H.Wayne Huizenga Net Worth: The Business Tycoon and Team Owner H. Wayne Huizenga Pass Away at Age 80!

Here, we talk about the net worth of H. Wayne Huizenga. In this article, we are talking about net worth and salary. We are also informing you about their career and so many other things.

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H. Wayne Huizenga Net Worth

At the time of his death in 2018, American businessman, entrepreneur, and professional sports franchise owner H. Wayne Huizenga was worth $2.8 billion.

H. Wayne Huizenga was a rare breed of entrepreneur who created not one, not two, but three firms that became Fortune 500 conglomerates, each earning him billions of dollars.

He founded Waste Management, Inc. in 1968 with a single garbage truck and grew it into a Fortune 500 powerhouse.

He had purchased 133 smaller garbage companies by the time he went public in 1972. Throughout the United States, Waste Management was the leading provider by 1983.

With Blockbuster Video, Huizenga achieved a similar level of success, expanding the company from a handful of locations in 1987 to the largest movie rental chain in the United States by 1994. Must check this KT Tunstall Net Worth

He also opened and eventually bought more car lots along the road. Since it started in 1996, AutoNation has grown to become the biggest car dealer in the U.S. and a Fortune 500 company.

As a businessman, Wayne Huizenga formerly owned the Miami Dolphins of the National Football League (NFL), the Florida Panthers of the National Hockey League (NHL), and the Miami Marlins of Major League Baseball (MLB). H As of March 23, 2018, Wayne Huizenga passed away at the age of 80.

H. Wayne Huizenga Net Worth: Of Dutch ancestry, Harry Wayne Huizenga was born on December 29, 1937 in Chicago… https://t.co/G8rH8OYPkU

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The Business Tycoon and Team Owner H. Wayne Huizenga Pass Away at Age 80.

On Thursday night in Fort Lauderdale, Florida, H. Wayne Huizenga, the businessman who built Blockbuster video and AutoNation into massive corporations and who controlled three South Florida sports teams, passed away. He was 80.

Huizenga Holdings’ executive vice president Bob Henninger confirmed Mr. Huizenga’s passing, stating the businessman had been battling cancer for quite some time.

Mr. Huizenga, whose name is pronounced HIGH-zing-ah, first became successful with Waste Management, which he started in 1962 after driving a garbage route.

He used to get up before dawn, transport rubbish to the dump, take a shower, and then spend the rest of the day trying to secure contracts with local businesses and homeowners.

The younger Mr. Huizenga said of the scent, “it was a smell I learned to adore,” in a Friday interview. If I asked my father about it he’d remark, “Son, that sure does smell like cash.”

After Mr. Huizenga had stepped aside from active management in 1984, the company was worth several billion.

Mr. Huizenga was quick to learn the lessons of that achievement, even though it was his business partner Dean Buntrock who is credited with the concept of a garbage company with a national presence.

Garbage collection, for example, was an industry he considered ripe for consolidation since it had regular clients and recurrent revenue but was otherwise small and underfunded.

Even though he rarely watched movies, he saw a potential market when he walked into a small Chicago video store called Blockbuster in 1987.

The selection in classic video stores was pitiful, and the atmosphere was somewhat seedy. Blockbuster, on the other hand, was spotless and welcoming, and the number of available rentals was practically endless. Please read also James Murray Net Worth

He invested in the company back in 1987, when it had only 20 stores, and over the next seven years, he saw it grow to more than 3,500 outlets.

Wayne Huizenga Jr., who helped launch the company’s initial locations after the investment, remembered that his father had purchased three strategically placed South Florida liquor stores and rebuilt them in the trademark Blockbuster style.

The chain, which aimed to attract families, banned all NC-17 movies from its shelves (not to mention X). Wayne Jr. suggested that eliminating an inaccessible area for youngsters would be appreciated by their parents.

Mr. Huizenga became something of a folk hero in South Florida as Blockbuster’s popularity and the stock price soared, and it sometimes appeared that the entire region was benefiting from his success. People from out of the blue would approach him and admit they were shareholders after asking about the company.

According to Mr. Henninger, Mr. Huizenga still had strong feelings for the company even after deciding to sell to Viacom for $8.4 billion in 1994.

By the mid-1990s, his mythical status among investors had begun to exceed his actual performance. As a result of his engagement, the value of the firms he bought or took public would soar.

“That stock is running fast,” the younger Mr. Huizenga recalled his father saying frequently. “That had to have been stressful for him.”

Mr. Huizenga took control of one of these firms in 1995, and in the years that followed, the share price of Republic Services increased by a factor of several.

Even though Republic started as just another trash hauler, it eventually became a key component of the multinational corporation that Mr. Huizenga aimed to build. Please read also James Spader Net Worth

It then went on to establish a nationwide network of used-car lots, buy up dozens of new-car lots, and toss in the acquisition of a few rental-car agencies like Alamo and National for good measure.

The sheer volume of a nationwide vehicle retail and servicing firm, in Mr. Huizenga’s estimation, would be enough to make up for the business’s low margins, thus he proposed consolidating all of these operations into one.

We had just left Blockbuster, which had enormous gross margins, and Mr. Henninger quotes him as saying, “There are no margins here.” I found myself agreeing with him. He continued, “But look at the number of zeroes. This is a significant amount, Bob, if you take a little profit margin and multiply it by a high volume of sales.

However, the car division, which was eventually rebranded as AutoNation, failed to gain traction. Mike Jackson, who was in charge of Mercedes-Benz in the United States at the time, was hired as CEO in 1999.

Mr. Jackson recounted in an interview that after two weeks on the job, he met with Mr. Huizenga and recommended that the company sell off numerous elements and concentrate on new automobiles to streamline the business.

Mr. Jackson added, “It was a moment of truth when I told Wayne we would have to perform major surgery.” However, he backed Mike up by saying, “O.K., Mike, you have my support.” Wayne gave me all the authority I needed to make the right decisions.

Today, AutoNation is not only one of the most lucrative companies in the car industry, but it is also the largest pure auto retailer in the country.

In the early 2000s, Mr. Huizenga stepped down as chairman of AutoNation, but he continued to be a significant shareholder and a mentor to Mr. Jackson.

Mr. Huizenga had a rocky career as a sports mogul whose holdings included the Florida Panthers hockey team and the Miami Dolphins, despite his reputation for no-nonsense economic acumen.

He was the owner of the 1997 World Series champion Florida Marlins, but he immediately began destroying the team after it suffered massive financial losses. The following year, he decided to sell the team.

Years later, Mr. Huizenga still felt the sting of accusations that he had betrayed the community through his heartless management of its championship squad.

It was the other way around, in his opinion: after spending tens of millions of dollars of his own money to create a contender and succeeding against all odds, he was met with indifference from the Florida fan base.

He would have lost $30 million but South Florida would have been thrilled, according to Mr. Huizenga’s son. “Had the stands been packed every day for regular games and not at one-quarter capacity,” he added.

Instead, he was out $30 million and nobody showed up to help him pick it up. Wow, that hurts, he said. “I don’t get it.

Wayne Jr. stated that his father had believed he was acting properly by getting rid of expensive contracts once he chose to sell the team so that the next owner could begin rebuilding the organization without seeming like the villain.

On December 29, 1937, in Chicago, Illinois, to parents, Jean and Harry Huizenga, their son Harry Wayne Huizenga entered the world. He was a teen when his family relocated to Florida, where he attended and eventually graduated from Pine Crest High School in Fort Lauderdale.

To pursue his business interests, he left Calvin College in Grand Rapids, Michigan. After a short marriage to Joyce Vanderwagon, he and his wife eventually split up. He lost his second wife, the former Martha Jean Pike, only last year. Must check this Patrizia Reggiani Net Worth

Mr. Huizenga is survived by his son Wayne, three more children (Scott, Ray, and Pamela Huizenga, as well as grandchild Pamela Huizenga Alexander), and eleven grandkids.

Until his death, he was still actively involved in Huizenga Holdings and was a major contributor to the Republican Party.

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