Donald Foss: Donald Foss Net Worth, Biography, Age, Spouse, Children & More

About Donald Foss

Donald A. Foss, a renowned American entrepreneur who fundamentally altered the subprime car finance landscape, passed away on August 14, 2022, at the age of 78. As the visionary founder, chairman, and CEO of Credit Acceptance, Foss amassed a fortune, being valued at around US$2 billion at his death, according to estimates. Born into a family with automotive sales background circa 1944, he spearheaded the inception of Credit Acceptance in 1972, stepping down from his chairman role in January 2017. Forbes noted his net worth at US$1.2 billion in March 2018. Foss, who lived in Farmington Hills, Michigan, leaves behind a legacy of financial innovation, alongside his wife and three children.

Born

June 18, 1944

Died

August 14, 2022 (aged 78)

Source Of Wealth

Auto Loans

Industries

Automotive

Citizenship

United States

Children

Donald A. Foss was born circa 1944 in the United States. His father was a used car salesman, which may have influenced his future career path.

Donald Foss: Family

Foss was married and had three children. He lived in Farmington Hills, Michigan, with his family.

Donald Foss: Career Highlights

Foss founded Credit Acceptance in 1972. The company is a subprime car finance company that provides loans to borrowers with poor credit histories. Foss served as the company's chairman and CEO until January 2017, when he stepped down as chairman. At the time of his death, he was still the company's CEO.

Donald Foss: Companies

Foss founded and led Credit Acceptance, a subprime car finance company. The company is headquartered in Southfield, Michigan, and has operations in the United States, Canada, and the United Kingdom.

Donald Foss: Major Achievements

Foss grew Credit Acceptance from a small startup into a multi-billion dollar company. He was also instrumental in developing the company's unique business model, which allows it to provide loans to borrowers with poor credit histories.

Donald Foss: Awards & Achievements

Foss was recognized for his business acumen and contributions to the automotive industry. He received numerous awards and accolades, including being named the Ernst & Young Entrepreneur of the Year in 1998 and being inducted into the Michigan Business Hall of Fame in 2016.

Donald Foss: Personal Life & Legacy

Foss was known for his philanthropy and support of various charitable organizations. He was also an avid collector of classic cars. Foss passed away on August 14, 2022, at the age of 78.

Donald Foss: Trivia

Foss was a licensed pilot and enjoyed flying his own plane. He was also a fan of the Detroit Tigers and Detroit Red Wings.

Wealth History

Timeline

c. 1944

Donald A. Foss is born.

1972

Foss founds Credit Acceptance, a subprime car finance company.

January 2017

Foss steps down as the chairman of Credit Acceptance.

March 2018

Forbes estimates Foss's net worth at US$1.2 billion.

August 14, 2022

Foss dies at the age of 78.

Donald Foss : FAQs

What is Donald Foss's net worth?

As of 2022, Donald Foss's net worth was $1.70 billion.

What are Donald Foss's main sources of wealth?

Donald Foss's main source of income comes from Auto Loans.

In which industry does Donald Foss primarily operate?

Donald Foss is primarily involved in the Automotive industry.

Is Donald Foss dead?

Yes, Donald Foss died on August 14, 2022 (aged 78).

How many children does Donald Foss have?

Donald Foss has 2 children.

Who was Donald A. Foss and what was he known for?

Donald A. Foss was an American billionaire businessman, best known as the founder, chairman, and CEO of Credit Acceptance, a subprime car finance company.

When did Donald A. Foss found Credit Acceptance, and when did he step down?

Donald A. Foss founded Credit Acceptance in 1972 and stepped down as the company's chairman in January 2017.

How did Donald A. Foss's early life background influence his career?

Donald A. Foss's father was a used car salesman, which influenced him to venture into the car financing industry, eventually leading to the establishment of Credit Acceptance.

Can you provide details about Donald A. Foss's personal life?

Donald A. Foss was married with three children and resided in Farmington Hills, Michigan. He passed away on August 14, 2022, at the age of 78.