John Stumpf is an American executive who has an estimated net worth of $50 million. He was born John G. Stumpf in Pierz, Minnesota in 1953. He began working at a very young age as a bread maker in a bakery in Pierz. After a year, he enrolled in St. Cloud University on a provisional basis and earned his bachelor’s degree in finance. He then worked as a repossession agent at First Bank in St. Paul, Minnesota. He later earned his MBA with an emphasis in finance from the University of Minnesota.

Mr. Stumpf started accumulating his estimated net worth of $50 million in 1982 when he joined Northwestern Nation Bank, formerly Norwest Corporation and predecessor of Wells Fargo. Currently, he is the Chairman of the Board, President and Chief Executive Officer of Wells Fargo & Company, a banking and financial services holding company with operations around the world. He served as the President since 2005, Chief Executive Officer since June 2007, and was named Chairman in January 2010.

John Stumpf has held several operational and managerial positions in his career at the company. His current positions at Wells Fargo and long career in banking have provided the Board with additional expertise in financial oversight and stewardship of capital. In turn, it will provide a valuable perspective with respect to Target’s credit card and real estate assets.