Rank #1531
Herb Chambers
Net worth $2.8B
Car dealerships · United States
- Born
- Jan 01, 1942
- Age
- 84
- Source
- Car dealerships
- Residence
- Boston, Massachusetts
- Citizenship
- United States
- Marital status
- Single
- Children
- 0
- Education
Net worth over time
Biography
- Herb Chambers made his fortune as a major New England auto retailer, with 60 dealerships at the company's peak. He sold all but one of his stores to Asbury Automotive in July 2025.
- Chambers grew up in Boston's working-class Dorchester neighborhood, where he got his first job as a cart collector at the local supermarket.
- He dropped out of high school during his senior year and joined the U.S. Navy.
- After returning, he borrowed $500 from his mother to start his first company, a copy distributor, which he sold for $80 million in 1983.
- Chambers then stumbled into the car sales business, purchasing a Cadillac dealership that had given him poor service.
- An avowed car fanatic, Chambers owns vintage Ferraris and a Shelby Cobra.