Craig Jelinek, the former CEO of Costco, has seen his wealth grow significantly thanks to his long career at the retail giant. Known for leading Costco through years of growth and success, Craig Jelinek net worth reflects his leadership, stock holdings, and impressive compensation package. At WorldofCEOs, we take a deep dive into his earnings, stock, and other financial details to give you an updated look into his financial landscape.
Craig Jelinek Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Walter Craig Jelinek |
| Popular Name | Craig Jelinek |
| Gender | Male |
| Birth Date | August 8, 1952 |
| Age | 72 years old |
| Parents | Walter Adolph Jelinek, Erdene Gordon |
| Siblings | N/A |
| Birthplace | Los Angeles, California, U.S. |
| Nationality | American |
| Ethnicity | Czech descent |
| Education | San Diego State University |
| Marital Status | N/A |
| Spouse | N/A |
| Children | N/A |
| Dating | N/A |
| Net Worth | $300 million |
| Source of Wealth | Costco, Investments |
| Height | N/A |
What is the Net Worth of Craig Jelinek in 2024?
As of 2024, Craig Jelinek’s net worth is estimated at $300 million, largely driven by his stock holdings and compensation from his tenure as CEO of Costco. When compared to others in similar positions, his net worth is impressive but not the highest in the industry. Below are some individuals and companies related to his field:
- Jim Sinegal
- Sol Price
- Ron Vachris
- Costco
- Price Club
- FedMart
- Lucky Stores
- San Diego State University
For more on the wealthiest business leaders, check out the top CEOs in the world.
Finance Overview
How He Accumulated His Wealth Through Costco
Craig Jelinek began his journey at Costco in 1984, working his way up from a warehouse manager to eventually becoming the CEO in 2012. His leadership saw the company expand globally, solidifying its position as a leader in retail. Merging with Price Club, which was founded by Sol Price, was a key moment in Costco’s growth.
During his tenure, Costco became known for its bulk discount model, offering everything from organic foods to rotisserie chicken at competitive prices. These decisions helped grow the company’s revenue, contributing to his overall wealth.
His Salary and Compensation as Costco CEO
Craig Jelinek’s financial success is also tied to his impressive salary and compensation packages during his time as CEO. His base salary reached $800,000, but with additional bonuses, stock grants, and other forms of compensation, his total earnings in 2023 amounted to $16.9 million. This reflects his influence over Costco’s success and global expansion. The company, under his leadership, generated $222 billion in revenue by 2022.
His Stock Holdings and Investments
One of the key drivers of Jelinek’s wealth has been his stock holdings in Costco. He holds approximately 400,000 shares, valued at around $340 million as of mid-2024. The value of these shares has fluctuated, but consistent company growth has ensured that his stake in the company remains substantial. His stock investments reflect his long-term belief in Costco’s success, contributing significantly to his wealth.
The Key Leadership Decisions That Impacted His Financial Success
Jelinek’s decisions during his leadership significantly impacted Costco’s performance and his financial success. Notably, the company’s global expansion was a major factor in increasing both its revenue and reputation. He maintained Costco’s commitment to quality while keeping prices low, famously refusing to raise the price of its $1.50 hot dog. These strategic decisions not only helped maintain Costco’s appeal but also ensured Jelinek’s continued financial growth.
Awards and Recognitions that Contributed to His Professional Reputation
While Craig Jelinek was not as public-facing as some of his peers, his leadership and dedication did not go unnoticed. In 2019, he was awarded the Peter G. Peterson Business Statesmanship Award, an acknowledgment of his ethical and visionary leadership in the business world. Such awards further enhanced his professional reputation, indirectly contributing to his financial success.
Post-Retirement Role and Continued Influence on Costco’s Success
Although Jelinek stepped down as CEO in 2023, he remains a key figure at Costco, serving as an advisor and board member. His continued involvement in the company ensures that his influence is still felt, and his legacy as a successful leader persists. This advisory role may also continue to impact his financial situation, as he remains tied to the company’s future success.
Educational Background and Early Career Contributions to His Financial Growth
Jelinek’s journey began long before his Costco days. He graduated from San Diego State University in 1975, where he developed the skills that would later serve him in leadership roles. Before joining Costco, he worked at FedMart and Lucky Stores, experiences that shaped his approach to retail and operations. These early roles laid the foundation for the financial success he would later achieve.
FAQs About Craig Jelinek
What role did he play in Costco’s expansion?
Jelinek was instrumental in expanding Costco’s global footprint, helping the company grow its number of warehouses and its international presence.
What awards has he received?
Jelinek was honored with the Peter G. Peterson Business Statesmanship Award in 2019 for his leadership in the business world.
When did he retire as Costco CEO?
He stepped down as CEO in 2023 but continues to serve as an advisor and board member.
What was his early career like?
Before joining Costco, Jelinek worked at FedMart and Lucky Stores, where he gained significant experience in retail operations.
How many shares of Costco does he own?
Jelinek holds 400,000 shares of Costco, which are valued at around $340 million as of mid-2024.
What was his salary during his tenure as CEO?
His base salary was $800,000, but with bonuses and stock grants, his total compensation reached $16.9 million in 2023.
Where did he go to college?
Jelinek attended San Diego State University, where he graduated in 1975.
Who succeeded him as Costco CEO?
Ron Vachris took over as CEO after Jelinek stepped down in 2023.
Conclusion
At WorldofCEOs, we’re passionate about keeping you informed on the financial journeys of top business leaders like Craig Jelinek. If you’re curious about more insights or want to share your thoughts, feel free to leave a comment or check out more content at worldofceos.com.
