined-up-ownership-group-to-bring-nba-expansion-to-las-vegas . live .
  7. News: Las Vegas celebrates its mob roots with two gang-buster attractions . The Miami Herald . The Denver Post . May 3, 2016 . July 14, 2011 . December 18, 2023 .
  8. News: Jay Bloom's involvement in The Mob Experience, proposed Star Wars attraction in question . Las Vegas Weekly . Kats Report blog . July 24, 2011 . December 18, 2023 . October 2, 2015 . https://web.archive.org/web/20151002031433/http://lasvegasweekly.com/blogs/kats-report/2011/jul/24/jay-blooms-involvement-mob-experience-proposed-sta/#/0 . live .
  9. News: John . Katsilometes . June 4, 2021 . Las Vegas investor leads group aiming to land NBA team . December 12, 2023 . Las Vegas Review-Journal . December 12, 2023 . https://web.archive.org/web/20231212102520/https://www.reviewjournal.com/sports/basketball/las-vegas-investor-leads-group-aiming-to-land-nba-team-2370689/ . live .
  10. News: Investors in failed Mob Experience: Jay Bloom 'has given us a shot at making our money back' . Vegas Inc. (Las Vegas Sun) . August 20, 2014 . December 18, 2023 . October 11, 2023 . https://web.archive.org/web/20231011222950/https://vegasinc.lasvegassun.com/news/2014/aug/20/investors-failed-mob-experience-jay-bloom-has-give/ . live .
  11. News: Max . Darrow . Experience a police chase in Las Vegas, without breaking the law . News 3 Las Vegas . November 19, 2018 . December 18, 2023 . December 18, 2023 . https://web.archive.org/web/20231218123950/https://news3lv.com/news/local/experience-a-police-chase-in-las-vegas-without-breaking-the-law . live .
  12. News: Horwath . Bryan . June 5, 2021 . Group seeking to bring an NBA team to Las Vegas touts its resources, desire . December 12, 2023 . Las Vegas Sun . December 12, 2023 . https://web.archive.org/web/20231212102520/https://lasvegassun.com/news/2021/jun/05/group-bring-nba-team-las-vegas-resources-desire/ . live .
  13. News: Steve . Green . Civil lawsuit filed over Mob Experience finances . Vegas Inc. (Las Vegas Sun) . August 5, 2011 . December 18, 2023 . December 18, 2023 . https://web.archive.org/web/20231218123949/https://vegasinc.lasvegassun.com/business/2011/aug/05/lawsuits-mob-experience-developer-looted-business-/ . live .
  14. News: June 27, 2023 . Jay Bloom, the millionaire who refused to get on the Titan submersible . December 11, 2023 . Marca . December 11, 2023 . https://web.archive.org/web/20231211200715/https://www.marca.com/en/lifestyle/world-news/2023/06/27/649ad6e146163fe1a38b45d7.html . live .
  15. News: Ax . Joseph . June 23, 2023 . Why U.S. investor Jay Bloom turned down seats on the doomed Titanic submersible . Reuters . December 10, 2023 . December 10, 2023 . https://web.archive.org/web/20231210072237/https://www.reuters.com/world/us/why-us-investor-jay-bloom-turned-down-seats-doomed-titanic-submersible-2023-06-23/ . live .
  16. News: Michael Lee . Simpson . Las Vegas Financier Gave Up 'Titan' Sub Seats That Went to Billionaire and His 19-Year-Old Son . December 10, 2023 . People . June 24, 2023 . https://web.archive.org/web/20230624000412/https://people.com/las-vegas-financier-jay-bloom-gave-up-titan-sub-seats-after-expressing-safety-concerns-7552550 . live .
  17. News: Gabrielle . Chung . June 24, 2023 . Businessman Who Almost Went on OceanGate Titanic Dive Reveals Alleged Texts With CEO on Safety Concerns . December 11, 2023 . E! Online . December 11, 2023 . https://web.archive.org/web/20231211200714/https://www.eonline.com/news/1378148/businessman-who-almost-went-on-oceangate-titanic-dive-reveals-alleged-texts-with-ceo-on-safety-concerns . live .
  18. Web site: 'Titan' Family Tragedy Averted Due to Son's Warnings About Safety of Sub . March 14, 2024 . Peoplemag . en.
  19. Web site: Meet Sean Bloom: A young Las Vegas tycoon. . May 16, 2024 . Las Vegas Review-Journal . en-US.

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