Rex Maughan
Rex Maughan was born in Logan, Utah, United States on November 20th, 1936 and is the Entrepreneur. At the age of 87, Rex Maughan biography, profession, age, height, weight, eye color, hair color, build, measurements, education, career, dating/affair, family, news updates, and networth are available.
At 87 years old, Rex Maughan physical status not available right now. We will update Rex Maughan's height, weight, eye color, hair color, build, and measurements.
Maughan began investing in land while still working as an accountant in the early 1960s. Later, he joined the Del E. Webb Construction Company, and spent the next 13 years there, reaching the position of vice president. Maughan was also adding to his own real estate and ranching investments at this time.
Maughan founded Forever Living Products in 1978. The company initially made lotions from the aloe vera plant. The product line has grown and diversified, now encompassing a broad range of other products which are marketed through a multi-level marketing system. Since aloe vera is still a key ingredient in many of Forever Living products, Maughan segued into aloe cultivation and processing.
Maughan expanded into the resort business in 1981, under the umbrella of a sister company, Forever Resorts.
In 2002 Maughan was listed in the Forbes 400 as the 368th-richest man in the world, with a net worth of $600 million.
In 1996, upon suggestion of the American authorities, the Internal Revenue Service (IRS) and the National Tax Agency of Japan (NTA) initiated a joint audit of Rex and Ruth Maughan and related entities Aloe Vera of America (AVA), Selective Art Inc., FLP International, and FLP Japan for the period of 1991 to 1995. In 1997, the NTA imposed a penalty tax of ¥3.5 billion on Forever Living's Japan division for concealing income of 7.7 billion yen over the five-year period. Later that year, AVA, Rex and Ruth Maughan, Maughan Holdings, Gene Yamagata, and Yamagata Holdings sued the IRS for unauthorized disclosure of tax return information. In the midst of the lawsuit, The IRS asked the NTA to drop its decision against Forever Living, and in 2002, the agency "grudgingly complied with the IRS's request", announcing that the penalty tax had been effectively withdrawn. In February 2015, a USA district court ruled that the IRS knowingly provided some false information about AVA to the NTA, in violation of the United States' tax treaty with Japan. and awarded three of the plaintiffs one thousand dollars each in statutory damages.
In 2002, the Arizona Supreme Court reversed the findings of lower courts in a case in which Rex Maughan was accused of terminating an employee because the employee refused to sell a piece of land to Maughan.