J. Howard Marshall III

For other people named Howard Marshall, see Howard Marshall (disambiguation).

James Howard Marshall III (born February 6, 1936 in San Francisco, California) is an American businessman.

Biography

He was disinherited by his father, J. Howard Marshall II, after siding with William Koch in Koch's attempt to take over Koch Industries, Inc. from his brother, Charles Koch; Marshall II, who was a board member of the company, and his other son, E. Pierce Marshall, supported Charles. After learning he no longer had a swing vote position, Marshall III agreed to sell his interests for $8 million. He also claimed that J. Howard promised him that he would not disinherit him, and that Marshall III's mother would receive a $100,000 per year allowance. After J. Howard's death, Marshall III filed suit against Pierce, claiming that he had decided to deprive his brother of his righful inheritance.

In March 2001, Texas probate jury found that J. Howard's will and trust were valid, and had not been executed under fraud or malice; Pierce had not committed any wrongdoing; and that Howard III and J. Howard's widow Anna Nicole Smith, were not entitled to any of his $1.6 billion fortune.[1] Further, the jury found Marshall III had committed fraud with actual malice against J. Howard's estate and awarded Pierce $35 million.

Marshall III is president and owner of MDH Industries, an electronics company based in Monrovia, California.

References

  1. ↑ "Anna Nicole Smith Loses Court Battle Over Spouse's Estate". New York Times. March 8, 2001. Retrieved 24 October 2010.
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