E. Joe Shoen: The Frugal Billionaire Behind U-Haul

E. Joe Shoen is an American businessman who is the president, chairman, and chief executive officer (CEO) of AMERCO, the holding company of U-Haul International. He is known for his frugality and his controversial leadership style. As of August 2023, Shoen was estimated to have a net worth of $4.1 billion.

Early Life and Education

E. Joe Shoen was born in Phoenix, Arizona, on March 28, 1949. He is the son of Leonard Shoen, the founder of U-Haul. Shoen attended the College of the Holy Cross and Harvard Business School.

Career

Shoen joined U-Haul in 1971. He became president of U-Haul in 1985 and CEO in 1986. In 1986, Shoen led a coup that ousted his father from the company. The coup led to a long-running feud between Shoen and his siblings.

Shoen is known for his frugal management style. He has been criticized for his insistence that employees stay in cheap motels, two to a room. He has also been criticized for his decision to outsource many of U-Haul’s jobs overseas.

Despite his controversial management style, Shoen has been successful in growing U-Haul into a global company. U-Haul is now the largest moving van and storage company in the world.

Personal Life

Shoen is married to Sylvia Shoen. They have two children, Stuart and Samuel. Shoen is a private person and does not share much about his personal life.

Net Worth

Shoen’s net worth is estimated to be $4.1 billion. He is one of the richest people in Arizona.

Social Media Presence

Shoen is not active on social media.

E. Joe Shoen is a controversial but successful businessman. He is known for his frugality and his tough leadership style. He has been criticized for his treatment of employees and his decision to outsource jobs overseas. However, he has also been successful in growing U-Haul into a global company.