A FAMILY is now worth more $13billion after transitioning their focus into pest control.
The Rollins family has made a fortune from killing roaches, termites, and rats under the Orkin name since 1964.
But Rollins. Inc didn’t start out in the pest control trade.
Orkin pest control is still majority family-owned, putting the Rollins family’s combined net worth at $13.1 billion, according to Business Insider.
But the origins of the company go back to brothers John and Orville, who founded the company in 1948.
They started several local radio stations under the name Rollins Broadcasting.
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The humble operation grew to include several AM stations and a television station, WPTZ, in 1956.
Although going from media to pest extermination was not an obvious leap, the Rollins brothers were always on the lookout for a new moneymaker and saw an opportunity with Orkin.
FOUNDING FORTUNE
Orkin pest control company was already well established when it was acquired by Rollins Inc. in 1964 for $64million.
Even back then, that was a hefty price - equivalent to $628 million today.
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But Wayne put up just $10million of his own money into the deal.
The Du Pont family, heirs to the chemical company DuPont, contributed the remaining $52.4million, in one of the first leveraged buyouts in US history.
The Rollins brothers expanded Orkin state by state and grew by acquiring regional chemical and pest control firms.
SUCCESSION
In 1978, Orville passed down the role of Orkin president to his son Gary.
Under Gary’s leadership, the company opened a new “development” branch, forging ideas, techniques, and procedures that nearly doubled the productivity of the company.
In 1984, Gary was elected president and chief operating officer of Rollins Inc., with the job of Orkin president going to Ed Elkins,
Gary retired from his roles in 2022, but still serves as chairman of the board.
Although the Rollins family has been less involved in the company in recent years, the business has continued to deliver massive payouts for the Rollins clan.
TODAY’S WORTH
Almost 60 years since it was acquired by the Rollins brothers, Orkin remains the largest pest control company in the US by revenue, according to market research firm Statista.
The wealthy Rollins family has grown a reputation over the years for throwing lavish parties at their Atlanta estates.
Gary’s son, Glen, became known for his “Gatbsy-theme affairs” at his English hilltop manor with a five-acre lawn, reported Forbes.
The company is publicly traded, but the Rollins family owns a combined stake of around 53 percent.
That puts the family’s combined net worth at $13.1 billion, making them the 24th richest family in America, as per Business Insider.
But great riches have caused great problems in the family.
In 2010, Glen and three other grandchildren of founder Wayne sued their father Gary, and their uncle Randall.
The heirs contented that their elders had abused control of trust funds set up by their grandfather.
In an interview with Forbes, Glen claimed his family was trying to escape a “cult.”
“We’d put up with a lot,” he said. “We didn’t want to have our kids and grandkids go through that, or worse. We were unwilling to have them rule from the grave.”
The Atlanta Journal-Constitution described the suit as “a well-known Atlanta family torn apart by accusations of greed and betrayal,” when an undisclosed settlement was reached in 2019.
But the Rollinses are just one of several billionaire families who have built up a fortune thanks to generations of business dominance.
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The Dorrance family is worth a combined $15billion after their great-grandfather invented Campbell’s condensed soup.
And the Brown family behind Jack Daniel's has been raising a toast to their success in the liquor business for over 150 years.
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