Doug McMillon Net Worth
|Date of Birth||October 17, 1966|
|Age||55 years old|
|Height||5 ft 8 inch (1.78m)|
|Profession||Chief Executive Officer of Walmart|
|Net Worth||$100 million|
Doug McMillon Introduction
Douglas McMillon is a most famous American businessman who serves as the president and CEO of Walmart Inc. He is a member of the company’s management board.
He started the firm as a summer associate in high school and rose through the ranks to become the company’s sixth CEO in 2014.
Doug McMillon Early Life & Personal Life
McMillon was born in Memphis, Tennessee, and attended high school in Jonesboro, Arkansas. McMillon is the eldest of three brothers and sisters. During the Vietnam War, his father worked as a dentist for the US Military. When he was 16, his parents relocated to Bentonville, Arkansas, where Walmart’s headquarters are located.
McMillon enjoyed athletics in high school and was a member of the Bentonville High School basketball squad. McMillon, who has worked for Walmart his whole life, still resides in Bentonville with his spouse, Shelly. They have two sons combined. McMillon is currently 55 years old and the 8th oldest executive at Walmart Inc.
McMillon attended Bentonville High School and then earned a BA from the University of Arkansas. He moved on to get a Master of Business Administration (MBA) at the University of Tulsa after finishing.
Throughout this period, he approached a Walmart executive and expressed an interest in becoming a buyer after earning his MBA. This is when his Walmart adventure started.
Doug McMillon Age, Height, & Weight
Being born in 1966, on the 17th of October “Doug McMillon” age is 55 years old as of today date and his height is 5 feet 8 inches tall, (1.78 m), and his weight is 80 kilograms and (176 lbs) in pounds as of 2022.
Doug McMillon Career
Everyone is familiar with the name Walmart. It has become a household brand across the world, even in nations where the business does not exist. The goal of the firm is to assist people to save money plus live better lives. Walmart continues to promote higher living standards and also be a pioneer in corporate charity, creating jobs, as well as sustainability.
McMillon has worked at Walmart his entire life. Throughout high school, he started his first employment with the firm at the age of 16, in 1984. During his summer vacation, he worked. In a Walmart distribution center, he was responsible for unloading vehicles.
He returned to the firm as a Management Trainee at one of the retailer’s Tulsa stores in Oklahoma a few decades previously, while getting his MBA. He returned to Bentonville after finishing his MBA to operate at the company’s headquarters.
He enrolled in the buyer-training program. Initially, he was in response to purchasing fishing equipment, but he eventually moved on to new responsibilities as a merchandiser as well as a buyer dealing with furniture, food, clothing, and so on.
He was later promoted to general merchandising manager at Sam’s Club, Walmart’s wholesale shop. He then moved on to executive positions at Walmart.
McMillon was appointed CEO of Sam’s Club by Walmart in August 2005. McMillon pioneered several novel tactics. He emphasized the need for advertising for small enterprises.
Furthermore, he used the well-known marketing technique known as “treasure hunt goods” by the Wall Street Journal. Treasure Hunt products are a limited number of luxury products that are shown alongside inexpensive bulk goods for sale.
These might include pricey vacation wines or high-end jewelry such as diamond necklaces. This was Sam’s Club’s attempt to stay relevant with Costco.
McMillon was appointed to oversee Walmart’s international division in February 2009. He succeeded Mike Duke, who became CEO of Walmart Inc. The international division’s priority under McMillon’s supervision was on enhancing the internationally existing industry in the Americas, China, the United Kingdom, as well as Canada.
McMillon spent time working on extending Walmart’s current low-price concept to other markets. Under McMillon, the international sector hit new heights when it acquired a controlling share in South African Massmart Holding Company for US 2.4 million dollars.
Another achievement under McMillon’s direction was the overseas division’s excellent sales ratio. The overseas division’s sales growth outpaced that of the US-based retailers. It accounted for 29 percent of the company’s overall sales.
When McMillon started with the International Division, it had 3300 outlets in 14 different countries. He had increased the worldwide division to 6300 outlets in 26 countries by the time he was elevated to CEO of Walmart Inc. He had contributed 12 more sites to Walmart’s portfolio, bringing the total number of stores to 3000!
McMillon was promoted to CEO and joined the board of directors by Walmart Inc. at the end of 2013. His CEO post is scheduled to take effect on February 1st, 2014. When McMillon came, the firm was going through a rough patch. Slow growth was combined with growing rivalry from retailers such as Costco, Amazon web services, and smaller chains such as Dollar General as well as Family Dollar at the time.
McMillon immediately restructured the whole leadership team, made improvements to promote Walmart’s e-commerce, and increased workers’ hourly salaries.
While this action had a negative impact on the firm in the near term by cutting earnings, McMillan’s argument was that it would lead to happier customers and employees, better service, and a stronger position in the retail market in the long run. McMillon decided in February 2015 to invest an additional 2.7 billion dollars in greater associate salaries, benefits, and employee training.
This also meant that the lowest-paid worker’s hourly wage would rise to $9 US dollars. This hourly wage was raised to ten dollars per hour in 2016. This decision affected 40% of the company’s 1.4 million employees. Additionally, in January 2016, McMillon declared additional improvements for the majority of workers, including free basic relatively brief disability for full-time Walmart employees and a reform of the paid time off program.
McMillon’s objective for greater investment was to provide clients with a “seamless shopping experience.” In 2015, he pledged $1 million to Walmart’s e-commerce efforts. Another high-level aim was to reduce waste as much as possible while increasing the company’s environmental sustainability.
For example, in 2014, all Walmart shops in the United States, the United Kingdom, Latin America, and Asia changed their lighting with LED electricity lighting. McMillon highlighted three future goals for Walmart at the 2016 Davor Worldwide Economic Conference: employ renewable power at the company’s shops, warehouses, and headquarters, minimize waste as much as possible and use sustainable ecologically friendly packaging for its items.
McMillon was named on Forbes’ list of the Wealthiest People In The World three times, in 2014, 2015, and 2016. He finished 29th, 32nd, and 27th, in that order. McMillon was placed fourth on ExecRanks’ list of best CEOs for large corporations in 2015.
Doug McMillon Net Worth
Doug McMillon’s compensation as President and Chief executive officer of Walmart Stores is believed to be $4.8 million. As of 2022, his personal wealth is predicted to just be $100 million.
In 2015, he made $21.8 million in total remuneration. Doug McMillon is a well-known and renowned businessman who holds a number of prestigious titles.
His work ethic, perseverance, and hard labor won him several positions inside Walmart before becoming CEO of the world’s most profitable grocery company.
Entrepreneurs look up to him as an inspiration. His inspiring talks encourage new entrepreneurs to succeed.
He intends to supply Walmart with additional nations as well as more items in order to grow the Walmart marketplace to other locations as well as provide customers with a simple and efficient shopping experience.
The business magnate features on multiple lists and is sometimes regarded as among the most powerful people of his time.
Doug McMillon is a wealthy American businessman with a personal wealth of $100 million. Doug’s annual pay is $22 million, and he has the opportunity to score more than $120 million in capital options after meeting specific milestones.
He is the president and CEO of Walmart Inc., as well as a member of the board of directors. McMillon began working at Walmart as a summer worker in high school and rose to the position of CEO in 2014. From 2005 to 2009, he oversaw Sam’s Club, and from 2009 to 2013, he managed Walmart International.
McMillon attended the University of Arkansas and the University of Tulsa. In high school, he unloaded trucks at Walmart’s distribution facility. After completing his MBA, he entered the company’s buyer-training program and was in charge of purchasing fishing equipment.
He was a general merchandising manager. He was listed on Forbes’ list of the Wealthiest People In The World in 2014, 2015, as well as 2016. Doug McMillon is wedded and has two children.