#1591
Manuel Moroun & family
Overview
- Source of Wealth
- transportation
- Industry
- Logistics
- Residence
- Education
- University of Notre Dame (Bachelor of Arts/Science)
- Children
- 1
Assets
- Monmouth REIT432,000 shares @ --MNR-US
- PAM Transportation Services3,922,000 shares @ --PTSI-US
- Universal Logistics Holdings19,434,000 shares @ --ULH-US
Biography
Manuel (Matty) Moroun owns Detroit's Ambassador Bridge, the largest border crossing between the U.S. and Canada.
He is CEO of holding company CenTra and other family-held transportation and logistics companies.
Moroun plans to invest $1 billion on a new span and is opposing U.S. and Canadian plans for a competing publicly-owned bridge.
His son Matthew joined the business in 1995.
About
In 1979, Moroun used his small trucking company's credit line to buy out Warren Buffett's 25% stake in the Ambassador Bridge for $30 million.
He wanted to be a doctor but after graduating from Notre Dame in 1949, he went to work at his father's gas station in Detroit.