Who owns U-Haul? (all you must know)
U-Haul is one of the most popular truck and trailer rental facilities in the United States. The company has many rigs to choose from to meet all your needs to take the stress out of your move.
But if you’re new to U-Haul, you might be wondering: Who owns this company? If so, this article is perfect for you as it explains who the owners of U-Haul are and has more info you might be curious about, so keep reading!
Who owns U-Haul in 2022?
U-Haul is owned by a public holding company called AMERCO, which also operates AMERCO Real Estate, RepWest Insurance Company and Oxford Life Insurance Company in 2022. U-Haul has been operating since 1945 by Leonard Sean and his wife. The Shoen family still directly or indirectly owns approximately 55% of AMERCO’s shares.
If you want to learn more about who owns U-Haul, what AMERCO is, the history of U-Haul, and more, keep reading!
Which company owns U-Haul?
The current owner of U-Haul is a company called AMERCO, which is still partially owned and operated by the family of U-Haul’s original founders.
In fact, the company was first founded in 1945 by Leonard Shoen and his wife in their family garage.
What is AMERCO?
AMERCO is the parent company of U-Haul, one of the largest do-it-yourself moving and self-storage companies in the United States.
In addition, this company is the operator of AMERCO Real Estate Company, RepWest Insurance Company and Oxford Life Insurance Company.
As previously mentioned, AMERCO is still partly owned by the family that originally created U-Haul.
What is the history of U-Haul?
Leonard Shoen and his wife co-founded U-Haul in 1945 in Richfield, Washington, with an original investment of $5,000.
The company started in the family’s garage and has grown rapidly.
The Shoen family started building rental trailers and even partnered with gas station owners, eventually securing a franchise as an agent.
By 1955, there were more than 10,000 U-Haul trailers and the brand was well known across the country.
As the years passed, Leonard Shoen had many children, each of whom became shareholders in the company.
Today, the Shoen family owns approximately 40% of the company through its AMERCO holding company.
The family had the idea to start the U-Haul company because they were moving but couldn’t find a rental trailer for one-way moves, which sparked the idea for the U-Haul business model.
Where is U-Hauls headquartered?
The U-Haul Company originated in the Shoen family in Richfield, Washington, and later moved to Portland.
However, in 1966 it was decided that the company needed to move out of Portland, Oregon, and to Phoenix, Arizona.
Unfortunately, the exact reason for the decision to move out of Portland is unclear.
However, many said Shoen was unhappy with the city’s lack of parking for its growing business.
What is U-Haul?
U-Haul is a Phoenix, Arizona-based mobile truck, trailer and self-storage rental company. Its fleet consists of trucks, car transport and various other equipment.
The company has 2 main categories of equipment in its fleet, “in-city” and “one-way”.
“One-way” devices are primarily used for one-way travel, which means that transfers can be at different locations.
In contrast, “in-town” devices require pickup and drop-off at the same location.
To learn more, you can also read our posts on how long you can rent a U-Haul, how to adjust the mirrors on your U-Haul, and the weight of your U-Haul car trailer.
in conclusion
The U-Haul Company was originally created by a couple in their garage only because of the inconvenience of the family moving.
Today, the company is still largely owned and operated by the same family that conducts business through a company called AMERCO.
