No money in Trucking?

OntarioVanMan

Retired Expediter
Owner/Operator
Ingram Industries includes Ingram Marine Group, a company with a heritage hailing back to the 1940s that has more than 4,000 barges on U.S. waterways. The other side of the business, Ingram Content Group, is the largest wholesale distributor of books in the world, including print-on-demand and digital books.

A net worth of $2.5 billion earned Donald Schneider, 75, the 159th ranking on the Forbes 400 list of wealthiest Americans and makes him the richest man in trucking. The Green Bay, Wis., resident, now retired from $3.1 billion Schneider National, ranks alongside Standard Oil’s David Rockefeller, 96, on the list.

Ingram and Schneider are followed by several individuals whose wealth, or a portion of it, is tied in some fashion to transportation and distribution.

J. Christopher Reyes, 57, and Jude Reyes, 56, made fortunes in beer and food distribution, eventually buying Chicago Beverage and Martin-Brower. The Reyes brothers both rank 212 on the list with a net worth of $2 billion each.

Grocery distribution entrepreneur Drayton McLane started his career as a truck loader and now has a net worth of $1.75 billion and is ranked 260 on the list.

Frederick Smith, 67, the founder of FedEx, the second-largest U.S. transportation company, ranks 263 on the Forbes 400 with a net worth of $1.7 billion.

Manuel “Matty” Moroun, 84, ranks 293 on the list, with a net worth of $1.5 billion. He owns the Detroit Ambassador Bridge and Central Transport International.

Johnelle Hunt, 79, co-founder of J.B. Hunt Transport Services and widow of Johnnie Bryant Hunt, ranked 312 on the list with a net worth of $1.4 billion.

William "Chip" Connor II, head of global logistics and sourcing business William E. Connor & Associates, ranked 359 with a net worth of $1.2 billion.

Irwin Jacobs, the founder of Qualcomm, which revolutionized trucking technology before turning to cell phones, ranked 372 with a net worth of $1.15 billion.
 

paullud

Veteran Expediter
I love hearing stories like Drayton McLane's, a former loader now a rich guy. All these people that started a business with a dream, I wonder how many thought it would get as big as it did.

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skyraider

Veteran Expediter
US Navy
Ingram Industries includes Ingram Marine Group, a company with a heritage hailing back to the 1940s that has more than 4,000 barges on U.S. waterways. The other side of the business, Ingram Content Group, is the largest wholesale distributor of books in the world, including print-on-demand and digital books.

A net worth of $2.5 billion earned Donald Schneider, 75, the 159th ranking on the Forbes 400 list of wealthiest Americans and makes him the richest man in trucking. The Green Bay, Wis., resident, now retired from $3.1 billion Schneider National, ranks alongside Standard Oil’s David Rockefeller, 96, on the list.

Ingram and Schneider are followed by several individuals whose wealth, or a portion of it, is tied in some fashion to transportation and distribution.

J. Christopher Reyes, 57, and Jude Reyes, 56, made fortunes in beer and food distribution, eventually buying Chicago Beverage and Martin-Brower. The Reyes brothers both rank 212 on the list with a net worth of $2 billion each.

Grocery distribution entrepreneur Drayton McLane started his career as a truck loader and now has a net worth of $1.75 billion and is ranked 260 on the list.

Frederick Smith, 67, the founder of FedEx, the second-largest U.S. transportation company, ranks 263 on the Forbes 400 with a net worth of $1.7 billion.

Manuel “Matty” Moroun, 84, ranks 293 on the list, with a net worth of $1.5 billion. He owns the Detroit Ambassador Bridge and Central Transport International.

Johnelle Hunt, 79, co-founder of J.B. Hunt Transport Services and widow of Johnnie Bryant Hunt, ranked 312 on the list with a net worth of $1.4 billion.

William "Chip" Connor II, head of global logistics and sourcing business William E. Connor & Associates, ranked 359 with a net worth of $1.2 billion.

Irwin Jacobs, the founder of Qualcomm, which revolutionized trucking technology before turning to cell phones, ranked 372 with a net worth of $1.15 billion.

good stuff, u work hard and there u go, success. Let us hope the jealous one does not ruin this post.
 

aristotle

Veteran Expediter
We live in a different business climate today. The cheap fuel prices and easy credit are gone. Government regulation has increased enormously. Hypercompetition has driven rates down, generally. Government intrusion into the private sector has skewed the natural interplay between supply and demand. Advent of the personal computer and the broad instantaneous dissemination of information has removed the cloak of mystery which shrouded the internal workings of private corporations. All this makes success more challenging.

It would be difficult for any transportation company to have a dominant advantage, unless it is already an established player. Building a billion-dollar empire in trucking, today, would probably come through mergers and buyouts. The best profits in trucking come from something other than hauling freight.
 

paullud

Veteran Expediter
It would be difficult for any transportation company to have a dominant advantage, unless it is already an established player. Building a billion-dollar empire in trucking, today, would probably come through mergers and buyouts. The best profits in trucking come from something other than hauling freight.

That could be why Jacobs decided to start the process with E-1.

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OntarioVanMan

Retired Expediter
Owner/Operator
We live in a different business climate today. The cheap fuel prices and easy credit are gone. Government regulation has increased enormously. Hypercompetition has driven rates down, generally. Government intrusion into the private sector has skewed the natural interplay between supply and demand. Advent of the personal computer and the broad instantaneous dissemination of information has removed the cloak of mystery which shrouded the internal workings of private corporations. All this makes success more challenging.

It would be difficult for any transportation company to have a dominant advantage, unless it is already an established player. Building a billion-dollar empire in trucking, today, would probably come through mergers and buyouts. The best profits in trucking come from something other than hauling freight.

All great points....times before businesses were being regulated to death....EPA, FMSCA and the likes..
 

tbubster

Seasoned Expediter
in 1989 a kid by the name of brian scudamore was in a drive threw the truck in front of him gave him an idea.In no way was this a new idea a great many had done this befor.How ever he came up with a plan to do it different.He bought a used pickup truck for less the 1000 dollars.A couple of years later he was so busy he droped out of collage in order to go at it full time.Tody his company does close to 150 million dollars a year and hes has taken it to a international level.His company 1-800-got-junk:)

At just 14 years old sean belnick locked himself in his room three days later he had a plan.He started his company with just 600 dollars.Six years later at the age of 20 his company had 38 million dollars in sales.Bizchair.com

A couple more.Abbey fleck,Farrah gray,Fraser doherty all self made millionaires by the time they were 21.They had an idea.Put in the hard work and ran with it.Even with all the regulations and laws anyone can do it if they really belive in themselfs and are willing to put in the hard work.:)
 

Moot

Veteran Expediter
Owner/Operator
Building a billion-dollar empire in trucking, today, would probably come through mergers and buyouts.

Prior to the Motor Carrier Act of 1980 that was the only way to build a large trucking company.
 

x06col

Veteran Expediter
Charter Member
Retired Expediter
US Army
We live in a different business climate today. The cheap fuel prices and easy credit are gone. Government regulation has increased enormously. Hypercompetition has driven rates down, generally. Government intrusion into the private sector has skewed the natural interplay between supply and demand. Advent of the personal computer and the broad instantaneous dissemination of information has removed the cloak of mystery which shrouded the internal workings of private corporations. All this makes success more challenging.

It would be difficult for any transportation company to have a dominant advantage, unless it is already an established player. Building a billion-dollar empire in trucking, today, would probably come through mergers and buyouts. The best profits in trucking come from something other than hauling freight.

I don't agree....you just have to be more adaptable, nimbler, dedicated and energetic than the rest of the pack, and you will rise above.
 

clcooper

Expert Expediter
I love hearing stories like Drayton McLane's, a former loader now a rich guy. All these people that started a business with a dream, I wonder how many thought it would get as big as it did.

Posted with my Droid EO Forum App

he even swept the floors too . now go find out rest of the story . Drayton McLane, Sr., owned a wholesale grocery distribution center. At age nine, the young McLane went to work for his father's business that had been established by his grandfather.
 
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