Business: RDS Investments
At a young age, Ron’s father died leaving him to figure out life on his own. Having knowledge of cars, he figured out how to make money by salvaging old auto parts and using them to fix up broken cars. In 1973, he opened his first body shop, AAA Bug Service, but quickly realized most of his profits were coming in from recycling parts. In 1978, he switched over to the auto recycling business, which at its prime brought in $15 million a year in revenue. In 1999, Ford Motor Co. gave him an offer he couldn’t refuse and he sold his business for $14 million. With the money he made, Ron was able to follow his passion of real estate investing. Today, his empire generates $6 million a year.