What is david mcdavid's net worth

While the businessman's net worth has been publicly disclosed, David McDavid's name almost always involves hundreds of millions of dollars when it appears in the news.

Asbury Automotive Group Inc. (NYSE: ABG), bought 70 percent of David McDavid Auto Group in 1997, reportedly for about $400 million.

In 2003, McDavid, who turned a single Oldsmobile franchise in Irving, Texas, into a statewide auto dealership empire, signed a letter of intent to buy Atlanta's bottom-dwelling basketball and hockey teams for an estimated $350 million to $400 million, it has been reported.

The Hawks/Thrashers venture would not be McDavid's first shot at a major sports franchise. In 1996, McDavid, Ross Perot Jr. (son of the 1992 presidential candidate) and other investors bought the Dallas Mavericks for $125 million.

In 2014, Asbury Automotive Group acquired Texas Motors Ford which approximately $140 million in revenues annually. The dealership was rebranded David McDavid Ford Fort Worth and brought the number of Asbury stores in Texas to 7.

Asbury has a reported 2013 revenue of $5.3 billion.

Visit www.mcdavid.com and learn more about David McDavid Automotive group and their dealerships.

Meet the richest people on the planet with Forbes 2017 Billionaires List.

Tags: lucky manforbesnet worth