Danny Rifkin obituary, death, Visionary Founder of MetalX and Scrap Industry Icon, Passes Away at 70: A Legacy of Innovation, Leadership, and Philanthropy in the Metals Recycling Sector
The metals recycling industry is mourning the loss of a true pioneer and leader, Danny Rifkin, who passed away at the age of 70, surrounded by his loving family. As the founder of MetalX, a renowned entrepreneur, business leader, and philanthropist, Rifkin leaves behind a legacy of innovation, growth, and dedication to the scrap metal industry [1].
*Early Life and Education*
Born and raised in Fort Wayne, Indiana, Rifkin was deeply rooted in the scrap industry from a young age. After graduating from Elmhurst High School in 1972, he pursued higher education at the Wharton School of Business at the University of Pennsylvania before earning his degree from the University of Miami in 1977 [1].
*Professional Career and Leadership*
Rifkin’s professional career began at OmniSource Corp., a Fort Wayne-based scrap metal recycling company established by his family in 1943. Over the years, he rose through the ranks, eventually serving as president and CEO. Under his leadership, OmniSource became a powerhouse in the scrap metal industry, expanding its operations and solidifying its reputation [1].
Rifkin also played a pivotal role in the founding of Steel Dynamics Inc. (SDI), a major player in the steel production sector, further demonstrating his influence in the metals industry. In 2007, OmniSource was acquired by SDI, and Rifkin transitioned into an executive role, serving as executive vice president, president, and chief operations officer of SDI’s Metals Recycling Segment while also holding a seat on the company’s board [1].
*MetalX and Innovation in the Scrap Metal Industry*
However, Rifkin’s entrepreneurial spirit led him to embark on a new venture. In 2008, he established North River Capital, a private equity firm based in Fort Wayne. Just a few years later, in 2012, he co-founded MetalX LLC alongside his son, Neal Rifkin. The company quickly gained recognition as an innovative leader in the scrap metal industry, focusing on ferrous and nonferrous recycling [1].
In 2021, MetalX sold its ferrous scrap business to Australia-based BlueScope and shifted its focus to the nonferrous sector. At the time, Rifkin expressed his vision for the company, stating, “We see tremendous opportunity for the future in the nonferrous segment, especially related to copper and aluminum. As the world moves towards more electrification and lighter-weight materials, the demand for copper and aluminum will continue to grow, creating outstanding opportunities for long-term expansion.” [1]
*Pioneering Aluminum Recycling and Innovation*
Continuing its expansion, MetalX acquired the assets of SRT Aluminum, a secondary aluminum melter in Wabash, Indiana, in late 2022. This acquisition positioned the company as a key player in the aluminum recycling market, converting scrap aluminum into remelt scrap ingot (RSI) [1].
In early 2024, MetalX took another significant step by selecting a 190-acre site in Defiance, Ohio, to build a state-of-the-art aluminum recycling campus. The ambitious project, developed in partnership with Manna Capital Partners, included plans for a cutting-edge facility designed to process and recycle aluminum scrap [1].
*Legacy and Impact*
Throughout his career, Danny Rifkin demonstrated a commitment to innovation, leadership, and philanthropy. His legacy extends beyond his professional accomplishments, as he inspired countless individuals in the scrap metal industry and beyond. Rifkin’s passing leaves a void in the industry, but his impact will continue to be felt for generations to come [1].
*References*
[1] MetalX statement and reports from industry sources.
