Business

J.R. Simplot Net Worth

J.R. Simplot Net Worth is
$3.7 Billion

J.R. Simplot Biography

John Richard Simplot was born on 4 January 1909, in Dubuque, Iowa USA, of English and French descent, and was a businessman and entrepreneur, best known for founding the agricultural supplier company JR Simplot Company in Boise, Idaho, which specialized in potato products. He became one of the richest people in the US at the time, and all of his efforts helped put his net worth to where it was prior to his passing in 2008.

How rich was JR Simplot? As of mid-2017, sources inform us of a net worth that was at $3.7 billion, mostly earned through the success of the JR Simplot Company. At the time of his passing, he was the oldest billionaire on the Forbes 400. All of his achievements ensured the position of his wealth.

J.R. Simplot Net Worth $3.7 billion

Due to differences with his father, JR left school in the eighth grade, and then left home at the age of 14. He worked on a farm, and developed a method for feeding hogs. He then became interested in the vegetable processing business, focusing primarily on potatoes.

Simplot eventually founded the JR Simplot Company, and in World War II the company boomed, becoming the largest shipper of fresh potatoes in the country, and his net worth increased significantly thanks to the company’s success. In 1967, he and McDonalds founder Ray Kroc agreed that Simplot would supply frozen French fries to the fast-food restaurant chain. He was able to supply fries all year long, and by 1972, all fries supplied were frozen. This led to the expansion of Simplot potato processing plants, and a construction of a new plant in Oregon. He retired as president of the company the following year, after his net worth had increased by a staggering amount, but retained the Chairmanship for another 20 years, then held the Chairman Emeritus position until his passing. Around this time, he had supplied more than half of all French fries for McDonalds; he also received awards for his contributions to the agriculture industry.

In 1980, JR also expanded his wealth by providing capital for Micron Technology, and heavily investing in Remington Oil. He had also previously financed the Brundage Mountain ski area, only selling his interest in 2006.

For his personal life, it is known that Simplot was married to Ruby Rosevear and they were married for 29 years, ending in 1960; they had four children – Ruby suddenly left him for another man, apparently because he was spending so much time in his business. He then married Esther Becker – a retired opera singer – in 1972. In 2007, JR had an accident, falling from a motorized scooter and suffering from cranial hematoma. He had to spend his 98th birthday under rehabilitation. In 2008, he suddenly passed away following a bout of pneumonia. He is survived by his wife, two sons and a daughter – his eldest son passed away in 1993.

Quick Facts

Net Worth$3.7 Billion
Date Of BirthJanuary 4, 1909
DiedMay 25, 2008, Boise, Idaho, United States
Place Of BirthDubuque, Iowa, United States
ProfessionBusinessperson, Entrepreneur
NationalityAmerican
SpouseEsther Becker (m. 1972–2008), Ruby Rosevear (m. 1931–1960)
ChildrenGay Simplot, Scott Simplot
ParentsCharles Richard Simplot, Dorothy Ann Haxby Simplot
ImDBhttp://www.imdb.com/name/
Source
Wikipedia
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