Mark Shoen Net WorthReal Name: Mark Shoen
Date of Birth: 1/1/1951
Place of Birth: Phoenix, Arizona
2017 Net Worth: $4.6 Billion
Profession: Largest shareholder of U-Haul
Mark Shoen Biography
Mark Shoen was born in Phoenix, Arizona, in 1951. His parents had set up the U-Haul Moving Equipment and Storage Rental Company back in 1945, starting off humbly using their garage and then expanding through franchising gas stations. Shoen graduated from the College of Holy Cross and earned his reputation, and wealth, when he began to work for the family business, expanding it, upgrading the equipment, and modernize operations. U-Haul rents trucks, trailers, and other equipment and many U-Haul centers provide hitch and trailer wiring installation, carpet cleaning machines, and LPG refueling.
Shoen, along with his two brothers, planned and executed a boardroom coup and took over the company in the late 1980’s. This resulted in more than 20 years of infighting among the family and a flurry of lawsuits. The family finally reached an out of court settlement to one of the last disputes in 2012.
Shoen worked for the company for more than 40 years before he retired in 2012. His most productive years were between 1994 and 2007, when he served as the President of U-Haul. Perhaps one of Shoen’s most well-known programs was one he put in place for aiding veterans who needed moving and storage facilities as well as offering free storage and moving for disaster victims. Shoen’s brother, Joe Shoen, still serves as the company’s CEO. The Shoen family still has control of U-Haul’s parent company, AMERCO, which has been estimated to have a market value of more than $4.5 billion. AMERCO also operates Republic Western Insurance, Oxford Life Insurance, and Amerco Real Estate.
Shoen is the largest shareholder in one of the largest private self-storage operations around. He pays U-Haul to manage his 400 self-storage properties across the country. Shoen has an impressive net worth of $4.6 billion.