Wealthiest Americans in the Automotive Industry

Wealthiest American in the Automotive Industry. The Richest Car Guys in America 2018. There are big giants in the automotive business! Yes, we’re speaking about cash. According to Forbes magazine, there are seven billionaires in the USA made nearly all of their cash in the auto business. Elon Musk leading in the auto industry with $19.8 billion followed by Shahid Khan, s Pakistani American.

1. Elon Musk

  • Total Worth: $19.9B
  • Age: 47
  • Source: Tesla Motors

Elon Musk is working to revolutionize transport both on Earth and in space. His automaker, Tesla Motors, that was set in 2003, is attracting fully-electric vehicles into the mass marketplace. He settled with the SEC at September 2018 for creating alleged”false statements” about a plan to shoot Tesla personal and needed to resign as chairman. SpaceX, Musk’s rocket firm, is currently valued at greater than $20 billion. He landed at the US as a transfer student in the University of Pennsylvania.

2. Shahid Khan

  • Total Worth: $7B
  • Age: 68
  • Source: auto parts, Self Made

An engineer by trade, Shahid Khan purchased auto parts provider Flex-N-Gate from his former employer in 1980. His layout for a one time truck was the foundation for his achievement; the business today has 64 plants worldwide and above 24,000 workers. Khan also owns the NFL’s Jacksonville Jaguars, which he purchased in 2012, and UK’s Fulham football team, which he purchased in 2013. Khan’s 300-foot superyacht Kismet, that took 6 years to construct, was delivered in the end of 2014. He’s given over $25 million to his alma mater, the University of Illinois.

3 Ernest Garcia, II.

  • Total Worth: $4.1B
  • Age: 61
  • Source: used cars, Self Made

Ernest Garcia is the largest shareholder of Carvana, an internet platform for selling cars and making automobile loans which ran an IPO in 2017. Garcia also runs and owns DriveTime Automotive, the country’s fourth-biggest used vehicle retailer. Carvana was set by Garcia’s son, Ernest Garcia, III, as a subsidiary of DriveTime Automotive and was later summoned out. Carvana has been among the country’s top-performing stocks in 2018.

See also: Top 10 Youngest American Billionaires 2018

4. Dan Friedkin

  • Total Worth: $3.7B
  • Age: 53
  • Source: Toyota dealerships

Dan Friedkin Possesses Gulf States Toyota, That Offered $9 billion worth of Toyotas at 2017. The organization, located in Houston, has exclusive rights to distribute Toyota vehicles in Texas, Arkansas, Louisiana, Mississippi and Oklahoma. His dad Thomas, who began the company in 1969, died in March 2017. Friedkin is also an investor in luxury hospitality management company Auberge Resorts, which includes properties in Aspen and Cabo San Lucas. He owns a movie production studio which produced the 2017 film”All The Money In The World.”

5. Mark Shoen

  • Total Worth: $3.1B
  • Age: 67
  • Source: U-Haul

Mark Shoen Possesses Approximately one-fifth of U-Haul parent Firm Amerco via a limited partnership Named Willow Grove. Heis also the proprietor of one of the biggest private self-storage operations at the U.S., which does business with U-Haul. Mark sided with his brother Joe at a horrible family feud where Joe wrested control of U-Haul from their dad. He keeps a very low profile but apparently stays on good terms with his brother Joe, who runs the U-Haul company.

See also: Top 25 Most Powerful People in America

6. E. Joe Shoen

  • Total Worth: $2.6B
  • Age: 68
  • Source: U-Haul

Joe Shoen is the president and chairman of U-Haul’s $3.6 billion () parent firm Amerco, where he’s a 21% stake. His parents L.S. and Anna Mary Shoen cofounded the truck and trailer leasing firm back in 1945. Asserted that his dad was wrecking the business, Joe headed a coup in 1986, forcing his father retired and alienating the majority of his 12 siblings. Regardless of his troubles working together with his own daddy, Joe’s sons Stuart and Sam are both executives in Amerco. Shoen is popularly famous for his frugality, insisting employees remain in cheap motels, two to one room.

7. Norman Braman

  • Total Worth: $2.3B
  • Age: 86
  • Source: art, car dealerships, Self Made

Norman Braman Possesses one of Florida’s largest Auto dealerships, Braman Motorcars, Together with six Places and over $2 billion in Yearly Earnings. Braman produced his initial fortune retailing drugs and vitamins, but today sells BMWs, Porsches, Rolls-Royces, Hondas, and Hyundais in Florida and Colorado. Born in Philadelphia to immigrant parents, Braman was a waterboy for the Eagles, which he purchased in 1985 and marketed in 1994 to get a $120 million gain. An avid art collector, he helped deliver the esteemed Swiss art fair, Art Basel, to Miami in 2002. He and his wife financed the building of Miami’s Institute for Contemporary Art, a free museum that opened in 2017.

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