⬅ # 551 Hank Meijer|# 553 Carl Icahn

# 552 Doug Meijer 

$5.74B

Real Time Net Worth
as of 4/23/2024

# 552 Doug Meijer 

$5.74B

Real Time Net Worth
as of 4/23/2024
OccupationCo-owner and Co-Chair, Meijer
Source of WealthSupermarkets
Age70
ResidenceGrand Rapids, Michigan
Marital StatusDivorced
Children1
Age-Adjusted Net Worth$2.92B
Doug Meijer
Doug Meijer
United States
Net worth: $5.74B

Self-Made Score 

Biography

Overview

Douglas Meijer, born in 1955, is an American billionaire businessman, known as co-chairman of the US supermarket chain Meijer.
He shares a joint net worth of US$16.6 billion with his brother, as of January 2022.
Meijer is recognized for his role in leading Meijer Inc., which was founded by his Dutch immigrant grandfather Henrik in 1934.
He resides in Grand Rapids, Michigan, and has been actively involved in the company's operations.
Despite facing competitive challenges, Meijer's strategic expansions and innovations have contributed to its growth and prominence in the retail industry.

Early Life and Education

Born in 1955 to Frederik and Lena Meijer, Douglas Meijer is the grandson of Hendrik and Gezina Meijer.
Hendrik Meijer, his grandfather, founded Meijer Inc., the supermarket chain, in 1934.
Meijer holds a degree from the University of Michigan.

Career

Alongside his brother Hank, Douglas Meijer served as co-CEO of Meijer Inc. from 1990 to 2017.

Personal Life

Residing in Grand Rapids, Michigan, Douglas Meijer has openly discussed his battles with depression, which began after his father's death in 2011.
He has experienced two divorces and has one daughter.
His nephew, Peter Meijer, formerly served as a GOP congressman in Michigan.

Meijer Inc History

Founded by Hendrik Meijer in Greenville, Michigan, in 1934, Meijer Inc. originated as a supermarket chain.
Hendrik's son, Frederik Meijer, took over the company after his father's death, expanding its success.
Under Frederik's leadership, Meijer transitioned into supercenters, pioneering the modern concept in 1962.
The company strategically expanded into neighboring states during the mid-1990s and later ventured into Illinois, Kentucky, and Ohio.
Despite facing challenges from competitors like Walmart, Meijer continued its expansion and innovation, adapting to market trends.

How long would it take you to become as rich as Doug Meijer?

If you started with $10,000 and invested an additional $500 each month at a 43.95% CAGR, it would take you 5 years to reach Doug Meijer's net worth of $5.74B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 34.07% compared to 5.08% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Doug Meijer is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Doug Meijer, Supermarkets is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey