⬅ # 545 Mark Meijer|# 547 Doug Meijer

# 546 Hank Meijer 

$5.71B

Real Time Net Worth
as of 4/20/2024

# 546 Hank Meijer 

$5.71B

Real Time Net Worth
as of 4/20/2024
OccupationCo-owner and Co-Chair, Meijer
Source of WealthSupermarkets
Age72
ResidenceGrand Rapids, Michigan
Marital StatusMarried
Children3
Age-Adjusted Net Worth$2.54B
Hank Meijer
Hank Meijer
United States
Net worth: $5.71B

Self-Made Score 

Biography

Overview

Hendrik G. 'Hank' Meijer, born in 1952, is an American billionaire businessman, co-chairman, and former CEO of the US supermarket chain Meijer.
He, along with his brothers Doug and Mark, have overseen the growth of Meijer, which has 230 stores in the Midwest with estimated revenues of $21 billion.
Meijer, founded by their grandfather Henrik in 1934, pioneered the modern supercenter concept in 1962, blending grocery and department store shopping.
Hank Meijer's tenure as co-CEO lasted from 1990 to 2017, during which he and Doug propelled the company's expansion and innovation.
His son, Peter Meijer, a former Republican congressman, gained attention for his vote to impeach Donald Trump.

Early Life Education

Hank Meijer was born in 1952 to Lena Rader and Frederik Meijer, the son of a Dutch immigrant who founded Meijer in 1934.
He attended Creston High School and graduated from the University of Michigan in 1973 with a degree in literature.

Career

From 1973 to 1979, Meijer pursued a career in journalism before joining the family business in 1979.
He steadily rose through the ranks, eventually becoming co-chairman and CEO of Meijer, a position he held until 2017.

Personal Life

Hank Meijer has three children from his first marriage and is currently married to Liesel Litzenburger, a writer and novelist.
He resides in Grand Rapids, Michigan, and has been actively involved with the Gerald R. Ford Presidential Foundation.

Associations

Hank Meijer enjoyed a close friendship with President Gerald R. Ford and serves as vice-chairman and trustee of the Gerald R. Ford Presidential Foundation.
His family faced public attention in 2015 when his daughter's ex-husband was sentenced to 12 years in jail for attempting to blackmail the family.

Expansion and Innovation

Under Hank Meijer's leadership, Meijer expanded aggressively, opening stores in new regions and pioneering new formats.
The company ventured into new markets, including Wisconsin, Kentucky, and Northeastern Ohio, with strategic store openings.
Meijer embraced sustainability with the opening of its first LEED-certified store in 2007 and continued to adapt its store designs to stay competitive.

How long would it take you to become as rich as Hank 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 Hank Meijer's net worth of $5.71B.

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

Hank 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 Hank 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