Herb Chambers

About Herb Chambers

Birth Day: November 15, 1940
Birth Place: Boston, Massachusetts, United States
Birth Sign: Sagittarius
Residence: Boston, MA, US
Occupation: Owner and president, The Herb Chambers Companies

Herb Chambers Net Worth

Herb Chambers was bornon November 15, 1940 in Boston, Massachusetts, United States. Herb Chambers dominates the New England auto sales market. His 55 dealerships bring in more than $2.5 billion per year and are a magnet for customers who covet luxury rides like Bentley, Rolls Royce, Maserati and Lamborghini. An avowed car fanatic -- he owns vintage Ferraris and a rare McLaren F1 -- he prefers his helicopter when commuting from Connecticut to his Somerville, MA headquarters. Chambers grew up in Boston's working-class Dorchester neighborhood, where he got his first job as a cart collector at the local supermarket. He later dropped out of high school during his senior year and joined the U.S. Navy. After returning, he borrowed $500 from his mother to start his first company, a copy distributor, which sold for $80 million in 1983. Chambers then stumbled into the car sales business, purchasing a Cadillac dealership that had given him poor service. Thirty years later, he is a billionaire, with a gleaming 200 foot yacht to prove it.
Herb Chambers is a member of Automotive

💰 Net worth: $1.5 Billion (Updated at 22 June 2018)

2015 $1.7 Billion
2016 $1.3 Billion
2017 $1.3 Billion
2018 $1.4 Billion

Some Herb Chambers images

Biography/Timeline

1959

In 1959, Chambers was out of school and looking for a purpose in life, so he ended up joining the United States Navy as an aviation electrician. After four years in the Service and acquiring the rank of Petty Officer Second Class - E-5, he returned home and started working at a South End bar that was owned by his mother. He worked for two months before being fired by his mother due to a scheduling mix-up.

1972

When asked what car in his collection was his favorite, Chambers stated the 1972 Ferrari Daytona Spider that he owned in the early 1980s was his personal favorite.

1983

In 1983, Chambers sold the A-Copy Business to Alco Standard Corporation for a reported $80 million and he continued to work with the company for another two years.

1985

Chambers started his Automotive Business after purchasing a Cadillac dealership in New London, Connecticut, in 1985. His decision to purchase the Business was based on his own poor buying experience at the dealership. As Chambers improved the operations of this first car dealership, he started the Herb Chambers Companies.

2007

In 2007, The Boston Globe carried an article and photo gallery highlighting Chambers' car collection. His collection of rare automobiles includes the McLaren F1, Mercedes-Benz SLR McLaren, Ferrari Daytona Spyder, Ferrari Daytona Coupe, 2006 Ford GT, 2008 Bugatti Veyron, Porsche 959 Supercar, 2006 Porsche Carrera GT, Cadillac Eldorado Biarritz Convertible, Ford Model B (1932) and a 1955 Mercedes-Benz 300SL that was raced in the 1983 Cannonball Run.

2016

In 2016, Chambers helped to lead the effort to bring the Boston Police Department's mounted police unit back after it was disbanded in 2009 due to budget cuts. He was willing to donate $100,000 of the $1.5 million needed with the remaining funds would hopefully come from corporate support and city funding.

2017

In August 2017, Chambers sold his 1995 McLaren F1 for $15.62 million at a Bonhams car auction held in Carmel, California.

2019

After the Navy, Chambers began working as a copy machine repairman in Cambridge, Massachusetts for $75 a week, plus commission on any Service contracts he could sell. By the time he was 22, he had started his own copier distribution company called A-Copy America, with money borrowed from his parents, in Hartford, Connecticut. The copier Business was changing from a leasing model to a sales model due to the new low-cost copier Models from companies like Minolta, Canon, and Sharp and Chambers started selling copiers along with copy supplies. His Business soon became the world’s largest Minolta and Canon dealers with 1,400 employees in 36 offices.