John Delorean In 2005, John DeLorean, the founder of the DeLorean Motor Company and previous head of a division at General Motors, passed away.
He was most known for starting the DeLorean Motors Company and his work at General Motors.

Net John Delorean Net Worth: $ 500 Thousand

John Delorean Net Worth
John Delorean Net Worth

Early Life

DeLorean attended public elementary and secondary schools in Detroit before enrolling at Cass Technical High School. His scholastic record and musical abilities earned him a scholarship at Lawrence Institute of Technology, an institution where many outstanding engineers in the motor industry had previously gone. DeLorean’s studies were interrupted by World War II in 1943, and he was drafted into the military.

John DeLorean, the eldest of four boys, was born in Detroit, Michigan in 1925. Zachary, his father, was a Romanian immigrant who worked in a mill factory, and Kathryn, his mother, was a Hungarian immigrant who worked at GE. Because of Zachary’s frequent violent outbursts, Kathryn moved the kids to Los Angeles to live with her sister, where they resided on and off over the years. DeLorean’s parents split in 1942.

Served in Army

He was honorably released from the Army after three years of service and returned to Detroit, where he worked for the Public Lighting Commission while finishing his degree at Lawrence. Rather than immediately entering the engineering field, DeLorean worked for the Factory Equipment Corporation after selling life insurance for a spell. He proceeded to the Chrysler Institute after briefly attending the Detroit College of Law and graduating with a master’s degree in automotive engineering.

Career

He started his career with General Motors’ Pontiac division, where he became famous for the Pontiac GTO (Gran Turismo Omologato). It’s a muscle car modeled after the Ferran 250 GTO. The car was a smash hit, and he became a celebrity overnight. The new documentary series is the latest in a long line of documentaries that have performed exceptionally well on the platform. Similarly, docuseries like ‘The Sons of Sam,’ ‘The Last Dance,’ and ‘Carlos Almaraz: Playing with Fire’ are some of the best examples of the genre.

Marriage

DeLorean’s love life was likewise full of twists and turns, as he married four times. According to The Outline, he married his first wife, Elizabeth Higgins, a receptionist, in 1954, barely two years before starting his work at General Motors. While DeLorean was on his upward trajectory and establishing himself as an automobile industry visionary, the two remained married until 1968. The couple had no children, and their divorce was acrimonious, with Higgins suing her ex-husband for “cruelty,” according to The Outline. DeLorean began to live a “fast life” after his divorce from Higgins and developed a flashy image for himself.

In 1969, DeLorean married for the second time, this time to Kelly Harmon, a model and the daughter of football legend Tom Harmon. According to The New York Times, she was 20 years old at the time, while DeLorean was 44. In 1973, they divorced.

In 2002, he married Sally Baldwin for the second time, and they remained together until his death in 2005 at the age of 80. Sheila, their daughter, was born in 2002.

World’s first muscle vehicle

The ‘Pontiac GTO,’ the world’s first muscle vehicle, was possibly his finest achievement at ‘Pontiac.’ The car was first introduced in 1964 and has grown in popularity over time. The most significant components of the ‘GTO’ were in DeLorean’s hands: concept, engineering, and marketing. He was so successful that he was promoted to head of the entire ‘Pontiac’ section in 1965. He was only 40 years old at the time, so it was a first.

General Motors

DeLorean was a very wealthy man. He dressed differently than the other business executives and disobeyed all of the company’s standards. At his second marriage, he even made Lee Iacocca, the president of ‘Ford,’ his best man. His career took off when he was promoted to vice president of car and truck production for the whole GM line. The next position would have been president, but that was unacceptable to the company’s other leaders. As a result, DeLorean quit ‘General Motors’ in 1973. His official justification was that he needed more time to spend with his friends. Many people, though, believed he had been sacked.

DeLorean Motor Company

Following his departure from ‘General Motors,’ John founded the ‘DeLorean Motor Company,’ which produced the ‘DeLorean.’ However, the project was beset by delays in manufacturing and high expenses. As a result, it took ten years for the car to reach the general public. The corporation was in serious financial trouble, owing over $175,000 in debt.

His Arrest

John was accused of narcotics trafficking on October 19, 1982, however, the sting operation that led to his arrest had numerous flaws. A confidential source, James Hoffman, John’s former neighbor, alerted the US government. John had approached Hoffman about arranging up a cocaine sale, Hoffman informed detectives.

John Delorean Net Worth
John Delorean Net Worth

During the trial, however, John’s lawyer, Howard Weitzman, refuted such charges. According to Weitzman, it was the other way around, and Hoffman was the one who called John and recommended the trade. Hoffman, who was awaiting his own trial for drug trafficking, set up John, according to John’s counsel, in order to secure a lower sentence.

Tax evasion and deceiving investors were also charges against DeLorean. He was acquitted of all of those accusations as well in the end.

Death

At the age of 80, DeLorean passed away in 2005. Donald Trump, who was then largely a real-estate developer, bought his former residence in New Jersey in 2002 and transformed it into a golf course in 2004

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