George Joseph net worth
George Joseph Net Worth: George Joseph is an American businessman with a net worth of $1.4 billion. He made his fortune as the founder of the Mercury Insurance Group in Los Angeles. He was born on September 11, 1921, in Beckley, West Virginia, to a family of Lebanese immigrants.
To make ends meet, his father worked a variety of jobs, from coal mining to warehousing. As a young man during World War II, George Joseph served as a pilot in the conflict, helping the Air Force complete some 50 missions. After the war, he entered Harvard University with degrees in mathematics and physics. After graduating, Joseph managed to land a job as a systems analyst at Western Life Insurance in Los Angeles. Still, he was active at night, selling the company’s insurance policies door-to-door. So he realized that people wanted to know about property and auto insurance other than life insurance, and suggested that Western expand its offerings. After his proposal was publicly rejected, he left the company in 1954 to start his own insurance company, Mercury Insurance Group. As a Mercury leader, he successfully combined personal insurance policies with auto, accident and property insurance. It may seem strange today, but it was a time when the auto insurance business wasn’t as flexible as it is today. Owners pay the same despite driving experience or records. Mercury Insurance enters the auto insurance market at different rates based on the policyholder’s experience and driving record. Now, the company has $4 billion in assets and more than 4,000 agents work for the company across the United States. George Joseph currently serves as Chairman of the Board and Gabe Tirador serves as Mercury’s Chief Executive Officer.
