Rank #1638
William Young
Net worth $2.6B
Plastics · United States
- Born
- Jan 01, 1941
- Age
- 85
- Source
- Plastics
- Residence
- Ypsilanti, Michigan
- Citizenship
- United States
- Marital status
- Married
- Children
- 4
- Education
- Bachelor of Science in Engineering, University of Detroit Mercy
Net worth over time
Biography
- William Young is CEO of plastic container maker Plastipak, which does some $3.7 billion in annual sales.
- Young and his father founded Plastipak in 1967, shortly after he graduated from the University of Detroit Mercy with an engineering degree
- After six years of running the business, the duo sold the majority to Beatrice Foods for an undisclosed amount.
- In 1982, the family bought back Plastipak. Three decades later, they sold a minority stake to a division of Goldman Sachs. They bought out Goldman by 2020.
- Plastipak holds over 500 U.S. patents for package design and manufacturing processes.
- Plastipak manufactures plastic packaging for companies such as Procter & Gamble, Pepsi and Kraft Foods.