38-559: Manuel "Matty" Moroun (June 5, 1927 – July 12, 2020) was an American billionaire businessman, most notable as the owner of the Ambassador Bridge international crossing connecting Detroit, Michigan , and Windsor, Ontario . The bridge, which Moroun purchased from the Bower family in 1979, is one of the few privately owned border crossings between the United States and Canada. The bridge
76-412: A billionaire. The top 10 universities produced just 99 of the top 400 billionaires combined, significantly less than the total number of billionaires who were not college educated. Military service produced 21 billionaires, more than any single university. Very few college-educated billionaires pursued business interests in their field of study, with the exception of computer science majors. All twelve of
114-473: A given currency , usually of a major currency such as the United States dollar , euro , or pound sterling . It is a sub-category of the concept of the ultra high-net-worth individual . The American business magazine Forbes produces a global list of known U.S. dollar billionaires every year and updates an internet version of this list in real time. The American oil magnate John D. Rockefeller became
152-561: A net worth of at least $ 100 billion. According to the UBS/PwC Billionaires Report 2019 report released in November 2019, there are currently 2,101 U.S. dollar billionaires worldwide, from 66 countries, with a combined net worth of $ 8.5 trillion. Also according to the report, billionaires have a substantial positive impact on the sustainability and success of companies controlled by them. Billionaire-controlled companies listed on
190-578: A night in jail, both men were released by the appellate court while they heard the case. The United States and Canadian governments have agreed to build the Gordie Howe International Bridge , a bridge between Detroit and Windsor to be located downriver, and to be funded entirely by the Canadian government. All tax revenues from tolls from the Gordie Howe bridge are to be granted to Canada for
228-404: A result of death or divorce, including Julia Koch , and Jeff Bezos 's former wife MacKenzie Scott . From 2014 to 2019, the number of female billionaires grew by 46%. That is more than the number of male billionaires in the same period (39%). As of 2019 there were 233 female billionaires in the world, compared to 160 in 2013. Billionaires come from a very wide number of backgrounds. A review of
266-527: Is now estimated to be worth between $ 1.5 and $ 3 billion. CenTra, Inc. is also the controlling body of Central Transport International, an LTL trucking carrier. Moroun also had a controlling stake in Universal Truckload Services Inc., which is a holding company for several over-the-road truck lines and logistics companies (Universal Am-Can Ltd., Mason Dixon Lines, Economy Transport, Cavalry Logistics, Louisiana Transportation, Inc., etc.). Moroun
304-689: The Institute for Research on Public Policy , a Montreal think tank, from 1999 to 2006. He sat on the board of directors and was a distinguished fellow at the Canadian Defence and Foreign Affairs Institute . He was also a member of the Trilateral Commission . Segal was appointed Master of Massey College in the University of Toronto (effective at the end of June 2014) and retired from the Senate to accept
342-503: The University of Notre Dame in South Bend, Indiana , and Detroit, to help run the family business. He graduated in 1949 with a bachelor's degree in chemistry and biology. He aspired to become a doctor, but ultimately went back to Detroit to work at the family's service station. He also cleaned and serviced buses for a living. By the middle of the 1950s, Matty was responsible for managing most of his family's trucking business. Moroun bought
380-658: The University of Ottawa and was an aide to federal Progressive Conservative Leader of the Opposition Robert Stanfield in the early 1970s, while still a university student. At the age of 21, he was an unsuccessful Progressive Conservative candidate in Ottawa Centre for the House of Commons of Canada in the 1972 general election . He was defeated again in 1974 . As a member of the Big Blue Machine , Segal
418-631: The global population of 400 million. In the same period, the wealth of the richest 62 people between the World's Billionaires increased by $ 500bn (£350bn) to $ 1.76tn. More recently, in 2017 an Oxfam report noted that just eight billionaires have as much net worth as "half the human race". However, the Oxfam report has been criticized for considering debt as negative wealth, which leads to wealthy people with large amounts of debt to be considered poor or not wealthy. These aggregated statistics for billionaires include
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#1732855593325456-459: The 1980s and 1990s, Segal became a television pundit and newspaper columnist . In the private sector, Segal has been an executive in the advertising, brewing, and financial services industries. Segal lived in Kingston, Ontario , and until 2014 was a faculty member at Queen's University 's School of Policy Studies, and has also taught at the university's school of business. He served as president of
494-702: The 21st century. In December 2011, the federal government appointed him special envoy to the Commonwealth with the task of convincing individual countries to sign on to the EPG's 106 recommendations. Provincial Provincial Segal espoused a moderate brand of conservatism that has little in common with British Thatcherism or US neoconservatism . He was a Red Tory in the tradition of Benjamin Disraeli , Sir John A. Macdonald , John Diefenbaker and his mentors Robert Stanfield and Bill Davis. This political philosophy stresses
532-692: The 321st-richest American. Moroun married his wife, Nora, when he was 44 years old. Together, they had one child, Matthew, who went on to manage the family business after Moroun retired. The family resided in Grosse Pointe Shores , Michigan. One of Moroun's sisters, Agnes, was in charge of the human resources department at CenTra Inc. His other two sisters, Victoria Baks and Florence McBrien, sued him for $ 53 million in 1992. They alleged that he had “cheated them out of their inheritance” following their father's death that same year, in addition to engaging in shareholder oppression , and excluding them from
570-758: The Ambassador Bridge in 1979 when shares came on the market. It had originally been privately built by railroad interests. In 2009, the Michigan Department of Transportation (MDOT) sued Moroun and the Detroit International Bridge Company , for failing to comply with the terms of a contract to construct ramps connecting the Ambassador Bridge to nearby I-75 and I-96 freeways as part of the Gateway Project . In February 2010, Wayne County Circuit Judge Prentis Edwards ruled that Moroun and
608-682: The American revolution -- which was more about self-interest, mercantile opportunity, and who collected what tax than it was about tolerance or freedom." Segal opposed on civil liberties grounds the imposition of the War Measures Act by Prime Minister Pierre Trudeau in the October Crisis of 1970. He favoured strengthening Canada's military and encouraging investment while maintaining a strong social safety net . His 1998 proposal to reduce Canada's Goods and Services Tax from 7% to 6% (and then 5%)
646-549: The Conservative government, which reportedly wished to appoint a more ideologically conservative senator to the role after the committee issued a report critical of the Conservative government's foreign aid policy. Segal insisted, however, that the move was an administrative one. Segal later served as Chair of the Special Senate Committee on Anti-Terrorism. In December 2013, Segal announced his intention to resign from
684-648: The Senate in June 2014, twelve years before he would reach the mandatory retirement age of 75, to accept an academic appointment as Master of Massey College in Toronto. On July 7, 2010, Segal was appointed to the Commonwealth Eminent Persons Group (EPG) by Secretary General Kamalesh Sharma . The group's mandate is to set out recommendations on how to strengthen the Commonwealth and fulfill its potential in
722-498: The United States. In an earlier book, his 1996 memoir No Surrender (page 225), Segal wrote: "Progressive Conservatives cannot embrace the nihilistic defeatism that masquerades as a neo-conservative polemic in support of individual freedom and disengagement." He went on to deplore "American fast-food conservatism." In a speech to the National Press Club on June 21, 1995, Segal referred to the "selfish and directionless nature of
760-559: The age of 40, while the list of American-only billionaires, as of 2010, had an average age of 66. Different authorities use different methodologies to determine net worth and to rank them, and not all information about personal finances is publicly available. In 2019, Forbes counted a record 607 billionaires in the U.S.. Over the course of the 2020s, depending on the source and the year, the world's richest person has been reckoned to be Jeff Bezos , Bernard Arnault and family, or Elon Musk . In 2019, 19 people became billionaires. Four were
798-566: The business. The seven-year legal battle concluded in October 1999, with a settlement that saw Moroun purchase the shares of his two sisters in CenTra Inc. He ultimately reconciled with them. Moroun died of congestive heart failure at his home in Grosse Pointe Shores on July 12, 2020. Billionaire A billionaire is a person with a net worth of at least one billion units of
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#1732855593325836-534: The chief deputy of the Detroit International Bridge Co., Dan Stamper, were in violation of the contract, and ordered them to come into compliance. On January 12, 2012, Judge Edwards found both Moroun and Stamper to be in non-compliance with his previous order, and ordered both men to jail, denying a motion to stay the order until it could be appealed to the Michigan Court of Appeals . After spending
874-524: The city's east side with three sisters. His father ran two gas stations in Detroit, where Matty worked before and during high school, which he completed at the University of Detroit Jesuit High School . He later claimed that Jimmy Hoffa was one of the customers for whom he'd pumped gas. In 1946, his father bought Central Cartage Company, which would later become Central Transport, and Matty started working with him. During college, Matty regularly commuted between
912-456: The common good and promotes social harmony between classes. It is often associated with One Nation Conservatism . The focus is on order, good government and mutual responsibility. Individual rights and personal freedom are not considered absolute. In his 1997 book Beyond Greed: A Traditional Conservative Confronts Neo-Conservative Excess , Segal sought to distinguish what he called "traditional" conservatives from neo-conservatives, notably those in
950-421: The computer science major billionaires worked in computer science, while only half of engineers worked in engineering, and less than a quarter of finance and economics majors ever worked in finance or economics. The most common field for billionaires to enter was sales and military service. According to a 2016 Oxfam report, the wealth of the poorest 95% dropped by 38% between 2010 and 2015, due to an increase in
988-434: The education and work histories of the top 400 billionaires shows little correlation between education and success. Nearly 30% of billionaires do not have a college degree, greatly exceeding any other educational background. The most common field of university education was finance and economics, which only contributed to a combined 15.5% of billionaire educations. There is little correlation between any university and becoming
1026-671: The equity market returned 17.8 percent, compared with the 9.1 percent of the MSCI AC World Index . According to the authors of the report, this Billionaire Effect is connected with smart risk-taking and willingness to plan and invest for the long term. The majority of billionaires are male, as fewer than 11% (197 of 1,826) on the 2015 list were female billionaires . The United States has the largest number of billionaires of any country, with 536 as of 2015 , while China , India and Russia are home to 213, 90 and 88 billionaires, respectively. As of 2015 , only 46 billionaires were under
1064-587: The new Windsor-Detroit Bridge Authority was intended to anger the Moroun family. McQueen had been the executive assistant to Hugh Segal , Prime Minister Brian Mulroney 's chief of staff, when the Mulroney government had a dispute with Moroun. Moroun owned Michigan Central Station from 1995 until 2018, when it was then sold to the Ford Motor Company . Moroun and his family had faced criticism for failing to invest in
1102-416: The next 50 years after construction completes. This is in contrast to the tolls collected on the Ambassador Bridge, which are subject to United States taxes and given to Detroit. Critics suggested that Moroun's opposition was fueled by the prospect of lost profits from duty-free gasoline sales at the bridge. Ed Arditti, of the online news site Windsor Square, suggested the appointment of Mark R. McQueen to
1140-512: The position. He retired from the Massey College position effective June 30, 2019, five years into his seven-year term, and was succeeded by Nathalie Des Rosiers . Segal was born in Montreal into what he described as a "very low-end, working-class family in what is now called Le Plateau ". However richer relatives ensured that he and his brothers received a good education. He was Jewish. He
1178-467: The property over its years of ownership, leading to a significant amount of decay within the property, and generally contributing to the " urban blight " characteristic that has enshrouded Detroit for much of the latter part of the 20th century through the early 21st century. On June 11, 2018, Matthew Mourun confirmed the transfer of possession and sale of the station and the warehouse to the Ford Motor Company . A 2008 Forbes article listed Matty Maroun as
Manuel Moroun - Misplaced Pages Continue
1216-588: The second ballot runoff vote against third-place finisher David Orchard . He had also briefly considered running for the Progressive Conservative leadership in 1993 . In 2005, Segal was appointed to the Senate of Canada by Liberal Prime Minister Paul Martin . He was the chairman of the Senate Foreign Affairs Committee until he "reluctantly" agreed to resign in 2007 at the request of
1254-501: The total number of known billionaires and the net worth of the world's wealthiest individual for each year since 2008. Data for each year is from the annual Forbes list of billionaires, with currency figures given in U.S. dollars. Data since 2018 also includes the Wealth-X billionaire census which typically finds higher numbers than Forbes . Hugh Segal Hugh Segal OC OOnt CD (October 13, 1950 – August 9, 2023)
1292-454: The world's first confirmed U.S. dollar billionaire in 1916. As of April 2024, there are 2,781 billionaires worldwide, with a combined wealth of over US$ 14.2 trillion, up from US$ 12.2 trillion in 2023. According to a 2024 Oxfam report, the world's top 1% of earners own more combined wealth "than 95% of humanity". As of October 2024, seventeen people have reached the status of USD centibillionaires, meaning that each has had
1330-576: Was a Canadian political strategist, author, commentator, academic, and senator. He served as chief of staff to Ontario Premier Bill Davis and later to Canadian Prime Minister Brian Mulroney . Segal resigned from the Senate of Canada on June 15, 2014, as a result of his appointment as master (later principal ) of Massey College in Toronto . Segal was inspired by a visit from Prime Minister John Diefenbaker in 1962 to his school, United Talmud Torah Academy in Montreal . Segal went on to graduate from
1368-420: Was a senior aide to Ontario Progressive Conservative Premier Bill Davis in the 1970s and 1980s, and he was named Deputy Minister at age 29. From 1992 to 1993, he was Chief of Staff to Prime Minister Brian Mulroney . Segal finished second to Joe Clark after the first ballot of the 1998 Progressive Conservative leadership election , but he chose to withdraw and support Clark (the eventual winner ) in
1406-572: Was adopted by Stephen Harper and the Conservative Party in 2005. During his leadership campaign, he stated his support for capital punishment . On June 6, 2012, Segal had a comment published in the National Post outlining his views on Basic Income . In December 2012, Segal published an essay in the Literary Review of Canada promoting the benefits of a guaranteed annual income . In
1444-526: Was formerly owner of the Roosevelt Warehouse and of Michigan Central Station . Manuel Moroun was born in 1927 in Detroit to a Lebanese family. His grandfather first moved from South America to Windsor, Ontario . According to Moroun, the family moved across the river to Detroit when the Ambassador Bridge company purchased and demolished his grandfather's Windsor home for its new bridge. Matty grew up on
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