Herbert G. Chambers, Jr., was born on November 24, 1941, and is the current owner and president of The Herb Chambers Companies, a conglomerate of 60 auto dealerships serving the greater Boston, Massachusetts area.
Despite being 74 years old, Forbes magazine recognized him as one of the 400 wealthiest Americans in 2015, placing him at #392 with an estimated $1.8 billion in assets.
Early Life
On November 24, 1941, in Dorchester, Massachusetts (USA), Herbert G. Chambers entered the world. His father worked in commercial art, while his mother stayed at home to raise him.
His grandmother was the landlord of the two-family home where he spent his childhood.
When he was 13, he started working at the local Stop & Shop in exchange for $15 a week in rent payments to his mother.
He achieved considerable success in the business world, receiving promotions and pay hikes, but he struggled mightily in the classroom. He attended Boston’s English High School back then.
As a result, he decided to forego his senior year of college and instead focus on his career.
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Herbert Chambers’s net worth:
American businessman Herbert Chambers has a net worth of $1.4 billion. Herbert Chambers was born in November of 1941, in Dorchester, Massachusetts.
The Herb Chambers Companies, which he owns and runs, has 56 auto lots in and around Boston. When Chambers was a senior in high school, he decided to join the Navy instead. He eventually rose to the rank of Petty Officer Second Class.
After being let go from the pub he managed that his mother owned, he found employment as a copier repairman.
He later founded A-Copy America, a copier distribution firm, which he sold for $80 million. In 1985, he bought an Oldsmobile and Cadillac car dealership.
The record price of $15.62 million was paid in 2017 for a 1995 McLaren F1 that was owned by exotic vehicle collector Herbert Chambers. He has also driven a Ferrari LaFerrari Coupe and a Mercedes-Benz SLR McLaren.
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Professional Life
After dropping out of school and wondering what he should do with his life, Herbert Chambers joined the United States Navy in 1959 as an aviation electrician.
He served for four years and was promoted to the rank of Petty Officer Second Class before coming home to work in his mother’s bar. After two months on the job, his mother fired him over a disagreement.
Soon after, he found work in Cambridge, Massachusetts as a copy machine repairman, where he was paid $75 a week plus commission on any service contracts he sold.
At the tender age of 22, he had already established his own copier distribution company in Hartford, Connecticut under the name A-Copy America, using money borrowed from his parents.
Chambers joined the growing number of businesses switching from leasing to purchasing copiers and supplies as the industry shifted to take advantage of the competitive pricing offered by newer, less expensive models from Sharp, Minolta, and Canon.
With over 1,500 people and 36 locations, his company quickly became the largest Minolta and Canon distributor in the world.
He sold A-Copy to Alco Standard Corporation in 1983 for $80 million and stayed on as an employee there for another two years.
In 1985, Herbert Chambers bought an Oldsmobile-Cadillac dealership in New London, Connecticut, and thus began his automotive business.
As a result of his negative experience at the car lot, he decided to enter the automobile sales industry on his own. The now-famous Herb Chambers Companies began as he worked to improve the dealership’s operations.
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Personal Life: Family, Children, Residence, Private Interests
The renowned businessman calls Old Lyme, Connecticut home. He takes a private helicopter to work every Monday, the location of his company’s headquarters in Somerville, Massachusetts.
He spends the week at the Four Seasons Hotel Residences in Boston’s Public Garden. When Herb is commuting to work via plane, he frequently stops at one of his vehicle lots to hold meetings.
Over the years, he has amassed a collection of boats and other luxury watercraft in addition to his Bell 429 GlobalRanger helicopter.
After the mounted police unit of the Boston Police Department was eliminated due to budget shortages in 2009, he was instrumental in reestablishing it in 2016.
The mayor said he would put up $100,000 of his own money toward the project’s $1.5 million price tag, with the expectation that the remainder would come from public and business contributions.
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