What was H. Wayne Huizenga’s Net Worth?
H. Wayne Huizenga, an American businessman, entrepreneur, and sports team owner, passed away in 2018 with a net worth of $2.8 billion. He was a rare entrepreneur who launched three companies that became Fortune 500 enterprises. His success began with Waste Management, which he grew from a single garbage truck to the largest waste disposal company in the US by 1983. He then repeated this success with Blockbuster Video, growing it from a handful of stores in 1987 to the leading movie rental chain in the US by 1994. Huizenga also started and acquired a series of auto dealerships, eventually forming AutoNation, the nation’s largest automotive dealer and a Fortune 500 company. Additionally, Huizenga owned the NFL’s Miami Dolphins, the NHL’s Florida Panthers, and MLB’s Miami Marlins. He passed away at the age of 80.
Early Life
Harry Wayne Huizenga was born on December 29, 1937 in Evergreen Park, Illinois. His grandfather moved to the United States from the Netherlands. He grew up in a Dutch community in Chicago and attended Chicago Christian High School until his sophomore year when the family moved to Fort Lauderdale, Florida. He then attended Pine Crest School where he graduated in 1956.
After graduating, he moved back to Chicago and enrolled at Calvin College. After three semesters, he dropped out of school and worked a variety of low-wage jobs.
From Garbage Hauling to Waste Management Giant
After returning to Fort Lauderdale, H. Wayne Huizenga founded Southern Sanitation Service, a garbage hauling business that he grew over the next ten years into Waste Management Inc. By acquiring smaller trash haulers, Huizenga turned the company into one of the largest waste-disposal companies in the U.S. by the 1980s. He left the company in 1984.
Huizenga’s Success in Acquiring and Growing Companies
Throughout his career, H. Wayne Huizenga repeatedly bought and expanded companies, demonstrating his prowess in business. In 1987, he acquired several Blockbuster Video stores and within ten years, the company became the top movie-rental chain in the US. Huizenga also purchased auto dealerships and formed AutoNation in 1996, which grew to become the largest automotive dealer in the country.
H. Wayne Huizenga’s Business Ventures
H. Wayne Huizenga was a successful businessman with a diverse portfolio of ventures. He owned multiple hotel groups, including Boca Resorts, which he sold for $1.25 billion. He also became the majority stakeholder in Swisher Hygiene in 2010.
Huizenga had a strong interest in professional athletics and co-owned several teams, including the Florida Marlins and the Florida Panthers. He also purchased the Miami Dolphins and the stadium in which they played. He sold 50% of the team and stadium to Stephen M. Ross in 2008 and an additional 45% in 2009.
During the mid-1990s, Huizenga invested heavily in the Florida Marlins, spending over $89 million on free agents. His investment paid off when the team won the World Series in 1997. He sold the team in 1998 but retained ownership of the stadium.
In 2001, he sold the Florida Panthers for around $100 million, nearly tripling the team’s value since his initial investment.
H. Wayne Huizenga’s Philanthropy and Awards
H. Wayne Huizenga was not only involved in business but also contributed to philanthropy. He funded the H. Wayne Huizenga School of Business and Entrepreneurship at the Nova Southern University in Florida and donated substantially to the Pine Crest School, a private preparatory school.
During his career, Huizenga received numerous awards and accolades. In 1991, he received the Golden Plate Award of the American Academy of Achievement. He was named a Distinguished American by the Horatio Alger Association in 1992 for funding many scholarships throughout Florida. In 2005, he was named the Ernst & Young World Entrepreneur of the Year. He was also a recipient of the Norman Vincent Peale Award in 2008 for his donations to the Horatio Alger Association.
Family Life
H. Wayne Huizenga was married twice. He married his high school sweetheart, Joyce, in 1960 and had two children together before divorcing in 1966. In 1972, he married Martha, who had worked for one of his businesses. Huizenga adopted Martha’s children, Robert Ray and Pamela, and they remained married until Martha’s death in 2017 after a long battle with cancer.
Huizenga passed away in March of 2018 at his home in Fort Lauderdale, Florida, after battling cancer at the age of 80.
