Arthur T. DeMoulas has come a long way since his family came to the U.S. in 1917 and opened DeMoulas Market, a grocery store in Lowell, Massachusetts. Fast forward to 2014 and under the trade name Market Basket, Arthur is the CEO and majority shareholder of a chain of 73 supermarkets in New Hampshire, Massachusetts and Maine.
From 1990 through late August 2014, the company was the center of a controversy over ownership and leadership, which culminated in protests receiving international media attention. On August 27, 2014, an agreement was reached between its feuding owners to sell the 50.5% stake of the company owned by the family of Arthur S. Demoulas to his cousin Arthur T. Demoulas for $1.5 billion.
While everything was going “right” for Arthur T. DeMoulas and DeMoulas Super Markets, the chain has long operated without a website and at one point, a fan was so frustrated that he built his own site at MyDeMoulas.net.
Three hundred miles away, domain name investor Steve Weber purchased Demoulas.com at least 15 years ago. At that time Weber bought lots of domain names as he went through Forbes list of wealthy people. According to Weber most of the domain names cost him about $150 to procure, plus annual maintenance fees.
So how much did the supermarket billionaire have to pay for his namesake DeMoulas.com? Weber confirms that he sold DeMoulas.com for the full asking price of $3,850 and Arthur T’s PR firm confirmed that they bought the domain name on Arthur T’s behalf.