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What is John Menard Jr’s Net Worth?
John Menard Jr., the founder and owner of the Menards home improvement chain, has an estimated net worth of $25.2 billion, making him the richest person in Wisconsin. Menard’s primary source of wealth is his ownership of Menard Inc., which operates over 300 stores across the United States.
The company, founded in 1960, has become a major player in the home improvement retail sector, competing with giants like Home Depot and Lowe’s. Menard Inc. reported revenues of approximately $13 billion in 2021, underscoring its substantial market presence. Menard owns 89% of the company, which significantly contributes to his high net worth.
In addition to his retail empire, Menard has diversified his interests, including significant involvement in motorsports and owning racing teams.
Here’s the breakdown of John Menard Jr’s net worth:
Name: | John Menard Jr |
Net Worth: | $25.2 Billion |
Date of Birth: | Jan 22, 1940 |
Profession: | Entrepreneur |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Life and Education
John Robert Menard Jr. was born on January 22, 1940, in Eau Claire, Wisconsin. He is the eldest of eight siblings in a devout Catholic family with German, French-Canadian, and Norwegian roots.
His father, John Menard Sr., was a university professor, while his mother, Rosemary, was a grade school teacher. Menard attended Eau Claire Regis High School and later graduated from the University of Wisconsin–Eau Claire with a degree in business and a minor in psychology.
Despite receiving a job offer from IBM, he chose to pursue his own small farm construction business, which laid the foundation for his future success in the home improvement retail industry.
Menards
Menards, the home improvement retail chain founded by John Menard Jr., has grown to become the third-largest home improvement store in the United States, trailing only behind giants like Lowe’s and The Home Depot.
The company began in 1960 when Menard started building post-frame buildings to finance his college education. By 1964, he opened the first Menards hardware store in Eau Claire, Wisconsin.
Over the decades, Menards expanded significantly, now operating over 300 stores across 15 states. The company is known for its wide range of products, competitive prices, and exceptional customer service. It reported revenues of approximately $13 billion in 2021.
Motorsports Involvement
John Menard Jr. has a significant presence in the motorsports industry. He has owned racing teams and sponsored various NASCAR and IndyCar events. His involvement in motorsports includes owning an engine shop in the UK and his team winning the 1997 and 1999 Indy Racing League championships.
Menard has been a primary sponsor for several teams in the NASCAR Cup Series, Xfinity Series, and Craftsman Truck Series. His son, Paul Menard, followed in his footsteps and became a professional race car driver, competing in the NASCAR Cup Series for 16 years.
Menard’s passion for motorsports has not only enhanced his public profile but also provided valuable marketing opportunities for his business.
Donations
John Menard Jr. is also known for his philanthropic efforts. He has made significant donations to various causes, particularly in the fields of education, health, and community development.
In 2008, Menard donated $15 million to support Eau Claire’s Luther Midelfort Hospital, which was used for a new emergency services department and to help educate and train health professionals.
In 2015, he gave $10 million to the Eau Claire Area YMCA, establishing the John and Fay Menard YMCA Tennis Center.
In 2019, the Menard family donated $5 million to the Drug Enforcement and Policy Center at Ohio State University’s Moritz College of Law.
Menard is also a supporter of conservative causes, having donated to the political groups of the Koch brothers.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
