Doug McMillon, an American businessman, has a net worth of $300 million. He serves as the president and CEO of Walmart, a role he assumed in 2014 after leading the company’s international division from 2009 to 2013 and the Sam’s Club division from 2005 to 2009.
| Doug McMillon Net Worth | $300 Million |
| Date of Birth | October 17, 1966 |
| Place of Birth | Memphis, Tennessee |
| Nationality | American |
| Profession | Businessman |
Doug McMillon Salary and Stock Holdings
Doug McMillon’s annual salary is $22 million. Over time, he has the potential to earn over $120 million in stock options after achieving certain milestones. As of now, McMillon owns 1,632,318 shares of Walmart, worth approximately $250 million at $150 per share. Throughout his career, he has sold around $140 million worth of Walmart shares.
Early Life
Born Carl Douglas McMillon on October 17, 1966, in Memphis, Tennessee, Doug McMillon is the oldest of three children of Laura and Morris McMillon. Raised in Jonesboro, Arkansas, until he was 16, McMillon then moved with his family to Bentonville, where Walmart is headquartered. He attended Bentonville High School, where he played point guard on the basketball team. McMillon earned his BA from the University of Arkansas in Fayetteville in 1989 and later received his MBA from the University of Tulsa in 1991.
Doug McMillon Career Beginnings at Walmart
McMillon began his Walmart career as a teenager in 1984, working as a summer associate unloading trucks at a distribution center. After a minor mishap on his first day, he eventually progressed to assistant manager at a Walmart in Tulsa while attending the University of Tulsa for his MBA. After completing his studies, he moved back to Bentonville and joined Walmart’s buyer training program, initially responsible for buying fishing tackle and later handling various roles in buying and merchandising.
Sam’s Club
In 2005, McMillon was promoted to president and CEO of Sam’s Club, Walmart’s wholesale store division. He focused on marketing to small-business customers and implemented a strategy of placing expensive premium items next to cheap bulk goods to compete with Costco.
Walmart International
In early 2009, McMillon became the head of Walmart’s international division, replacing Mike Duke, who became CEO of Walmart. McMillon improved markets in countries such as Canada, the United Kingdom, and China, and acquired a majority stake in South African company Massmart Holdings. Under his leadership, Walmart International’s sales growth outpaced that of Walmart in the United States, with the division operating 6,300 stores in over 25 countries by the time he left in 2013.
Walmart CEO
Doug McMillon was appointed CEO of Walmart on February 1, 2014. During his first two years, he raised wages for hourly workers in the United States, enhanced Walmart’s e-commerce presence, and revamped the executive team. In early 2016, he announced wage increases for most Walmart workers and offered free basic short-term disability for full-time workers. McMillon also invested $1 billion in online operations and worked to improve Walmart’s environmental sustainability by replacing store lighting with energy-efficient LED lights.
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McMillon made several notable political and social moves as CEO. In 2015, he urged Arkansas Governor Asa Hutchinson to veto the state’s “religious freedom” bill, which he saw as a threat to inclusion. He also announced that Walmart would stop selling Confederate flag merchandise and semiautomatic weapons following the Charleston church shooting. In 2019, after a mass shooting at a Walmart in El Paso, Texas, McMillon declared that the company would stop selling ammunition for handguns and military-style weapons.
Personal Life
Doug McMillon is married to Shelley McMillon, and they have two sons, Blake and Spencer. McMillon is a born-again Christian.
Bentonville Estate
Doug McMillon’s primary residence is a 41-acre estate in Bentonville, Arkansas. The main house on the property is 8,200 square feet.
Doug McMillon Net Worth
Doug McMillon net worth is $300 million.
