[2] His parents farmed near Rockwell City and Somers, Iowa, and later moved to rural Elkhart and Ankeny.
After Monsanto's patent ran out on glyphosate in 2001, the chemical used in their best-selling herbicide Roundup, Albaugh began to sell a generic version of the product and bought a factory in Argentina to make it at a competitive price, allowing him to expand the business worldwide.
[4][5][6] Albaugh started the collection with the purchase in 1998 of a 1957 Chevy Bel Air convertible from a golfing friend and told his wife he would stop when he completed the Tri-Five Chevrolets, the 1955, 1956 and 1957 models.
[7] His collection of about 150 vehicles, mostly convertibles, includes the Tri-Five Chevrolets as well as Chevy models from 1912 to 1975 and is housed in a 28,000-square-foot (2,600 m2) garage in Ankeny.
[1][6][8] In August 2018, he sold his 10,000-square-foot (930 m2) house in Ankeny to Todd Rueter, an Elkhart businessman, for $2.32 million, having built a slightly smaller 8,773-square-foot (815.0 m2) home nearby.