American entrepreneur Frank VanderSloot has an estimated net worth of $1.2 billion. Born Frank L. VanderSloot on August 14, 1948, he graduated from Sandpoint High School in 1966 and earned his associate degree in business from Ricks College in Rexburg, Idaho. He completed his bachelor’s degree in business administration at Birmingham Young University in 1972.

VanderSloot has worked for Automatic Data Processing in sales and marketing then moved to general management and operations. In 1985, he was offered to work for Oil of Melaleuca, Inc. In the same year, he founded the Melaleuca, Inc. He now serves as the Chief Executive Officer and President of the company. Other businesses include Riverbend Ranch and Riverbend Communications.

Frank VanderSloot is also the Director of Chamber of Commerce of the United States of America. In 2008 and 2012, he served as national finance co-chair during the presidential of Mitt Romney. He is a sponsor of the Melaleuca Freedom Celebration, the largest annual Independence Day fireworks display in the west of Mississippi. He was also the primary financier of the American Heritage Charter School in Idaho Falls.

VanderSloot is a recipient of the Idaho Business Leader of the Year award from the Idaho State University in 1998. He was given the Ernst & Young Entrepreneur of the Year Award for the U.S. northwestern region in 2001. He was inducted into the Idaho Hall of Fame in 2007. He was also a recipient in 2011 of the Idaho Hometown Hero medal.