From Co-Founding Whole Foods to Supporting Conscious Capitalism: John Mackey's Growth and Net Worth
Co-founding Whole Foods in 1980, Mackey has been a driving force in the organic food movement. His accolades include the prestigious Entrepreneur of the Year award from Ernst & Young in 2003
Dec. 1 2023, Published 8:31 a.m. ET
Name
John Mackey
Net Worth
$85 Million
Salary
$1 million+
Source of Income
Business
DOB
Aug 15, 1953
Age
70 years old
Gender
Male
Profession
American
Nationality
CEO of Whole Foods Market
What is John Mackey's net worth?
Anyone who prefers organic produce has probably heard of Whole Foods Market, a firm co-founded by the visionary American entrepreneur John Mackey, who now boasts of a net worth of $85 million. Mackey has been a driving force in the organic food movement ever since he launched Whole Foods back in 1980, a feat which earned him the prestigious Entrepreneur of the Year award from Ernst & Young in 2003. Apart from his success in business, Mackey is also a prominent figure in the Libertarian Party, who has authored bestsellers like "Conscious Capitalism" and "Conscious Leadership," where he makes a case for ethical business practices.
What are John Mackey's sources of income?
Mackey's primary source of income stems from his role as the CEO of Whole Foods Market. Beyond his executive duties, Mackey is also an accomplished writer, thanks to the success of his books in the business and finance genre.
John Mackey's salary
Despite the top position at his firm, Mackey earned a mere $1 in salary for several years. His commitment to principles made him forgo additional stock grants in his own firm since 2007.
Business ventures
Mackey's journey began with the establishment of SaferWay in 1978, a health food store co-founded with his girlfriend, Renee Lawson. The subsequent merger with Clarksville Natural Grocery birthed Whole Foods Market. The company's growth has been astronomical, expanding to over 460 stores across the US, Canada, and the UK, generating an annual revenue of $16 billion.
Total assets
Mackey's assets include his stake in Whole Foods, which amounts to nearly one million shares, constituting about 0.5% of the total outstanding shares, valued at approximately $32 million.
Earnings growth by year
Year
Earnings
2021
$65 Million
2022
$75 Million
2023
$85 Million
Personal life
As for his personal life, Mackey is known for frugality despite his business success. Despite Whole Foods' market value of $11.7 billion in 2011, Mackey continued to drive a five-year-old Honda Civic and maintained a modest lifestyle. His commitment to an organic and plant-based diet aligns with the ethos of Whole Foods.
Mackey identifies as a Perennialist, showcasing his openness to various philosophies. He has been in a long-time relationship with Mary Kay Hagen and the couple, dedicated practitioners of yoga, divides their time between Austin and a sprawling 720-acre ranch.
FAQs
How did John Mackey become successful in the grocery business?
Mackey co-founded his first health food store, SaferWay, in 1978 and later merged it with Clarksville Natural Grocery to form Whole Foods Market.
What percentage of Whole Foods did John Mackey own when Amazon acquired the company?
At the time of Amazon's acquisition of Whole Foods in June 2017, John Mackey owned approximately 0.05% of Whole Foods' outstanding shares, equivalent to about 1 million total shares.
What is John Mackey's role in Whole Foods Market as of 2023?
As of 2023, John Mackey is the CEO of Whole Foods Market.
What charity work is John Mackey involved in?
John Mackey was the visionary for the Whole Planet Foundation, and he has contributed to various charitable initiatives.
What is John Mackey's approach to personal lifestyle and spending despite his financial success?
Despite his financial success, John Mackey is known for his frugality. He drives a five-year-old Honda Civic, stays in low-cost hotels, and always flies commercial.
What books has John Mackey authored, and what are they about?
John Mackey authored books such as "Conscious Capitalism," "Be the Solution: How Entrepreneurs and Conscious Capitalists Can Solve All the World's Problems," and "Conscious Leadership: Elevating Humanity Through Business." These books focus on conscious business practices and entrepreneurship.