John Menard Jr.
| John Robert Menard Jr. | |
|---|---|
| Born |
January 22, 1940 Eau Claire, Wisconsin |
| Nationality | United States |
| Education | University of Wisconsin-Eau Claire |
| Occupation | Entrepreneur |
| Known for | Founding Menards |
| Net worth |
 US$ 9.4 billion (March 2015)[1] |
| Children |
Paul Menard John Menard III |
John R. Menard Jr. (born January 22, 1940) is an American entrepreneur and billionaire who is the founder and owner of Menards, a major Midwestern home improvement chain. He is also a former IndyCar racing team owner. He is also the father of NASCAR driver Paul Menard. He is the 136th richest person in the world, and the 68th richest person in the United States.
Life and education
The oldest of eight siblings in a Catholic family with German, French-Canadian, Norwegian roots[2][3], Menard attended Eau Claire Regis High School. Menard graduated from the University of Wisconsin–Eau Claire with a degree in business and a minor in psychology.[4] Menard began his career constructing pole buildings with friends from college.[5] He makes his home in Eau Claire, Wisconsin. Menard has six children, and married his third wife, Fay Obiad in 2008.[6]
Menards
Menard opened his first hardware store in 1972. As of 2014, his company owned 287 Menards stores. As of 2005 Menards grossed an estimated $5.5 billion in sales. Menard had a net worth of $8.6 billion in 2013, according to the Forbes 400, and is the richest person in Wisconsin.[7]
Motorsports involvement
Paul Menard, John Jr.'s son, is the driver of the #27 Menards Chevrolet in the NASCAR Sprint Cup Series. Menard also owns an engine shop in the United Kingdom that produced engines for Team Menard and Robby Gordon Motorsports, the former of which, owned by Menard, won the 1997 and 1999 Indy Racing League championships.
Charity
In January 2008, Menard gave $15 million to support Eau Claire's Luther Midelfort Hospital. The donation will be used for a new emergency services department and to help Mayo Clinic educate and train health professionals.[8]
Horse breeding
Menard is a thoroughbred horse owner.
Political activities
Menard has donated to the political groups of the Koch Brothers.[9] Menard is a "well-known" supporter of conservative causes.[10]
Controversy
In 2013, Menard ousted a former investment partner, Stephen Hilbert, a 20% shareholder in MH Equity, for mismanaging assets and resources. Hilbert's wife, Tomisue, filed a lawsuit alleging that her husband's forced departure from MH Equity came as a result of her denial of Menard's sexual advances. She states Menard touched her without consent, suggested that Tomisue join his wife in sexual activities, and threatened financial consequences if Tomisue denied his advances. Menard's defense describes the lawsuit as an attempt to get at Menard for removing Hilbert from management of MH Equity.[11]
References
- ↑ Forbes: The World's Billionaires - John Menard, Jr. September 2014
- ↑ http://www.kenmenard.com/menards/pafg953.htm
- ↑ http://www.findagrave.com/cgi-bin/fg.cgi?page=gr&GRid=93343545
- ↑ http://www.uwec.edu/alumni/e-View/2009/e-ViewJune09.htm
- ↑ http://www.fundinguniverse.com/company-histories/Menard-Inc-Company-History.html
- ↑ http://www.milwaukeemag.com/article/242011-BigMoney
- ↑ http://www.forbes.com/lists/2007/54/richlist07_The-400-Richest-Americans-Wisconsin_7Rank.html
- ↑ Eau Claire Leader Telegram, January 23, 2008
- ↑ Weinger, Mackenzie (6 September 2011). "Report: Koch brothers $1M dollar club revealed". Politico. Retrieved 30 November 2013.
- ↑ Walker, Don (6 September 2011). "Menard, Hendricks on Koch donor list". Milwaukee Journal Sentinel. Retrieved 30 November 2013.
- ↑ J.K. Wall. "Suit: Menard pressured Tomisue for sexual favors | 2013-06-15 | Indianapolis Business Journal". IBJ.com. Retrieved 2014-03-20.
External links
- Forbes.com: Forbes World's Richest People
- Milwaukee Magazine: Big Money - "How home improvement store founder John Menard became the richest man in Wisconsin – and what he sacrificed to do it"
| ||||||||||