Most well known for founding and heading a cosmetics marketing company called Forever Living Products, Maughan later established an affiliated resort chain. In 2002, with a net worth of six-hundred-million dollars, he made Forbes' list of the 400 Richest Americans.
After transferring from Brigham Young University, he earned a bachelor's degree in accounting from Arizona State University. Before founding Forever Living Products, he worked for over a decade for the Del E. Webb Construction Company.
A philanthropist as well as a businessman, Maughan helped preserve the Samoa homestead of Treasure Island and Strange Case of Dr. Jekyll and Mr. Hyde writer Robert Louis Stevenson.
He spent his early years in Logan, Utah and Soda Springs, Idaho. He and his wife, Ruth, raised their three children in the Mormon faith.
He donated to the 2008 and 2012 presidential campaigns of Republican candidate Mitt Romney.