John Menard net worth 2023: John Robert Menard Jr is an American billionaire businessman, and the founder and owner of Menards, a Midwestern chain of home improvement stores. He is a former INDYCAR racing team owner, and the father of former NASCAR Cup Series driver Paul Menard. He is the son of John Robert Menard Sr (1917–1988).
John Menard net worth and Biography
| Net worth | $20 billion |
| Date of birth | January 22, 1940 |
| Occupation | founder of Menards |
| Nationality | American |
As of 2023, John Menard net worth is valued at $20 billion making him one of the richest people in the world. He is a former INDYCAR racing team owner, and the father of former NASCAR Cup Series driver Paul Menard.
Biography
The oldest of eight siblings in a Catholic family with German, French-Canadian, and Norwegian roots, Menard attended Eau Claire Regis High School. He graduated from the University of Wisconsin–Eau Claire with a degree in business and a minor in psychology. Menard began his career constructing pole buildings with friends from college.
He made his home in Eau Claire, Wisconsin. Menard has six children, and married his third wife, Faiha Obaid, in 2008. He is Roman Catholic.
In 1997, Menard was caught using his own pickup truck to haul plastic bags filled with chromium and arsenic-laden wood ash to his home for disposal with his household trash. Menard pleaded no contest to felony and misdemeanor charges involving records violations, unlawful transportation, and improper disposal of hazardous waste. Menard and his company were fined $1.7 million for 21 violations.
In 2013 the IRS ordered Menard to pay $6 million in back taxes after he allegedly mischaracterized $20 million as salary, not dividends, deducting it as a business expense. In a separate case, the Wisconsin Supreme Court forced Menard to pay $1.6 million to a former legal counsel to compensate for gender discrimination and gross underpayment.
In April 2020, Menard was among several businessmen named to the economic advisory group established by President Donald Trump
Founding Menards
Menard opened his first hardware store in 1964. As of 2014, his company owned 287 Menards stores. As of 2005, Menards grossed an estimated $5.5 billion in sales. Menard had a net worth of $8.6 billion in 2013, according to the Forbes 400, and is the richest person in Wisconsin.
Paul Menard, John Jr.’s son, raced sixteen years in the NASCAR Cup Series, winning the 2011 Brickyard 400. Menard also owns an engine shop in the United Kingdom that produced engines for Team Menard and Robby Gordon Motorsports, the former of which, owned by Menard, won the 1997 and 1999 Indy Racing League championships
Menards is a primary sponsor of the Team Penske #2 Ford Mustang. They are also primary sponsors of his teammate in the #12 Mustang Ryan Blaney in the NASCAR Cup Series. In the NASCAR Xfinity Series, Menards sponsors the Joe Gibbs Racing #19 Toyota Supra with driver Brandon Jones.
Menards-sponsored cars are easily recognizable on tracks, as they are typically painted with a fluorescent yellow livery.
John Menard net worth
As of 2023, John Menard net worth is valued at $20 billion. John has made several donations. In 2019, The Menard family donated $5 million to the Drug Enforcement and Policy Center at Ohio State University’s Moritz College of Law. In addition to supporting the center’s research, engagement, and student enrichment, the donation also supports an endowed lecture and an annual national conference
Source: Glusea
