Early Life
Steven M. Rales was born on March 31, 1951, in Bethesda, Maryland, into a Jewish family. He is one of four sons of Norman and Ruth Rales. His father was a businessman and philanthropist who established the first employee stock ownership plan in U.S. history.
Rise to Success
Rales co-founded Equity Group Holdings with his brother Mitchell Rales in 1979. They later transformed it into Danaher Corporation in 1984, where Steven has served as Chairman of the Board. Under his leadership, Danaher has grown into a global leader in manufacturing and technology. In addition to his business ventures, Rales founded the film production company Indian Paintbrush in 2006, which has produced several critically acclaimed films.
Key Business Strategies
Rales has a history of strategic acquisitions and a focus on operational efficiency. He is known for the Danaher Business System, which has become a benchmark for operational excellence. Danaher's successful pivot into healthcare and life sciences, through acquisitions of companies like Beckman Coulter, Cepheid, and Pall Corporation, has positioned the company as a leader in diagnostics and biopharmaceuticals.
Philanthropy
Rales is involved in philanthropy, with significant contributions to education, healthcare, and the arts. He made a major donation to the Peeler Art Center at DePauw University in 2002.