Home » Former Chrysler and Ford executive Dies: Lee Iacocca Biography, Wiki, Age, Family, Net Worth, Kids, Children, Bel Air House
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Former Chrysler and Ford executive Dies: Lee Iacocca Biography, Wiki, Age, Family, Net Worth, Kids, Children, Bel Air House

Lee Iacocca Biography

Lido Anthony “Lee” Iacocca was an American automobile executive best known for the development of Ford Mustang and Pinto cars, while at the Ford Motor Company in the 1960s, and then later for reviving the Chrysler Corporation as its CEO during the 1980s. He served as President and CEO of Chrysler from 1978 and additionally as chairman from 1979, until his retirement at the end of 1992. He was the only executive in modern times to preside over the operations of two of the Big Three automakers.
Iacocca authored or co-authored several books, including Iacocca: An Autobiography (with William Novak), and Where Have All the Leaders Gone? Portfolio named Iacocca the 18th-greatest American CEO of all time

Lee Iacocca Early life

Iacocca was born in Allentown, Pennsylvania, to Nicola Iacocca and Antonietta Perrotta, Italian immigrants (from San Marco dei Cavoti, Benevento) who had settled in Pennsylvania’s steel-production belt.

Lee Iacocca Age

He was 94 years old.

Lee Iacocca Children

He had 2 Daughters, Kathryn Iacocca, and Lia Iacocca,

Lee Iacocca Net worth

According to Wikipedia Lee Iacocca’s Net Worth is $100 Million

Lee Iacocca Parents

They operated a restaurant, Yocco’s Hot Dogs. He was said to have been christened with the unusual name “Lido” because he was conceived during his parents’ honeymoon in the Lido district in Venice. However, he denied this rumor in his autobiography, saying that is romantic but not true; his father went to Lido long before his marriage and was traveling with his future wife’s brother.

Lee Iacocca Education

Iacocca graduated with honors from Allentown High School in 1942, and Lehigh University in neighboring Bethlehem, Pennsylvania, with a degree in industrial engineering. He was a member of Tau Beta Pi, the engineering honor society, and an alumnus of Theta Chi Fraternity.
After graduating from Lehigh, he won the Wallace Memorial Fellowship and went to Princeton University, where he took his electives in politics and plastics. He then began a career at the Ford Motor Company as an engineer.

Lee Iacocca Ford Career

Iacocca joined Ford Motor Company in August 1946. After a brief stint in engineering, he asked to be moved to sales and marketing, where his career flourished. While working in the Philadelphia district as assistant sales manager, Iacocca gained national recognition with his “56 for ’56” campaign, offering loans on 1956 model year cars with a 20% down payment and $56 in monthly payments for three years. His campaign went national, and Iacocca was called to the Dearborn headquarters, where he quickly moved up through the ranks. On November 10, 1960 Iacocca was named vice-president and general manager of the Ford Division; in January 1965 Ford’s vice-president, car and truck group; in 1967, executive vice-president; and president on December 10, 1970.

Lee Iacocca Chrysler Career

Iacocca was strongly courted by the Chrysler Corporation, at a time when the company appeared to be on the verge of going out of business and had just sold its loss-making Chrysler Europe division to Peugeot in an effort to generate cash because the company was losing millions already in North America. This was largely due to recalls of its Dodge Aspen and Plymouth Volare, both of which Iacocca later said should never have been built. Iacocca joined Chrysler and began rebuilding the entire company from the ground up and bringing in many former associates from his former company.

Lee Iacocca Books

In 1984, Iacocca co-authored (with William Novak) an autobiography, titled Iacocca: An Autobiography. It was the best selling non-fiction hardback book of 1984 and 1985 The book used heavy discounting which would become a trend among publishers in the 1980s. Iacocca donated the proceeds of the book’s sales to diabetes research.
In 1988, Iacocca co-authored (with Sonny Kleinfeld) Talking Straight, a book meant as a counterbalance to Akio Morita’s Made in Japan, a non-fiction book praising Japan’s post-war hard-working culture. Talking Straight praised the innovation and creativity of Americans.
On May 17, 2007, Simon & Schuster published Iacocca’s book, Where Have All the Leaders Gone?, co-written with Catherine Whitney. In the book, Iacocca writes:

Lee Iacocca Businesses

Iacocca partnered with producer Pierre Cossette to bring a production of The Will Rogers Follies to Branson, Missouri, in 1994. He also invested in Branson Hills, a 1,400-acre housing development.
In 1993, he had joined the board of MGM Grand, led by his friend Kirk Kerkorian. He started a merchant bank to fund ventures in the gaming industry, which he called “the fastest-growing business in the world”. In 1995, he sold his interests in several Indian gaming projects to Full House Resorts, a casino operator led by his friend Allen Paulson, becoming a major shareholder and later a member of the board of directors.
Iacocca joined the board of restaurant chain Koo Koo Roo in 1995. In 1998, he stepped up to serve as acting chairman of the troubled company and led it through a merger with Family Restaurants (owner of Chi-Chi’s and El Torito). He sat on the board of the merged company until stepping down in 1999.
In 1999, Iacocca became the head of EV Global Motors, a company formed to develop and market electric bikes with a top speed of 15 mph and a range of 20 miles between recharging at wall outlets.

Lee Iacocca Wives, Family

Spouse(s)
Mary McCleary
(m. 1956; died 1983)
Peggy Johnson
(m. 1986; annulled 1987)
Darrien Earle
(m. 1991; div. 1994)

Iacocca was married to Mary McCleary on September 29, 1956. They had two daughters. Mary Iacocca died from diabetes on May 15, 1983. Before her death, Iacocca became a strong advocate for better medical treatment of diabetes patients, who frequently faced debilitating and fatal complications, and he continued this work after her death.
Iacocca’s second marriage was to Peggy Johnson. They married on April 17, 1986, but in 1987, after nineteen months, Iacocca had the marriage annulled. He married for the third time in 1991 to Darrien Earle. They were divorced three years later.

Lee Iacocca Cause of Death

Iacocca resided in Bel Air, Los Angeles, California, during his later life. He died on July 2, 2019, at his home in Bel Air, at the age of 94. The cause was complications of Parkinson’s disease.

Lee Iacocca in Politics

In his 2007 book Where Have All the Leaders Gone, Iacocca described how he considered running for president in 1988 and was in the planning stages of a campaign with the slogan “I Like I”, before ultimately being talked out of it by his friend Tip O’Neill. Polls at the time confirmed that he had a realistic chance of winning.
Pennsylvania Governor Bob Casey discussed with Iacocca an appointment to the U.S. Senate in 1991 after the death of Senator John Heinz, but Iacocca declined.
Politically, Iacocca supported the Republican candidate George W. Bush in the 2000 presidential election. In the 2004 presidential election, however, he endorsed Bush’s opponent, Democrat John Kerry. In Michigan’s 2006 gubernatorial race, Iacocca appeared in televised political ads endorsing Republican candidate Dick DeVos, who lost. Iacocca endorsed New Mexico Governor Bill Richardson for President in the 2008 presidential election. In 2012, he endorsed Mitt Romney for President.
On December 3, 2007, Iacocca launched a website to encourage open dialogue about the challenges of contemporary society. He introduced topics such as health care costs, and the United States’ lag in developing alternative energy sources and hybrid vehicles. The site also promotes his book Where Have All the Leaders Gone. It provides an interactive means for users to rate presidential candidates by the qualities Iacocca believes they should possess: curiosity, creativity, communication, character, courage, conviction, charisma, competence and common sense.

Lee Iacocca Awards

In 1985, Iacocca received the S. Roger Horchow Award for Greatest Public Service by a Private Citizen, an award given out annually by Jefferson Awards.

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