J. Howard Marshall III
Encyclopedia
James Howard Marshall III (born February 6, 1936 in San Francisco, California
) is an American businessman.
, 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, a 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. 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
.
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
) 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 MarshallE. Pierce Marshall
Everett Pierce Marshall was an American businessman and a son of J. Howard Marshall II.According to a Dallas Morning News article, he was a very private man, but became known due to defending the long-running legal dispute from his father's third wife, Anna Nicole Smith.Marshall attended...
, 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
Inheritance
Inheritance is the practice of passing on property, titles, debts, rights and obligations upon the death of an individual. It has long played an important role in human societies...
.
In March 2001, a Texas probate
Probate
Probate is the legal process of administering the estate of a deceased person by resolving all claims and distributing the deceased person's property under the valid will. A probate court decides the validity of a testator's will...
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
Anna Nicole Smith
In 1992 Smith was chosen by Hugh Hefner to appear on the cover of the March issue of Playboy, where she was listed as Vickie Smith, wearing a low-cut evening gown. The centerfold was photographed by Stephen Wayda. Smith said she planned to be "the next Marilyn Monroe". Becoming one of Playboys...
, were not entitled to any of his $1.6 billion fortune. 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
Monrovia, California
Monrovia is a city located in the foothills of the San Gabriel Mountains in the San Gabriel Valley of Los Angeles County, California, United States. The population was 36,590 at the 2010 census, down from 36,929 at the 2000 census...
.