Michael Schostak is an accomplished finance professional and university educator seeking elective office for the first time.
EDUCATION AND EARLY CAREER
Having grown up in Southfield and Beverly Hills, Michael is an honors graduate from Cranbrook-Kingswood. Michael then earned a bachelor’s degree in Economics from The Wharton School of the University of Pennsylvania with concentrations in finance, management, and real estate. During his time at Wharton, Michael co-founded a student mutual fund and later an internet startup company that he was able to raise almost $1 million in venture capital for.
After graduating from Wharton, Michael joined a highly respected management consulting firm and spent two years in Washington, D.C. as a civilian contractor performing financial analysis for the U.S. Department of Defense. He was granted a Top Secret security clearance (and no, he did not have his own e-mail server!)
Michael returned to Michigan to earn his MBA from the Ross School of Business at the University of Michigan-Ann Arbor in 2005.
Newly credentialed and highly motivated, Michael joined a major Wall Street investment bank in New York. With fortuitous timing, before the market crash in 2007, Michael and his new wife, Alexis, decided that the city of New York was not the place to raise a family and Michael convinced Alexis (a native Philadelphian) to move to Michigan– specifically Bloomfield Township.
Michael and Alexis chose Bloomfield Township because of the combination of reasonably priced, yet high-quality homes; an extremely low crime rate; top-notch schools; fair taxes; excellent local government services and the township’s central location to our regional amenities. Nine years later, Michael still believes that all of these criteria make Bloomfield Township the region’s best community.
Since moving back home, Michael has worked in several companies, including a large publicly traded, renewable-energy company, and a casual fast-food operator/franchise company. He also has co-founded several businesses, including his current consulting practice, in which Michael works with companies of various sizes (from startup to emerging growth) and across industries. Among his consulting areas of expertise are corporate finance and business strategy.
ACADEMIC APPOINTMENT AND COMMUNITY INVOLVEMENT
In 2015, Michael was invited to join the faculty in the Finance Department of the Wayne State University — Mike Ilitch School of Business — to design and teach a course in Applied Financial Analysis. He has quickly become one of the highest-rated adjunct faculty members at the school by the students he teaches.
Michael is a member of the Regional Advisory Board for the Anti-Defamation League (ADL), the international civil rights advocacy and education non-profit organization. Michael also serves on the Finance Committee of the Hillel Day School of Metropolitan Detroit, his alma mater and his children’s school. Finally, he is an executive board member of the Penn & Wharton Alumni Club of Michigan, and Michael and Alexis are co-chairs of the Alumni Interview Committee for southeast Michigan for the University of Pennsylvania (Penn).
Michael and his family have deep roots in the community; a legacy begun when his paternal grandfather moved to Detroit in the early 1920s. Today, Michael and his wife, Alexis — a corporate attorney — live in Bloomfield Township and are the proud parents of two children, Hayley (age 5) and Benjamin (age 1).