Introduction to Robert Plaster Net Worth
Robert Wayne Plaster was a highly successful businessman, philanthropist, and visionary entrepreneur who left a lasting impact on the business world and education system in the United States. He is best known as the founder of Empire Gas Corporation, one of the largest propane distributors in the country.
His career spanned several decades, during which he built a vast fortune through strategic investments, business acumen, and a relentless work ethic. Plaster was not only a self-made millionaire but also a generous donor who supported numerous educational institutions. His net worth, which was estimated to be in the hundreds of millions of dollars at the time of his passing in 2008, has continued to grow due to his investments and the long-term impact of his businesses.
Despite his immense success, Plaster remained committed to giving back to his community, particularly in the realm of education and free enterprise. He strongly believed that entrepreneurship and education were key drivers of economic prosperity, and he dedicated much of his later life to ensuring future generations had access to quality education. This article takes a deep dive into Robert Plaster’s net worth, his business ventures, his philanthropy, and the legacy he left behind.
Table of Contents
Early Life and Education: Humble Beginnings to Entrepreneurial Aspirations
Robert Plaster was born on September 3, 1930, in Kansas City, Missouri, and was raised in Neosho, Missouri. His early years were shaped by the challenges of the Great Depression, a time of extreme financial hardship for many American families. Growing up in a modest household, Plaster learned the value of hard work and perseverance from an early age. His mother often instilled in him the belief that “Can’t never could”, a phrase that stuck with him throughout his life and became a personal motto.
Plaster’s first jobs were humble yet formative. He worked as a grocery store clerk and later as a paperboy at Camp Crowder, a military training facility in Neosho. These early experiences taught him the importance of financial independence and self-discipline.
After completing high school, Plaster attended Joplin Junior College (now Missouri Southern State University) to study accounting. Although he did not complete his degree due to financial constraints, his brief time in college reinforced his belief in the power of education. This experience later influenced his philanthropic endeavors, as he sought to ensure that others would not face the same obstacles he did when pursuing higher education.
Business Ventures: The Rise of Empire Gas Corporation
Founding of Empire Gas Corporation
One of the biggest turning points in Plaster’s life was the founding of Empire Gas Corporation in 1963. Recognizing a growing demand for propane gas, he saw an opportunity to build a business that could serve rural communities, homes, and industries that relied on propane for heating and energy.
With limited capital but a strong vision, Plaster launched his company, initially operating on a small scale. Over the years, through aggressive expansion and strategic acquisitions, Empire Gas grew into one of the largest propane distributors in the United States. By the 1980s, the company had thousands of customers and an extensive distribution network that covered multiple states.
Business Growth and Expansion
Empire Gas Corporation’s success was driven by Plaster’s strategic mindset, which allowed him to identify and capitalize on emerging trends in the energy industry. The company grew rapidly through a combination of acquiring smaller propane businesses and expanding its infrastructure. Under his leadership, Empire Gas became known for its reliable service, customer-centric approach, and innovative marketing strategies.
In addition to propane distribution, Plaster also diversified his investments, purchasing real estate and investing in financial markets. He understood the importance of diversification, which played a major role in increasing his overall net worth.
Sale of Empire Gas and Other Business Ventures
In the late 1990s, Plaster decided to sell a significant portion of Empire Gas Corporation, capitalizing on its strong market position. The sale generated a substantial profit, solidifying his status as a multi-millionaire. He used this wealth to invest in various ventures, including real estate, finance, and venture capital.
One of his most notable investments was through Evergreen Investments LLC, a company that managed assets across multiple industries. This move ensured that his wealth continued to grow, even after he stepped away from active business operations.
Net Worth and Financial Legacy
At the time of his passing in 2008, Robert Plaster’s net worth was estimated to be between $50 million and $200 million. However, given the continued appreciation of his real estate holdings, business investments, and financial assets, some estimates suggest that by 2024, his estate and legacy investments could be valued at over $5 billion.
Sources of Wealth
- Empire Gas Corporation – The primary source of his wealth, generating millions in revenue annually before its sale.
- Real Estate Investments – Plaster acquired numerous commercial and residential properties, many of which appreciated significantly in value.
- Stock Market and Private Investments – His involvement with Evergreen Investments LLC allowed him to strategically grow his financial assets.
- Philanthropic Endowments – Although much of his wealth was donated to educational institutions, these investments have continued to grow through endowments and trust funds.
Philanthropy: Supporting Education and Free Enterprise
One of Robert Plaster’s most defining traits was his commitment to philanthropy. He strongly believed in giving back to the community, particularly in the area of education. In 1983, he established the Robert W. Plaster Foundation, an organization dedicated to promoting education and free enterprise.
Major Contributions and Named Institutions
Plaster’s generosity led to the development of numerous educational institutions, including:
- Robert W. Plaster Sports Complex – Missouri State University
- Plaster Student Union – Missouri State University
- Plaster Stadium – Southwest Baptist University
- Robert W. Plaster Free Enterprise Center – Missouri Southern State University
- Robert W. Plaster School of Business – Missouri Southern State University
His foundation has provided millions in scholarships and financial aid to students pursuing careers in business, finance, and entrepreneurship.
Legacy of Free Enterprise
Plaster was a staunch advocate for free-market capitalism, believing that economic success should be based on individual initiative and hard work. Through his philanthropic efforts, he sought to educate future generations about the importance of entrepreneurship and business ethics.
Personal Life and Legacy
Robert Plaster was known for his strong family values and commitment to his community. He was married to Mary Plaster, and together they raised four children. Despite his vast wealth, Plaster remained humble and grounded, often emphasizing that his success was a result of perseverance, not privilege.
He passed away on October 11, 2008, leaving behind a rich legacy of business success and philanthropy. His foundation continues to support education, entrepreneurship, and economic development, ensuring that his vision lives on.
Conclusion: A Life of Success and Giving Back
Robert Plaster’s story is a testament to the power of ambition, hard work, and strategic thinking. From humble beginnings, he built one of the largest propane distribution companies in the U.S., accumulating vast wealth in the process. However, his greatest contribution was not just in the business world, but in philanthropy, where he helped thousands of students gain access to higher education.
His estimated net worth of hundreds of millions (and possibly billions) of dollars continues to fund educational initiatives, ensuring that future generations benefit from his generosity. Robert Plaster’s life serves as an inspiration to entrepreneurs, demonstrating that with determination and a commitment to giving back, one can achieve both financial success and lasting impact.
