Gilbert, 57, was in his home state of Michigan where he was scheduled to speak at the Detroit Regional Chamber's Mackinac Policy Conference on Wednesday, when he was taken to Royal Oak Beaumont Hospital. He is "currently recovering comfortably," according to a statement released by Quicken Loans, which he founded.
"He received immediate medical attention and is currently recovering comfortably," the statement reads. "Our collective thoughts and prayers are with Dan for a speedy recovery. The Gilbert family respectfully requests privacy at this time."
Details regarding his diagnosis and prognosis have not been released.
The Rocket Mortgage Classic, the first PGA Tour event to ever be held in Detroit, is slated to begin on June 25. It is unknown if his medical situation will impact his ability to attend the Rocket Mortgage Classic and/or speak at the Mackinac Policy Conference.
Aside from being the founder of Quicken Loans, Gilbert became majority owner of the Cleveland Cavaliers in March 2005.