John Menard Jr.

John Menard Jr.
Born John Robert Menard Jr.
(1940-01-22) January 22, 1940
Eau Claire, Wisconsin
Nationality American
Education University of Wisconsin-Eau Claire
Occupation Entrepreneur
Known for Founding Menards
Net worth Increase US$13.2 billion (March 2018)[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, and 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]He is Roman Catholic.[5]

Menards

Menards store in Lafayette, Indiana

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.[6]

Motorsports involvement

Paul Menard, John Jr.'s son, is the driver of the #21 Menards Ford 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.

Menards has a sponsorship partnership with Team Penske with driver Ryan Blaney, Wood Brothers Racing for his son Paul in The Monster Energy NASCAR Cup Series & Joe Gibbs Racing with driver Brandon Jones in the NASCAR Xfinity Series .

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.[7] In 2015, Menard donated $10 million dollars to support the Eau Claire Area YMCA. The gift will replace the current five-court LE Phillips Tennis Center that opened in 1972 to become an eight-court indoor tennis center known as the Menard Family YMCA Tennis Center.

Political activities

A supporter of conservative causes,[8] Menard has donated to the political groups of the Koch brothers.[9]

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.[10]

References

  1. ↑ Forbes: The World's Billionaires - John Menard Jr. September 2014
  2. ↑ "UW-Eau Claire e-View, June 2009". Retrieved 13 August 2016.
  3. ↑ "History of Menard, Inc. – FundingUniverse". Retrieved 13 August 2016.
  4. 1 2 Mary Van De Kamp Nohl (April 30, 2007). "Big Money". Milwaukee Magazine. Retrieved April 5, 2016.
  5. ↑ taddlr.com
  6. ↑ "The 400 Richest Americans - Forbes.com". Retrieved 13 August 2016.
  7. ↑ Eau Claire Leader Telegram, January 23, 2008
  8. ↑ Walker, Don (6 September 2011). "Menard, Hendricks on Koch donor list". Milwaukee Journal Sentinel. Retrieved 30 November 2013.
  9. ↑ Weinger, Mackenzie (6 September 2011). "Report: Koch brothers $1M dollar club revealed". Politico. Retrieved 30 November 2013.
  10. ↑ J. K. Wall (June 15, 2013). "Suit: Menard pressured Tomisue Hilbert for sexual favors". Indianapolis Business Journal. Retrieved March 20, 2014.
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