Early Life
William Young was born in 1940. In 1967, he graduated with a degree in engineering from the University of Detroit. Young started Plastipak in 1967 with his father. They were in the right place at the right time when the plastics industry took off in the mid-1960s.
Rise to Success
Young is the CEO of Plastipak, which manufactures over 20 billion plastic containers annually. The company produces containers for major brands such as Procter & Gamble, Pepsi, and Kraft Foods. In 1982, the family re-acquired Plastipak.
Key Business Strategies
Plastipak focuses on innovation in plastic packaging, recycling, and sustainability. Young spearheaded the development of closed-loop recycling systems and lightweighting technologies. The company holds over 500 U.S. patents for package design and manufacturing processes. Plastipak has manufacturing facilities in the U.S. and seven other countries. In 2012, Goldman Sachs bought a minority stake in the family-owned business, but the Young family bought out Goldman by 2020.
Philanthropy
William Young supports educational initiatives through the Young Family Foundation.
