David J. Adelman

Adelman was born to a Jewish family and is the grandchild of Sam Wasserman, a Holocaust survivor.[1] He was raised in Penn Valley, Pennsylvania. Starting at the age of 11, the founder of Campus Apartments, Alan Horwitz served as a mentor to Adelman.[2] At age 13, Adelman invested $2,000 of his Bar Mitzvah money with Horwitz and Campus Apartments. Horwitz invested those $2,000 in off-campus student housing near the University of Pennsylvania.[3] At age 17, Adelman purchased his first solely owned investment property.[4] Adelman attended Ohio State University and graduated with a degree in Political Science in 1994. While in college, Adelman worked in the accounting office and as a leasing agent for Campus Apartments.[5] Adelman was accepted into the Temple University Beasley School of Law, but instead opted to become a Property Manager at Campus Apartments.[6]

In 1997, at age 25, Adelman was named the CEO of Campus Apartments after Horwitz became Chairman of Campus Apartments.[7] As CEO of Campus Apartments, Adelman created a partnership between Campus Apartments and the University of Pennsylvania where off-campus apartments would be renovated.[8] As a result, living standards improved and crime-rates dropped in University City.[9] Adelman has worked to expand Campus Apartments outside of the realm of student housing at the University of Pennsylvania. Under his watch, Campus Apartments has built an extended-stay hotel and faculty condos on the University of Pennsylvania's campus and has built apartments at Franklin & Marshall College and Emory University.[10] Adelman's guidance has resulted in Campus Apartments acquiring more than $2 billion in assets.[11] In 2009, Adelman was named the MultiFamily Real Estate Executive of the Year.[12]

In 2007, Adelman co-founded FS Investments, a $24 Billion alternative investment firm, with headquarters in Philadelphia.[13]

In 2013, Adelman, with group of Philadelphia-based investors, led a $30 Million investment into private aviation company Wheels Up, founded by serial entrepreneur Kenny Dichter.[14] Adelman serves as the Lead Director. On December 19, 2019, Delta Air Lines announced it took a stake in Wheels Up to become its largest investor and merged it with its Delta Private Jets subsidiary.[15][16] On January 5, 2021 Wheels Up announced its acquisition of Mountain Aviation, the 10th largest private jet charter operator in the U.S., bringing its total fleet to 350 aircraft.[17] On February 1, 2021, Wheels Up announced SPAC-Based IPO Valued At $2.1 Billion.[18] The deal brings Wheels Up together with a SPAC that counts funds associated with luxury conglomerate LVMH and its boss, Bernard Arnault. It is expected to start trading in Q2 2021.

Adelman is also a Co-Founder of cred.ai, a FinTech company launched in August 2020, that uses AI to establish and improve consumers' credit.[19] Backed by John Legend, Ben Simmons, Tim Armstrong and Michael Rubin, cred.ai has been called the "Tesla of Banking".[20]

In October 2020 Adelman co-led an investment into VIDE Beverages, a ready-to-drink vodka soda brand, with model, actress and entrepreneur Olivia Culpo.[21]

On February 18, 2021, Adelman acquired a full ownership stake in American Harvest Vodka and Beach Whiskey as part of a newly formed Darco Spirits Company, under his Darco Capital umbrella.[22]

Business Insider reported Adelman's net worth at $1.6 Billion, as of September 25, 2021.[23]

Adelman is an active member of the Jewish community. He is the co-founder of Jewish Federation Real Estate, Co-Chair of Jewish Federation of Greater Philadelphia,[24] Chair of the Philadelphia Holocaust Remembrance Foundation and sits on the board of the USC Shoah Foundation.[25][26]

Adelman spoke with Eagles wide receiver, DeSean Jackson after Jackson posted an anti-Semitic quote on Instagram that was falsely attributed to Adolf Hitler. Jackson agreed to visit the Horwitz-Wasserman Holocaust Memorial Plaza with Adelman.[27]

Adelman is married to children's book author and film producer, Hallee Adelman.[28] His wife has been an executive producer on films including The Social Dilemma on Netflix, The Truffle Hunters and US Kids.[29] She also recently directed and produced the film, Our American Family, which won The Audience Award for Best Documentary Feature at The Woodstock Film Festival in October 2021.[30]