⬅ # 537 Sumet Jiaravanon|# 539 Hank Meijer

# 538 Mark Meijer 

$5.97B

Real Time Net Worth
as of 5/18/2024

# 538 Mark Meijer 

$5.97B

Real Time Net Worth
as of 5/18/2024
OccupationCo-owner, Meijer
Source of WealthSupermarkets
Age66
ResidenceGrand Rapids, Michigan
Age-Adjusted Net Worth$3.98B
Mark Meijer
Mark Meijer
United States
Net worth: $5.97B

Self-Made Score 

Biography

Overview

Mark Meijer is a billionaire primarily known for co-owning and leading Meijer Inc., a Michigan-based supercenter chain founded by his grandfather Henrik Meijer in 1934.
He became wealthy through his family's business, which is credited with pioneering the modern supercenter concept in 1962 and has expanded to over 230 stores in the Midwest with estimated revenues of $21 billion.

Early Life and Family Business Involvement

Mark Meijer is a descendant of Henrik Meijer, a Dutch immigrant who founded Meijer's in Greenville, Michigan, in 1934.
His grandfather's venture into the grocery business during the Great Depression laid the foundation for the family's fortune.
Mark's father and uncles, including his 14-year-old son, Frederik Meijer, who later became chairman of the company, were among the first employees.
The current co-chairmen, Mark's brothers Hank and Doug Meijer, are Henrik's grandsons.
Mark Meijer, although not involved in day-to-day operations, serves on the board of directors of Meijer Inc.

Business Ventures

In addition to Meijer Inc., Mark co-founded Life EMS, an ambulance company, in 1980, showcasing his entrepreneurial endeavors beyond the family business.
Life EMS stands as a testament to Mark's diversified portfolio beyond the grocery industry.
Meijer Inc. operates primarily throughout the Midwestern United States, with its corporate headquarters in Walker, Michigan.
The chain has expanded beyond Michigan, with stores in Illinois, Indiana, Kentucky, Ohio, and Wisconsin, contributing to its significant market presence.
Meijer Inc. is ranked by Forbes as the 14th-largest private company in the United States, demonstrating Mark's involvement in a major player in the retail sector.

Expansion and Innovation

Under Mark's leadership, Meijer expanded its footprint beyond Michigan into neighboring states during the mid-1990s.
The company adopted innovative strategies such as a new store format and logo in the early 2000s to enhance its competitive edge.
Meijer ventured into new markets, including Chicago and Northeastern Wisconsin, demonstrating Mark's commitment to strategic expansion.
The company's adoption of LEED certification for its stores highlights its commitment to sustainability and modern retail practices.
Meijer's expansion into diverse markets, including Detroit, Cleveland–Akron, and Youngstown, reflects Mark's vision for regional growth and market penetration.

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

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Mark Meijer's net worth of $5.97B.

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 42.76% compared to 11.89% for the S&P 500 benchmark.

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

Mark 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 Mark 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