Selling Cars Made These Guys Billionaires

Six megadealer CEOs or former CEOs remain on the annual Forbes 400 list of the richest Americans. Leading the auto-dealer entries is James Moran, 88, Deerfield Beach, FL, co-owner and founder of the Southeast Toyota distributorship and owner of the No. 1 Lexus store, JM Lexus, in Margate, FL. He also owns the JM&A finance and insurance company. Moran's net worth is put at $2.4 billion. Runner-up is

Six megadealer CEOs or former CEOs remain on the annual Forbes 400 list of the “richest Americans.”

Leading the auto-dealer entries is James Moran, 88, Deerfield Beach, FL, co-owner and founder of the Southeast Toyota distributorship and owner of the No. 1 Lexus store, JM Lexus, in Margate, FL. He also owns the JM&A finance and insurance company. Moran's net worth is put at $2.4 billion.

Runner-up is Roger Penske, 69, Birmingham, MI, chairman and CEO of UnitedAuto Group, the second-largest megadealer, based in Bloomfield Hills, MI. Penske, who is also involved in several other ventures, has a net worth of $2.2 billion.

The founder of the No. 1 dealership chain, H. Wayne Huizenga, of Fort Lauderdale, FL, is on the list with a net worth of $2.1 billion. Huizenga, 68, no longer actively involved with AutoNation, was inducted into the Auto Hall of Fame last month.

Another megadealer founder on the list is Sonic Automotive's O. Bruton Smith, Charlotte, NC. Smith, 79, owns six race tracks and Speedway Motorsports. He has a net worth of $1.4 billion. Sonic is the third largest dealership chain.

Also listed is B.J. (Red) McCombs, 78, retired as a Texas megadealer. He bought his first dealership at age 25. Today, his net worth is listed at $1.3 billion, and his financial interests now range from radio stations to industrial parks.

The owner of Houston-based Gulf States Toyota, William Friedkin, 71, made the Forbes 400, too. Friedkin.

His net worth is valued at $1.2 billion. He is a former Hollywood stunt pilot and big-game hunter on his Tanzania preserve in Africa.

TAGS: Dealers Retail
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