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# 334 Judy Love $5.60B

Random fact: The company was originally known as Musket Corporation.

Overview

Love is the co-founder of Love's Travel Stops & Country Stores, a U.S. fuel and consumer products business. The Oklahoma City-based company operates a diversified chain of convenience stores, gas stations and logistics operations. It has more than 480 locations in 41 states and had revenue of $19 billion in 2017.

As of :
Last change +$11.4M ( +0.2%)
YTD change +$1.16B ( +26.1%)
Industry Retail
Biggest asset Love's Travel Stops & Country Stores
Citizenship United States
Age 82
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Judy Love's net worth of $5.60B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Love's fortune derives from Love's Travel Stops & Country Stores, which operates fueling stations and convenience stores across the U.S., as well as commodity and fuel transport businesses. The company has more than 480 locations in 41 states, according to its website.

This analysis assumes that the business is wholly-owned by the Love family and splits the fortune equally between the billionaire and his wife, Judy, a co-founder.

The company is valued based on its 2017 revenue of $19 billion, according to FactSet research, and the average enterprise value-to-sales and enterprise value-to-Ebitda (earnings before interest, taxes, depreciation and amortization) of two publicly traded companies: Casey's General Stores and Alimentation Couche-Tard.

Kealey Dorian, a spokesperson for Love's Travel Stops & Country Stores, said Love declined to comment on the net worth calculation.

Biography

Birthdate: 1/1/1937
Family: Married, 4 children

Judy Love was born in Oklahoma City in 1937. She met her soon-to-be husband, Tom, when studying at Oklahoma State University, and the two married in 1960. A aspiring entrepreneur, Tom Love acquired the lease to a gas station in an abandoned building in the city of Watonga for $150 a month in 1964.

With Judy working as bookkeeper, Tom began to grow the lone gas station into a network and expanded into food in 1972 with the opening of an on-site convenience store. A spike in oil prices due to the OPEC embargo a year later further emphasized the need to diversify.

The company changed its name from Musket Corporation to Love's Travel Stops & Country Stores in 1986. Over the next few decades, the business grew to include roadside-assistance hubs, fast-food franchises, hotels and a compressed natural gas-provider. The business had more than 480 locations in 41 states in May 2019, according to its website.

Judy ceased working full-time at the company in 1975 in order to go back to college to study interior design. An active philanthropist, she serves on the board of a half-dozen Oklahoma nonprofits. She was inducted into the Oklahoma Heritage Association's Hall of Fame in 2010 and received the Lifetime Achievement Award from Oklahoma City University in recognition of her charitable activities. 

She has four children, three of whom work at the company.

Milestones
  • 1937 Judy Love is born in Oklahoma City.
  • 1960 Marries Tom Love on the day after Christmas in order to save money on flowers.
  • 1964 With husband, Tom, leases an abandoned filling station in Watonga, Oklahoma.
  • 1972 Opens first convenience store in Guymon, Oklahoma.
  • 1973 Members of OPEC announce an oil embargo, causing gas prices to spike.
  • 1975 Leaves full-time position at Love's to study interior designer.
  • 1992 Love's partners with Taco Bell to operate restaurants in company's stores.
  • 2010 Inducted into the Oklahoma Heritage Association's Hall of Fame.