Manuel Moroun

About Manuel Moroun

Birth Day: June 05, 1927
Birth Place: Grosse Pointe Shores, Michigan, United States
Birth Sign: Cancer
Residence: Grosse Pointe Shores, Michigan
Other names: Matty Moroun
Alma mater: University of Notre Dame
Occupation: Chairman and CEO of CenTra Inc.
Known for: Owner of the Ambassador Bridge and Michigan Central Station
Spouse(s): Nora
Children: Matthew Moroun

Manuel Moroun Net Worth

Manuel Moroun was bornon June 05, 1927 in Grosse Pointe Shores, Michigan, United States. Trucking magnate "Matty" Moroun is more reclusive than ever, leaving his son Matthew as the public face in the family's ongoing legal battle with Canada and the state of Michigan over plans to replace their 88-year-old Ambassador Bridge with a new $700 million bridge between Detroit and Windsor, Ontario. It's been a family money-maker for 35 years, but stands to lose up to 75 percent of its traffic when a competing bridge, funded by the Canadian government, is built. Meanwhile, the Morouns' trucking empire, a mix of private and publicly traded companies, is getting squeezed by competition.
Manuel Moroun is a member of Logistics

💰 Net worth: $1.74 Billion (Updated at 22 June 2018)

2009 $1.3 Billion
2010 $1.6 Billion
2011 $1.5 Billion
2012 $1.5 Billion
2013 $1.5 Billion
2014 $1.7 Billion
2015 $2 Billion
2016 $1.8 Billion
2017 $1.5 Billion
2018 $1.62 Billion

Some Manuel Moroun images

Biography/Timeline

1945

Manuel Moroun was born in Detroit, of Lebanese descent. He grew up on Detroit's east side with three sisters. His Father ran two gas stations in Detroit, where Matty worked before and during high school. Moroun attended the University of Detroit Jesuit High School, graduating in 1945.

1946

In 1946, his Father bought Central Cartage Company, which would later become Central Transport, and Moroun started working with him. During college, Matty regularly commuted between 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.

1979

Moroun bought the Ambassador Bridge in 1979 when shares came on the market. It was originally privately built by railroad interests.

2008

The bridge 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 has 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 is also the owner of the derelict Michigan Central Station for railroad Passenger traffic and the Roosevelt Warehouse. A 2008 Forbes article listed him as the 321st richest American.

2010

The US and Canadian governments have agreed to build the Gordie Howe International Bridge, a bridge between Detroit and Windsor to be located downriver. On 25 March 2010, Moroun announced a suit to try to block construction of the new bridge, as it would compete with his own proposal to build a second span of the Ambassador Bridge, which he would own. Critics suggest that Moroun's opposition is fueled by the prospect of lost profits from duty-free gasoline sales at the bridge.

2012

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 expressways as part of the Gateway Project. Wayne County Circuit Judge Prentis Edwards ruled in February 2010 that Moroun and the chief deputy of the Detroit International Bridge Co., Dan Stamper, were in violation of the contract and ordered them to become in compliance. On 12 January 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 a night in jail, both men were released by the appellate court while they heard the case.