J. R. Simplot
From Wikipedia, the free encyclopedia
John Richard "Jack" Simplot (born January 4, 1909, in Dubuque, Iowa) is the founder of the J. R. Simplot Company, the largest supplier of french fries to McDonald's. In 2006 he was estimated to be the 80th richest person in America, with $3.2 billion. At 98, he is the oldest living billionaire on the Forbes 400 [1].
Jack Simplot moved to the Snake River valley of Idaho as a child and quit school in eighth grade, at age 14, and left home after fighting with his father. He then worked on a farm near Declo, getting into the potato and other vegetable processing business.
Contents |
[edit] J. R. Simplot Company
By World War II, the J. R. Simplot Company had become the largest shipper of fresh potatoes in the nation. By the early 1960s it was the primary supplier of french fries to McDonald's; by 2005 it supplied more than half of all french fries for the fast food chain. Simplot also produces fertilizers for agriculture.
Jack Simplot retired as president of his company in 1973, but has remained actively involved in the company.
Further enhancing his enormous wealth, J.R. Simplot provided startup capital in the early 1980s for the fledgling Micron Technology, a Boise-based manufacturer of computer memory chips. Additionally, he invested heavily in Remington Oil.
In 1961, Simplot financed the Brundage Mountain ski area near McCall, two hours north of Boise. The Simplot Company sold its 50% interest in Brundage in April 2006 to the longtime co-owner, the DeBoer family.
Jack Simplot currently lives with his wife Esther in the Grove Hotel building in downtown Boise, a few blocks from the company's headquarters. The couple donated their signature hilltop home, in Boise's north end, to the state of Idaho for use as a governor's mansion. The home will be known as "The Idaho House."
[edit] 2007 Accident
On January 1, 2007, while attending the Fiesta Bowl in Glendale, Arizona, with his wife, son, and Idaho Governor C. L. "Butch" Otter, Simplot fell from a motorized scooter and suffered a hematoma in his head. Simplot was taken to St. Joseph's Hospital and Medical Center in Phoenix, where he spent his 98th birthday[1]. Simplot returned to Idaho several days later for further rehabilitation. His prognosis is considered to be good[2].