Lee Iacocca Net Worth
Lee Iacocca net worth: Lee Iacocca is an American businessman who has a net worth of $100 million dollars. Lee Iacocca was born in Allentown, Pennsylvania, and went on to graduate from LeHigh University with a degree in Industrial Engineering. From there, he went on to earn a degree from Princeton University as a Wallace Memorial Fellow. He began his professional career as an engineer at Ford, but ultimately found his calling in the sales department. He rose through the ranks relatively quickly at Ford. He was hired in 1946, and by 1960 he'd become the Vice President and General Manager of the Ford Division. In 1965, he became Vice President of the Car and Truck Group. In 1967, he was named Executive Vice President. Three years later, he became President of Ford. During his years with Ford, the company experienced massive growth, and he was part of the development of such popular Ford cars as the Ford Mustang, the Ford Escort, and the Lincoln Continental Mark III. He was also responsible for the Ford Pinto, unfortunately, which had a severe design flaw. He clashed with Henry Ford II and was eventually fired in 1978. He took over at Chrysler, which was struggling severely, and turned the company around completely. Lee Iacocca was also famous for being one of the first CEOs to take just $1 a year in salary in exchange for a higher equity compensation. In 1986, his salary was $1 but his total compensation was $20.6 million He retired in 1992. He has since focused on writing, philanthropy, and politics.