John D. MacArthur*

Born in 1897 in Pittston, Pennsylvania, John MacArthur was one of seven children. He worked school days at odd jobs to supplement his family's income. When he finished elementary school, his first full-time job was as a timekeeper in a foundry. At 17, he went to England and joined the Royal Air Force, serving as a pilot throughout World War I. After the war ended, MacArthur moved to Chicago and worked as a newspaperman. Later he went into the insurance business.

Early in 1929, MacArthur organized his first company and managed it well enough to survive the Great Depression. In 1935, he borrowed $2,500 and acquired the nearly bankrupt Bankers Life and Casualty Company. In only two years, he built it from 144th place in the insurance industry to 9th place. Although he made his fortune in the insurance business, he increased his wealth through lucrative real estate investments in Florida.