John Richard Simplot, a notable American entrepreneur and billionaire, was renowned for his significant contributions to the agriculture and food industries. Born on January 9, 1909, in Dubuque, Iowa, and passing away on May 25, 2008, at the age of 99, Simplot’s innovative approaches in agriculture helped him amass a net worth of $3.7 billion, making him one of America’s richest individuals and the wealthiest person in Idaho at the time of his death. Simplot Net Worth
Early Life
Simplot was the third of six children born to Dorothy and Charles Simplot. The family relocated to Idaho’s Magic Valley a year after his birth, a move that would mark the beginning of Simplot’s future agricultural ventures. He left school at the age of 14 to work on a farm near Declo, Idaho, setting the stage for his lifelong career in agriculture.
Business Ventures
J.R. Simplot Company
In 1929, while still working on a farm, Simplot founded what would become the J.R. Simplot Company. This company initially focused on agriculture but soon expanded into food processing, becoming a key supplier of dehydrated onions and potatoes during World War II. By the 1950s, it was the largest shipper of fresh potatoes in the U.S. The company’s most significant breakthrough came in the early 1970s when it became the primary supplier of frozen French fries to McDonald’s, which propelled its growth exponentially. The J.R. Simplot Company continued to dominate the supply of French fries to McDonald’s well into the 2000s and expanded its operations into fertilizer production and other agricultural products.
Simplot retired as president in 1973 but remained active in the company, serving as chairman of the board until 1994 and then as chairman emeritus until his death.
Other Ventures
Beyond his company, Simplot invested in several other business ventures, including financing the Brundage Mountain ski area and providing startup capital to Micron Technology in the 1980s, a move that saw him owning 20% of the company by 1994. He also invested in Remington Oil and other industries, demonstrating a diverse investment portfolio.
Personal Life
Simplot married Ruby Rosevear in 1931, and they had four children: Richard, Don, Scott, and Gay. The marriage ended in divorce in 1960. Later, Simplot married Esther Becker in 1972, with whom he remained until his death. The couple lived in a hilltop home in Boise, which was donated to the state of Idaho in 2004 to serve as a governor’s mansion. Afterwards, they resided in the Grove Hotel in downtown Boise.
Death and Legacy
Simplot passed away from pneumonia on May 25, 2008, in Boise. He left behind a legacy of innovation in agricultural techniques and food processing, significantly impacting the food industry and the economic landscape of Idaho. His contributions to agriculture and his philanthropic efforts in education and community projects have left an indelible mark on American industry and culture
