Dennis Albaugh | |
---|---|
Born | Dennis Ray Albaugh 1949/1950(age 71–72) [1] Marco Island, Florida, US |
Education | Des Moines Area Community College Ankeny High School |
Occupation | Businessman |
Known for | Chairman, and founder of Albaugh LLC |
Spouse(s) | Susan Albaugh |
Children | 2 daughters |
Dennis Ray Albaugh (born 1949 or 1950) is an American billionaire businessman, and the founder and chairman of Albaugh LLC, a pesticide and fertilizer company. He is a car collector, especially Chevrolets, and owns one of the biggest collections of Chevy convertibles in the US.
Albaugh is the son of Dean Floyd Albaugh and Lorna Lee Albaugh (née Markert, 1929–2017). [2] His parents farmed near Rockwell City and Somers, Iowa, and later moved to rural Elkhart and Ankeny. [2] He is the second of four children: Mickey, Dennis, Sheryl, and Roland. [2]
Albaugh was born in Marco Island, Florida, and was educated at Des Moines Area Community College. [1]
Albaugh started in business in 1979, selling fertilizer and seeds. After Monsanto's patent ran out on glyphosate in 2001, the chemical used in their best-selling herbicide Roundup, Albaugh began to sell a generic version of the product and bought a factory in Argentina to make it at a competitive price, allowing him to expand the business worldwide. [1] [3]
In 2008, his net worth was estimated by Forbes at US$3.5 billion. [1]
Albaugh LLC is based in Ankeny, as is Albaugh's collection of 150 classic cars, especially Chevrolet convertibles. [4] [5] [6] Albaugh started the collection with the purchase in 1998 of a 1957 Chevy Bel Air convertible from a golfing friend and told his wife he would stop when he completed the Tri-Five Chevrolets, the 1955, 1956 and 1957 models. [7] His collection of about 150 vehicles, mostly convertibles, includes the Tri-Five Chevrolets as well as Chevy models from 1912 to 1975 and is housed in a 28,000-square-foot (2,600 m2) garage in Ankeny. [7] Albaugh is known to do mechanical work on some of the cars in his collection as time allows. When younger, his father had refused to let him buy a convertible, feeling they were not safe enough. [7] According to Murl Randall, a Chevrolet historian and collector, the collection is "probably the best assemblage of convertible Chevys in the country." [7]
Albaugh is married to Susan. They have two daughters and live in Ankeny, a suburb of Des Moines, Iowa. [1] [6] [8] In August 2018, he sold his 10,000-square-foot (930 m2) house in Ankeny to Todd Rueter, an Elkhart businessman, for $2.32 million, having built a slightly smaller 8,773-square-foot (815.0 m2) home nearby. [4]
He owns a private 19-hole golf course, Talons of Tuscany, in Ankeny. [6] [9]
Des Moines is the capital and the most populous city in the U.S. state of Iowa. It is also the county seat of Polk County. A small part of the city extends into Warren County. It was incorporated on September 22, 1851, as Fort Des Moines, which was shortened to "Des Moines" in 1857. It is located on, and named after, the Des Moines River, which likely was adapted from the early French name, Rivière des Moines, meaning "River of the Monks". The city's population was 214,133 as of the 2020 census. The six-county metropolitan area is ranked 83rd in terms of population in the United States with 699,292 residents according to the 2019 estimate by the United States Census Bureau, and is the largest metropolitan area fully located within the state. A portion of the larger Omaha, Nebraska, metropolitan area extends into three counties of southwest Iowa.
Chevrolet, colloquially referred to as Chevy and formally the Chevrolet Division of General Motors Company, is an American automobile division of the American manufacturer General Motors (GM). Louis Chevrolet and ousted General Motors founder William C. Durant started the company on November 3, 1911 as the Chevrolet Motor Car Company. Durant used the Chevrolet Motor Car Company to acquire a controlling stake in General Motors with a reverse merger occurring on May 2, 1918, and propelled himself back to the GM presidency. After Durant's second ousting in 1919, Alfred Sloan, with his maxim "a car for every purse and purpose", would pick the Chevrolet brand to become the volume leader in the General Motors family, selling mainstream vehicles to compete with Henry Ford's Model T in 1919 and overtaking Ford as the best-selling car in the United States by 1929 with the Chevrolet International.
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