Moroun drops on Forbes list

The Windsor Star

Ambassador Bridge owner Matty Moroun has dropped slightly on Forbes magazine’s annual list of the 400 richest Americans.

The Grosse Pointe, Mich., transportation mogul was tied for 293rd place with about a dozen others with an estimated wealth of $1.5 billion.

Moroun, 84, dropped slightly from a year ago when he was listed in a tie at 252nd with a $1.6 billion net worth.

A m o n g those he was tied with this year are Gap owner John Fisher and Dan Gilbert, the Michigan-based owner of Quicken Loans and the NBA’s Cleveland Cavaliers.

The secretive Moroun has for decades guarded his financial holdings behind an array of private companies, so his true wealth has been difficult for Forbes and others to determine.

A Star investigation several years ago revealed he owns a wide variety of businesses: insurance companies, logistics firms, railways, air cargo companies, construction firms, about 25 real estate companies and dozens of trucking companies on both sides of the border.

His trucking interests include companies and affiliates across the U.S., Canada and Mexico.

The two wealthiest in Michigan were tied for 60th at $5 billion – Amway owner Richard DeVos and Meijer supermarket chain owner Frederik Meijer.

Other Detroit-area residents on the list were Mike and Marian Ilitch, at 212th place with a $2-billion net worth and William Ford, listed at 375th with a $1.1-billion net worth.

At the top of the list was Microsoft founder Bill Gates at $59 billion, followed by legendary investor Warren Buffett at $39 billion.