John DeLorean Net Worth
John DeLorean net worth: John DeLorean was an American engineer and businessman who had a net worth of $50 million. John DeLorean was born in Detroit, Michigan in January 1925 and passed away in March 2005. He was an executive in the U.S. automotive industry who founded the DeLorean Motor Company and worked with General Motors. DeLorean earned a master's degree in automotive engineering from the Chrysler Institute and earned an MBA from the University of Michigan's Ross School of Business. He served in the military during World War II. DeLorean was responsible for designing iconic vehicles such as the DeLorean DMC-12 sports car, the Pontiac GTO muscle car, the Chevrolet Vega, the Pontiac Firebird, and the Pontiac Grand Prix. The DMC-12 was featured in the movie Back to the Future in 1985. DeLorean started his own company in 1973 after being the youngest division head in the history of GM. The DMC-12 was not available to consumers until 1981 which caused financial issues in the company. DeLorean was arrested in 1982 on charges of drug trafficking after a sting operation videotaped him agreeing to fund a cocaine shipment of 100 kg for $1.8 million which he claimed was to help DMC. He was found not guilty due to police entrapment but his reputation was already damaged. DeLorean later filed a patent for a raised monorail transport that was never built. John DeLorean passed away on March 19, 2005 at 80 years old from a stroke.