Wealthy Pilot and CEO of Precision Lens Paul Elhen has been reported dead in a plane crash, but, how big was his fortune; what was his net worth?
On June 27, 2023, the founder of a successful medical supply company died after being involved in a single-engine plane crash involving a vintage World War II-era aircraft.
Paul Ehlen, the owner of Precision Lens in Bloomington, Minnesota, died on Tuesday morning shortly after taking off from Hamilton Airport in Montana. The Sun reports that his twin-engine plane crashed after it experienced a mechanical failure.
“Paul had a passion for restoring and flying vintage military aircraft, and he was killed this morning when the single-engine P-40 he was flying back to Minneapolis suffered a mechanical failure on takeoff.
“Above all else, Paul was a family man, and our thoughts and prayers are with his wife and children whom he loved so dearly.”
While many are saddened by this misfortune, many who were driven by his entrepreneurial spirit are curious to know more about his fortune; like, how much he was worth before his death. Read on for more details about his company, income sources, and more about his finances.
Credit: Facebook
How rich was Paul Ehlen?
Paul Ehlen’s net worth has been in the interest of fans after the Minnesota businessman tragically lost his life in a plane crash on June 27, a Tuesday morning in Montana.
Paul Ehlen had a remarkable career spanning over three decades, during which he made significant contributions to the ophthalmic industry.
In 1991, Ehlen co-founded Precision Lens, a medical distribution company initially known as the Cameron Ehlen Group with Ken Cameron.
The company specializes in manufacturing lenses, viscoelastic, surgical, and pharmaceutical products related to eye care.
Venturing into the eye business requires extensive research, passion, and relentless efforts, and Ehlen proved to be a dedicated specialist and businessman.
Throughout his career, Ehlen demonstrated his expertise not only in the technical aspects of the industry but also in marketing and persuasion.
However, despite his accomplishments, Ehlen and his company faced a recent setback when the federal government ordered them to pay a hefty fine of $487 million for violating federal law.
So, what was Paul Ehlen’s net worth? Medical distribution company, Precision Lens founder Paul Ehlen had an estimated current net worth of $10 million. He made his fortune from being a Pilot and medical practitioner. His company specializes in ophthalmic surgical products, according to its website.
Ehlen was also involved in real estate and owned an extensive collection of vehicles. These ventures likely contributed to his overall wealth. Moreover, given the scale of his business and the large turnover it generated annually, Ehlen’s wealth continued to grow steadily.
Ehlen and Cameron created Precision Lens with the vision of “a company that could provide unmatched speed and customer service across the midwest.”
With over 30 years of experience, Precision Lens had a significant impact on the American lens society. Ehlen’s company boasted a team of professionals and specialists contributing to its success.
This included Equipment Sales Specialist Dave Bjerke, Surgical Sales Specialists Chad Burger, Gavin Clark, Dan Eull, Cresa Gardner, Patrick McConachie, Ian Norman, Pat Reichart, Matthew Reidinger, Eric Schurhamer, and Tom Spahn.
Their collective expertise and dedication helped drive Precision Lens forward.
What actually happened to Paul Ehlen?
The Curtiss Wright P-40E aircraft went down at around 8 am on private farmland in Hamilton, about 50 miles south of Missoula, after experiencing a mechanical failure on takeoff, Precision Lens said in a statement.
Ehlen was the pilot and sole occupant in the aircraft, the Ravalli County Sheriff’s Office said.
The Precision Lens owner died on impact, police said. “Precision Lens is saddened by the passing earlier today of its founder Paul Ehlen,” the company said in a statement to Minneapolis NBC affiliate KARE.
“Paul had a passion for restoring and flying vintage military aircraft, and he was killed this morning when the single-engine P-40 he was flying back to Minneapolis suffered a mechanical failure on takeoff.
“Above all else, Paul was a family man, and our thoughts and prayers are with his wife and children whom he loved so dearly.”
The Federal Aviation Administration and National Transportation Safety Board are investigating the crash.