Mark Shoen Net Worth Estimate and How It’s Calculated

Mark Shoen, specifically Mark V. Shoen, born 1951, is a U.S. billionaire businessman and one of the key figures behind U-Haul and its parent company AMERCO (now U-Haul Holding Company). His net worth sits somewhere in the $3.7 billion to $5.3 billion range depending on when you check and which source you trust, with Forbes pegging him around $4.9 billion in 2024 context and a 2026 Arizona-focused financial report placing him at approximately $3.74 billion as of March 2026, a drop explained almost entirely by fluctuations in U-Haul Holding's share price.

Who Mark Shoen Is

Mark V. Shoen is the son of U-Haul founder L.S. "Sam" Shoen, which puts him in a category of inherited-and-built wealth that's relatively rare even among billionaires. He didn't just inherit a stake, he's been deeply involved in running the company for decades. His official titles have included vice president at U-Haul and president of U-Haul's Phoenix operations, and he has served as a director and chairman-level figure within AMERCO's corporate structure. SEC filings going back to the 2004 AMERCO annual report document his long-running executive and board roles, and he continues to appear in the most recent proxy statements as both a significant stockholder and a key insider.

U-Haul itself is one of those businesses so embedded in American life that most people forget it's privately controlled by a single family. The Shoen family built what became the dominant moving and self-storage rental brand in North America. Mark V. Shoen is one of the principal shareholders in U-Haul Holding Company (ticker: UHAL), which is publicly traded, and that's the detail that makes his net worth both estimable and volatile.

What "Net Worth" Actually Means Here

Net worth is simply assets minus liabilities. For someone like Mark Shoen, the dominant asset is his equity stake in U-Haul Holding Company. Think of it this way: if you own 10 million shares of a company trading at $60 per share, your paper net worth from that one holding alone is $600 million. Now scale that up to the kind of stake the Shoen family controls, and you're in the billions. The liabilities side, mortgages, loans, any personal debt, is almost never publicly disclosed for private individuals, but at this wealth level, liabilities are typically a rounding error compared to the equity pile.

What's worth understanding is that most of Mark Shoen's net worth is not cash sitting in a bank. It's stock value, meaning it moves up and down with U-Haul Holding's share price every single trading day. That's why a number reported in late 2024 can look meaningfully different from one published in early 2026.

How the Estimates Are Actually Calculated

There are a few overlapping data sources that analysts and financial sites use to build a net-worth estimate for Mark Shoen, and they're more reliable than you might expect because U-Haul Holding is publicly traded.

• Beneficial ownership disclosures: The U-Haul Holding proxy statement (DEF 14A filed annually with the SEC) includes a "5% Beneficial Owners" section that names Mark V. Shoen directly, listing his share count and ownership percentage. This is the gold standard for his equity position.
• SEC Form 4 filings: Every time an insider buys or sells shares, they must file a Form 4 with the SEC within two business days. These filings also break down indirect holdings through trusts and entities, giving a more complete picture of total beneficial ownership.
• SC 13D/A filings: These disclose when a shareholder crosses meaningful ownership thresholds and include narrative context about control groups — useful for understanding how the Shoen family collectively holds stock.
• Share price: Once you have the share count from the above filings, you multiply by the current stock price to get the equity value. GuruFocus does this explicitly, noting assumptions like "estimated net worth based on shares held as of [date], assuming no transactions after [date]" — which is an honest way to present it.
• Other assets and income: Executive compensation (salary, bonuses, equity grants) and dividend income from UHAL shares contribute to wealth accumulation over time. U-Haul investor presentations reference dividends and shareholder distributions, which can serve as a proxy for ongoing passive income.

The Financial Trajectory: How the Wealth Built Over Time

Mark Shoen's wealth story tracks almost perfectly with U-Haul's corporate evolution over the past 40-plus years. The Shoen family's control of AMERCO was contested and complex for decades, with internal family disputes in the 1980s and 1990s that spilled into public record. Mark V. Shoen emerged on the controlling side of those disputes, and his long-running executive and board roles reflect that outcome.

AMERCO went through financial strain in the early 2000s, the company filed for bankruptcy protection in 2003 and emerged in 2004. That period would have compressed any equity-based net worth estimate significantly. The 2004 annual report documenting Mark V. Shoen's roles at the time captures that recovery phase. Post-bankruptcy, U-Haul Holding rebuilt its balance sheet and the stock recovered and then some. By the early 2020s, UHAL shares had appreciated substantially, pushing Shoen-family net worth figures into the multi-billion-dollar range. Forbes listed Mark Shoen among the 400 wealthiest Americans, and ABC15 included him in its roundup of 13 Arizonans on Forbes' 2024 richest list, citing a net worth of approximately $4.9 billion at that time.

More recently, the 2026 Arizona Tax Day State Report tracked a notable decline, from $5.26 billion in November 2024 down to $3.74 billion by March 2026. That's a swing of roughly $1.5 billion in about 16 months, almost certainly driven by UHAL share price movement rather than any change in his underlying business position. This kind of volatility is normal for people whose wealth is concentrated in a single public stock.

Public Earnings Signals Worth Checking

Because U-Haul Holding is publicly traded, you have access to more credible wealth signals for Mark Shoen than you'd get for most billionaires. Here's what to actually look at:

• UHAL stock price: The current share price of U-Haul Holding Company (ticker UHAL on Nasdaq) is the single biggest lever on his net worth. Check it on any financial data site.
• Proxy statement beneficial ownership table: Filed annually as DEF 14A with the SEC, this document lists Mark V. Shoen's exact share count and percentage. You can find it via U-Haul's investor relations page under SEC Filings, or directly on SEC EDGAR.
• SEC Form 4 filings: Search SEC EDGAR for "SHOEN MARK V" to pull the most recent insider transaction reports. These show purchases, sales, and the current tally of shares beneficially owned after each transaction.
• Forbes profile page: Forbes maintains a dedicated Mark Shoen profile that includes a real-time net worth figure with a timestamp. It updates with market movements, making it one of the most current publicly accessible estimates.
• Dividend disclosures: U-Haul investor presentations reference dividend distributions. Cross-referencing his share count with declared dividend amounts gives you a sense of his annual passive income from equity alone.

Why Numbers Vary So Much Across Sites

You'll find Mark Shoen's net worth listed differently almost everywhere you look, and there are real reasons for that, not just sloppy reporting. First, update frequency varies enormously. Forbes updates its real-time billionaire tracker with market data; a site like CelebrityNetWorth publishes a static figure that may not have been refreshed in months or years. Their $4.7 billion estimate could be perfectly accurate for a specific point in time but meaningfully off today.

Second, methodology differs. Forbes bases its calculation on publicly disclosed share ownership multiplied by current share price, then applies assumptions about other assets. GuruFocus is explicit about its assumptions and cutoff dates. Other sites may simply copy older figures or use rounded estimates without anchoring to current filings. Third, there are no mandatory personal financial disclosures for individuals (as opposed to the corporate filings for AMERCO/U-Haul Holding). Private real estate, personal investments, and any liabilities are essentially invisible unless they appear in litigation, tax records, or voluntary disclosure. That uncertainty adds a margin of error to any estimate, which is why presenting a range rather than a single number is more honest.

How to Verify the Most Current Figure Today

If you want the most defensible estimate of Mark Shoen's net worth as of today (May 2026), here's the practical checklist to work through:

1. Pull the most recent DEF 14A proxy statement from SEC EDGAR (search AMERCO or U-Haul Holding Company). Find Mark V. Shoen in the beneficial ownership table and note his total share count.
2. Check the current UHAL share price on Nasdaq or any real-time financial data platform. Multiply shares by price to get his equity-based net worth.
3. Search SEC EDGAR for Form 4 filings under "SHOEN MARK V" to see if there have been any recent transactions that changed his share count since the last proxy statement.
4. Cross-reference with the Forbes Mark Shoen profile page, which includes a timestamp showing when its figure was last updated — and compare that figure to your own calculation.
5. Note the gap between your calculation date and the proxy statement date. If several months have passed, the share count may be slightly out of date, but it's still the best anchored estimate available.
6. Treat any figure from CelebrityNetWorth or similar aggregators as a rough directional reference only, not a current number.

As of the most recent data available heading into mid-2026, a reasonable working estimate for Mark Shoen's net worth is in the $3.5 billion to $4.5 billion range, with the high end of that range more consistent with late-2024 UHAL share prices and the low end reflecting the pullback evident in early 2026 reporting. If UHAL stock has recovered meaningfully since March 2026, the actual figure could be closer to $5 billion again. This is a wealth profile that genuinely shifts with the market.

The Bigger Picture

Mark Shoen sits in an interesting category among notable Marks in business: his wealth is almost entirely rooted in one company, one industry, and one family's multi-generational control of that company. That's different from, say, an entertainer or athlete whose income is driven by individual performance and contracts. If you're comparing him to other financially notable Marks in the business world, the concentration risk in a single stock is both what made him a billionaire and what makes his net worth number swing by billions across a two-year window. Other notable Marks in adjacent spaces, like those with careers in entertainment or professional services, typically show far less volatile net worth trajectories because their assets are more diversified.

For anyone researching this figure for investment context, Arizona business influence, or just general curiosity, the most important takeaway is this: the headline number you see on any given site is a snapshot, not a fixed fact. The tools to verify it yourself, SEC EDGAR, U-Haul's investor relations page, and Forbes' real-time tracker, are all publicly accessible and free. Use them, and you'll always have a more current answer than any static article can give you.