Craig Jelinek Net Worth 2024

What is Craig Jelinek’s net worth and wage?

Craig Jelinek is an American businessman who has a net worth of $150 million. Craig Jelinek earned his fortune because of a protracted profession at low cost membership Costco. Craig is the present CEO of Costco, a task he ascended to in 2012 upon the retirement of firm co-founder Jim Sinegal. As of this writing, Craig is Costco’s largest declared particular person inventory holder. He owns 333,000 shares of Costco immediately, which is roughly 0.08% of the corporate’s complete shares excellent. More information on his inventory holdings within the subsequent paragraph.

Costco Stock Holdings

As of this writing, Craig owns 333,000 shares of Costco. In April 2022 when Costco inventory briefly hit $600 per share, that stake was value $200 million. In latest years the stake’s worth has fluctuated between $100 and $150 million.

Salary

Craig Jelinek’s base wage is $800,000. He additionally earns extra cash within the type of bonuses and inventory grants. For instance, in 2018 he earned $800,000 in base wage, $97,000 in bonus, $6.3 million in inventory grants and $200,000 in retirement contributions. His predecessor, Jim Sinegal usually earned $350,000 in base wage however $3-4 million in complete compensation when bonuses and inventory awards had been included.

Creative Commons

Biography

Walter Craig Jelinek was born in California in August 1952. He graduated from Antelope Valley High School in 1970 then enrolled at San Diego State University the place he graduated in 1975. His future Costco mentor Jim Sinegal additionally attended SDSU, having graduated in 1959.

One of Craig’s first job’s out of faculty was at FedMart, a series of low cost shops. Coincidentally, Jim Sinegal was additionally an alum of FedMart, having labored there as a bagger throughout college. FedMart was based by an entrepreneur named Sol Price. In 1975, the 12 months Craig graduated from SDSU, Sol Price was pressured out of FedMart by the corporate’s Board of Directors. A 12 months later he based Price Club, which is mostly thought-about to be the world’s first main bulk low cost warehouse membership idea.

While this was occurring, Craig Jelinek was working for grocery chain Lucky Stores.

• Price Club went public in 1980.
• Costco was based in 1983.
• Craig went to work at Costco in 1984.
• His early title was supervisor of warehouse operations.
• Costco went public in 1985.
• The two firms merged in 1993 and have become PriceCostco.
• In 1997 all shops had been rebranded as Costco.
• In 2004 Craig was promoted to Costco’s head of operations and merchandising.
• In 2012 Craig Jelinek turned CEO of Costco.

Costco was the second largest retailer on this planet in 2015 and by 2016 it was the world’s largest retailer of natural meals, alternative and prime beef, wine, and rotisserie hen.

In 2022 Costco generated $222 billion in income.

Hot Dog Quote

Costco has famously saved the value of sizzling canine from its eating places locked at $1.50 at the same time as inflation raised the costs of many different merchandise. According to legend, in the future Craig Jelinek approached CEO Jim Sinegal and complained that the corporate was dropping cash on each sizzling canine it offered.

Here’s how the dialog allegedly went, based on an interview with Jelinek:

Jelinek: “I got here to (Sinegal) as soon as and I stated, ‘Jim, we will not promote this sizzling canine for a buck fifty. We are dropping our rear ends.’“

Sinegal: “If you elevate the value of the effing sizzling canine, I’ll kill you. Figure it out.“