Doug McMillon Net Worth
| Category | Information |
|---|---|
| Net Worth | $300 million |
| Salary | $22 million |
| Birthdate | October 17, 1966 |
| Birthplace | Memphis, Tennessee |
| Gender | Male |
| Height | N/A |
| Profession | Businessman |
| Nationality | American |
Table of Contents
- What is Doug McMillon’s Net Worth?
- Highlights
- Early Life
- Career
- Personal Life
- Net Worth Over Time
- Components of Net Worth
What is Doug McMillon’s Net Worth?
Doug McMillon, an American businessman, has a net worth of $300 million. He currently serves as the president and CEO of the retail corporation Walmart. McMillon assumed these positions in 2014, after leading the company’s international division from 2009 to 2013. Prior to that, he was the leader of Walmart’s Sam’s Club division from 2005 to 2009.
Highlights
– Net Worth: $300 million
– Salary: $22 million
– Birthdate: October 17, 1966
– Birthplace: Memphis, Tennessee
– Gender: Male
– Profession: Businessman
– Nationality: American
Early Life
Doug McMillon, born as Carl Douglas McMillon, on October 17, 1966, in Memphis, Tennessee, is the oldest of three children of Laura and Morris. He was raised in Jonesboro, Arkansas, until the age of 16 and then moved with his family to Bentonville, where Walmart is headquartered. McMillon attended Bentonville High School and played as a point guard on the school’s basketball team. He pursued higher education at the University of Arkansas in Fayetteville, where he earned his BA in 1989. Later, he obtained his MBA from the University of Tulsa in 1991.
Career
McMillon’s involvement with Walmart started in 1984 when he worked for the company as a summer associate unloading trucks at a distribution center. He joined the buyer training program at Walmart headquarters in Bentonville after completing his MBA studies. Throughout his career at Walmart, he took on various roles as a buyer and merchandiser, dealing in food, clothes, furnishings, and crafts.
In the summer of 2005, McMillon was promoted to the position of president and CEO of Sam’s Club, Walmart’s wholesale store division. During his tenure, he focused on marketing to small-business customers and implemented a strategy to compete with Costco by placing expensive premium items next to cheap bulk goods.
In early 2009, McMillon became the head of Walmart’s international division, overseeing the company’s operations and expansion in countries such as Canada, the United Kingdom, and China. Under his leadership, Walmart International experienced significant sales growth, surpassing Walmart in the United States. During his time leading the division, Walmart International operated 6,300 stores in over 25 countries and acquired a majority stake in Massmart Holdings, a South African company.
On February 1, 2014, McMillon was appointed CEO of Walmart, taking over leadership during a challenging period of increased competition and lagging growth. As CEO, he implemented several initiatives to enhance Walmart’s performance, including raising wages for hourly workers, expanding the company’s e-commerce presence, and improving environmental sustainability. He also made significant social and political impacts, urging for inclusion and making decisions to cease selling controversial merchandise.
Personal Life
Doug McMillon is married to Shelley, and they have two sons named Blake and Spencer. He identifies as a born-again Christian.
Net Worth Over Time
McMillon’s net worth is estimated at $300 million. Throughout his career at Walmart, he has earned a significant salary and stock options. As of this writing, he owns 1,632,318 shares of Walmart, worth around $250 million. Additionally, he has sold approximately $140 million worth of Walmart shares over the years.
Components of Net Worth
McMillon’s net worth primarily consists of his salary, stock holdings, and other investments. His salary in a typical year is $22 million, and he has the potential to earn over $120 million in stock options based on certain milestones. With his extensive share ownership in Walmart, the value of his stock holdings contributes significantly to his net worth. Additionally, he may have investments in other assets, but precise details are not publicly available.
In conclusion, Doug McMillon’s net worth of $300 million reflects his successful career at the helm of Walmart, his earnings from salary and stock holdings, and his financial achievements as a business leader.
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