Understanding Herb Chambers: The Man Behind the Empire
Herb Chambers, a well-respected billionaire hailing from the United States, is best known as the founder of the Herbert Chambers Companies. Born in November 1941, Chambers ventured into the car dealership business at the age of 42 after selling his copy business, A-Copy America, for a significant US$ 80 million.
Fueled by a subpar experience while purchasing a Cadillac car, Chambers embarked on a mission to redefine the car-buying experience. This vision led to his first foray into the automotive industry, starting by acquiring a Cadillac dealership. Beyond cars, Chambers has an affinity for luxury yachts and is the proud owner of the Abeking & Rasmussen yacht Excellence VI.
He divorced his wife after a 13-year marriage. The former couple has a son George Chambers. George Chambers is general manager at Herb Chambers Porsche in Boston. Herb is now living together with his longtime girlfriend Melissa Lees.
Key Takeaways
- Herb Chambers is a US billionaire and the founder of the Herbert Chambers Companies.
- After a poor experience buying a Cadillac, Chambers purchased a Cadillac dealership, marking his entry into the car dealership business.
- The Herb Chambers Companies is a conglomerate of 60 car dealerships, selling over 55,000 cars annually.
- Chambers owns an extensive collection of rare cars, and he has previously owned several luxury yachts, all named Excellence.
- Chambers’ estimated net worth is around $2 billion.
- In 2025 he sold his car dealership group for $1.3 billion.
The Success of Herb Chambers Companies
The Herb Chambers Companies is an impressive conglomerate of 60 car dealerships, selling over 55,000 cars each year, including used vehicles. The group represents some of the world’s most renowned car brands, such as Cadillac, Lexus, BMW, Porsche, Mercedes, Rolls Royce, Maserati, and Bentley. The group, employing over 2,400 individuals, ranks as the 5th largest car dealership in the USA and records annual sales surpassing US$ 2 billion.
Herb Chambers’ Landmark $1.34 Billion Sale to Asbury Automotive
Georgia-based Asbury Automotive Group will purchase Herb Chambers Companies, the prominent New England automotive retailer, in a transaction valued at approximately $1.34 billion. The deal encompasses 33 dealerships, 52 franchises, and three collision centers located across Massachusetts and Rhode Island, and is projected to be finalized by the end of this year.
This development brings to a close the long-standing stewardship of Herb Chambers, who acquired his first dealership in New London, Connecticut, in 1985. Under his leadership, Herb Chambers Companies expanded considerably, ultimately ranking as the 14th largest private automotive retail group in the United States. After the sale, Herb Chambers will serve as Special Advisor to Asbury Automotive Group while retaining ownership of the Mercedes-Benz of Boston dealership in Somerville.
Chambers, now 83, spoke about the transaction by expressing both pride in his organization’s legacy and confidence in Asbury’s ability to continue the company’s successes. Included in the $1.34 billion purchase price is $750 million allocated to the firm’s established reputation (goodwill) and approximately $590 million attributed to real estate and property enhancements.
Herb Chambers Companies employs over 2,200 individuals and generated $2.9 billion in revenue last year, according to the announcement. Meanwhile, Asbury Automotive Group—a Fortune 500 business—operates a sizable network of new vehicle dealerships, representing both domestic and international brands. The company additionally owns Total Care Auto, a car insurance provider, and manages 37 collision repair centers.
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Herb Chambers: A Passionate Car Collector
In addition to selling cars, Chambers is an avid car collector, boasting an impressive collection of rare vehicles. These include a Bugatti Veyron, a Porsche 959, a 1955 Mercedes 300L Gullwing, and a Ferrari Daytona Spider. Notably, in 2017, he sold a McLaren F1 for an astounding $16 million.
The Estimated Net Worth of Herb Chambers
As per Forbes, the net worth of Herb Chambers is estimated to be around $2 billion.
Yacht Ownership: A Glimpse into Herb Chambers’ Love for Yachting
Mr. Chambers’ love for luxury extends to yachts, having owned several yachts, all aptly named Excellence. His penchant for yachts is such that he prefers those below 60 meters (180 ft) as they can comfortably berth in Port Gustavia, St Barths. The latest addition to his collection is the Excellence VI, which replaced Excellence V when she was sold to Bill Miller and renamed Arience.
The yacht formerly known as Excellence IV never sailed under this name and was sold before delivery. This vessel is now known as Eminence, owned by Alexander Khloponin. Other yachts in his collection include Excellence III, a 57-meter yacht built by Abeking and Rasmussen in 2001, now named DREAM, and Excellence II, a 47-meter Feadship built in 1999, currently known as Princess TOO.
Furthermore, Chambers also owns an OverMarine Mangusta 94, built in 2018, and a Feadship 150′ ‘SEA RACER’ — both aptly named Excellence.
Resources
https://www.herbchambers.com/about-herb.htm
https://en.wikipedia.org/wiki/HerbChambers
https://www.forbes.com/profile/herbchambers
https://en.wikipedia.org/wiki/The_HerbChambers_Companies
https://www.merlewood.com/excellence-v-yacht
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