Source of Wealth:Supermarkets
Full Name:Hank and Doug Meijer
Occupation:Co-Chairmen of Meijer, Inc.
About Hank and Doug Meijer
Hank and Doug Meijer are the Co-Chairmen of Meijer, Inc. and they have an estimated net worth of $7.3 billion as of November 2016, according to Forbes. In the “Forbes 40” list, they are ranked 69th. They are listed 248th among the World Billionaires.
They are part of the richest people in Michigan. Hank and Doug are the grandsons of Henrik Meijer who starter the grocery store chain during the great depression. Their father, Frederik Meijer worked at the first location when he was 14. He went on to take over the family business and grew it into a massive grocery empire.The Meijer brothers earned their estimated net worth of $8.1 billion when they took over the company from their father in 1990 who remained active in the business until his death November 2011.
Founded in 1934, Meijer, Inc. is a grocery chain based in Michigan. It pioneered the superstore in 1962 when its combined grocery and department stores started operating under the Thrifty Acres banner. In 2012, the company’s revenues were around $15 billion and most of these came from its 190 Meijer stores in five states. It has also been investing in smaller, more upscale grocery stores under the Meier Marketplace name. The company has been quite successful until the early 90's when Wal-Mart came to be their competitor. In order to remain competitive, it has been restructuring, changing its image, shuffling employees, and laying off others since the early 2000's.
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