102-year-old George Joseph is currently the world's oldest billionaire, according to the Forbes Billionaire List 2024.
The American businessman, who is the founder of the Los Angeles-based insurance company Mercury General Corporation, is known for his success in the insurance industry.
5 facts about George Joseph:
George Joseph was born in 1921 in Beckley, West Virginia, to Lebanese immigrants. He graduated from Harvard University in 1949 with majors in Maths and Physics.
He was raised during the Great Depression. He served as a flight navigator during World War II and completed 50 missions over North Africa and Italy as part of the US Army Air Corps.
George Joseph started his career at Occidental Life Insurance Company in LA as a system analyst. He was a door-to-door salesman, selling life insurance policies at night.
George Joseph is the founder of Mercury General, a prominent insurance provider with annual revenues totaling $4.6 billion. He started the company in 1962 with an initial capital of $2 million. He introduced cut-rate deals specifically targeting safer-than-average drivers, which proved to be a successful business strategy.
He owns a 35% stake in Mercury General, which is publicly traded. The company offers various insurance products, including automotive, home, and fire insurance. Currently the world's oldest billionaire, he has a net worth of $1.7 billion, according to Forbes.
