Chair, Chief Executive, Harbor Freight Tools
Smidt co-founded Calabasas-based Harbor Freight in 1977. Smidt was 17 years old when he turned his father’s phone sales business into a mail-order tool business. In 1985 he became Harbor Freight’s president. He took on the role of chief executive in 1999, when he bought out his father. Harbor Freight operates more than 1,300 stores and generates about $6.5 billion in annual revenue. Smidt serves on the board of trustees of the Los Angeles County Museum of Art. Smidt also founded and chairs The Smidt Foundation, which reported close to $300 million in assets as of the end of 2021.