Manuel Moroun Net Worth is$1.5 Billion
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Date of Birth: Jun 5, 1927
Country: United States of America
Manuel Moroun net worth: Manuel Moroun's net worth is $1.5 billion dollars which makes him one of the richest people in Michigan. Born in Detroit, Michigan, Manuel Moroun graduated from the University of Notre Dame. Mr. Moroun is the Chief Executive Officer and the Chairman of CenTra, Inc. CenTra controls the Ambassador Bridge, which Mr. Moroun purchased from the former owners, the Bower Family, in the late 70s. The bridge is a busy border crossing between Canada and the United States. In addition to owning the bridge, Manuel Moroun also controls multiple shipping companies, including Central Transport International and Universal Truckload Services, Inc. He is currently involved in a nasty dispute with the State of Michigan, as the state plans to build a public bridge just two miles from his privately owned one. He is fighting to stop the development, as it has the potential to have a large and very negative effect on the profitability of his bridge.
Manuel "Matty" Moroun is an American businessman of Lebanese descent and the owner of CenTra, Inc., the holding company which controls the Ambassador Bridge. The latter is significant as it is the only private ownership of a border crossing between the United States and Canada. He bought the bridge from the Bower Family in 1979. It is now estimated to be worth between 1.5 and 3 billion dollars. CenTra, Inc., is also the controlling body of Central Transport International, an LTL trucking carrier. Moroun also has a controlling stake in Universal Truckload Services Inc., which is in itself a holding company for several over-the-road truck lines (Universal Am-Can Ltd., Mason Dixon Lines, Economy Transport, etc.)
Moroun attended the University of Detroit Jesuit High School, graduating in 1945.[citation needed]
A recent Forbes article listed him as the 321st richest American.
On 25 March 2010, it was announced that Moroun would sue the US and Canadian governments over the Detroit River International Crossing. He sought to block construction of the new bridge as it would compete with his own proposal for a second span of the Ambassador Bridge, which he would also own. Critics suggest that Moroun's opposition is fuelled by the prospect of lost profits from duty-free gasoline sales, which are exempt from about 60 cents per gallon in taxes even though the pump price to consumers is only a few cents lower.
In 2009, the Michigan Department of Transportation (MDOT) sued Moroun and the Detroit International Bridge Company for failing to comply with the terms of a contract to construct ramps connecting the Ambassador Bridge to nearby expressways as part of The Gateway Project. Wayne County Circuit Judge Prentis Edwards ruled in February 2010 that Moroun and the chief deputy of the Detroit International Bridge Co., Dan Stamper, were indeed in violation of the contract and ordered them to become in compliance. On 12 January 2012, Judge Edwards found both Moroun and St

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Manuel Moroun Latest News

Michigan court rejects Moroun bridge appeal

Lansing — The Michigan Court of Appeals on Tuesday rejected a lawsuit by Ambassador Bridge owner Manuel “Matty” Moroun seeking to block construction of the planned Gordie Howe International Bridge that will also connect Detroit and Windsor.
Posted: May 8, 2018, 11:11 am

Canada grants permit to Ambassador Bridge owner to build new bridge in Detroit

DETROIT -- Canada's transportation agency has given conditional approval to billionaire Manuel "Matty" Moroun's Detroit International Bridge Co. to build a long-sought new Detroit River bridge that would replace the aging Ambassador Bridge. The new bridge ...
Posted: September 7, 2017, 9:39 am

P.A.M. Transportation Services, Inc. Announces Filing of S-3 Shelf Registration Statement

Moroun, and 17,618 secondary shares of the Company’s common stock held by a member of our Board of Directors, Manuel J. Moroun, each of whom may offer his registered shares for resale to the public from time to time in one or more offerings. The ...
Posted: March 29, 2018, 5:00 pm
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