John Gerard Stumpf's Net Worth as of 2024
$50 Million
John Gerard Stumpf was born on the 15th September 1953 in Pierz, Minnesota USA, of Polish and German ancestry. He is a businessman, entrepreneur, and investment baker, who is probably best known for being the CEO, Chairman and President of Wells Fargo & Company, an American international banking and financial services holding company. He has been an active member of the business industry since the early 1980s.
Have you ever wondered how rich John Stumpf is, as of mid-2016? According to authoritative sources, it has been estimated that the total size of John’s net worth is as high as $50 million, which has been accumulated through his successful career as a businessman and banker, and is likely to increase as his annual salary is equal to $23 million per year.
John Stumpf Net Worth $50 Million
John Stumpf was raised in a big Catholic family on a dairy farm, one of 11 children born to Herb Stumpf, who was a dairy farmer, and his mother, Elvira Stumpf. After graduation from Pierz Healy High School, the family did not have enough money for him to continue education, so he began working as a bread maker in a bakery. After a year, he became a student at St. Cloud State University, from which he graduated with a BA degree in Finance. Later, he earned his MBA degree from the Carlson School of Management, University of Minnesota.
John`s career began in the early 1980s, when he became an employee of the Northwestern National Bank, in the sector of loan administration, but soon moved to a level higher, becoming the senior vice president and chief credit officer for Norwest Bank, N.A., Minneapolis. Little by little his career began to improve, which resulted in an increase to his net worth. By the end of the 1980s, he had served in several management positions in the Norwest Bank Minneapolis and Norwest Bank Minnesota. However, in 1989 he took a further step upwards, assuming the position of manager of the Norwest Bank Arizona, and two years later he became the regional president for Norwest Banks in Colorado/Arizona. Three years later he was named as the regional president for Norwest Bank Texas, a position in which he served until 1998. During his stint as regional president, Norwest Bank Texas acquired 30 Texas banks, with accumulated assets worth over $13 billion.
Norwest Corporation was acquired by Wells Fargo & Company in 1998, and Stumpf was promoted to the position of head of the Southwestern Banking Group, which certainly increased his net worth by a large margin, however, two years later, he assumed a new position, as head of the new Western Banking Group.
Little by little, John became more and more involved in high level operations, and in 2006 he became one of the members of the Board Of Directors. The following year, he became its CEO, and in 2010 he was named as the chairman of the Wells Fargo Bank, which has been the main source of his net worth since then.
Thanks to his successful career, John has received several accolades, including the Banker of the Year in 2013, then being named in the 50 Most Influential Business people list of Bloomberg Markets magazine in 2012, among others. John Stumpf keeps his private life for himself, so there is no information in the media about it, except the fact that he has been married to his high school sweetheart, Ruth Spanier, since 1975.
