Dennis Albaugh was born in 1950, in Ankeny, Iowa USA, and is a businessman, best known to the world for his fertilizer production company, which he started from scratch. He is now the richest persona in Iowa.
Have you ever wondered how rich Dennis Albaugh is, as of mid- 2017? According to authoritative sources, it has been estimated that Albaugh’s net worth is as high as $1.5 billion, an amount earned through his successful career, which started in the ‘70s, and now places him close to the richest 100 people in the US.
Dennis Albaugh Net Worth $1.5 Billion
Dennis grew up in his hometown on a family farm, but after finishING high school, he moved to Des Moines, where he enrolled at the Community College to study agricultural business. After graduation, Dennis found a job in fertilizer and seed sales, driving a truck all over the country and finding new customers. He had several setbacks, but hard work paid off eventually, and he started his own firm – Albaugh Inc. – focusing solely on fertilizer. He had put his house on a mortgage and invested all his savings, but had little success in the early years. Throughout the ‘80s he struggled to kick-start his firm, but then after a successful Small Business Administration loan for $100,000, he mixed up a new fertilizer formula and started selling his own product.
After making a sure business in the USA, he expanded his operations to Brazil and Argentina, which eventually increased his wealth. He then made another breakthrough with glyphosate, the main ingredient in Monsanto’s herbicide Roundup. He started mass production of the ingredient, which made him into the billionaire he now is.
Regarding his personal life, Dennis is married to Susan, but there are no details whether the couple has children or not.
Dennis is a well-known philanthropist; he made numerous donations to the community, including the ones made towards his alma mater. Dennis is also known for his Chevrolet convertible car collection and holds a car show once per year.
