Craig Jelinek Net Worth

$150,000,000

Craig Jelinek is an American businessman with a net worth of $150 million. He earned his fortune through a long career at discount club Costco, currently holding the position of CEO since 2012.

Key facts:

  • Craig Jelinek is the current CEO of Costco, a position he took on in 2012 after the retirement of company co-founder Jim Sinegal.
  • Jelinek is the largest declared individual stockholder in Costco, owning 333,000 shares, which is roughly .08% of the company's total shares outstanding.
  • In addition to his base salary of $800,000, Jelinek earns additional income through bonuses and stock grants. In 2018, his total compensation included a bonus of $97,000, stock grants of $6.3 million, and $200,000 in retirement contributions.
  • Jelinek has a long history with Costco and joined the company in 1984 as the manager of warehouse operations. He was later promoted to head of operations and merchandising in 2004 before becoming CEO in 2012.
  • Jelinek played a role in maintaining Costco's famous $1.50 price for hot dogs sold in its restaurants. According to legend, when he expressed concerns about the profitability of the hot dogs, co-founder Jim Sinegal insisted on keeping the price unchanged, stating, "If you raise the price of the effing hot dog, I will kill you. Figure it out."

Basic Information About Craig Jelinek

CategoryBusiness β€Ί CEOs
ProfessionsBusinessman
Net worth$150,000,000
Date of birth1952-08-08 (71 years old)
Place of birthCalifornia, U.S.
NationalityAmerican
Social Mediaβ†—οΈŽ Wikipedia

Craig Jelinek: A Trailblazer and Visionary in the Retail Industry

Craig Jelinek, the CEO of Costco, is an American businessman who has left an indelible mark on the retail industry. With a net worth of $150 million, Jelinek’s career path has been nothing short of remarkable. As the leader of one of the largest retail chains in the world, Jelinek is known for his astute leadership and unwavering commitment to providing value to customers.

Net Worth Details

Craig Jelinek has amassed his impressive wealth through his long-standing association with Costco. As of today, Jelinek is the largest declared individual stockholder of the company, owning 333,000 shares. Even though the value of his stake has fluctuated over the years, it has consistently remained between $100 and $150 million. In addition to his stock holdings, Jelinek receives a base salary of $800,000, along with bonuses and stock grants.

Biography: Early Life and Education

Craig Jelinek was born in California in August 1952. He attended Antelope Valley High School and graduated in 197. Determined to pursue higher education, he enrolled at San Diego State University (SDSU) and graduated in 1975. It was during his time at SDSU that Jelinek crossed paths with his future mentor, Jim Sinegal, who would play a pivotal role in shaping his career.

After graduating from SDSU, Jelinek took his first job at FedMart, a chain of discount department stores. Interestingly, Jim Sinegal also had a history with FedMart, as he worked there as a bagger while in college. It was here that Jelinek’s passion for the retail industry began to blossom, setting him on a path that would lead to his future success.

Career: From Manager of Warehouse Operations to CEO

In 1984, Craig Jelinek joined Costco as the manager of warehouse operations. Costco was founded in 1983, and at the time, it was still a growing company in the retail industry. Throughout his tenure at Costco, Jelinek displayed exceptional leadership skills and a keen eye for operations and merchandising.

His dedication and hard work did not go unnoticed, as he steadily climbed the corporate ladder. In 2004, Jelinek was promoted to the position of Head of Operations and Merchandising at Costco. This recognition of his abilities and contributions to the company’s success laid the foundation for even greater achievements.

In 2012, Craig Jelinek reached the pinnacle of his career when he became the CEO of Costco. Taking over from company co-founder Jim Sinegal, Jelinek continued to build on Costco’s legacy and ensure its continued growth and success. Under his guidance, Costco became the world’s largest retailer of organic foods, choice and prime beef, wine, and rotisserie chicken. In 2022, the company generated an impressive $222 billion in revenue.

Costco’s Commitment to Value: The Famous Hot Dog Quote

One of the fascinating aspects of Craig Jelinek’s leadership style is his commitment to providing exceptional value to customers. This commitment is epitomized by Costco’s famous decision to keep the price of their hot dogs at a mere $1.50, despite inflation and rising costs in many other areas.

The now-legendary hot dog quote captures Jelinek’s determination to uphold this commitment. During a conversation with Jim Sinegal, Jelinek expressed concern about the profitability of selling hot dogs at such a low price. Sinegal’s response was unequivocal, saying, β€œIf you raise the price of the effing hot dog, I will kill you. Figure it out.” This quote exemplifies the unwavering dedication to value that Costco has become known for.

Achievements: Steadfast Leadership and Recognition

Throughout his illustrious career, Craig Jelinek has received numerous accolades and recognition for his accomplishments in the retail industry. However, it is his unwavering commitment to customer value and Costco’s success that truly sets him apart.

As the CEO of Costco, Jelinek has steered the company to unprecedented heights, earning him a reputation as a visionary and trailblazer. His strategic decisions have not only established Costco as a retail powerhouse but have also revolutionized the way consumers shop for everyday goods.

With his extensive experience, dedication to excellence, and commitment to value, Craig Jelinek continues to inspire the next generation of leaders in the retail industry.

Craig Jelinek Famous Network

Male Business ♂️ With Net Worth Closest To $150,000,000

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