How rich was John Zachary DeLorean?
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John DeLorean Net Worth, Wiki & Biography in 2017
John Zachary DeLorean was born on 6 January 1925, in Detroit, Michigan USA, of Hungarian and Romanian descent. He was an executive and engineer, best known for his work at General Motors. He was also the founder of the DeLorean Motor Company and was responsible for designing numerous vehicles throughout his career. All of his efforts helped put his net worth to where it was prior to his passing in 2005.
How rich was John DeLorean? As of early-2017, sources estimate a net worth that was at $50 million, mostly earned through success in the automotive industry. He’s best known for designing the DeLorean DMC-12 sports car which was featured in the film “Back to the Future”. All of his achievements ensured the position of his wealth.
John DeLorean Net Worth $50 million
John attended Cass Technical High School, and would pursue an electrical curriculum there. He would earn a scholarship at the Lawrence Institute of Technology where he studied industrial engineering, however, his studies were interrupted when he was drafted for military service in 1943, serving for three years in the US Army. After the war he worked as a draftsman for the Public Lighting Commission before deciding to complete his studies. During his time at college, he was recommended to work for Chrysler. He also briefly attended the Detroit College of Law but did not complete it and instead went to the Chrysler Institute, completing a master’s degree in Automotive Engineering. He also completed an MBA degree from the University of Michigan in 1957.
John spent less than a year with Chrysler and then moved to the Packard Motor Company because of the higher salary offering; his net worth started increasing quickly. After four years with the company, he would succeed as head of research and development, but was then contacted by General Motors, offering him a job, so in 1956, John accepted a higher salary at General Motor’s Pontiac division and his net worth further rose up.
He became close friends with Semon “Bunkie” Knudsen who was the son of the former president. DeLorean created numerous patented innovations for the company, and became very successful. One of his most notable contributions was the Pontiac GTO, a car with sales that continued to grow over the following years, considered one of the first ‘muscle cars’ and for which DeLorean was given a lot of credit. He would become the youngest division head at GM, however, conflicts with other division heads led to changes with the design of future Pontiac models. In the 1970s, he would help design the Pontiac Firebird which became popular throughout the decade.
During this time, he travelled to various events around the world and enjoyed celebrity status, which was nonconformist among General Motor executives, and it led to him clashing with the others. Despite that, he was able to rejuvenate Chevrolet sales thanks to improving designs for the Camaro and Corvette. In 1972, he would become the vice president of car and truck production, and it looked like he was set to inevitable become the president of the company. However, many other executives didn’t like that possibility, and the continued clash led to him resigning the following year.
He then formed the DeLorean Motor Company, and one of the first projects was the DMC-12, simply known as the DeLorean. The car had numerous delays and wasn’t released until 1981. However, the market had slumped due to economic recession and the result was financial trouble, which led to the company being dissolved. Later attempts to resurrect his car-making business were all failures.
For his personal life, it is known that DeLorean was married four times, firstly to Elizabeth Higgins from 1954 to 1969, then to Kelly Harmon from 1969 to ‘72. His third marriage was to model Cristina Ferrare in 1977 until 1985 with whom he had a daughter. He was married to Sally Baldwin at the time of his death, from a stroke at the age of 80 in 2005. In the early ‘80s he was charged with drug trafficking after an FBI sting operation, but was found not guilty.
John Zachary DeLorean information
John Zachary DeLorean information
|Birth date:||January 6, 1925|
|Birth place:||Detroit, Michigan, U.S.|
|Death date:||March 19, 2005, Summit, New Jersey, United States|
|Height:||6' 4" (1.93 m)|
|Education:||University of Michigan Cass, Technical High School Lawrence, Technological University|
|Spouse:||Cristina Ferrare (m. 1973–1985), Kelly Harmon (m. 1969–1972), Elizabeth Higgin (m. 1954–1969), Sally Baldwin (m. ?–2005)|
|Children:||Kathryn DeLorean, Zachary DeLorean|
|Parents:||Zachary DeLorean, Kathryn Pribak DeLorean|
|Siblings:||George DeLorean, Charles DeLorean, Jack DeLorean|
More about John Zachary DeLorean:
|World in Action||1985||TV Series documentary||Himself|
|Good Morning America||1980||TV Series||Himself|
|The Tonight Show Starring Johnny Carson||1973||TV Series||Himself|
|DeLorean: Living the Dream||2015||Documentary post-production||Himself|
|Larry Flynt: The Right to Be Left Alone||2007||Documentary||Himself|
|Anything to Win||2006||TV Series documentary||Himself|
|Car Crash: The DeLorean Story||2004||TV Movie documentary||Himself (interviewed 1996)|
|TV Eye||1984||TV Series||Himself|
|World in Action||1982||TV Series documentary||Himself|
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|1||DeLorean received a February 1969 promotion to head the Chevrolet Motor Division - he ended up streamlining the production line by delaying the release of the second generation Camaro (introduced April 1970) and a moratorium on product lifecycle management (later used with mass market automobiles where the automobile product marketed is restyled, rebodied, and/or facelifted every few years) with the Corvette and Nova (the Nova (X-body) received a midcycle refresh for the 1973 model year with a hatchback bodystyle - DeLorean proposed this for the Pontiac GTO prior to 1969 where its executives vetoed the proposal). During his tenure with Chevrolet he had oversight with the Chevrolet Vega subcompact where he assigned quality control inspectors until the Lordstown, OH assembly plant was taken over by GM (c. October 1971) where Chevrolet no longer operated the facility - GM corporate brass ended up cutting spending costs, laying off close to 1000 workers which resulted in the Vega tarnishing GM's reputation (from corrosion issues, reliability of the aluminum cylinder bores (which were unsleeved and consuming motor oil), overheating, and production speed (the Vega production increased when the work schedule has 73.5 automobiles produced within an hour where the United Auto Workers allegedly stated that workers sabotaged the cars on the assembly line including a March 1972 strike). The Vega was a response to imports from Toyota and Nissan (Datsun prior to 1984) until its discontinuation in 1977 (from the quality control issues, Asian import cars, and GM's H-Special line (Monza, Sunbird), along with its international T-platform (one of which was the Chevette - based on both the Opel Kadett redesign which was initially launched in Brasil in 1973 but powered with an Isuzu engine). Besides the Vega, DeLorean also had a role in the redesign of the Chevrolet C/K light truck, which dated back to 1968 where the cab and sheetmetal were redesigned with rounded corners with the use of a wind tunnel. This particular generation introduced in late 1972 (which continued until 1987 when the GMT400 became the replacement - the C/K designation for the 1973-era bodystyle was renamed as the R/V) is known as the rounded line (or square body) - this included the utility variants (Blazer, Jimmy, Suburban, Crew Cab, Chassis Cab (to 1989) which were produced until 1991) along with its continued production in Mexico (they continued to sell it as a short wheelbase with the updated front grille from the 1989-91 R/V series), Chile (1978-88), and Argentina (1985-91).|
|2||Father, with Cristina Ferrare, of daughter Kathryn DeLorean and son Zachary DeLorean.|
|3||Biography in: "The Scribner Encyclopedia of American Lives". Volume 7, 2003-2005, pages 139-142. Farmington Hills, MI: Thomson Gale, 2007.|
|4||Former son-in-law of Tom Harmon and Elyse Knox.|
|5||With the smashing success of the Ford Mustang, he saw an opportunity for Pontiac to build a sports car, not unlike the one he built with his own company. The Pontiac concept vehicle released in 1964 was the XP-833 (retronymed as the Banshee I) which had styling cues similar in shape to the third generation Chevrolet Corvette (C3) with the exception of the rear taillights, later shared with the second generation Pontiac Firebird. But to his dismay, General Motors top brass told him that the Banshee was a planned sales threat to the Corvette which was being redesigned for its third generation release for the 1968 model year. GM brass offered the Pontiac Motor Division a consolation prize where it received a corporate twin - they ended up build a Pontiac version of the Chevrolet Camaro, which became the Pontiac Firebird.|
|6||In 1964, got the bright idea to drop the Pontiac 389 cubic inch V-8 into the mid-size Tempest, thus was born the Pontiac G.T.O. which is often credited as the first muscle car.|
|7||His company collapsed in 1983, a year after he was arrested in Los Angeles and accused of conspiring to sell $24 million of cocaine. He was acquitted of the charges, but continuing legal entanglements kept him on the sidelines of the automotive world, and he declared bankruptcy in 1999.|
|8||Automotive innovator who left General Motors to develop a radically futuristic sports car, the DeLorean DMC-12, remembered popularly as the car modified for time travel in the Back to the Future (1985) movies.|
|9||Ex-brother-in-law of Kristin Harmon and Mark Harmon.|
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