How rich was Friedrich Weyerhaeuser?
Friedrich Weyerhaeuser net worth:
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Friedrich Weyerhaeuser Net Worth, Wiki & Biography in 2017
Friedrich Weyerhaeuser was born on the 21st November 1834, in Nieder-Saulheim, Rhenish Hesse in what became Germany, and died on 4th April 1914, in Pasadena, California, USA. He was widely known as a businessman, the owner of the Weyerhaeuser Company, which owns timber sawmills, paper factories, and other businesses. His career was active from the 1850s until his death.
Have you ever wondered how rich was Friedrich Weyerhaeuser? According to the authoritative sources, it was estimated that his overall net worth’s was over $80 billion, the main source of which was his successful work in the timber industry. This sum of money made him one of the richest and most highly regarded businessmen of all times, actually the 8th richest person in American history.
Friedrich Weyerhaeuser Net Worth $80 Billion
Friedrich Weyerhaeuser was raised with 10 siblings, by Johann Weyerhaeuser and their mother.on their own farm, where they worked for living. At the age of six, he started attending the Lutheran School in nearby town, Nieder-Saulheim. When he was eight years old, Friedrich started helping on the farm, doing small jobs, until four years later his father died, so he was obliged to quit his studies and take over the farm. In 1848 in Germany, The Revolutions began, thus some of his siblings decided to move to Pennsylvania, USA. Friedrich followed in 1851, and worked at a brewery owned by an emigrant, however, he quit after two years, sold the farm, and as an 18-year-old, he moved to Rock Island, Illinois with other family members, and worked on the railroad.
His net worth was slowly growing, and after working in a sawmill, began his own lumber company with his brother-in-law, the Weyerhaeuser-Denkmann Lumber Company, which soon began to acquire other companies in the lumber business, and that`s how his net worth really began to increase. Subsequently, Friedrich became responsible for building-up the “Weyerheauser Syndicate”, a network of lumber interests, which reportedly had hundreds of partners, altough none of them knew the business of the other, but had Weyerhaeuser as the man in charge.
In the 1870s Friedrich founded the Mississippi River Boom and Logging Co, which further expanded his net worth. However, the main source of his immense net worth was to remain the Weyerheauser Timber Company, which soon became one of the leading companies in the lumber industry, and is still the world’s largest timber seller.
To speak further of his successful career, Friedrich owned shares in companies such as Potlatch, Boise Cascade Corporation, among many others.
His house, later called the Weyerheauser House, is registered on the National Register Of Historic Places, and now is a part of the Augustana College campus.
Regarding his personal life, Friedrich Weyerhaeuser had seven children with his wife, Sarah Elizabeth Bloedel. In 1878, he founded the music hall in Nieder-Saulheim and in the same year he was added to the USA Business Hall of Fame. Friedrich was buried in the family mausoleum in Rock Island.