Donald Foss Explained

Donald Foss
Birth Date:2022 8, 78
Nationality:American
Founder, CEO, and chairman of Credit Acceptance
Children:3

Donald A. Foss (2022 8, 78 – August 14, 2022) was an American billionaire businessman, the founder, chairman, and CEO of the subprime car finance company Credit Acceptance. At his death, his net worth was estimated at US$2 billion.[1]

Early life

Foss was born 1944.[2] His father was a used car salesman.[2]

Career

Foss founded Credit Acceptance in 1972.[2] In January 2017, Foss stepped down as the company's chairman.[2]

As of March 2018, Forbes estimated his net worth at US$1.2 billion.[3]

Personal life

Foss was married, with three children, and lived in Farmington Hills, Michigan.[1] He died on August 14, 2022, at the age of 78.[4]

Notes and References

  1. Web site: Forbes profile: Donald Foss . Forbes . August 16, 2022.
  2. News: Metcalf . Tom . As Inventor of Subprime Car Loans Exits, Critics Smell a Lemon . March 6, 2018 . Bloomberg . May 4, 2017.
  3. Web site: Meet The World's 259 Newest Billionaires . Chase . Peterson-Withorn . March 6, 2018 . Forbes . March 6, 2018.
  4. News: Manes . Nick . Donald Foss, billionaire founder of Credit Acceptance Corp., dies at 78 . August 16, 2022 . Automotive News . August 16, 2022.