Jay Adair
Jay Adair | |
|---|---|
| Born | Aaron Jayson Adair 1969 or 1970 (age 54–55)[1] |
| Nationality | American |
| Occupation | Businessman |
| Title | Executive Chairman, Copart |
| Term | April 2024 - present |
| Predecessor | Willis Johnson |
| Spouse | Tammi Johnson |
| Children | 2 |
| Relatives | Willis Johnson (father-in-law) |
Jay Adair (born 1969/1970) is an American billionaire businessman, the former Chief Executive Officer (CEO) and current Executive Chairman of Copart, a publicly traded company specializing in vehicle salvage and online auctions.[2][3] He is known for his role in advancing Copart’s business model, particularly its transition to online auctions.
Personal Life
[edit]Adair grew up in Orangevale in California.[4] He is married to Tammi Adair, daughter of Copart founder Willis Johnson. Together, they have two children.[1] In 1993, the family relocated to Suisun Valley in Fairfield, California where they planted a vineyard and began producing wine.[5][4] Their first wine was bottled in 2004 under the Tammi’s Vineyard Cabernet Sauvignon label.[5]
Career
[edit]Copart
[edit]Adair began his career at Copart in 1989 as a manager at the age of 19.[1][6] By 1990, he was promoted to Manager of Operations and Vice President of Sales and Operations.[3] In 1992, he was appointed to the company’s Board of Directors.[7]
In 1998, Adair oversaw Copart’s development of an online auction platform.[6] The move allowed the company to evolve from a salvage vehicle auction business into a technology platform connecting buyers and sellers around the world.[3]
In 2003, Adair introduced Copart's patented Virtual Bidding Second Generation (VB2) technology, transitioning its auctions from physical locations to an entirely online format, becoming one of the first auto auction company to adopt a fully online model.[3][6] In 2013, the VB2 platform was replaced with VB3, which is currently used by over 750,000 members across more than 170 countries.[3]
Adair became the CEO of Copart, taking over Willis Johnson as he stepped down, in February 2010.[7] He owns shares in the company worth more than $800 million.[2]
Adair Family Wines
[edit]Adair and his wife own Adair Winery in Suisun Valley, where they have long produced Tammi’s Vineyard Cabernet Sauvignon. In 2021, they expanded their operations with the acquisition of a neighboring property to turn Adair Winery into an estate winery open to the public.[5]
In October 2024, Adair purchased five wineries from Vintage Wine Estates for $85 million during bankruptcy proceedings.[8] Tere made through Adair Family Wines, a newly established entity, included Clos Pegase, Girard Wineries, B.R. Cohn, Kunde, and Viansa, along with 120 acres of vineyards and five tasting rooms.[9][8]
Political contributions
[edit]Together with his wife, Adair contributed $200,000 to Donald Trump's 2020 presidential campaign.[10]
References
[edit]- ^ a b c "Lunch with Jay Adair, CEO of Copart in Texas". Charity Buzz. Retrieved November 21, 2019.
- ^ a b Vickers, Emma (November 19, 2019). "This man is a junkyard billionaire". Bloomberg. Retrieved November 19, 2019.
- ^ a b c d e Much, Marilyn (February 6, 2020). "How Jay Adair Drove Copart On The Road To Success". Investor's Business Daily. Retrieved August 26, 2023.
- ^ a b Lander, Jess (October 25, 2024). "How a car auction billionaire plans to resuscitate these tarnished California wineries". San Francisco Chronicle. Archived from the original on October 25, 2024.
- ^ a b c Boone, Virginie (October 2, 2024). "Jay Adair Buys B.R. Cohn, Kunde and Viansa Wineries in Sonoma County". Sonoma County Winegrowers.
- ^ a b c "A. Jayson Adair". Forbes. Retrieved July 1, 2021.
- ^ a b "Jay Adair, Chief Executive Officer, Copart Inc". Bloomberg LP. Retrieved November 21, 2019.
- ^ a b Strayer, Pam (October 24, 2024). "Texas Billionaire Jay Adair's Buying Spree Nets Five VWE Wineries in Napa and Sonoma for $85 Million". www.winebusiness.com.
- ^ Quackenbush, Jeff (August 29, 2024). "B.R. Cohn, Viansa, Kunde among brands included in latest bid for Vintage Wine Estates assets". The North Bay Business Journal.
- ^ Tindera, Michela (February 19, 2021). "Here Are The Billionaires Who Donated To Donald Trump's 2020 Presidential Campaign". Forbes. Archived from the original on February 19, 2021. Retrieved June 13, 2023.
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