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Cavs Owner Dan Gilbert

Cleveland Cavaliers owner and billionaire businessman Dan Gilbert has been released from the hospital after suffering a stroke 3 weeks ago ... his company announced on Thursday.

Gilbert had a stroke while receiving medical treatment at a Michigan hospital on May 26. He underwent a catheter-based procedure and later moved to the Intensive Care Unit for recovery.

According to Jay Farner, CEO of Quicken, Gilbert is doing much better ... and was finally able to leave the hospital on Wednesday.

"The Gilbert family is thankful for the tremendous outpouring of support they have received," Farner says.