Jerry Moyes
Jerry Moyes | |
|---|---|
| Born | United States |
| Occupation(s) | Entrepreneur, business executive |
| Known for | Founder, chairman, and former CEO of Swift Transportation; owner of Swift Air; owner of Arizona Coyotes (2006–2009) |
| Notable work | Swift Transportation, Swift Air, Arizona Coyotes ownership |
Jerry Moyes is an American entrepreneur known for founding, chairing, and previously serving as CEO of Swift Transportation, a leading trucking firm headquartered in Phoenix and among the largest in the United States.[1][2] In addition to Swift Transportation, Moyes owns the charter airline Swift Air and operates Swift Aviation, a fixed-base operator located at Phoenix Sky Harbor International Airport. His business interests also include SME Steel Contractors Inc., a steel erection company based in Utah, along with Central Freight Lines, an LTL freight carrier headquartered in Texas.[3] Furthermore, Moyes has invested in Arizona sports franchises, notably owning the Arizona Coyotes between 2006 and 2009.
Personal life
Moyes is an alumnus of Weber State College, where he studied at the John B. Goddard School of Business & Economics. He has also held the position of president within the Arizona Motor Transport Association.[4]
Together with his wife Vickie, Moyes is a father to ten children and grandfather to ten grandchildren.[5]
In 2017, Moyes stepped down as Swift’s CEO, assuming the role of CEO emeritus while maintaining a seat on the board of directors. He resides privately in Glendale, Arizona, reportedly owning the most valuable residence in the city.[6][7]
Business
Jerry Moyes’ father, Carl Moyes, began his career in trucking at C.R. England before establishing his own trucking enterprise. In 1966, Jerry launched his own trucking company named Common Market in Phoenix, initially operating with one truck borrowed from his father. The business started by transporting produce and later broadened its services to include steel imports between California and Arizona.
By 1972, Common Market merged with Swift Transportation, adopting the Swift brand and expanding its operational reach. Although generating around $250 million in revenue by 1990, Swift remained indebted due to reinvestment aimed at growth. That same year marked Swift’s initial public offering which raised $20 million. Subsequently, the company acquired multiple competitors such as East-West Transportation and Cardinal Freight, solidifying its status as the largest trucking company in the United States. By the year 2000, Swift had grown into a billion-dollar corporation.
In 2017, Swift combined forces with Knight Transportation to create Knight-Swift, now ranked as the seventh-largest trucking company worldwide with annual revenues reaching $7.5 billion. This merged entity provides comprehensive hauling and logistics solutions across North America including the U.S., Canada, and Mexico.
Arizona Coyotes
Moyes initially joined Steve Ellman's consortium as a minority investor when they purchased the NHL's Arizona Coyotes in 2001. By 2006, Moyes had acquired majority control, maintaining Wayne Gretzky as a co-owner and head of hockey operations. He also committed resources to rebranding the World Gym locations in Arizona under the Coyotes Athletic Centers banner.
Although he held ownership, Moyes reportedly lacked enthusiasm for hockey and was hesitant about owning the franchise. After a dispute with Ellman related to real estate matters, Moyes took full control but aimed to divest the team due to persistent financial deficits stemming from the franchise’s move from Winnipeg. He frequently conflicted with NHL officials over league involvement and financial support.
In 2009, Moyes initiated Chapter 11 bankruptcy protection for the Coyotes and announced intentions to sell the club to Jim Balsillie, who planned to relocate it to Hamilton, Ontario. The NHL contested Moyes’ right to file for bankruptcy based on prior agreements limiting such actions and sought to assume control of the team.
The bankruptcy court declined both Balsillie's and the NHL’s original bids because of legal complexities but permitted revised offers that included creditor concessions for Moyes and Gretzky. Eventually, Moyes sold the franchise to the NHL in November 2009 for $140 million, concluding his ownership amid substantial financial setbacks.
Arizona Sting
Moyes held majority ownership of the Arizona Sting in the National Lacrosse League through Steve Ellman’s investment firm, where he was a partner. In 2006, he gained full ownership by acquiring the Glendale Arena and its related assets. Moyes attempted to sell the team in 2007; however, no sale materialized before the league ceased operations in 2008.
Arizona Diamondbacks
During the mid-1990s, Moyes contributed $5 million as an original investor in the Phoenix expansion franchise spearheaded by Joe Garagiola Sr.. He continues to hold a minority stake in the Arizona Diamondbacks, owning one twenty-fourth of the club.
Phoenix Suns
Following his involvement with the Diamondbacks, Moyes established a connection with owner Jerry Colangelo and acquired a minority interest in the Phoenix Suns, thereby broadening his investments within Arizona’s professional sports sector.
Arizona Cardinals
In the early 2000s, Moyes alongside Steve Ellman proposed purchasing 195 acres intended for what became the University of Phoenix Stadium, home of the Arizona Cardinals. Their plan included donating 30 acres for stadium development and creating adjacent infrastructure such as parking facilities and youth sports fields, aiming to finance without public expenditure. Nevertheless, Glendale ultimately provided public funding for the stadium project.
Political involvement
Moyes and his wife contributed a total of $101,000 toward Donald Trump's 2020 presidential campaign.
External links
- ↑ "It's Official And Knight-Swift Is The Largest Trucking Company In The US". Retrieved 18 June 2024.
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