John Menard Jr. Net Worth

John Robert Menard Jr. Net Worth

Real Name: John Robert Menard Jr.
Date of Birth: 01/22/1940
Place of Birth: Eau Claire, Wisconsin

2019 Net Worth: $9.6 Billion
2018 Earnings: $1.3 Billion

Profession: Entrepreneur, Founder of Menards

John Menard Jr. Biography

John Menard Jr., the eldest of eight children, was born and raised in Eau Claire, Wisconsin. His family values of frugality, independence, and hard work were embedded into his upbringing. From a young age, Menard planned to own his own business. While in high school, Menard’s father planned for a pole barn to be constructed. Menard spent summers working with his father’s builders, learning the business from the ground up. He graduated from the University of Wisconsin with a degree in business and a minor in psychology. Within a few years, Menard had earned and saved enough to assemble his own building crew. Menard began constructing pole buildings with some friends he knew from college, running his own business when he was still in his early 20’s.

Menard opened his own hardware store in 1972. Menards quickly became a household name in the Midwestern region of the United States. Menards is the third-largest home improvement store in the United States behind Lowe’s and Home Depot. Menard’s business idea was that home improvement stores should offer full-service lumber yards. Menards has always sold lumber on Saturdays, a time when other lumber yards are closed. This sets his stores apart from the rest. Menards now earns more than $6 billion in annual sales and has more than 37,000 employees.

Menard has often been accused of being controlling and handling his stores, as well as his employees, with an iron fist. He demands everyone, including upper management and executives punch a time clock. He has been involved in several lawsuits involving the firing of employees, even one of his own investment partners.  He has also given millions to various charities and has been quoted as saying he never asks anyone to do anything that he wouldn’t do himself.

Menard still lives in Eau Claire, Wisconsin, even though with his current net worth of $9.6 billion, Menard could live anywhere in the world. His son, Paul Menard, is the well-known NASCAR driver.

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