Lee Iacocca Net Worth

Lee Iacocca Net Worth

How rich is Lee Iacocca?

Lee Iacocca net worth is
$100 Million

Lido Anthony Iacocca's salary (annual):
$1

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Lee Iacocca Net Worth 2017, Biography & Wiki

Lee Iacocca net worth: From that point, he went to earn a degree from Princeton University as a Wallace Memorial Fellow. He started his professional career as an engineer at Ford, but finally found his calling in the sales department. He climbed through the ranks comparatively fast at Ford. In 1965, he became Vice President of the Automobile and Truck Group. In 1967, he was named Executive Vice President. 3 years after, he became President of Ford. He was likewise in charge of the Ford Pinto, sadly, which had a serious design flaw. He collided with Henry Ford II and was eventually fired in 1978. He took over at Chrysler, which was fighting badly, and turned the business around entirely. Lee Iacocca was also renowned for being among the first CEOs to take only $1 a year in wages in exchange for an increased equity settlement. In 1986, his salary was $1 but his overall damages was $20.6 million He retired in 1992. He’s since focused on writing, philanthropy, and politics.

Quick Facts

Birth date: October 15, 1924
Birth place: Allentown, Pennsylvania, United States
Profession:Businessperson
Education:William Allen High School, Lehigh University, Princeton University
Nationality:American
Spouse:Darrien Earle (m. 1991–1994), Peggy Johnson (m. 1986–1987), Mary McCleary (m. 1956–1983)
Children:Kathryn Iacocca, Lia Iococca
Parents:Antonietta Perrotta, Nicola Iacocca
Siblings:Delma Iococca
imdb.com/name/nm2058120/
en.wikipedia.org/wiki/Lee_Iacocca


Interesting Facts

#Fact
1Release of his book, "Talking Straight" by Lee with Sonny Kleinfield.
2Release of his book, "Where Have All the Leaders Gone?" by Lee with Catherine Whitney.
3Release of his book, "Iacocca: An Autobiography" by Lee with William Novak.
4Inducted into the Automotive Hall of Fame in 1994.
5While Iacocca is rightly famous for developing the Ford Mustang, which turned out to be one of Ford's best cars, it must be remembered that he was also in charge of developing the Pinto, which turned out to be one of Ford's worst.
6Member of Theta Chi Fraternity (Beta Sigma Chapter, Lehigh University)
7Though often called "The Father of the Mustang", his role was more supportive. in 1961 the idea that became the Ford Mustang was developed by Don Frey, and the design came from the Ford studio under Joe Oros, Gale Halderman and L. David Ash. They pitched the idea to Lee, who was the General Manager of Ford Motor Co.'s Ford Division at the time, and gave the the go-ahead to do it. There was still one problem: the project was to be done in relative secrecy. They still needed Henry Ford II's approval. Lee approached him with this idea of a "Youth Car" but Henry was skeptical because the Edsel disaster of 1958-1960 was still fresh in his memory and he didn't want a repeat of that fiasco. Lee assured Ford that he could sell 100,000 of the Mustang in its first year. Henry reluctantly gave his approval. The story goes that when Lee got up to leave Henry's office, Henry stopped him and asked, "Are you absolutely sure you can sell 100,000 of these things?" Lee looked him in the eye and said, "Yes." Henry said, "You better!" As it turned out 681,551 1964 1/2-1965 Mustangs were sold, shattering all quarterly and first-year model sales records, an accomplishment that still stands.
8Satisfied the Ford Thunderbird no longer needed a sporting image, Lee was looking for a replacement for the Thunderbird convertible. Stylist Bill Boyer said when Lee saw an artist's rendition of a four door Thunderbird, he stared at the picture while rolling his cigar in his mouth and said "That's the replacement for the convertible!" The four door Thunderbirds were built from 1967-1971.
9In 1979 he went to the administration of President Jimmy Carter to seek government loans to bail out Chrysler Corp., something that had never been done for a big company before. He was granted the loans because it was felt that if a major corporation like Chrysler failed, thousands upon thousands of Chrysler employees would lose their jobs and the ripple effect of a company that big closing down could cause possibly hundreds of thousands more job losses (it was also noted that it could be used politically to hammer the Carter administration by the Republicans in the 1980 elections). Lee used the money to develop the K-cars. Many auto enthusiasts believe that the fact that Iacocca could convince the public to buy those poorly made, underpowered and underwhelming cars is a testimony to what a great salesman he really is.


Quotes

#Quote
1[on action] Action should not be confused with haste.


Pictures



Filmography

Actor

Actor

TitleYearStatusCharacter
Miami Vice1986TV SeriesPark Commissioner Lido

Self

Self

TitleYearStatusCharacter
Reagan2011DocumentaryHimself - President, Chrysler Corporation
The Snake and the Stallion2002TV MovieHimself
Late Show with David Letterman1999TV SeriesHimself
60 Minutes Wednesday1999TV Series documentaryHimself - Former President, Ford Motor Company
Italians in America1998TV Movie documentaryHimself
Late Night with David Letterman1993TV SeriesHimself
Liberty Weekend1986TV Special documentaryHimself
Bob Hope Buys NBC?1985TV SpecialHimself
NBC Reports: Iacocca - An American Profile1984TV Movie documentaryHimself

Archive Footage

Archive Footage

TitleYearStatusCharacter
Abstract: The Art of Design2017TV Series documentaryHimself
The '80s: The Decade That Made Us2013TV Mini-Series documentaryHimself - CEO: Chrysler

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