Forrest Mars, Sr. Net Worth: $4 billion
Forrest Edward Mars, Sr. is an American business magnate and the mastermind behind the Mars candy empire as well as in introducing M&M’s and Uncle Ben’s Rice to the USA. He graduated at Yale University with a bachelor’s degree in industrial engineering. He was then married to Audrey Ruth Meyer and had three children: Forrest Jr., John, and Jacqueline. In 1984, Mars was inducted into the Junior Achievement U.S. Hall of Fame. Forrest Mars, Sr. passed away at the age of 95 in Miami, Florida in 1999 after having an estimated net worth of $4 billion.
How did Forrest Mars, Sr. make his money?
Forrest Mars, Sr. is the son of Frank C. Mars, founder of the candy company Mars, Inc. His parents divorced when he was a child. He reunited with his father after graduating college but had a disagreement about expanding their company abroad. Mars left the company to work in England and briefly worked at Nestlé and the Tobler Company. There he created the Maltesers and Mars bar. Upon his return to the United States, Mars founded a food business, Food Products Manufacturing. From there, he created the Uncle Ben’s Rice line and Pedigree, a gourmet pet food business. He later developed M&M’s while partnering with Bruce Murrie. In 1954, M&M’s introduced Peanut M&M’s. Mars took over his father’s company Mars, Inc. following the latter’s death and merged it with his own company in 1964.
In 1973, Mars retired from his company and handed Mars, Inc. over to his children. He later created Ethel M Chocolates, which was named after his mother, and was purchased by Mars, Inc. in 1988.