Doug McMillon Net Worth & Wife

What is Doug McMillon’s net worth? Who is Doug McMillon’s spouse?

Introduction

Саrl Dоug МсМіllоn (nicknamed C. Doug) іѕ one of the most ѕuссеѕѕful Аmеrісаn buѕіnеѕѕmen to date аnd at current, hе іѕ thе Сhіеf Eхесutіvе Offісеr аnd Рrеѕіdеnt оf the multіnаtіоnаl rеtаіlіng соrроrаtіоn Wаl-Маrt Ѕtоrеѕ, Іnс.

In this article, we discuss the details of Doug McMillon’s early life, career, family, and net worth.

The Origin Story

Doug McMillon was born in Memphis, Tennessee, on the 17th of October 1966.

He is the eldest of three children born to Laura and Morris McMillon.

His father, who had served in Vietnam, now worked as a dentist.

”I think they earned a middle-class income, but they’d grown up without anything,” McMillon told Harvard Magazine about his parents.

C. Doug grew up in Jonesboro in Arkansas, but when he was 16 y.o, his family moved to Bentonville, Arkansas, the home of Walmart headquarters.

Walmart

McMillon has worked for Walmart throughout the majority of his career.

This timeline dissects his path to becoming the CEO.

1984 – When C. Doug was just a teenager in high school, he began his first job at Walmart as a summer associate.

Throughout the summer, he was tasked with unloading trucks in a distribution center.

1989 – After high school, C. Doug attended the University of Arkansas, where he graduated with a bachelor’s degree in Business Administration.

1990 – As a postgraduate opportunity, C. Doug studied for a Masters of Business Administration (MBA) at the University of Tulsa.

During his studies, he reached out to an executive working at Walmart and told them he was interested in becoming a buyer once he had completed his studies.

He was swiftly offered an assistant manager role at a Walmart store in Tulsa, in Oklahoma.

1991 – After completing his MBA, C. Doug moved up the ladder by moving back to Bentonville and joining the buyer-training program at the Walmart Headquarters.

Initially, he was tasked with buying fishing tackle but took on various roles as a merchandiser and a buyer, dealing in clothes, crafts, food, and furnishings.

With time, he later moved on to work as a general merchandise manager for Sam’s Club, Walmart’s wholesale store division.

2005 – C. Doug was promoted to President and CEO of Sam’s Club on the 4th of August 2005.

He was tasked with fostering small business customers in an attempt to compete with Costco.

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2009 – Due to C. Doug’s success at Sam’s Club, Walmart officials moved him to lead Walmart’s international division in early 2009.

This new position set up C. Doug for success.

His role focused primarily on improving existing markets, including the Americas, Canada, China, and the United Kingdom.

Under C. Doug’s jurisdiction, Walmart’s international division acquired a majority stake in Massmart Holdings Ltd. for $2.4 billion (USD).

Over the next four years, the international division outsold Walmart US. When he first became president, the international department comprised of 3,300+ stores across 14 countries, by 2013, Walmart International held 6,300+ stores across 26 countries.

2014 – On the 25th of November 2013, Walmart announced that C. Doug would join the board of directors by becoming Walmart CEO and replacing Mike Duke, effective from the 1st of February 2014.

”In his 18 years with the company, Doug has learned the business from the bottom up,” said Mike Duke. He added: ”Doug is the right leader to continue to grow our international portfolio.”

There was a rise in competition from rivals including Amazon, Costco, large grocery store chains, and discount chains like Dollar General during his initial period.

2016 – Within the first two years as CEO, C. Doug announced that Walmart would invest an additional $2.7 billion towards benefits, training, raising associate wages, and raising the minimum wage to $10 an hour.

This significant shift positively impacted 40% of the company’s 1.4 million workers in the United States.

In 2021, Doug was a Class Day Distinguished Speaker for Harvard Business School.

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Wife

Doug McMillon has been married to Shelley McMillon since 1998.

He lives with his wife and their two sons in Bentonville, Arkansas.

After marrying Shelly McMillon, C. Doug became a born-again Christian, stating, “I have faith in Jesus Christ as my savior.”

Doug McMillon – Net Worth & Salary

So, how much is Doug McMillon worth? McMillon accrued most of his wealth from serving as the President and CEO of Walmart since February 2014. Therefore, Dоug МсМіllоn hаѕ аn еѕtіmаtеd nеt wоrth exceeding $275 mіllіоn.

Doug McMillon’s annual salary is estimated to be around $1.3 million.

In 2020, McMillon earned $22.6 million.

In 2021, Doug received a paycheck of $25.7 million, and $25.7 million in total compensation in fiscal 2022.

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