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Doug McMillon Net Worth

Doug McMillon net worth

What is Doug McMillon net worth ?

Net worth$100 million
NameCarl Douglas McMillon
Date of birthOctober 17, 1966
Occupationbusinessman
NationalityAmerican
Current Jobpresident and chief executive officer (CEO) of Walmart Inc

Doug McMillon net worth : Carl Douglas McMillon  is an American businessman, and the president and chief executive officer (CEO) of Walmart Inc. He sits on the retailer’s board of directors. Doug McMillon net worth is $100 million. Keep reading to find more

Early life

McMillon was born in Memphis, Tennessee, and grew up in Jonesboro, Arkansas, the eldest of three children born to Laura and Morris McMillon, a dentist who served in Vietnam. His parents moved the family to Bentonville, Arkansas, the home of Walmart headquarters, when McMillon was 16.

McMillon lives with his wife, Shelley, in Bentonville, Arkansas. They have two sons. Doug McMillon is a born-againChristian

Career

When he was a teenager, McMillon began his first job with Walmart as a summer associate. He worked during the summer unloading trucks in a distribution center. After high school, McMillon attended University of Arkansas, where he graduated with a bachelor’s degree in 1989.

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McMillon studied for a Master of Business Administration (MBA) from University of Tulsa, he called Walmart and told an executive he was interested in training to become a buyer when he completed his studies. Soon thereafter, McMillon rejoined Walmart as an assistant manager at a Tulsa, Oklahoma, store.

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 After completing his MBA in 1991, McMillon moved to Walmart’s Bentonville headquarters to join the buyer-training program.

Originally in charge of buying fishing tackle, he later took on various roles as a buyer and a merchandiser, dealing in food, clothes, crafts and furnishings.

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 He later worked as a general merchandise manager for Walmart’s wholesale store division Sam’s Club before taking an executive role at Walmart, overseeing toys, electronics, and sporting goods, among other areas.

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Walmart promoted McMillon to president and CEO of Sam’s Club on August 4, 2005. Under McMillon, the wholesaler emphasized marketing to small business customers.

CEO of Walmart, Inc.

Doug replaced  Mike Duke as Walmart CEO in 2014. He is the company’s 5th CEO since its inception.

Within his first two years as chief executive, McMillon raised wages for hourly workers in the US, boosted the company’s commitment to e-commerce and revamped Walmart’s executive team.

In February 2015, McMillon announced Walmart would invest an additional US$2.7 billion in higher associate wages, benefits and training, including raising its lowest wage to US$9 an hour in 2015 and US$10 an hour for 2016. The action affected 40 percent of the company’s 1.4 million US workers.

 In January 2016, McMillon announced raises for the majority of its workers, free basic short-term disability for full-time workers and a revised paid time off program.

In September 2019, McMillion announced that the company would no longer sell ammunition used for handguns and military-style weapons. This policy update came as a result of the mass shooting which took place at a Walmart in El Paso, Texas in August 2019.

McMillion’s actions to create a dialogue and take actions around the issue, set a new precedent for how corporations and their leaders address these matters.

Doug McMillon Net Worth

Doug McMillon net worth is $100 million. According to reports, McMillon takes an annual salary of $22.574 million. He is the youngest CEO to lead the company since founder Sam Walton helms the world’s largest private workforce, with 2.3 million employees.

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Achievements

In December 2016, McMillon joined a business forum assembled by then president-elect Donald Trump to provide strategic and policy advice on economic issues.

Forbes named McMillon to its World’s Most Powerful People list in 2014, 2015 and 2016 where he ranked No. 29, No. 32, No. 27 respectively.

ExecRank ranked McMillon No. 4 on its 2015 list of top CEOs for large companies

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