#1602
William Young
Overview
- Source of Wealth
- Plastics
- Industry
- Manufacturing
- Residence
- Ypsilanti, Michigan
- Education
- University of Detroit Mercy (Bachelor of Science in Engineering)
- Marital Status
- Married
- Children
- 4
Biography
William Young is CEO of plastic container maker Plastipak, which does some $3.7 billion in annual sales.
Young and his father founded Plastipak in 1967, shortly after he graduated from the University of Detroit Mercy with an engineering degree
After six years of running the business, the duo sold the majority to Beatrice Foods for an undisclosed amount.
In 1982, the family bought back Plastipak. Three decades later, they sold a minority stake to a division of Goldman Sachs. They bought out Goldman by 2020.
About
Plastipak holds over 500 U.S. patents for package design and manufacturing processes.
Plastipak manufactures plastic packaging for companies such as Procter & Gamble, Pepsi and Kraft Foods.