As one of the most talked-about figures, Jim Crane has built a significant fortune. In this article, we dive deep into the assets and career highlights.
What is Jim Crane's net worth?
In 2006 Eagle paid a $4 million settlement to the US Government to settle allegations of fraud, price fixing, profiteering and paying kickbacks related to the Iraq war. The company had allegedly been charging the government fake "war risk surcharges" totaling over $1 million.
In 2007 EGL merged with CEVA Logistics. At the time of the merger, Crane owned 17.6% of the company's shares. After receiving a windfall in the several hundred million dollar range, he founded founded Crane Capital Group.
In 1984 he borrowed $10,000 from his sister to found Eagle USA Airfreight, which would eventually morph into Eagle Global Logistics. Eagle Global went public in 1995 and at its peak had hundreds of millions in annual revenue and more than 100 thousand employees. In the years after going public, Eagle was accused of discriminating against black, Hispanic and female employees by the Equal Employment Opportunity Commission. The EEOC's alleged that Crane didn't want to hire black people because he believed they would be discriminated against by his other employees who were racist. The report included an allegation that Crane himself once stated:
The issues were resolved in 2001 with a $9 million settlement.
In addition to owning CCG, he is also a shareholder in Western Gas Holdings and Crane Worldwide Logistics, LLC, and he is also the director of Fort Dearborn Life Insurance Company and Champion Energy Holdings, LLC. He is also the top-ranked CEO golf player in the nation, and owns The Floridian National Golf Club. Golf Digest ranked Jim Crane as the #1 CEO golfer.
Jim Crane is an American businessman who has a net worth of $2.5 billion. Jim Crane earned his first fortune in the logistics industry. He then earned a second fortune as the owner of the Houston Astros baseball team.
Born in Dellwood, Missouri, Jim Crane, also known as James Robert Crane, went on to graduate from Central Missouri State University with a degree in Industrial Safety. He began working in the insurance business immediately after finishing school. He relocated to Houston, Texas in the early 80s to further his career.
"Once you hire blacks, you can never fire them."
In summary, the total wealth of Jim Crane reflects strategic moves.
Disclaimer: All net worth figures are estimates based on public data.
