#18 Jack Taylor & family
$14.0 billionSource: Enterprise Rent-A-Car
Left Washington U. to join Navy; served as a fighter pilot on U.S.S. Enterprise during WWII. Became sales manager for St. Louis Cadillac distributor. Took 50% pay cut to start company that provided replacement cars; eventually rented cars to customers with stolen or damaged vehicles. Business took off 1970s when insurance companies were ordered by courts to pay for replacement rentals. Today Enterprise Rent-A-Car revenues exceed $9 billion. Rental car business lagging as automakers sell fleets fewer cars at higher prices. Enterprise skirting industry woes by focusing on insurance replacements; demand remains steady so long as cars break down. Appointed nonrelated exec Pamela M. Nicholson president; son Andrew is chief executive; daughter Jo Ann Taylor (nyse: ANN - news - people ) Kindle runs Enterprise Foundation. Offering hybrid rentals; created Enterprise Rent-A-Car Institute for Renewable Fuels.
Complete List The Richest People In America
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