• Friday, May 24, 2024
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Meet George,102, world’s oldest billionaire worth $1.7 bn

Meet George,102, world’s oldest billionaire worth $1.7 bn

George Joseph, aged 102, is the world’s oldest billionaire according to the 2024 Forbes Billionaire List.

He is known for his achievements in the insurance sector and is the founder of Mercury General Corporation, headquartered in Los Angeles.

Born in 1921 in Beckley, West Virginia, to Lebanese immigrants, George Joseph’s journey to becoming the world’s oldest billionaire began with humble roots. 

Graduating from Harvard University in 1949 with majors in Mathematics and Physics, his early years were shaped by the challenges of the Great Depression.

During World War II, Joseph was a flight navigator in the US Army Air Corps, completing 50 missions over North Africa and Italy. 

Following the war, he started his professional career, as a system analyst at Occidental Life Insurance Company in Los Angeles. To supplement his income, he sold life insurance policies door-to-door at night.

George Joseph founded Mercury General in 1962, a distinguished insurance provider headquartered in Los Angeles. 

Starting with a modest initial capital of $2 million, he transformed the company into a powerhouse with annual revenues reaching $4.6 billion. 

Joseph’s innovative strategy of offering cut-rate deals tailored for safer-than-average drivers propelled Mercury General to success.

With a 35% stake in the publicly traded Mercury General, Joseph’s entrepreneurial acumen has solidified his status as a billionaire.

 The company offers a range of insurance products, including automotive, home, and fire insurance. 

According to Forbes, his net worth is $1.7 bn as of April 07 at age 102, marking him the world’s oldest billionaire.