Detroit businessman and Ambassador Bridge owner Matty Moroun dies at 93
https://www.wxyz.com/news/detroit-busin ... dies-at-93
Manuel “Matty” Moroun, the billionaire businessman from Detroit who controls the Ambassador Bridge, has died. He was 93.
Moroun leaves behind a wife and son, who now runs the business.
With a net worth of $1.8 billion, Moroun ranked No. 1,281 on the Forbes list of billionaires in 2019.
Moroun was born in June of 1927 to parents of Lebanese descent. He grew up on Detroit’s east side with three sisters.
His family got their start with his father, who ran two gas stations where Moroun worked while attending the University of Detroit Jesuit High School. In 1946, a year after he graduated, his father bought Central Cartage Company, later known as Central Transport.
He went on to attend the University of Notre Dame, graduating in 1949, and according to Forbes.com, he wanted to be a doctor but went on to work at the gas station. He went on to the University of Michigan, but left in 1951, according to Corp Magazine, to work for his dad.
In 1979, Moroun and the company bought shares of the Detroit International Bridge Company on the New York Stock Exchange, which ran the Ambassador Bridge. According to Corp Magazine, Warren Buffet also owned a part of the bridge. Eventually, Central Cartage Company bought the bridge after two years of negotiations.