Today there are more than 180 Meijer stores in 5 states. Frederik took over after father's death 1964. Duo launched Meijer Thrifty Acres in 1962 pioneered "superstore" one-stop shopping.
Opened North Side Grocery 1934 with 14-year-old son Frederik. 89.įather, Hendrik, immigrated from the Netherlands 1900s became barber. Son Andrew is chief executive, daughter Jo Ann Taylor Kindle runs Enterprise Foundation.įrederik Meijer & family $5 bil Meijer Stores. Added Vanguard Automotive (National, Alamo) in 2007. Business took off 1970s when insurance companies were ordered by courts to pay for replacement rentals. Took 50% pay cut to start company that provided replacement cars. Left Washington University to join Navy served as a fighter pilot on U.S.S. Enterprise Rent-A-Car surviving by dealing with insurance claims instead of focusing operations at troublesome airports demand for temporary rentals remains steady so long as people's cars break down.
Rental-car titan's fortune down $7 billion in a year as the auto industry struggles and private company valuations falter. Jack Crawford Taylor & family $7 bil Enterprise Rent-A-Car. Marquee properties: Venetian and Palazzo resorts in Las Vegas, Sands Macau and Venetian Macau in China. Continuing to build $5 billion casino resort in Singapore scheduled to open next year. Forced to suspend construction of several billion-dollar casinos in Macau last November laid off nearly 11,000 construction workers. Personally injected $1 billion of his own cash into the company to help make a debt payment last fall.
Remains optimistic: "Once the markets start believing our company won't go into bankruptcy, our stock will be up to $75 a share again." Shares up 1,000% from March lows now $16 apiece. Cabdriver's son has seen his fortune drop $19 billion in 2 years shares of hisĬasino outfit down 90% from 2007 highs as gamblers stay away from Vegas and Macau. Third generation inherited company when dad died in 1999. Father, Forrest Sr., invented M&Ms, then introduced malt-flavored nougat, the foundation of famous candy bar line that includes Milky Way, Snickers, 3 Musketeers. Grandfather Frank Mars began making chocolates 1911 in his kitchen in Tacoma, Wash. Combined sales now exceed $30 billion much of the deal paid with debt. Created world's largest confectionery company by acquiring gum maker 69.Ĭash-strapped consumers still have appetite for the Mars family's nearly recession-proof products: chocolate (Snickers, M&Ms), pet food (Pedigree).