Rocket Mortgage founder Dan Gilbert turns his $1 billion Detroit redevelopment commitment into a nonprofit pledge; he will take no profits as the $2.2 billion project remakes Renaissance Center and 35-acre riverfront

Billionaire Rocket Mortgage founder Dan Gilbert is directing a massive $1 billion financial pledge toward the redevelopment of Detroit’s iconic Renaissance Center and the surrounding east riverfront through a newly formed nonprofit organisation. As per the official announcement, this philanthropic gift is believed to be the largest contribution to a non-profit redevelopment initiative in the history of American cities.