| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $50 million | N/A | June 4, 1938 | Ashland, Oklahoma | Male | N/A | Businessman | American |
What is Harland Stonecipher’s Net Worth?
Harland Stonecipher, an American businessman, had a net worth of $50 million at the time of his death. Born on June 4, 1938, in Ashland, Oklahoma, Stonecipher was best known as the founder of LegalShield, a corporation headquartered in Ada, Oklahoma, which sells legal services in the United States and Canada.
Highlights
– Harland Stonecipher had a net worth of $50 million at the time of his death.
– He was the founder of LegalShield, an American corporation selling legal services.
– Stonecipher served as the Chairman of the Board of Directors and was the Chief Executive Officer for many years.
Early Life
Harland Stonecipher was born on June 4, 1938, in Ashland, Oklahoma. Not much information is available about his early life and upbringing.
Career
The idea for LegalShield, formerly known as Pre-Paid Legal, was born after Stonecipher was involved in a motor vehicle accident and faced a lawsuit. While defending himself in court, he depleted his life savings. This experience led him to research the industry of European legal expense plans and eventually create The Sportsman’s Motor Club, the predecessor of Pre-Paid Legal, on August 8, 1972. The club offered legal expense reimbursement to its members.
In 1983, Pre-Paid Legal adopted network marketing, also known as multi-level marketing (MLM), as a business model. The company went public on the NASDAQ National Market System in 1984. In 1987, Pre-Paid Legal acquired The People’s Network (TPN), a satellite television network dedicated to personal development. On May 13, 1999, the company was listed on the New York Stock Exchange.
In 2011, Pre-Paid Legal changed its name to LegalShield when it was acquired by a private equity firm for $650 million. From the sale, Harland Stonecipher received a cut of $54 million.
Personal Life
Not much is known about Harland Stonecipher’s personal life. However, it is mentioned that he passed away on November 10, 2014, at the age of 76.
Net Worth Over Time
Harland Stonecipher’s net worth stood at $50 million at the time of his death. Although his exact wealth accumulation over time is not specified, his success can be attributed to his founding of LegalShield and its subsequent growth and acquisition.
Components of Net Worth
Harland Stonecipher’s net worth was primarily derived from his stake in LegalShield. As the founder, chairman, and former CEO of the company, his wealth was tied to its success and valuation. The acquisition of LegalShield by a private equity firm for $650 million allowed Stonecipher to secure a significant portion of the sale proceeds, resulting in a personal net worth of $50 million.
Stonecipher’s net worth also incorporated other assets and investments he may have held, although specific details about these components are not provided in the sources.
All net worth figures mentioned above are based on data drawn from public sources. While efforts have been made to ensure accuracy, the numbers presented are estimates. Corrections and feedback are always welcome to improve the accuracy of the information.