Bloomberg Billionaires Index

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#468 Bruce Halle $4.06B

Random fact: Devout Catholic financed restoration of Vatican Michelangelo frescoes.

Overview

Halle is the founder and chairman of Discount Tire, the largest independent tire and wheel retailer in the world. The Scottsdale, Arizona-based company has about 940 stores in 33 states under the Discount Tire and America's Tire brands. The closely held business was founded in 1960 and had revenue of $4.3 billion in 2016.

As of July 21, 2017:
Last change +$39.9M (+1.0%)
YTD change -$2.17B (-34.8%)
Industry Retail
Biggest asset Discount Tire
Citizenship United States
Age 86
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Bruce Halle's net worth of $4.06B can buy ...

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of the total wealth of the 500 richest people in the world
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Halle's wealth is derived from his ownership of Discount Tire, a closely held chain of about 940 stores under the Discount Tire and America's Tire brands. It's the world's largest independent tire and wheel retailer, according to its website, as of May 2017.

Halle is the sole owner of the company after buying out a 29 percent stake held by the widow of a minority partner, Ted Von Voigtlander, who died in 1999, according to a 2012 authorized biography.

The valuation of Discount Tire is based on the average enterprise value-to-sales multiples of four publicly traded peer companies: Monro Muffler Brake, Advance Auto Parts, O'Reilly Automotive and Lithia Motors. The company had revenue of $4.3 billion in 2014, according to company spokesman Greg Miller in June 2017.

Kendra Schmitt, a spokeswoman for Discount Tire, confirmed factual details of Discount Tire and Halle's career and didn't comment on his net worth calculation.

Biography

Birthdate: 1930
Family: Married, 3 children

Bruce Halle was born in Springfield, Massachusetts, in 1930 to Molly and Fred Halle, who later became a firefighter in Berlin, New Hampshire. Raised by his devout Catholic parents, Halle attended parochial school and graduated from Eastern Michigan University with a bachelor's degree in business administration in 1956. He interrupted his college education in 1950 to enlist in the U.S. Marine Corps and serve a tour of duty in the Korean War, according to his authorized 2012 biography.

After college, Halle took a series of jobs selling cars and life insurance, as well as an unsuccessful partnership in an auto supply distribution company in Ypsilanti, Michigan. The partners split what was left of the business, with Halle keeping two new tires and six retreads, which he used as his first inventory in a newly christened Discount Tire store he opened in an old plumbing supply store in Ann Arbor in 1960. As a sales promotion, he offered to change customers' snow tires for free and fix flats for no charge.

Halle opened a second store in Ypsilanti four years later with a partner he later bought out to gain full control of the company, according to his biography. He opened his first store outside of Michigan in Arizona in 1970, where he eventually relocated the headquarters in Scottsdale. Halle's Discount Tire was the largest independent tire dealer in the U.S. by 1985. His early entry into online retailing enabled him to lock up the addresses www.tire.com and www.tires.com in 1994, which he still owns.

The company now has more than 900 stores spread across 31 U.S. states. Halle's stepson, Michael Zuieback, serves as chief executive officer of the company.

Milestones
  • 1930 Bruce Thomas Halle is born in Springfield, Massachusetts.
  • 1956 Graduates from Eastern Michigan University.
  • 1960 Opens first Discount Tire store in Ann Arbor, Michigan.
  • 1970 Expands outside of Michigan with first store in Arizona.
  • 1994 Starts Discount Tire Direct Internet business.
  • 1995 Marries widow Diane Meyers Cummings in Phoenix.
  • 2004 Begins sponsorship of Nascar racing teams.
  • 2013 Expands to 25 U.S. states with store in Omaha, Nebraska.