Michel Daher makes Stonegate top US real estate mortgage firm

Lebanese businessman Michel Daher rang the opening bell of the Stock Exchange on Wall Street for the second time in three years. The real estate mortgage firm Stonegate, in which he is the main investor, had achieved a record launch of two global stock underwriting processes within three years.

Daher had restructured Stonegate and invested in making it one of the top fastest-growing enterprises in the US, according to the ‘Inc.’ magazine. This helped revive the US housing market after the subprime mortgage crisis that began in 2008.

Daher is the only other Lebanese person to ring the Wall Street opening bell after Central Bank Governor Riad Salameh.