Donald A. Foss ( – August 14, 2022) was an American billionaire businessman, the founder, chairman, and CEO of the subprime car finance company Credit Acceptance. At his death, his net worth was estimated at US$2 billion.[1]
Early life
Foss was born c. 1944.[2] His father was a used car salesman.[2]
Career
Foss founded Credit Acceptance in 1972.[2] In January 2017, Foss stepped down as the company's chairman.[2]
As of March 2018, Forbes estimated his net worth at US$1.2 billion.[3]
Personal life
Foss was married, with three children, and lived in Farmington Hills, Michigan.[1] He died on August 14, 2022, at the age of 78.[4]
References
- Forbes profile: Donald Foss Forbes, retrieved August 16, 2022^
- Tom Metcalf. As Inventor of Subprime Car Loans Exits, Critics Smell a Lemon Bloomberg, May 4, 2017, retrieved March 6, 2018^
- Chase Peterson-Withorn. Meet The World's 259 Newest Billionaires Forbes, March 6, 2018, retrieved March 6, 2018^
- Nick Manes. Donald Foss, billionaire founder of Credit Acceptance Corp., dies at 78 Automotive News, August 16, 2022, retrieved August 16, 2022^