26 Billionaires Who Built Their Empires From Nothing

18. George Joseph 

Stories of people who grew up during the Great Depression reveal the extreme hardship that the financial crisis posed to children and families. During this time, Joseph grew up in West Virginia as the son of a Lebanese immigrant who was struggling to keep a restaurant open. World War II pulled the United States out of the depression, and it also pulled children who had grown up in dire poverty off family farms and desperate lives. Joseph was one of those who joined the military and went overseas to fly a B-17.

Upon returning home, the GI Bill, which allowed returning soldiers to attend college, paid for him to attend school. After graduating, he went to work for the insurance company Occidental Life; his tenure there made him realize what opportunities were available in the insurance industry. In 1962, Joseph raised two million dollars in funds and opened Mercury General, an insurance company that offers fire, home, and automotive. To make his company attractive to new customers, he offered lower rates to drivers who had safe driving records. Today, the company, of which Joseph owns one-third, earns $3.5 billion per year.