Manuel Moroun & family

$1.50 B

Ranked #1415 in World

About Manuel Moroun & family

Manuel "Matty" Moroun, an American billionaire businessman who passed away on July 12, 2020, was renowned for his ownership of the Ambassador Bridge, a pivotal privately-owned border crossing linking Detroit, Michigan, to Windsor, Ontario, acquired in 1979. His business empire, CenTra, Inc., encompassed significant logistics and trucking subsidiaries, including Central Transport International and Universal Truckload Services Inc. Moroun, born in 1927 to a Lebanese immigrant family in Detroit, initially aspired to medical studies before taking the helm of his family's trucking venture. His portfolio extended to properties like the Michigan Central Station, sold to Ford in 2018 after years of neglect. Moroun's life was marked by legal battles, including a high-profile lawsuit regarding bridge ramp contracts and a family dispute over CenTra Inc.'s shares, showcasing a complex legacy in the realms of business and infrastructure development within the US-Canada border area.

Born

June 01, 1927 in Detroit, Michigan, U.S.

Died

July 12, 2020 (aged 93)

Source Of Wealth

Transportation

Industries

Logistics

Citizenship

United States

Education

Bachelor of Arts/Science, University of Notre Dame

Spouse

Nora Moroun

Children

1 son

Manuel "Matty" Moroun was born in 1927 in Detroit, Michigan, to a Lebanese family. His father operated two gas stations where Matty worked before and during high school. He graduated from the University of Detroit Jesuit High School and claimed to have served Jimmy Hoffa as a gas station attendant. In 1946, he joined his father's trucking business, Central Cartage Company, and commuted between the University of Notre Dame and Detroit to help run the family business. He earned a bachelor's degree in chemistry and biology in 1949 and aspired to become a doctor but returned to Detroit to work at the family's service station and clean buses. By the mid-1950s, he managed most of the family's trucking business.

Manuel Moroun & family: Family

Matty Moroun married Nora at age 44 and had one child, Matthew, who managed the family business. He resided in Grosse Pointe Shores, Michigan, and his sister Agnes managed human resources at CenTra Inc. However, two other sisters sued him for $53 million in 1992, alleging inheritance cheating, shareholder oppression, and exclusion from the business. The lawsuit was settled in 1999 when Moroun purchased their shares in CenTra Inc. and eventually reconciled with them.

Manuel Moroun & family: Career Highlights

Moroun's career highlights include acquiring the Ambassador Bridge in 1979, which became one of the few privately owned border crossings between the US and Canada. He also controlled CenTra, Inc., including Central Transport International (LTL trucking carrier) and Universal Truckload Services Inc. (holding company for several trucking and logistics companies). Additionally, he formerly owned Roosevelt Warehouse and Michigan Central Station.

Manuel Moroun & family: Companies

Moroun controlled CenTra, Inc., which included Central Transport International, a leading LTL trucking carrier, and Universal Truckload Services Inc., a holding company for several trucking and logistics companies. He also previously owned Roosevelt Warehouse and Michigan Central Station.

Manuel Moroun & family: Major Achievements

Moroun's major achievements include owning the Ambassador Bridge, estimated to be worth between $1.5 and $3 billion, and controlling CenTra, Inc., a successful trucking and logistics company.

He also played a significant role in the transportation industry in Detroit and Michigan.

Manuel Moroun & family: Awards & Achievements

There is no information provided about specific awards or achievements received by Manuel "Matty" Moroun.

Manuel Moroun & family: Personal Life & Legacy

Moroun was known for his private nature and rarely gave interviews. He was married to Nora and had one child, Matthew. He resided in Grosse Pointe Shores, Michigan, and was involved in various philanthropic activities. His legacy includes his contributions to the transportation industry and his ownership of the Ambassador Bridge.

Manuel Moroun & family: Trivia

Moroun was known for his love of classic cars and owned a collection of vintage vehicles. He was also an avid golfer and enjoyed spending time with his family.

Wealth History

Timeline

1927

Manuel "Matty" Moroun is born in Detroit, Michigan, to a Lebanese family.

1946

Moroun joins his father's trucking business, Central Cartage Company.

1949

Moroun earns a bachelor's degree in chemistry and biology from the University of Notre Dame.

1979

Moroun acquires the Ambassador Bridge when shares become available.

1992

Moroun is sued by two sisters for $53 million, alleging inheritance cheating, shareholder oppression, and exclusion from the business.

1995

Moroun acquires Michigan Central Station.

1999

Moroun settles the lawsuit with his sisters by purchasing their shares in CenTra Inc. and eventually reconciling with them.

2009

Moroun is sued by the Michigan Department of Transportation (MDOT) for failing to comply with contract terms for constructing bridge ramps.

2010

Moroun is found in violation of the contract and ordered to comply by Wayne County Circuit Judge Prentis Edwards.

2012

Moroun is jailed for non-compliance but released by the appellate court while the case is heard.

2012

The US and Canadian governments agree to build the Gordie Howe International Bridge, funded by Canada, with toll revenues going to Canada for 50 years.

2018

Moroun sells Michigan Central Station and warehouse to Ford Motor Company.

July 12, 2020

Moroun dies of congestive heart failure at home in Grosse Pointe Shores.

Manuel Moroun & family : FAQs

What is Manuel Moroun's net worth?

As of 2020, Manuel Moroun's net worth was $1.50 billion.

What are Manuel Moroun's main sources of wealth?

Manuel Moroun's main source of income comes from Transportation.

In which industry does Manuel Moroun primarily operate?

Manuel Moroun is primarily involved in the Logistics industry.

What is Manuel Moroun educational background?

Manuel Moroun holds a Bachelor of Arts/Science from the University of Notre Dame.

Is Manuel Moroun dead?

Yes, Manuel Moroun died on July 12, 2020 (aged 93).

How many children does Manuel Moroun have?

Manuel Moroun has 1 children.

Who was Manuel 'Matty' Moroun and what was he known for?

Manuel 'Matty' Moroun was an American billionaire businessman, famously known for owning the Ambassador Bridge, a significant border crossing between Detroit, Michigan, and Windsor, Ontario.

When did Matty Moroun acquire the Ambassador Bridge, and why is it significant?

Matty Moroun purchased the Ambassador Bridge in 1979, marking it as a notable feat because it is one of the few privately owned border crossings between the US and Canada.

What was the estimated worth of the Ambassador Bridge, and what were some of Moroun's other business ventures?

The Ambassador Bridge was estimated to be worth between $1.5 to $3 billion. Moroun also controlled CenTra, Inc., comprising Central Transport International and Universal Truckload Services Inc., among other logistics and trucking companies.

How did Moroun's early life shape his business career?

Born in 1927 in Detroit to a Lebanese family, Matty Moroun worked in his father's gas stations before joining the family trucking business, Central Cartage Company, in 1946. His background and education, including a bachelor's degree in chemistry and biology, paved the way for his later success in the business world.

What controversies surrounded Moroun's ownership of the Ambassador Bridge?

Moroun faced legal challenges, including a lawsuit by the Michigan Department of Transportation for not complying with contract terms related to bridge ramps. He was found in violation of the contract and even jailed briefly for non-compliance. Additionally, his opposition to the construction of the Gordie Howe International Bridge drew criticism, alleging it was motivated by potential lost profits from duty-free gasoline sales.