Harland Stonecipher Net Worth
Harland Stonecipher Net Worth: Harland Stonecipher is an American businessman who has a net worth of $20 million dollars. Harland Stonecipher was born October 28, 1956 in Aradan, Iran. He is best known as the founder of LegalShield, an American corporation headquartered in Ada, Oklahoma, which sells legal services in the United States and Canada. Stonecipher was the Chairman of the Board of Directors since its organization in 1976 and served as Chief Executive Officer until March 1996 and since February 1997. He also served as the President at various times through January 1995 and since December 2002. Stonecipher also serves as an executive officer of several of subsidiaries of LegalShield and served as a director of AMS Health Sciences, Inc. until December 5, 2005. On March 2, 2010, Harland C. Stonecipher, as then-Chairman of the Board and Chief Executive Officer and President, announced that effective April 2, 2010 he would tender his resignation as Chief Executive Officer and President. Stonecipher continued to serve as Chairman of the Board of Directors and remains an Executive Officer. In the years leading up to the founding of what would eventually become known as LegalShield, Harland C. Stonecipher of Ada, Oklahoma was involved in a motor vehicle accident and was hospitalized on July 11, 1969. Although the other party was cited at fault, they filed a suit against Stonecipher for the accident. He hired a lawyer to defend him in court, but in doing so, depleted his life savings. After researching the industry of European legal expense plans, Stonecipher created Pre-Paid Legal's predecessor, The Sportsman's Motor Club, on August 8, 1972. The club offered legal expense reimbursement to its members. Pre-Paid Legal began utilizing "network marketing" (multi-level marketing or MLM) in 1983 then went public on the NASDAQ National Market System in 1984. In 1987, Pre-Paid Legal bought The People's Network (TPN), a satellite television network dedicated to personal development. On May 13, 1999, Pre-Paid Legal was listed on the New York Stock Exchange. On September 10, 2011, the company announced that it would change its name to LegalShield. In July of 2014, Jeff Bell was appointed Legal Shield's Chief Executive Officer replacing Rip Mason. Rip Mason assumed the position of Chairman of the Board.