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Equinox Downplays Stephen Ross’ Role After Boycott Over Ties With Trump

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By Hadassa Kalatizadeh

Equinox group, the luxury gym franchise, is trying to limit customer defections as a result of part-owner Stephen Ross’ fundraiser for President Donald Trump in the Hamptons on August 9th. Apparently, a large number of members have been fuming and have even cancelled their memberships, threatening to boycott the high end gym company. As reported by Bloomberg News, in a bid to calm the situation, Equinox’s Executive Chairman sent a letter to members and staff downplaying Ross’ role in the company. In the letter, he outlined the ownership structure, belittling Ross’s part in the company and recommitting the chain’s support for charities which promote diversity and inclusivity. “Mr. Ross is not the majority investor in Equinox,” wrote Equinox Executive Chairman Harvey Spevak. “He is one of the investors including myself. He does not run the company. I do.”

Ross, 79, was raised in a Jewish family and has a net worth of 7.7 billion, as of 2019. He made his fortune as the chairman and majority owner of The Related Companies, a global real estate development firm which he founded in 1972. He is also, as of 2008, the owner of the Miami Dolphins and the Hard Rock football Stadium in Miami Gardens. Ross is also a major benefactor of his alma mater, the University of Michigan, to which he has donated $378 million over his lifetime. He holds a stake in both Equinox and SoulCycle, another exercise chain. Both chains are now endeavoring to publicly distance themselves from Ross, following his public support for President Trump.

Spevak wrote in the letter that he himself has led the “vision and strategic direction” of Equinox since 1999. “Our focus has always been about building a community centered on our values, not politics,” Spevak further wrote. The chairman continued by adding that Equinox has a strong history of support for five charities, and that the gym chain was making a new donation to them, for a total of $1 million. The named charities include: Cycle for Survival, an organization that researches rare cancers; the Heroes Project, which trains injured veterans in mountain climbing; Move for Minds, which focuses on brain health and Alzheimer’s research; the Felix Organization, which helps children in foster care; and House Lives Matter, which strives to improve health and wellness, and provide mentorship to the LGBTQ and minority community.

“We will continue to listen to your thoughts and ideas, and while we have a lot of work to do, I am confident that together we will come out a stronger community,” Spevak wrote.

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