Mr.Thompson joins 15 other exceptional business, civic and cultural leaders from across North America in receiving 2022 honors. CONTACT . "Because it is not just a scholarship it comes with a network of Members that are excited to mentor and guide them. This proud, family-owned business is now one of the largest full service truck and trailer dealerships in the United States. Thomson's life is full of color and vibrancy. Cancer Research UK is a registered charity in England and Wales (1089464), Scotland (SC041666), Jersey (247) and the Isle of Man (1103). WASHINGTON, Dec. 10, 2019 /PRNewswire/ --Horatio Alger Association of Distinguished Americans, Inc., a nonprofit educational organization honoring the achievements of outstanding individuals and encouraging youth to pursue their dreams through higher education, today announced that David A. Thompson, president and CEO of TEC Equipment, Inc., has been selected for membership in this prestigious organization. He is a part owner of the NHL's Winnipeg Jets, and his family's holding company has a minority stake in the Montreal Canadiens. 2015 Added Wabash Trailer franchise in Stockton, CA, building a new state of the art facility. She is best known for her character as Lorraine Baines in the comedy film series Back to the Future trilogy. In order to ease his family's financial burden, he began working at age 16 at a garage and gas station. David A. Thompson founded TEC Equipment in 1976. Gavin Newsom (D) blocked the move. The TEC network consisted of 28 locations across five states until in 2022, TEC made its first foray into the Midwest, acquiring four Volvo dealership locations in Nebraska, Iowa and South Dakota. 2005 Purchased the Volvo, Mack and GMC franchises in Oakland, CA. 1999 Acquired the Mack Los Angeles, CA franchise. Fax: 541-737-4890, Phone: 541-737-2551 Michael Jordan asked David Thompson to introduce him for him his NBA Hall of Fame induction. For more information, please visit www.horatioalger.org. After high school, Mr. Thompson attended Parsons College in Fairfield, Iowa, and continued to work as a truck driver for Midwest Coast Transport, Inc. In addition to his professional success, he is a pillar in his community, providingthose in needwith lifechangingopportunitiesthrough hisphilanthropic effortsand generouscontributions. Net Worth is calculated using the formula given below. We are thrilled to welcome David as a Member.". Following his honorable discharge from the Army, Mr. Thompson returned to work at Midwest Coast Transport, Inc. as a sales representative, and was transferred to Portland, Oregon. Estate estimated net worth: US$400-500 million Estimated net worth at time of his death: US$20 million (technically his net worth was US$5 million at the time, before inflation. "David Thompson faced adversity from a young age, but persevered to build his company to become one of the largest heavy-duty truck and trailer dealerships in the country," said Terrence J. Giroux, executive director, Horatio Alger Association. For more than 70 years, the Horatio Alger Award has been annually bestowed upon esteemed individuals who have succeeded despite facing adversities, and who have remained committed to higher education and charitable efforts in their communities. Thompson played as a midfielder, though he had to retire aged 29 through an osteochondral defect of the left knee sustained at age 25. He is from American. Mr. joins 15 other exceptional business, civic and cultural leaders from across North America in receiving 2022 honors. Soon after, he had an opportunity to join Market Transport, a trucking company owned by Peter Stott, a Horatio Alger Association member from the class of 2014. Founder & Chief Executive Officer at TEC Equipment . Similar to characters in stories by Horatio Alger, Jr., they traditionally have started life in humble or economically challenging circumstances. The Association honors the achievements of outstanding leaders who have accomplished remarkable successes in spite of adversity by bestowing upon them the Horatio Alger Award and inducting them as lifetime Members. He pledged $5 million to Legacy Health for the construction of, Oregon Harbor of Hope and the Oregon Food Bank, Oregon State University Foundation Board of Trustees, dian Park Medical Foundations Board and a 2018 recipient of, Because it is not just a scholarship it comes with a, them. The second generation sons David O., Chris and William lobbied for a chance to model the savvy and drive they had seen throughout their upbringing. After high school, Mr. Thompson attended Parsons College in Fairfield, Iowa, and continued to work as a truck driver for Midwest Coast Transport, Inc. Email us, Copyright 2021 Oregon State University Disclaimer. David Thompson founded TEC Equipment in 1976. The Thompson sons serve in distinct, complementary roles across many business facets. Today he concentrates on developing and implementing workflows to streamline the leasing support business and reduce logistical friction for easy, efficient customer experiences. Hints and clues to help you with today's Wordle. Total Liabilities = $258.6 Bn. If the liabilities are greater than assets, it implies a negative net worth. TEC Equipments growth in the dealership industry is unprecedented. He then started Thompson Equipment Company, buying and selling used trucks. David O took an interest in the family business from a young age, working in a variety of roles around the dealerships as a teenager until he joined the company full-time in 2010. Fiber and Copper Multi Tester. Horatio Alger Members support promising young people with the resources and confidence needed to overcome adversity in pursuit of their dreams through higher education. . 1994 Added two Volvo franchises in Portland, OR and Wilsonville, OR. I imagine that business will continue that way for generations to come., Number of generations to work in the family business: 2, Number of family members working in the business: 4, Last family vacation destination: Palm Springs, Favorite restaurant for family dinner: RingSide Steakhouse, Name and firm of most helpful family business professional that you would recommend to other family businesses: Pat Green, attorney, Best business decision: Buying property versus leasing, alumni awards For more than 70 years, the Horatio Alger Award has been annually bestowed upon esteemed individuals who have succeeded despite facing adversities, and who have remained committed to higher education and charitable efforts in their communities. Swathi Veldandi Design Studio. Learn more. Two years later,he builta 7,800-square-foot building to service and sell his used trucks. As of 2022, David Thompson's net worth is $1 million. DETAILS BELOW David Thompson (born July 13, 1954) is famous for being basketball player. Mr. Thompson was just 15 years old when he lost his father. They own Cheveley Park Stud, which is one of the biggest and most successful thoroughbred stud farms in Europe. About the author David I. Bainbridge is Emeritus Professor of Business Law at Aston Business School, Aston University and an honorary member of Hardwicke Building, Lincoln's Inn. Horatio Alger Award Induction Ceremonies in Washington, D.C. In addition to heavy duty semi-trucks, TEC sells medium duty semi-trucks, trailers, tow and recovery products and auto transport vehicles. Following his honorable discharge from the Army, Mr. Thompson returned to work at Midwest Coast Transport, Inc. as a sales representative, and was transferred to Portland, Oregon. TEC Equipment is a Motor Vehicles, Transportation, and Retail company located in Portland, Oregon with $274.00 Million in revenue and 516 employees. Today, with 25 facilities in 21 cities, TEC Equipment owns all the Volvo & Mack Truck franchises in Oregon, Washington, Nevada and . With 30+ locations along the I-5 corridor, throughout the Midwest and beyond. We are thrilled to welcome David as a Member.". For more information, please visit www.horatioalger.org. Real Time Net Worth. He is currently [when?] This sparked his interest in the automotive industry, and a year later, he became a junior mechanic at a Chevrolet dealership and got a job as a truck driver. Copper Cable Tester. "I have admired the Association's work for years and I'm continuously impressed by the incredible impact a scholarship from this organization can have on the lives of inspiring young people," said Mr. Thompson. A California parole board voted to release Sirhan from his life sentence two years ago, but Gov. However, his family is the richest family in Canada with $35 billion combined fortune. Learn more about David Thompson, Tec Equipment, Inc including contact information, career history, news and intelligence. For more information about Horatio Alger Association and its Member Class of 2020, please visit www.horatioalger.organdfollow the organization on Facebook, Twitter and Instagram. Since 1984, the Association has awarded more than $180 million in college scholarships to more than 27,000 deserving students. Upon completion of his bachelor's degree in business, Mr. Thompson served in the U.S. Army, where he was assigned to the Army's Provost Marshall's Office in Vietnam, and served one and a half tours as a criminal investigator. family business Prior results do not guarantee a similar outcome. Mr. Thompson is passionate about bettering his community and providing those in need with valuable opportunities and support. Thanks to the generosity of its Members, the Association awards need-based scholarships to outstanding high school students who are committed to pursuing higher education and giving back to their communities. 2023 Forbes Media LLC. Net worth is the amount by which assets exceed liabilities. David Thompson is an iconic basketball player who has had a long and successful career. and the Member Class of 2022 will be formally inducted into the Association on April 7-9, 2022, during the Associations 75th. His work experience at TEC has focused on the fixed operations side, centering on the logistics side of the business before moving into his current role as leasing PMO lead. Our expansion from a single used truck center in Portland, Oregon to 30+ truck and trailer dealerships in over 20 cities across Washington, Oregon, Nevada, California, Arizona, Nebraska, Iowa and South Dakota is a tribute to this. TEC also operates a finance company, insurance brokerage, a truck leasing and rental fleet, collision centers, fuel sales and Wabash Trailer franchises. About Horatio Alger Association of Distinguished Americans: Founded in 1947, the Horatio Alger Association of Distinguished Americans, Inc. is dedicated to the simple but powerful belief that hard work, honesty and determination can conquer all obstacles. Since the scholarship program was established in 1984, the Horatio Alger Association has provided more than $180 million to 27,000 students in need, all of which has been funded solely through the generosity of Association Members and friends. The TEC Oakland site was purchased by TEC in 2005. Mr. Thompson joins 13 other exceptional business, civic and cultural leaders from across North America in receiving 2020 honors. Mr. Thompson joins 13 other exceptional business, civic and cultural leaders from across North America in receiving 2020 honors. For more information about Horatio Alger Association and its Member Class of 2020, please visit www.horatioalger.organdfollow the organization on Facebook, Twitter and Instagram. Since 1984, the Association has awarded more than $235 million in undergraduate, graduate, military veteran and career and technical education scholarships to more than 35,000 deserving students. However, there is an industry that might be most affected . 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