How rich is Dennis Washington?
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Dennis Washington information
Dennis Washington information
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Dennis Washington Net Worth, Biography, Wiki 2017-2016
Dennis R. Washington was born on 27 July 1934, in Spokane, Washington State USA, and is an industrialist and philanthropist, known for owning numerous privately held companies known as the Washington Companies. He also owns companies in Canada called the Seaspan Marine Corporation. All of his efforts have helped put his net worth to where it is today.
How rich is Dennis Washington? As of early-2017, sources estimate a net worth that is at $6.2 billion, mostly earned through the success of his multiple companies; he is ranked by Forbes as the 75th richest person in America. His success has helped him diversify and expand to numerous industries, and all of these achievements ensured the position of his wealth.
Dennis Washington Net Worth $6.2 billion
After matriculating from high school, Dennis started working in the construction industry, in Alaska and Montana. In 1964, he took a $30,000 loan and a bulldozer to start a business, creating Washington Construction, concentrating on building highways which saw it become the largest contractor in Montana within five years. In the 1970s, he expanded to dam and mining construction, then in 1986 he acquired a molybdenum and copper mine which he reopened; the mine would become very profitable and helped his net worth increase significantly.
Thanks to the success of the mine, Dennis expanded to other industries as well, including coastal shipping, real estate, aviation, marine services, and railroads. In 1996, Washington Construction acquired the global engineering and construction company Morrison-Knudsen Corporation, which helped create Washington Group International. All of Washington’s companies are now part of the Washington Companies’ holdings.
For the businesses included in Washington Companies, Seaspan Marine Corporation includes three shipyards, a ferry business, and a tug and barge transportation company. They serve domestic and international clients though mainly provide their services to the Pacific Northwest. The Montana Rail Link – or MRL – operates in the United States as a Class II railroad on a track originally built by Northern Pacific Railway which runs mainly in Montana and covers over 100 stations and 900 miles, employing around 1,000 personnel. Aviation Partners Inc. or API specializes in winglet systems which improves the efficiency of aircraft. The company is based in Seattle and was founded in 1991. Montana Resources LLP is a mining company with around 350 employees, and operates the copper and molybdenum Continental Mine, the only one active in mining operations in Butte, Montana. In 2006, an estimated 364 million tons of ore reserves were reported as part of the remaining materials in the mine.
For his personal life, it is known that Dennis is married to Phyllis; they have two sons and the couple live in Missoula, Montana. Their son Kyle Washington is the co-chairman of Seaspan Marine Corporation. Dennis is the owner of a large estate in Stuart Island, British Columbia, which includes a golf course and a luxury fishing lodge. He also has a yacht named “Attessa” which was featured in the film “Overboard”.
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