E. Pierce Marshall
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E. Pierce Marshall (January 12, 1939 - June 20, 2006), was an American businessman and son of J. Howard Marshall II. He was publicly known for his long-running legal dispute with his father's third wife, Anna Nicole Smith.
He received his undergraduate education from Pomona College in 1961. He began his career at General Motors as an engine test engineer, followed by a brief tour with the U.S. Navy. After leaving the Navy, Marshall worked for the New York investment banking firm of Loeb Rhodes. He used this experience later when he entered the securities brokerage business in the 1980s.
Beginning in 1969, he moved to Houston to manage various investment projects with his father, including various roles at Koch Industries, International Oil&Gas and Marshall Petroleum. While continuing to work with his father he also worked with his father-in-law. In 1981, after his father-in-law's passing, he was elected Chairman of the Electron Corporation (an iron foundry concern). Later, he was appointed President of Electron and led the company through a successful turnaround. When his father's health began to deteriorate in 1993, he ceased his securities brokerage business, delegated his responsibilities at Electron and assumed operational responsibilities at Marshall Petroleum.
His father died in 1995, leaving him the bulk of the family fortune. Much of the estate has been tied up in state and federal courts as his brother and his father's widow sought to overturn the will and trust. In 2001, a jury in Texas upheld the estate and rejected all claims against him. Smith's legal dispute with him (Marshall v. Marshall) reached the U.S. Supreme Court on narrow technical grounds. The case has been remanded to the 9th Circuit to adjudicate the remaining appellate issue not previously reached.
In 2005, Forbes magazine estimated his fortune at $1.7 billion, a valuation he rejected. Marshall was one of three voting shareholders of Koch Industries when he died of a brief but aggressive infection on June 20, 2006, age 67.
