C O N F I D E N T I A L I N F O R M A T I O N
The St Joe Company was founded in 1936 as part of the Alfred I. duPont Testamentary Trust by du Pont’s brother-in-law Edward Ball.
Prior to its establishment, the trust had already begun land purchases,making its in 1923, acquiring cheap land in the Florida Panhandle.
Land purchases continued throughout the 1940s and 1950s, and St Joeeventually owned more than a million acres at “a couple bucks per acre.”
The company invigorated the local economy following the Depression,employing thousands at its paper mill, but ultimately exited the businessafter nearly sixty years, selling the mill to Florida Coast Paper for $390million in 1996.
Following Ball’s death in 1981, the company began to sell off its industrialoperations and focus on land development. Peter Rummell, formerchairman of Walt Disney Imagineering, was hired in 1997 to lead theirreal estate business and became Chairman and CEO.