John DeLorean became a household name in the 1970s and 1980s as a result of his revolutionary work within the automotive industry. However, his life was far from straightforward, and he faced plenty of professional difficulties. Not everything went according to plan, but that did not prevent him from gaining public interest. So, let's take a look at it all together, shall we?
What Was The Cost of John DeLorean's Retirement?
John began his education as a public school student at Cass Technical High School, which specializes in providing academically excellent education. This enabled him to take on an internship at the Lawrence Institute of Technology.
John's studies were halted for three years as he was drafted to serve in the military, then he returned to work for a year and a half to care for his family, before returning to school in 1948. After graduating, he decided to focus on selling life insurance, but soon abandoned it.
John joined Packard Motor Company in 1953, after a year of serving as a Chrysler engineering engineer and general manager, and the company was struggling to stay afloat. In 1956, John moved over to GM and joined its Pontiac division.
John was offered a second promotion on February 15, 1969. This time, he was promoted to the head of General Motors' Chevrolet division. However, in 1973, he decided to leave General Motors and founded his own business, DeLorean Motor Company (DMC). As a man striving for his dreams, John encountered several obstacles.
'On a Clear Day You Can See General Motors,' a book that he co-authored in 1979, was a success. Despite being declared innocent in August 1984, John's involvement in the drug scandal had a lasting impact on his life. During the last years of his life, John began to design and sell his own watches under the brand name DeLorean Time in an attempt to restart his automobile career.
John DeLorean's Net Worth
John DeLorean made $600,000 a year at the time he joined the Chevrolet division, which would amount to $5 million in 2023 when adjusted for inflation. The businessman's company DMC was reported to have been $175 million in debt in February of the same year. However, an average businessman in New York would earn about $200,000 in 2005.