Last Updated: May 13, 2024
Info
Category:
Richest BusinessCEOs
Net Worth:
$600 Million
Birthdate:
Feb 15, 1958 (66 years old)
Gender:
Male
Profession:
Chairman and CEO of Boch enterprises, CEO of Subaru of New England
Nationality:
American
💰 Compare Ernie Boch Jr.'s Net Worth

What is Ernie Boch Jr.'s Net Worth?

Ernie Boch Jr. is an American businessman who has a net worth of $600 million. Ernie Boch Jr. inherited Boch Enterprises, an automobile sales and service business that was started by his grandfather, Andrew Boch. Andrew Boch launched what became an empire in 1945 when he purchased the Nash Motors franchise in Norwood, Massachusetts. More details on this empire in a a moment. Ernie's father, Ernie Boch Sr., is widely credited with inventing of the "Automile" concept, where many car dealerships were located in the same area, almost like a shopping center. His father was famous in Massachusetts for appearing in his own commercials, which featured his catchphrase "Come on down!"

Early Life

Earnest Alexander Boch Jr. was born on February 15, 1958, to Earnest Boch Sr. and Barbara Ann Boch (née Lyons). His mother was working at New England Merchants National Bank in the early 1950s when she met a local businessman named Ernie Boch. They began dating and soon married. They eventually had four children: Ernie Jr., Donna, Karen, and Beth Joyce.

Boch Automotive

In 1945, Ernie Jr.'s grandfather, Andrew Boch, dropped out of his junior year in high school in 1943 and enlisted in the US Army. In 1945, after WW2 ended and he was discharged, Andrew returned to Norwood, MA, where he purchased a Nash/Rambler car franchise. Over time, he grew it into the best-selling Rambler dealership in America.

Andrew's son Ernie eventually took the reigns and turned the thriving business into an empire. Ernie also starred in the company's commercials, with his perfect Boston accent, often performing memorable stunts, like smashing windshields because he was "smashing prices." He ended commercials with what became his trademark catchphrase: "Come on down!":

Automile & Oil Crisis

Ernie Sr.'s major innovation was the concept of the "Automile." Put very simply, he invented the concept of having multiple car dealerships along one stretch so people could shop for cars as if they were going to the mall. The very concept that you now see in almost every major city in the world today.

In the 1970s, Ernie Sr. made the then-controversial decision to add Japanese car makers to his umbrella of dealerships, specifically Subaru and Toyota. Locals were not impressed with the foreign-made cars until the oil crisis hit just a few years later. Prior to the oil crisis, American-made cars absolutely dominated the US market. The cars were large and not fuel-efficient. The Japanese-made cars, by comparison, were tiny and very fuel-efficient. Foreign made cars soon were as much as 50% of the US market, and Boch Enterprises was a pioneer. He would later add Honda, Kia, and Mitsubishi dealerships, AND his connections to the manufacturers supplied dozens of other local Subaru, Toyota, and Honda dealerships that popped up over time.

Boch Enterprises

Ernie Sr. eventually grew the family business into what was named "Boch Enterprises." In addition to dozens of car dealerships, Boch Enterprise grew to own nearly 20 companies, including Boch Broadcasting, which operated WCOD-FM, WXTK-FM, and WTWV-FM.

Ernie Boch Sr. died in 2003. He left behind four children, including Ernie Boch Jr.

Ernie Boch Jr.

Ernie Jr. began working in the family business when he was 13. He attended Berklee College of Music, and briefly toured with a few bands, but ultimately decided not to pursue a music career professionally, instead opting to join the family business full-time. He took over the empire in 2003 upon his father's death. Ernie Jr. expanded the business even further, selling some franchises and adding the Ferrari and Maserati brands.

In October 2015, Ernie Jr. sold five of the family's dealerships while personally retaining the Ferrari and Maserati dealerships. The sold dealerships continued to operate under the "Boch" name until late 2023, when they were re-branded under the "Nucar" umbrella. He continues to serve as President and CEO of Subaru of New England.

Getty Images

Music Drives Us & Philanthropy

A lifelong music lover and musician, Ernie Jr. is the founder of a charity called Music Drives Us. The charity raises funds for music education, awareness, and preservation, in addition to various other humanitarian projects.

In 2005, he was added to Berklee College of Music's board of trustees. A position he no longer holds. He continues to perform music, primarily with his band Ernie and the Automatics.

In January 2021, Ernie Jr. made an unsolicited $1 million donation to Dave Portnoy's Barstool Fund, which supported small businesses struggling amid the COVID pandemic.

Private Jet & Car Collection

Ernie owns a number of private jets, including a 2005 Citation Sovereign, which he bought for $15 million and can fly himself. When he travels internationally, he leases a Gulfstream GV, a Gulfstream G550, or a Bombardier Global.

As the owner of an empire of car dealerships, it's perhaps not surprising that Ernie has amassed an impressive car collection. He bought his first car when he was 16 from the used-car department at his family's Toyota dealership. The car was a 1971 Volkswagen Beetle in British racing green. As the owner of one of the country's largest Subaru dealerships, it is also perhaps not surprising that his primary car is a Subaru, specifically a Subaru Forester. But it's not a standard Forester. He reportedly spent $100,000 stretching to stretch-limo size with three plasma TVs and two DVD players.

Outside of his Subaru, Ernie Jr. owns an extremely impressive collection of rare vintage cars, especially Bentleys and Ferraris. His collection also includes a 1970 Ferrari that was previously owned by Frank Sinatra and a fiberglass replica of the Batmobile, which can shoot flames from the exhaust pipe. Some of his other notable cars include a 1965 Ferrari 330 GT 2+2, a 1979 Ferrari 512 BB and a Ferrari Roma.

Massachusetts Mansion

Ernie's primary home is a mansion in Norwood, Massachusetts. Today his property is nearly 8 acres but he originally bought just two acres in the 1990s for $430,000. His two closes neighbors constantly complained about his parties, so he bought their houses for $700k a piece and tore them down. Over the next two decades he bought the 17 houses that surrounded his property, one-by-one. He then surrounded the property, which is in the middle of an otherwise-normal suburban neighborhood, with tall hedges. He has reportedly spent $100 million on home acquisitions and property development at the estate. The primary mansion is 22,000-square-feet. One of the structures is a 40-car garage salon.

Ernie also owns a 200-acre property in Vermont, which he purchased for $7.1 million and a condo on the 43rd floor of One Dalton in Boston, which he bought for $5.52 million in 2020.

Upon his father's death in 2003, Ernie inherited the family's 15,000-square-foot mansion in Vineyard Haven, Massachusetts. He demolished the former structure, which had fallen into disrepair, and planned to convert the property into a bird sanctuary which would be open to the public. This has not happened, as of this writing, and the property now belongs to his siblings.

Nevis Island Estate

Sometime around 2006, Ernie bought property on the Caribbean island of Nevis. He commissioned a Boston-based designer to build what became a 4,200-square-foot home in a British Colonial style. The home is part of the Four Seasons Resorts Estates compound, which, after paying the annual $40,000 membership fee, grants owners access to the Four Seasons Hotel's amenities and maintenance. Ernie listed the home for sale in 2016 for $7.2 million. Here is a video tour:

All net worths are calculated using data drawn from public sources. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. We welcome all corrections and feedback using the button below.
Did we make a mistake?
Submit a correction suggestion and help us fix it!
Submit a Correction