The tension reached a boiling point in 2010 when Allan Smidt, then 81, sued his son for allegedly "looting" the company. The allegations were sensational: Allan claimed Eric used company assets to fund a lavish lifestyle, including: A . A $20 million Manhattan apartment . A single painting worth $100 million .

In 1977, Allan Smidt and his son, Eric, launched in North Hollywood. It didn’t start with neon signs and massive warehouses; it began as a lean mail-order business dealing in liquidated and returned merchandise.

As Harbor Freight grew into a multi-billion-dollar giant, the relationship between father and son shifted. In 1999, Eric became the sole shareholder after paying $21 million for his father's stake. However, the transition was far from smooth.

Allan Smidt started with a small warehouse and a vision for affordable tools; he ended up leaving behind one of the most successful private companies in America and a story that reminds us how complicated the intersection of family and massive business can be. Harbor Freight CEO accused by parents of 'looting' company