Target CEO Brian Cornell’s Net Worth, Family, and Political Beliefs

Retail giant Target released its fiscal third-quarter earnings on Nov. 17, which were better than expected. This week, several retail giants including Walmart, Lowe’s, and Home Depot have released their earnings. Target is led by Brian Cornell, who’s the company’s chairman and CEO. Here are the key details about his net worth, family life, and political beliefs.

Before Cornell joined Target in 2014, he worked at different levels in various companies. He worked in leadership positions at several companies including PepsiCo and Walmart-owned Sam’s Club. He was the CEO of Sam’s Club. Cornell was also the CEO of PepsiCo Americas Foods and was rumored to be in line to succeed PepsiCo’s then CEO Indra Nooyi.

Cornell has made several high-profile careers moves and became the first outsider to lead Target. However, he has been successful in turning around the company that got its current name in 2000. Under his leadership, the company is managing the global supply chain situation better than some of the other retail companies.

Markets have also rewarded Target stock and it's outperforming the S&P 500 by a wide margin in 2021. Target has a focus on private labels, which helps the company in improving its bottom line. Now, under Cornell’s leadership, the company has been expanding aggressively in e-commerce.

Target not only posted better-than-expected earnings in the fiscal third quarter but also raised its full-year guidance and now expects its sales to rise in high single digits to low double digits in the fiscal fourth quarter.

According to Celebrity Net Worth, Brian Cornell’s net worth is $80 million. However, there aren't any other credible reports on his net worth. Cornell made his fortune through the various roles that he has held. His family had a humble background and he had to do odd jobs as a child and teenager. Cornell attended the Anderson School of Management and currently sits on its Board of Visitors.

In 2020, Cornell earned around $19.8 million. While his base pay of $1.4 million didn't change from 2019. He also received $4.48 million as a non-equity incentive plan and another $1.12 million as an incentive bonus, according to Fox News. Cornell vested or exercised long-term equity awards of $70 million in 2020.

Most corporate executives get the majority of their compensation as stock options. Tesla CEO Elon Musk is an exception and he doesn't take any salary from the company. All of Musk's compensation is in the form of stock options.

Brian Cornell is married to Martha Cornell and the couple has a son and a daughter.

Cornell has liberal ideas and was taken aback by George Floyd's murder, which shook the country. He said that after the tragedy that he took more measures to focus on diversity at Target.

He's an advocate of inclusion and diversity in top leadership. Cornell is a board member for Catalyst. He has also served on the Council for the Smithsonian National Museum of African American History and Culture. He was honored with the William J. Grize Gender Diversity Award by the Network of Executive Women.

Cornell was one of the business leaders who met President-elect Joe Biden in 2020 after he won the election. Biden spoke to business leaders earlier in November 2020 about the supply chain crisis in the U.S.