J. Howard Marshall III Net Worth
J. Howard Marshall III net worth: J. Howard Marshall III is an American businessman who has a net worth of $20 million dollars. J. Howard Marshall, also known as James Howard Marshall III was born in Los Angeles, California in February of 1936.
Koch Industries: In 1974, Howard III and his brother E. Pierce were each given what amounted to 4% stakes in Koch Industries from their father, J. Howard Marshall II. Upon giving them the shares, their father purportedly told Pierce and Howard III "these are the crown jewels. Take care of them."
Koch Industries was founded by Fred C. Koch. Fred had four sons, Fred Jr., William, Charles and David.
In 1980, the four brothers began fighting over control of Koch Industries. James Howard Marshall III sided with Fred and William. Howard II and E. Pierce sided with Charles and David. In 1983, Charles and David proved victorious in the battle.
In the aftermath, Howard II demanded his son return the 4% stake in Koch that he had given to him as a gift in 1974. Howard III agreed to sell the stake back for $8 million. Today that 4% stake would be worth several billion dollars. Even still, the father was incensed that his son would dare to sell him the shares back and subsequently cut him out of his will.
After his father passed away, Howard Marshall III went after his brother, E. Pierce Marshall in court, claiming that his brother had stolen from him. A jury later ruled in favor of E. Pierce Marshall, and subsequently found J. Howard Marshall guilty of fraud. In 2002 a judge ordered J. Howard III to pay his brother $35 million in damages. At the time, Howard Marshall III claimed to have a net worth of $26 million. Even though the judgment was soon reduced to $11 million plus legal fees, he was still forced to declare bankruptcy in July 2002.
Anna Nicole Smith: James Howard Marshall II was famously married to model Anna Nicole Smith. Both Upon Marshall II's death, both J. Howard Marshall III and Anna Nicole Smith were denied access to his nearly $2 billion fortune.
J. Howard Marshall is currently the President and Owner of MDH Industries.
J. Howard Marshall III
|Net Worth:||$20 Million|
|Date of Birth:||Feb 6, 1936 (86 years old)|
|Nationality:||United States of America|