King of the road
Gene Friedman, one of the city’s most powerful and wealthy executives, is hardly a household name.
But the 39-year-old chief executive of Taxi Club Management owns one of the largest collections of city taxi medallions, industry sources say, with roughly 700 to his name.
And with the price of a corporate medallion hovering at $775,000 — according to the average sale price in December, the latest figures available — the value of Friedman’s taxi portfolio is roughly $542.5 million.
His fleet comprises about 5.3 percent of the city’s 13,237 medallions.
In 2006, Friedman made news when he successfully bid $25.8 million to win all 54 of the city’s new wheelchair-accessible medallions for sale. While a steep price at the time, they have grown in value by 62 percent in just under four years.
Friedman did not return calls for comment.
In 2008, the lawyer told Crain’s New York Business that he took over his father’s 60-medallion fleet in 1996 and grew revenues from $2.5 million then to $120 million now — by gobbling up hundreds of medallions.
Along the way, Friedman has expanded beyond taxis, buying 16 buildings in the city.

