Net Worth and Background
Meg Whitman, an American business executive, has a net worth of $3.5 billion. Born as Margaret Whitman on August 4, 1956, in Huntington, New York, she hails from a prosperous background. Whitman’s parents, Hendricks Jr. and Margaret, provided her with a solid foundation for success. Growing up, she attended Cold Spring Harbor High School, where she graduated in 1974. She initially pursued a medical career, studying pre-med at Princeton University. However, her summer experience working for Business Today magazine ignited her interest in economics, eventually leading her down a different path.
| Net Worth | $3.5 billion |
|---|---|
| Salary | – |
| Birthdate | August 4, 1956 |
| Birthplace | Huntington, New York |
| Gender | Female |
| Height | – |
| Profession | Business Executive |
| Nationality | American |
Highlights
– Meg Whitman has a net worth of $3.5 billion.
– She has held senior positions at major companies such as eBay, Hewlett-Packard, Quibi, Walt Disney Company, DreamWorks, Hasbro, and Procter & Gamble.
– Whitman ran for governor of California in 2010.
Early Life and Education
Meg Whitman was born on August 4, 1956, in Huntington, New York, to parents Hendricks Jr. and Margaret. She attended Cold Spring Harbor High School, graduating in 1974. Whitman initially pursued a medical career, enrolling at Princeton University. However, after a summer selling ads for Business Today magazine, she shifted her focus to economics. In 1977, she obtained her AB from Princeton and went on to earn an MBA from Harvard Business School.
Career Beginnings
Fresh out of Harvard in 1979, Whitman began her career as a brand manager at Procter & Gamble. She then transitioned into consulting at Bain & Company, where she eventually rose to the position of senior vice president. In 1989, she joined the Walt Disney Company as vice president of strategic planning. Following her stint at Disney, she worked for the Stride Rite Corporation before becoming the president and CEO of Florists’ Transworld Delivery in 1995. Whitman later served as the general manager of Hasbro’s Playskool Division and made notable contributions, like introducing the popular British children’s TV show “Teletubbies” to the United States.
eBay
In 1998, Meg Whitman assumed the role of CEO at eBay, an e-commerce company with only 30 employees at the time. During her nearly decade-long tenure, eBay experienced remarkable growth, expanding to approximately 15,000 employees and generating $8 billion in annual revenue. Whitman’s strategic approach involved establishing a new executive team and subdividing the company into 23 business categories, each led by an executive. Under her leadership, eBay went public in 2002 and acquired PayPal. Additionally, Whitman oversaw the acquisition of Skype for $4 billion, later selling the company for $2.75 billion. While she stepped down as CEO in 2007, Whitman remained on the board and served as an advisor until 2008.
Hewlett-Packard
In January 2011, Meg Whitman joined the board of directors at the Hewlett-Packard Company, eventually assuming the role of CEO in September of the same year. As CEO, she refocused the company’s research and development division and reinstated the commitment to the PC business. However, challenges emerged during her tenure, with HP’s stock performing poorly and earning her the title of one of the most “underachieving” CEOs by Bloomberg L.P. in 2013. Whitman stepped down as chair of the board of directors in 2017, continuing as CEO until February 2018.
Quibi
In 2018, Whitman embarked on a new endeavor as the CEO of Quibi, a short-form media streaming platform. Quibi officially launched in 2020 but faced difficulties attracting subscribers, leading to considerations of acquisition or sale. Eventually, the company shut down in December 2020, with Roku acquiring its content library in early 2021.
Board Appointments
Throughout her career, Meg Whitman has served on the board of directors for various companies, including DreamWorks, Procter & Gamble, the eBay Foundation, Zipcar, Survey Monkey, and Goldman Sachs. She resigned from Goldman Sachs after 14 months due to controversy surrounding her involvement in public offerings managed by the company.
Political Career
Whitman has also been actively involved in politics. In 2008, she joined the national finance team of Republican presidential candidate Mitt Romney. Afterwards, she became the national co-chair of John McCain’s campaign. In 2016, Whitman served as the finance co-chair of Chris Christie’s presidential campaign, eventually endorsing Democratic candidate Hillary Clinton after Christie dropped out. In 2010, she ran for governor of California, focusing on job creation, reducing state government spending, and education reform. Despite her campaign spending a record $144 million, Whitman lost the election to Jerry Brown. In late 2021, she was nominated by President Joe Biden to become the US ambassador to Kenya.
Personal Life and Philanthropy
In 1980, Meg Whitman married Griffith R. Harsh IV, Chair of Neurosurgery at the University of California, Davis. The couple has two children and resides in Atherton, California. Together, they established the Griffith R. Harsh IV and Margaret C. Whitman Charitable Foundation in 2006. The foundation has supported numerous charitable causes, with a focus on the Environmental Defense Fund. Additionally, it made significant investments in offshore hedge funds.
Net Worth Over Time
Meg Whitman’s net worth has consistently grown over time due to her successful business ventures and investments. Starting with a substantial net worth, her value increased significantly during her tenure at eBay, where she oversaw remarkable company growth. Her subsequent involvement in other major companies and ventures further contributed to her net worth, ultimately reaching $3.5 billion.
Components of Net Worth
Meg Whitman’s net worth comprises various components. Her executive roles at major companies, including eBay and Hewlett-Packard, have contributed significantly to her wealth. Additionally, her board appointments and involvement in successful ventures have generated substantial income and added to her overall net worth. Whitman’s prudent investments, both in traditional assets and offshore hedge funds, have also played a role in her financial success.
In conclusion, Meg Whitman’s journey as a business executive, her impactful roles at major companies, and her astute investment choices have propelled her net worth to an impressive $3.5 billion. Beyond her professional accomplishments, Whitman’s philanthropic endeavors and involvement in politics have further defined her career path and contributed to her overall legacy.