Jon Huntsman Sr. Net Worth, Biography and Achievements

Jon Huntsman Sr. Net Worth  $3 billion

Jon Huntsman Sr., a young American dreamer who rose to become a billionaire industrialist in Utah and the father of that state’s governor, died at his home in Salt Lake City when he was 80 after being ill for an extended period of time, is the topic of today’s article.

We seek to explore and bring to light all the necessary details of his life and ambitious career that involved many business endeavors as well as humanitarian contributions that established this icon as one of the most revered in the United States.

Mr. Huntsman founded a small packaging company that eventually grew into something monumental, created many of the first plastic bowls, plates, bowls, and fast-food containers, and became a household name in the business world before its owner sold it went on to establish the Huntsman Corporation, an $8 billion multinational venture that produces chemicals used in almost every industry ranging from clothing to automobiles.

Huntsman also served in the Nixon administration and later ran unsuccessfully for governor in Utah in 1988. But in spite of all his entrepreneurial and political progress, he still had time to pay attention to philanthropy, for which he was famously known.

After losing both of his parents to cancer and battling the disease himself, Huntsman, in the year 1992, created the Huntsman Cancer Institute at the University of Utah. After establishing the foundation with a $10 million grant, he and his family have donated more than $1.4 billion to cancer research in the years since.

Early Life: Childhood, Education

He was born Jon Meade Huntsman in Blackfoot, Idaho, the United States, into the family of Alonzo Blaine Huntsman Sr. and Sarah Kathleen. His mother was a homemaker, and his father worked as a school educator. In 1950, the family relocated to Palo Alto, California, where Alonzo earned an M.A. and Ed.D. at Stanford University before becoming a superintendent of schools in the Los Altos district.

On his part, Jon Huntsman studied at Palo Alto High School after which he was awarded a Zellerbach scholarship by Crown-Zellerbach Paper Company chairman Harold Zellerbach to attend the Wharton School of the University of Pennsylvania. He graduated from Wharton in 1959.

A few weeks after his graduation, he married Karen Haight, daughter of David B. Haight. The following month, he left to serve in the United States Navy for two years as an officer aboard the USS Calvert.

He later attended the University of Southern California’s Marshall School of Business where he earned an MBA in 1966.

Professional Life: Business Career

Jon Huntsman was the founder and executive chairman of Huntsman Corporation. His company is a global manufacturer and distributor of specialty chemicals. It also manufactures a range of organic and inorganic chemicals that include pigments, polyurethanes, and textiles.

After attending the University of Pennsylvania and the Wharton School, he left his previous roles to join an egg distribution business run by his wife’s uncle and helped develop a plastic carton for the company after he noticed that the cardboard cartons were prone to leaks. The company was bought by Dow Chemical in 1965.

Huntsman’s ambitions were varied. He spent time selling music recordings on television (after repackaging them) under titles like “Greatest Hits of Rock & Roll.” He joined the Nixon administration in 1970, eventually serving as staff secretary and special assistant to the president.

But by then, he had already created the Huntsman Container Corporation. In 1982, he founded the Huntsman Chemical Corporation. Then, after acquiring the global operations of the Texaco Chemical Company, the venture evolved into the Huntsman Corporation.

Achievements: Awards & Honors

Huntsman received thirteen honorary doctorate degrees at different universities during his lifetime. The Chemical Heritage Foundation awarded him the Othmer Gold Medal in 2004 in recognition of his contributions to research, innovation, and philanthropy.

In 2013 he was presented a Leadership Award for Lifetime Achievement by the Chemical Marketing and Economics (CM&E) group. Two years on, the Franklin Institute recognized him with the Bower Award.

Personal Life: Family, Private Interests, Death

Huntsman was married to his wife, Karen for more than 58 years, and had nine children together. At the time of his death, they had 56 grandchildren, and 19 great-grandchildren.

His eldest son, Jon Huntsman Jr., also served as an executive at Huntsman Corporation. He was elected Governor of Utah in the year 2004 and was a presidential aspirant of the Republican Party in 2012. Furthermore, he has also served in other governmental posts, including as Ambassador of the United States to China, Russia, and Singapore.

His second-eldest son, Peter, took over as the chief executive officer of the Huntsman Corporation in July 2000 and became the company’s chairman in January 2018.

A four-time cancer survivor, Huntsman died on February 2, 2018, at his home in Salt Lake City, Utah.

Jon Huntsman, Sr. Net Worth: Salary, Assets, Income Sources

Jon Huntsman, Sr. had a fortune of 3 billion dollars at the time he passed away four years ago. He was known to be one of the richest people in Utah. He made his money courtesy of the success of his company, the Huntsman Corporation, which he established in the 1970s.

After starting out as a manufacturer of plastic plates and bowls, the Huntsman Corporation gradually evolved into an $8 billion multinational enterprise that specializes in the production of a variety of chemicals.

An active philanthropist outside his business, the late businessman spent a huge portion of his income on trying to better the lives of other people through charitable donations. He is one of the very few people in the world’s history to successfully give away over a billion dollars to charity in their own lifetimes.