Contents
What is Doug McMillon’s Net Worth and Salary?
Doug McMillon is an American businessman who has a net worth of $300 million. Doug McMillon serves because the president and CEO of the retail company Walmart. He assumed these positions in 2014 after having led the corporate’s worldwide division from 2009 to 2013. Before that, from 2005 to 2009, McMillon led Walmart’s Sam’s Club division.
Salary and Stock Holdings
Doug McMillon’s wage in a typical 12 months is $22 million. Over time he has the power to earn greater than $120 million in inventory choices after sure milestones.
As of this writing, Doug McMillon owns 1,632,318 shares of Walmart. Using $150 a share, that stake is price $250 million. Over his 20 years on the firm, Doug has offered round $140 million price of Walmart shares.
Early Life and Education
Doug McMillon was born as Carl Douglas McMillon on October 17, 1966 in Memphis, Tennessee because the oldest of three youngsters of Laura and Morris. He was raised in Jonesboro, Arkansas till the age of 16, after which moved together with his family to Bentonville, the place Walmart is headquartered. There, McMillon attended Bentonville High School, and performed as some extent guard on the varsity’s basketball staff. He went on to attend the University of Arkansas in Fayetteville, from which he earned his BA in 1989. McMillon later earned his MBA from the University of Tulsa in 1991.
Career Beginnings at Walmart
McMillon first grew to become concerned with Walmart as a teen in 1984, when he labored for the corporate as a summer time affiliate unloading vans at a distribution middle. On his first day of labor, he rear-ended his boss’s automotive. Later, whereas attending his MBA program on the University of Tulsa, McMillon grew to become an assistant supervisor at a Walmart in Tulsa. He ultimately moved again to Bentonville, Arkansas after finishing his research and joined the customer coaching program at Walmart headquarters. Initially put answerable for shopping for fishing deal with, he ultimately took on a wide range of roles as a purchaser and merchandiser, dealing in meals, garments, furnishings, and crafts.
Sam’s Club
In the summer time of 2005, McMillon was promoted to president and CEO of Walmart’s wholesale retailer division, Sam’s Club. Under his management, the wholesaler put an emphasis on advertising and marketing to small-business clients. McMillon additionally employed the tactic of putting costly premium gadgets subsequent to low-cost bulk items, a transfer designed to compete with Costco’s comparable technique.
Walmart International
McMillon was moved to the top of Walmart’s worldwide division in early 2009, changing Mike Duke, who grew to become CEO of Walmart. With McMillon in cost, the worldwide division centered on bettering markets in such nations as Canada, the United Kingdom, and China. Additionally, the division acquired a majority stake within the South African firm Massmart Holdings. During McMillon’s tenure main Walmart International from 2009 to 2013, the division’s gross sales development outpaced Walmart within the United States. By the time McMillon left, Walmart International was working 6,300 shops in over 25 nations.
Getty
Walmart CEO
On February 1, 2014, McMillon was appointed CEO of Walmart. He took over management of the corporate throughout a time of lagging development and elevated exterior competitors, with the first rivals being Costco, Amazon, Kroger, and Safeway. Within his first two years as CEO, McMillon raised wages for hourly employees within the United States, enhanced Walmart’s e-commerce presence, and revamped the corporate’s govt staff. In early 2016, he introduced raises for almost all of Walmart employees, and likewise supplied free primary short-term incapacity for full-time employees. To develop the corporate’s e-commerce choices, McMillon invested closely in on-line operations to the tune of $1 billion. He additionally labored to enhance Walmart’s environmental sustainability by changing a lot of its retailer lighting with LED lights for vitality effectivity.
McMillon additionally sought to make a constructive distinction within the political sphere whereas serving as CEO of Walmart. In 2015, he urged Arkansas governor Asa Hutchinson to veto the state’s “non secular freedom” invoice, which he denounced as a menace to the “spirit of inclusion.” Also that 12 months, McMillon introduced that Walmart would stop promoting Confederate flag merchandise and semiautomatic weapons, in response to a mass capturing at a church in Charleston, South Carolina. Later, in 2019, he introduced the corporate would cease promoting ammunition for handguns and military-style weapons, a call catalyzed by a mass capturing at a Walmart in El Paso, Texas.
Personal Life
With his spouse Shelley, McMillon has two sons named Blake and Spencer. McMillon is a born-again Christian.
Bentonville Estate
Doug’s major house is a 41-acre property in Bentonville, Arkansas (the identical hometown of Walmart). The property’s major residence is 8,200 sq. feet.
All web worths are calculated utilizing knowledge drawn from public sources. When offered, we additionally incorporate non-public ideas and suggestions acquired from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as attainable, until in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button beneath.
