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What was H. Wayne Huizenga’s Net Worth?
H. Wayne Huizenga was an American businessman, entrepreneur, {and professional} sports activities group proprietor who had a net worth of $2.8 billion on the time of his dying in 2018. H. Wayne Huizenga was a uncommon entrepreneur who earned billions of {dollars} by launching not one, not two BUT THREE companies that went on to become Fortune 500 enterprises. Starting with a single rubbish truck in 1968, he grew Waste Management, Inc. right into a Fortune 500 firm. By the time he took the corporate public in 1972, he had accomplished the acquisition of 133 small-time rubbish corporations. By 1983, Waste Management was the largest waste disposal company within the United States. Huizenga repeated this success with Blockbuster Video, rising it from a handful of shops in 1987 into the United States’ main film rental chain by 1994. Along the way in which he additionally began and bought a collection of auto dealerships. In 1996 he shaped AutoNation, which grew into the nation’s largest automotive supplier and a Fortune 500 firm. Wayne Huizenga was additionally the previous proprietor of the NFL’s Miami Dolphins, the NHL’s Florida Panthers, and MLB’s Miami Marlins skilled sports activities groups. H Wayne Huizenga died on March 23, 2018 on the age of 80.
Early Life
Harry Wayne Huizenga was born on December 29, 1937 in Evergreen Park, Illinois. His grandfather moved to the United States from the Netherlands. His father, Gerrit, labored as a cupboard maker, whereas his mom, Jean, labored as a house decorator. He was raised in a Dutch group in Chicago and the family have been strict Dutch Reformed Christians. He grew up together with his youthful sister, Bonnie, and attended Chicago Christian High School till his sophomore 12 months when the family moved to Fort Lauderdale, Florida. He then attended Pine Crest School the place he performed on the soccer group and served because the senior class treasurer. He graduated in 1956 after which moved again to Chicago and enrolled at Calvin College. After three semesters, he determined to drop out of faculty and spent the following few years working quite a lot of low-wage jobs.
Waste Management
By 1962, Huizenga had moved again to Fort Lauderdale and began a rubbish hauling enterprise known as the Southern Sanitation Service. Over the following decade, Huizenga grew the enterprise into an enormous success, finally renaming it Waste Management Inc. He grew the corporate by buying different smaller trash haulers. By the Nineteen Eighties, he had grown Waste Management into one of many largest waste-disposal corporations within the United States. He left the corporate in 1984.
H. Wayne Huizenga (by way of Getty)
Blockbuster and AutoNation
Over the following a long time, Huizenga would repeat the method of shopping for and rising corporations quite a few instances. In 1987, he acquired a number of Blockbuster Video shops. In lower than a decade, the corporate grew to become the main movie-rental chain within the United States. Similarly, he started buying auto dealerships and shaped them into the corporate AutoNation in 1996. The firm grew to become the nation’s largest automotive supplier.
Hotels and Sports
He additionally grew to become concerned within the lodge and resort enterprise. By the 2000s, he owned plenty of lodge teams. In 2004, he offered Boca Resorts, which included plenty of well-liked luxurious lodges in Florida and Arizona, to the personal fairness agency Blackstone in a $1.25 billion deal. In 2010, he grew to become a majority stakeholder in Swisher Hygiene after paying over $8 million to Swisher founder, Patrick Swisher and his spouse Laura.
Huizenga additionally was very focused on skilled athletics and both owned or co-owned plenty of groups over time. He launched each baseball and ice hockey to the South Florida space. He was the creator and preliminary proprietor of the Florida Marlins and the Florida Panthers. He additionally purchased the cable tv channel, SportsChannel Florida, so as to guarantee his groups’ video games have been aired.
Al Messerschmidt/Getty Images
In 1990. He bought 15% of the NFL group, the Miami Dolphins, in addition to the stadium during which they performed. He purchased the remaining shares of the group over the following full years and was the total proprietor by 1994. In 2008, he offered 50% of the group and 50% of the stadium to Stephen M. Ross. He remained the managing basic companion of the franchise till 2009 when he offered a further 45% of the group and the stadium to Ross.
Throughout the mid-Nineteen Nineties, Huizenga poured cash into the Florida Marlins so as to make them extra profitable. In 1996, he spent over $89 million on free brokers. The transfer paid off because the group made the playoffs for the primary time in its historical past and went on to win the World Series in 1997. He offered the group the next 12 months to commodities dealer John Henry, although he stored the possession rights to the stadium.
In 2001, he offered the Florida Panthers to Alan Cohen, a pharmaceutical businessman, for round $100 million. From the time he had initially invested within the Panthers, the group’s worth had almost tripled to a complete worth of over $150 million.
Philanthropy and Awards
In addition to his enterprise dealings, Huizenga was concerned in philanthropy. He funded the H. Wayne Huizenga School of Business and Entrepreneurship on the Nova Southern University in Florida. He additionally donated considerably to the Pine Crest School, a non-public preparatory college.
Over the course of his profession, Huizenga acquired quite a few awards and accolades. In 1991, he acquired the Golden Plate Award of the American Academy of Achievement. In 1992, he was named a Distinguished American by the Horatio Alger Association to acknowledge the numerous scholarships he had funded all through the state of Florida. In 2005, he was named the Ernst & Young World Entrepreneur of the Year. In 2008, he was a recipient of the Norman Vincent Peale Award to acknowledge the donations he had made to the Horatio Alger Association.
Personal Life
In 1960, Huizenga married his first spouse, Joyce, whom he had met whereas in highschool. They had two youngsters collectively, Wayne Jr. and Scott, earlier than divorcing in 1966. In 1972, he married his second spouse, Martha. She had labored as a secretary and had achieved some clerical work for one in every of his companies. After marrying, Huizenga adopted Martha’s youngsters, Robert Ray and Pamela. They remained married till Martha’s dying in January of 2017 following her fourteen-year battle with most cancers.
In March of 2018, Huizenga died of most cancers at his house in Fort Lauderdale, Florida on the age of 80.
All web worths are calculated utilizing information drawn from public sources. When offered, we additionally incorporate personal suggestions and suggestions acquired from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as potential, except in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button beneath.
