Ann Arbor, MI

The richest person in Ann Arbor, Michigan

Luay Rahil

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Forbes published its annual list of the richest people on the planet with its billionaire's list. Nearly 2,674 billionaires, and more than 25% live in the United States.

Today, I will uncover the wealthiest person in the Ann Arbor/ Ypsilanti area.

His name is William C. Young. His net worth exceeds $2.2 billion, making him the richest man in Ann Arbor/ Ypsilanti.

It is difficult to determine where William C. Young lives because most billionaires live in more than one place and move as often as they need to make more money. William C. Young is not an exception. Some documents state he lives in Ann Arbor. Others believe he lives in Ypsilanti.

Who is William C. Young?

William C. Young was born in 1940 and attended the University of Detroit Mercy, where he graduated in1964 with an electrical engineering degree.

While attending the University of Detroit Mercy, William C. Young started working at his family business Absopure Water Company. In1967 he partnered with his father, William P. Young, and founded Plastipak Packaging in 1967. He later became chairman, chief executive officer, and president of the company.

Six years later, they sold a majority stake to food processor Beatrice Foods Co. However, in 1982, he bought back the company. Then, in 2005, his father died at age 90, and he became the company's face.

In 2012, William C. Young sold a minority stake to a division of investment bank Goldman Sachs Group Inc to focus on his philanthropy work but maintained control of Plastipak with about 41% stake. Today, he serves as Chairman of the Board, President, and the Chief Executive Officer of Plastipak.

Plastipak today

According to Forbes, "Plastipak operates twenty-seven plants in South America, Europe, and the U.S., manufactures more than 20 billion plastic containers per year, and has about 5,000 employees worldwide.

The company is located in Plymouth, Michigan, and according to the University of Detroit Mercy, "The company sales exceed $2.3 billion and has manufacturing facilities in the U.S. and seven other countries." In 2008, he was initiated into the Bottled Water Hall of Fame.

Philanthropy

William C. Young's leadership and generosity earned him Michigan's 2005 Entrepreneur of the Year Award. Young sits on the University of Detroit Mercy board and serves as president of the Detroit Regional Dollars for Scholars chapter.

What organizations would you support if you had William C. Young's money?

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