Forrest Mars Jr.
Forrest Mars Jr. | |
|---|---|
| Born | 16 August 1931 Oak Park, Illinois, U.S. |
| Died | 26 July 2016 (aged 84) Seattle, Washington, U.S. |
| Occupation | Businessman |
| Years active | 1959–2006 |
| Known for | Co-president of Mars Inc. |
Forrest Edward Mars Jr. (August 16, 1931 – July 26, 2016) was a prominent American businessman and heir, the eldest child of Audrey Ruth (Meyer) and Forrest Mars Sr., as well as the grandson of Franklin Clarence Mars, the founder of Mars Inc.. He held the position of co-president at the confectionery corporation from 1975 until 1999.
In March 2015, Forbes valued his net worth at $26.8 billion, reflecting an increase from $11 billion recorded in March 2010. Bloomberg ranked him as the world’s 31st wealthiest individual in October 2012, estimating his fortune at $20.1 billion.
Early life
Mars completed his education at the Hotchkiss School in 1949 before attending Yale University. He also served as a finance officer during his tenure with the U.S. Army.
Career
Starting his career at Mars Inc. in 1959 as a financial officer, Mars quickly progressed to become General Manager of a newly established factory in the Netherlands and later took on the role of Managing Director for Mars France in 1966. Upon returning to the United States in 1970, he was named Group Vice President. In 1975, he and his brother John F. Mars were appointed Co-Presidents, under whose leadership the company experienced substantial expansion. Although he retired in 1999, Mars remained a member of the Board until 2006.
Public activities
Mars owned the expansive Diamond Cross Ranch, covering 82,000 acres along Montana’s Tongue River in the northern Powder River Basin. He actively resisted development efforts on this property, which is situated within one of the country’s most resource-rich coal and natural gas regions. Despite energy companies holding leases for oil and gas extraction on his land, Mars expressed concerns over the extensive water usage required by such operations, which conflicted with the ranch’s water needs.
Together with his former wife, he supported the Colonial Williamsburg Foundation for nearly a quarter-century, notably funding the reconstruction of an eighteenth-century coffeehouse. They also contributed significantly to Fort Ticonderoga’s board; however, following a disagreement between Mrs. Mars and the Executive Director, she resigned and their financial backing ceased.
Wealth
In 2010, Forbes placed Mars as the 52nd wealthiest person worldwide, ranked him 26th among Americans, and identified him as Virginia’s richest individual.
Family
Mars was married to Virginia Cretella (born May 1951), with whom he had four daughters: Victoria B. Mars, Valerie Anne Mars, Pamela Diane Mars, and Marijke Elizabeth Mars. As of March 2018, each daughter’s estimated net worth was $5.9 billion. Following his divorce from Virginia in 1990, he wed Deborah Adair Clarke; this marriage ended in divorce in 2010.
Death
Mars passed away at age 84 on July 26, 2016, in Seattle, Washington, due to complications following a heart attack. He was approaching his 85th birthday on August 16 that year.