#1140
E. Joe Shoen
United States 76 years old
Overview
- Source of Wealth
- U-Haul
- Industry
- Automotive
- Residence
- Phoenix, Arizona
- Education
- College of the Holy Cross (Bachelor of Arts/Science)Harvard Business School (Master of Business Administration)
- Marital Status
- Married
Assets
- Amerco4,909,000 shares @ --UHAL-US
- U-Haul Holding Company (UHAL-B)37,701,044 shares @ --UHAL.B-US
Biography
Joe Shoen is the president and chairman of U-Haul's parent company Amerco. He owns around 20%.
His parents, L.S. and Anna Mary Shoen, cofounded the truck and trailer rental company in 1945.
Worried that his father was wrecking the company, Joe led a coup in 1986, forcing his dad into retirement and alienating most of his 12 siblings.
Brother Mark Shoen, also a billionaire, reportedly remains on good terms with Joe.
Despite his problems working with his own dad, Joe's son Sam is an executive at Amerco.
About
Shoen wrote his thesis at Harvard Business School on the self-storage business.
Shoen is known for his frugality, insisting employees stay in cheap motels, two to a room.