Stephen Ross Invests in David Chang’s Momofuku Group
The Momofuku Group, which has renowned restaurants all over the world, has added a new investor to its family: Related Companies chairman Stephen M. Ross.
Chang will still oversee Momofuku, but this capital increases the potential for the company’s expansion.
“The end goal was always to find a partner who would help support our businesses and allow us to continue to grow, and we think that is Steve and the RSE team,” Chang told the Post. “It’s something we’re very excited about.”
Although the stake size was not disclosed, Ross’ net worth is $7.4 billion, according to Forbes.
Ross told the post that RSE’s investment would help the company grow strategically.
“David is one of our most important young chefs and is truly shaping the future of food and the way we will eat for generations to come,” Ross told the Post. “He has built a strong brand.”