Jack Taylor Net Worth, Biography and Career

Jack Taylor Net Worth $12.8 Billion

Jack Taylor was an American billionaire businessman and entrepreneur who founded the Enterprise Rent-A-Car Company. He was also a fighter pilot for the US Navy during the Second World War. His company, Enterprise, was modeled by its car and truck rentals.

Today, it provides jobs for more than 91,000 people in over 9,000 locations around the world. The company reported a revenue of $19.4 billion in 2015, more than double that of its two biggest rivals Avis and Hertz, and in the past six years, it has expanded across South America, Asia, and Europe.

Here are all the details concerning the life and achievements of the entrepreneur Jack Taylor who passed away on July 2 2016 at the age of 94.

Early Life: Childhood, Education

He was born Jack Crawford Taylor in St. Louis, Missouri, United States, on April 14, 1922, as the elder of the two sons of Melbourne Martling Taylor and Dorothy Crawford Taylor.

In 1940, he enrolled in Washington University’s Olin Business School in St. Louis. He left school to join the United States Navy and piloted an F6F Hellcat fighter from the decks of the USS Enterprise (CV-6) and the USS Essex (CV-9) during the Second World War, earning a Navy Air Medal and two Distinguished Flying Crosses.

Professional Life: Business Career

After the war ended, Jack Taylor returned to St. Louis and started a small delivery service company. In 1948, he joined the Lindburg Cadillac dealership in a small role and eventually became a sales manager.

In 1957, in partnership with his employer, Arthur R. Lindburg, he started a car leasing business at the dealership, taking a 50 percent pay cut and invested $25,000 for a 25 percent interest in the business. From here, the Executive Leasing Company opened with just 7 cars targeting people whose automobiles were in the dealership.

In 1969, he expanded his growing business outside St. Louis and renamed the company Enterprise. Unlike his competitors who mainly focused on business rentals at airports, this intelligent businessman concentrated on the hometown market providing customers with home pickup services which led to more patronage and eventually the company’s “We’ll Pick You Up” slogan.

By 1980, the rental fleet had over 6,000 cars. In 1989, the fleet had grown to 50,000 and the company was renamed Enterprise Rent-A-Car. By 1992, the company surpassed $1 billion in revenues and within four years, it reached $2 billion in revenues. In 2007, Enterprise acquired Alamo Rent-A-Car and National Car Rental. His son, Andrew C. Taylor, is the current chief executive of the company.

Philanthropy

Outside his business life, Mr. Taylor probably spent more time in philanthropy than in anything else. He was known for his charitable deeds which included helping individuals and institutions through financial contributions.

Some of his most noted philanthropic endeavors include a $30 million gift to the Missouri Botanical Garden, a $40 million challenge gift to the St. Louis Symphony Orchestra, a $25 million to introduce the Enterprise Rent-A-Car Scholars Program at Washington University to support scholarships for minority and fiscally disadvantaged students, and $1 million gift to Ranken Technical College in St. Louis.

He also donated $22 million to 10 charitable and educational organizations focused on underserved children in the St. Louis area, and $92.5 million to 13 cultural institutions and charities in the St. Louis area and outside.

Achievements: Awards & Honors

Jack Taylor earned a Navy Air Medal and two Distinguished Flying Crosses at the end of his service in the United States Navy.

The Jack C. Taylor Conference Center at the United States Naval Institute in Annapolis is named in recognition of Mr. Taylor’s career as a United States Navy fighter pilot as well as his works as a philanthropist, entrepreneur, and business leader.

Personal Life: Wife, Children, Private Interests

The businessman was married and divorced twice in his lifetime. In 1945, he tied the knot with Mary Ann MacCarthy, and they had two children Andrew and Jo Ann. After a long separation, Taylor and his first wife divorced in 1977. He married Susan Orrison in 1979 and divorced her in 2000.

His son, Andrew C. Taylor is the current executive chairman of Enterprise. On the other hand, his daughter, Jo Ann Taylor, is in charge of the Taylor family’s philanthropic activities.

Jack Taylor Net Worth: Salary, Income Sources

At the time of his death in 2016, Jack Crawford Taylor had a net worth of 12.8 billion dollars. He amassed his massive fortune as the founder and owner of the Enterprise Rent-A-Car Company. During his lifetime, he was considered one of the richest people in the United States and was listed among the world’s top 50 richest people.

According to his company, Enterprise, by the time of his death, Taylor and his family controlled a fleet of about 1.7 million cars — the largest in the world — and roughly 88 percent of the private company.