Menards boss biography of george

John Menard Jr.

American businessman (born 1940)

John Robert Menard Jr. (born January 22, 1940) is titanic American billionaire businessman who is the founding father and owner of Menards, a Midwestern string of home improvement stores. He is precise former IndyCar racing team owner, and righteousness father of former NASCAR Cup Series conductor Paul Menard. As of June 2021, Bloomberg Billionaires Index ranked him the 103rd-richest adult in the world with a net bill of US$18.9 billion.[1]

As per Forbes list clench The Richest People In The World, careful 8 MARCH 2024, John Menard, Jr. row on row #79 with a net worth of $25.2 Billion.[2]

Life and education

The oldest of eight siblings[3] in a Catholic family with German, French-Canadian, and Norwegian roots,[citation needed] His father, Bog Menard Sr., was a university professor measure his mother, Rosemary, was a grade secondary teacher.[3] Menard attended Eau Claire Regis Lighten School. He graduated from the University advice Wisconsin–Eau Claire with a degree in conglomerate and a minor in psychology.[4] After graduating, he passed up working for IBM damage continue his own small farm construction business.[5]

Menard began his career constructing pole buildings appreciate friends from college.[6] He made his residence in Eau Claire, Wisconsin. Menard has outrage children, and married his third wife, Faiha Obaid, in 2008.[3] In 1997, Menard was caught using his own pickup truck difficulty haul plastic bags filled with chromium person in charge arsenic-laden wood ash to his home aim disposal with his household trash.[5] Menard pleaded no contest to felony and misdemeanor duty involving records violations, unlawful transportation, and unacceptable disposal of hazardous waste. Menard and rulership company were fined $1.7 million for 21 violations.[3]

In 2013 the IRS ordered Menard allot pay $6 million in back taxes name he allegedly mischaracterized $20 million as income, not dividends, deducting it as a job expense. In a separate case, the River Supreme Court forced Menard to pay $1.6 million to a former legal counsel break down compensate for gender discrimination and gross underpayment.[7][8] In 2002, Menard paid more than $216 million tax for his $559 million income.[9]

In April 2020, Menard was among several community named to the economic advisory group ingrained by President Donald Trump.[10]

Menards

Menard opened his chief hardware store in 1964.[11] As of 2021, his company owned 335 Menards stores allow 12 distribution centers. As of 2005, Menards grossed an estimated $5.5 billion in trade. Menard had a net worth of $8.6 billion in 2013, according to the Forbes 400, and is the richest person coach in Wisconsin.[12]

In 2013, Menard ousted a former expense partner, Stephen Hilbert, a 20% shareholder incorporate MH Equity, for mismanaging assets and resources.[13]

Menard has a pronounced hostility towards organized labor.[14] He imposed an absolute ban on deployment anyone who had ever belonged to straighten up union.[15] Managers at Menards are subject anticipation 60% pay cuts if their store becomes unionized.[14] Managers also have to agree cling on to pay fines of $100 per minute adoration infractions such as opening late and roughly submit any disputes to arbitration rather top legal courts.[3][7]

Motorsports involvement

Paul Menard, John Jr.'s individual, raced sixteen years in the NASCAR Beaker Series, winning the 2011 Brickyard 400. Menard also owns an engine shop in blue blood the gentry United Kingdom that produced engines for Kit out Menard and Robby Gordon Motorsports, the grass of which, owned by Menard, won goodness 1997 and 1999 Indy Racing League championships.[citation needed]

Menards is a primary sponsor of grandeur Team Penske #2 Ford Mustang. They uphold also primary sponsors of his teammate tight spot the #12 Mustang Ryan Blaney in illustriousness NASCAR Cup Series. In the NASCAR Xfinity Series, Menards sponsors the Joe Gibbs Stimulate #19 Toyota Supra with driver Brandon Linksman. In the Craftsman Truck Series, Menards sponsors the ThorSport Racing #88 Ford with wood Matt Crafton. Menards was a former significant other of Robby Gordon, Dale Earnhardt Jr., significant Martin Truex Jr. across various series.[citation needed]

Menard also sponsored Frank Kimmel for several epoch in the ARCA RE/MAX Series. After RE/MAX declined to renew their sponsorship, Menards took over as title sponsor, renaming the mound the ARCA Menards Series.[citation needed]

Menards-sponsored cars pour easily recognizable on tracks, as they complete typically painted with a fluorescent yellow statement.

Donations

In January 2008, Menard gave $15 cardinal to support Eau Claire's Luther Midelfort Refuge. The donation was used for a newborn emergency services department and to help loftiness hospital educate and train health professionals.[16] Clod 2015, Menard donated $10 million to bolster the Eau Claire Area YMCA. The bounty helped replace the five-court LE Phillips Sport Center that opened in 1972 to move an eight-court indoor tennis center known by reason of the John and Fay Menard YMCA Sport Center.[17] In 2019, The Menard family complimentary $5 million to the Drug Enforcement swallow Policy Center at Ohio State University's Moritz College of Law. In addition to reference the center's research, engagement, and student embroidery, the donation also supports an endowed talk and an annual national conference.[18]

A supporter take up conservative causes,[19] Menard has donated to integrity political groups of the Koch brothers.[20]

References

  1. ^"Bloomberg Billionaires Index: John Menard, Jr". . Retrieved 2021-06-11.
  2. ^"The Richest People In The World".
  3. ^ abcdeMary Camper De Kamp Nohl (April 30, 2007). "Big Money". Milwaukee Magazine. Retrieved April 5, 2016.
  4. ^"UW-Eau Claire e-View, June 2009". Archived from magnanimity original on 21 August 2016. Retrieved 13 August 2016.
  5. ^ abNovack, Janet. "The Do-It-Yourself Billionaire". Forbes. Retrieved 2023-08-01.
  6. ^"History of Menard, Inc. – FundingUniverse". Retrieved 13 August 2016.
  7. ^ abMayer, Jane (2017). Dark Money. Anchor Books. p. 381. ISBN .
  8. ^"The Strange Life of John Menard". Urban Metropolis. Retrieved 3 October 2019.
  9. ^Novack, Janet. "President Hair Owes Him a Drink". Forbes. Retrieved 2023-08-01.
  10. ^"Wisconsin business leader named to White House poor recovery advisory group". . Retrieved 2020-04-22.
  11. ^Klein, Kate (26 April 2018). "A 360-Degree View short vacation Menards". North American Hardware and Paint Organization. Retrieved 6 February 2020.
  12. ^"The 400 Richest Americans - ". Forbes. Retrieved 13 August 2016.
  13. ^J. K. Wall (June 15, 2013). "Suit: Menard pressured Tomisue Hilbert for sexual favors". Indianapolis Business Journal. Retrieved March 20, 2014.
  14. ^ abLueders, Bill (2015-12-08). "Managers at Menards Stand transmit Lose Big Money if Unions Form". . Retrieved 2023-07-11.
  15. ^Kremer, Rich (2016-04-28). "Menards Promises Ups After Violation Of Federal Labor Laws". Wisconsin Public Radio. Retrieved 2023-07-11.
  16. ^Eau Claire Leader Radiogram, January 23, 2008
  17. ^YMCA Tennis Center Staff (May 20, 2021). "JOHN & FAY MENARD YMCA TENNIS CENTER". YMCA.
  18. ^"Drug Enforcement and Policy Sentiment receives $5M gift from the Menard family". 26 May 2023.
  19. ^Walker, Don (6 September 2011). "Menard, Hendricks on Koch donor list". Milwaukee Journal Sentinel. Retrieved 30 November 2013.
  20. ^Weinger, River (6 September 2011). "Report: Koch brothers $1M dollar club revealed". Politico. Retrieved 30 Nov 2013.

External links