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.
Dennis Albaugh | |
|---|---|
| Born | Dennis Ray Albaugh 1949 or 1950 (age 73–74)[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 | Susan Albaugh |
| Children | 2 daughters |
Early life edit
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]
Career edit
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]
Car collector edit
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]
Personal life edit
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]
References edit
- ^ a b c d e "The 400 Richest Americans #105 Dennis Albaugh". Forbes. September 17, 2008. Retrieved September 27, 2018.
- ^ a b c "Lorna Albaugh obituary". The Des Moines Register. May 7, 2017. Retrieved December 2, 2018.
- ^ "Executive Profile: Dennis Albaugh". Bloomberg LP. Retrieved September 27, 2018.
- ^ a b "Billionaire Dennis Albaugh trades one Ankeny mansion for another". The Des Moines Register. Retrieved September 27, 2018.
- ^ "From The Dennis Albaugh Collection at Indy 2017". Mecum Auctions. Retrieved September 27, 2018.
- ^ a b c "Iowa's Richest Man Has Farmers to Thank". KHAK. Retrieved September 27, 2018.
- ^ a b c d Hampton, Tudor Van (July 15, 2011). "Chevy Convertibles: He Collected the Full Set". The New York Times. Retrieved September 27, 2018.
- ^ "A Message from Dennis Albaugh". dmacc.edu. Retrieved September 27, 2018.
- ^ "Peek inside a $5.6 million West Des Moines home". The Des Moines Register. Retrieved September 27, 2018.