Mark Shoen Story
Mark Shoen is an American businessperson who took up his family business and became the Vice-President of the equipment and storage rental company, U-Haul. His father started this company. He is also the largest shareholder in its parent company AMERCO. Mark Shoen is no longer involved full-time in the company U-Haul, but he retains control of the same in the form of shares.
He owns 19% of the company. AMERCO was founded in 1945 by his parents in Leonard Samuel and Anna Mary Shoen. He is presently 64 years of age. Mark Shoen is ranked at number 119 on the Forbes 400 (2015) list. In 2014, his name stood at number 122 on the same list.
Childhood and Early Life
Mark Shoen was born to Leonard Shoen and Anna Mary Shoen, in Phoenix. Shoen married with one child from the marriage. He had to fight his family in order to wrest control of the family business, as he did not agree with the way the company was being run.
Shoen is the largest shareholder in AMERCO, the holding company of U-Haul. The latter is the biggest moving and storage company in North America. As of January 2015, Shoen has a net worth of $1.4 million. The company U-Haul weathered the post-war Baby Boom and came out a winner. However, in the 1970s, it ran into trouble amid the fuel crisis. In 1986, Mark and his brothers Joe and James captured the company from their father, as they did not agree with the way the company was being run.
This sparked off a number of lawsuits and infighting among the 12 children of Leonard Shoen. Beginning in 1990, Mark Shoen served as President of U-Haul for 16 years. On the way to becoming the President, he had to endure a number of social setbacks like the suicide of his father and the murder of his sister-in-law. He had to fight a prolonged court battle in order to wrest control of the company from his family.
The career milestones in the life of Mark Shoen came when in January 2015, he was said to have a net worth of $1.4 million. Another high in his career came when he became the President of the company U-Haul, in 1990. When he wrested control of the company from other members of his family, he reached a new high in his career.
Mark Shoen was born in 1951 to Leonard Shoen and Anna Mary Shoen, in Phoenix, Arizona. Shoen married and bore one child. Mark Shoen did not become the highest shareholder of AMERCO just like that. He had to endure the suicide of his father and the murder of his sister-in-law on the way to being the highest shareholder.
Shoen owned 3.8 million AMERCO shares, which made his value, shoot up to $845 billion. Shoen’s name figured in the list of Bloomberg Billionaires Index. Before this, he had never earned a place in any international wealth rankings. Therefore, this was a great recognition.