Jay Bloom

Bloom was born in Tachikawa, Japan, on a US Air Force base where his father was serving. He was raised Jewish. He has an MBA from Fordham University.^{[3][citation needed]}

While still in college, he started Magnavest, an investment company that covered call option writing. After graduation, he worked for ten years at Manufacturers Hanover Trust in New York City.^{[3][citation needed]}

In 1996, he and his wife also founded a veterinary discount company, Pet Assure.^[1][4]After selling the company, he retired at 33, but became interested in flying helicopters. He earned a private helicopter pilot's license and bought his own helicopter.^{[3][citation needed]}

In Las Vegas, Bloom heads a number of real estate investment and development companies. He is chairman of First 100 LLC, which buys and forecloses on home owners association liens.^[5]He co-founded and is executive chairman of Pegasus Group Holdings, which develops and operates data centers that use renewable energy.^[6][7]

Bloom was managing partner of the Mob Experience, a Mafia-themed attraction that opened in 2011 at the Tropicana casino on the Las Vegas Strip.^[8] In June 2011, Bloom was ousted amid allegations of financial misconduct. Lawsuit alleging fraud were filed by the new management team and half dozen investors, creditors and mob family members. GC-Global alleged he lied about his debts to secure a $3 million loan, then spent the money on himself. The victims were compensated.^{[9][10][11][12][13]}

Mob Experience company had filed for Chapter 11 bankruptcy, 4 months after its opening, listing limited liquid assets and approximately $7 million in debt, alongside liens and fines related to Bloom's property. Court proceedings also raised concerns about incomplete financial records. A receiver was appointed to review the company’s finances, while allegations of mismanagement were disputed and not upheld by the court.^[14][15]

In 2018, he co-founded Police Chase Las Vegas, which offers participation in a simulated police chase at the Las Vegas Motor Speedway.^[16]

In 2021, Jay Bloom announced plans to lead a bid for a National Basketball Association expansion team in Las Vegas, stating he could invest $300 million to $500 million. The proposed NBA expansion bid never materialized, and no team or ownership group emerged.^[17][6][7]

In 2024, a lawsuit was filed alleging that Bloom and his son raised millions for a cryptocurrency mining operation, but used investor money to purchase land for himself and failed to run a legitimate business. Investors initiated arbitration, later confirmed by courts, claiming the Blooms fraudulently induced them to invest $2.5 million. In 2025, The Nevada Court of Appeal affirmed the $2.5 million award to the victims.^[2][18]

Bloom is married to Carolyn Farkas.^[19] In 2022 and 2023, OceanGate CEO Stockton Rush invited him and his son to visit the wreck of the Titanic aboard the company's submersible Titan. Bloom declined, following safety concerns.^[20][21][22] On that dive, the submarine catastrophically imploded, killing Rush and four others. Bloom has a son.^[23]