John Menard Jr.
| John Menard Jr. | |
|---|---|
| Born |
John Robert Menard Jr. January 22, 1940 Eau Claire, Wisconsin |
| Nationality | American |
| Education | University of Wisconsin-Eau Claire |
| Occupation | Entrepreneur |
| Known for | Founding Menards |
| Net worth |
 US$9.1 billion (February 2016)[1] |
| Children |
Paul Menard John Menard III |
John Robert Menard Jr. (born January 22, 1940) is an American entrepreneur and billionaire who is the founder and owner of Menards, a Midwestern chain of home improvement stores. He is also a former IndyCar racing team owner. He is also the father of Monster Energy NASCAR Cup Series 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, Menard attended Eau Claire Regis High School. He graduated from the University of Wisconsin–Eau Claire with a degree in business and a minor in psychology.[2] Menard began his career constructing pole buildings with friends from college.[3] He made his home in Eau Claire, Wisconsin. Menard has six children, and married his third wife, Fay Obiad in 2008.[4]
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.[5]
Motorsports involvement
Paul Menard, John Jr.'s son, is the driver of the #27 Menards Chevrolet in the Monster Energy NASCAR 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.[6]
Political activities
A supporter of conservative causes,[7] Menard has donated to the political groups of the Koch Brothers.[8]
Controversy
In 1997, Menard was caught using his own pickup truck to haul plastic bags filled with chromium and arsenic-laden wood ash to his home for disposal with his household trash. Menard pleaded no contest to felony and misdemeanor charges involving records violations, unlawful transportation, and improper disposal of hazardous waste. Menard and his company were fined $1.7 million for 21 violations.[4]
In 2013, Menard ousted a former investment partner, Stephen Hilbert, a 20% shareholder in MH Equity, for mismanaging assets and resources.[9]
References
- ↑ Forbes: The World's Billionaires - John Menard Jr. September 2014
- ↑ "UW-Eau Claire e-View, June 2009". Retrieved 13 August 2016.
- ↑ "History of Menard, Inc. – FundingUniverse". Retrieved 13 August 2016.
- 1 2 Mary Van De Kamp Nohl (April 30, 2007). "Big Money". Milwaukee Magazine. Retrieved April 5, 2016.
- ↑ "The 400 Richest Americans - Forbes.com". Retrieved 13 August 2016.
- ↑ Eau Claire Leader Telegram, January 23, 2008
- ↑ Walker, Don (6 September 2011). "Menard, Hendricks on Koch donor list". Milwaukee Journal Sentinel. Retrieved 30 November 2013.
- ↑ Weinger, Mackenzie (6 September 2011). "Report: Koch brothers $1M dollar club revealed". Politico. Retrieved 30 November 2013.
- ↑ J. K. Wall (June 15, 2013). "Suit: Menard pressured Tomisue Hilbert for sexual favors". Indianapolis Business Journal. Retrieved March 20, 2014.
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"