Clemmie Spangler Jr. Biography & Net Worth 

The late Clemmie Spangler Jr. was an American businessman who originated from Charlotte, North Carolina, in the United States, and even completed his first degree at the University of North Carolina before attending Harvard University where he completed his MBA. Mr. Spangler, a former owner of National Gypsum, was married with two children, and sadly passed away on the 22^nd of July 2018 at the age of 86. He became the head of the Bank of North Carolina after his graduation. The bank which was founded by his father eventually merged with NCNB and became Bank of America. He served as the president of the University of North Carolina for eleven years starting from 1986 to 1997. More credible information regarding today’s topic of interest is available in the article below.

Early Life

He was born Clemmie Dixon Spangler Jr. on April 5, 1932, in Charlotte, North Carolina, United States. He earned his bachelor’s degree from the University of North Carolina at Chapel Hill and received a master’s degree in business administration from Harvard University.

Spangler’s father, Clemmie Dixon Spangler Sr., founded the bank of North Carolina, as well as the C. D. Spangler Construction Company.

Professional Life

After completing his graduation in 1958, Clemmie Spangler joined his father’s establishment, the C.D. Spangler Construction Company, and became its president, a position he maintained for 28 years. From there, he went on to head his father’s financial management institution, the Bank of North Carolina, which he later merged with NCNB in 1982. NCNB is now part of Bank of America.

Clemmie Spangler marked his entrance into public service in the 1970s when he joined the

Charlotte-Mecklenburg Board of Education as a member. From 1982 to 1986, he served as the chairman of North Carolina’s Board of Education. From 1986 to 1997, he served as president of the University of North Carolina. As president of the University system, he was a staunch advocate for keeping tuition fees low, and he reportedly donated his salary to individual campuses in the University of North Carolina’s system.

In 1995, Mr. Spangler spent the sum of $1.2 billion in the acquisition of the National Gypsum through Delcor Inc., a private investment firm controlled by him. He had been serving as the chairman of the National Gypsum and owned 20 percent of the company before buying it out completely.

Personal Life

Spangler was married to Meredith Riggs Spangler until his passing in 2018. She graduated from Wellesley College in 1955. Her parents were Arad McCutchan Riggs and Frieda Wildy Riggs. Their union produced two daughters, Abigail Riggs Spangler and Anna Spangler Nelson. Ms. Anna Spangler Nelson is a member of the University of North Carolina Board of Governors. In 1990, Ms. Anna Wildy Spangler married Harvard Business School graduate Thomas C. Nelson, who has been the chairman and chief executive officer of National Gypsum since 1999. In 1995, Abigail Riggs Spangler tied the knots with American attorney Jeffrey Donald Nuechterlein, son of Donald Nuechterlein who was a professor of international relations at the Federal Executive Institute.

The C.D. Spangler Jr. Building is named for Mr. C.D. Spangler and serves as the main building, along with the Meredith Riggs Spangler Building, for the University of Northern Carolina System offices.

As a hobby, Mr. Spangler liked to fix old clocks. He died on the 22^nd of July 2018 at the age of 86.

Philanthropy

Mr. Spangler was the President of Harvard University’s Board of Overseers for less than a year until 2004. Harvard Business School Spangler Centre is named for him.

Through his C.D. Spangler Foundation, the late businessman donated to a number of institutions and organizations, including Charlotte’s Teach for America, the University of North Carolina, and Harvard University.

Clemmie Spangler, Jr. Net Worth

Prior to his passing in 2018, Clemmie Dixon Spangler, Jr. had a net worth of more than $2 billion dollars, thanks to the success he enjoyed during the peak of his career as a dedicated businessman who took over management of his father’s financial establishment, the Bank of North Carolina while it was struggling, and helped save it from completely collapsing by leading it with professional care until its merger with the North Carolina National Bank, which later merged with Bank of America. He also headed the building materials company National Gypsum, and also served in prominent roles at organizations like the Board of Education in North Carolina, the University of North Carolina, and the C.D. Spangler Foundation, among others. Spangler’s father, Clemmie Dixon Spangler Sr., founded the bank of North Carolina, as well as the C. D. Spangler Construction Company.