Drayton McLane, Jr.
Temple, Texas
Bachelor of Arts/Science, Baylor University | Master of Business Administration, Broad College of Business
United States
5
Walmart, logistics
$2,600,000,000
1008
2
#1008 Billionaires 2019
#354 Forbes 400 2018
Drayton McLane turned his family's grocery distribution company, McLane Co., into an international firm and sold it to Walmart.McLane became president and CEO of the company and ran it for almost 30 years, averaging a yearly sales growth of 30%.In 1991, he sold McLane Co. to his friend Sam Walton for $50 million and 10.4 million shares of Walmart.In 2003, Walmart sold the company to Warren Buffett's Berkshire Hathaway for $1.45 billion.Shortly after 1991, he founded McLane Company, a holding company with a wide array of investments, including a stake in the Houston Astros.
McLane started working for the family business at the age of nine, spending Saturdays and summers sweeping floors and stacking inventory.As a result of donations to both of his alma maters, Michigan State University and Baylor University have stadiums named after him.
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