Steve Rubell was known as the co-founder and co-owner of the world
famous New York nightclub Studio 54. Born and raised in New York,
Rubell and his business partner
Ian Schrager operated a number of
restaurants and offices before deciding to create the ultimate
nightclub. Renting a vacant theater on west 54th Street in Manhattan,
New York, they opened Studio 54 in April 1977. Their goal was to have a
club where anyone could get invited and anything would go within it.
After a unrepresented opening which it made $7 million within the first
year, Studio 54 drew many people and celebrities to its unconventional
parties and gatherings. Drugs, alcohol and sex of all kinds inhabited
the place which made it all the more notorious and controversial.
By the end of 1979, the excess and business of Studio 54 caught up with
Rubell and Schrager when they were arrested by the IRS for income tax
evasion and were sentenced to three years in prison. They both were
paroled after serving 13 months and tried operating Studio 54 but
without success. Selling it, Rubell and Schrager went into the hotel
business where they bought out and operated a number of upscale hotels.
Rubell, a closeted homosexual, was diagnosed HIV positive in 1985, but
incredibly denied his condition and continued his excess lifestyle of
drinking, drugs. Rubell died in 1989. Schrager continues running their
hotel they started.