Bill Marriott Jr. Net Worth

What Is Bill Marriott Jr.’s Net Worth?

Bill Marriott Jr. boasts a substantial net worth of $2.6 billion, firmly establishing him as one of the wealthiest individuals in Maryland. This impressive fortune stems primarily from his association with Marriott International, the globally recognized hotel giant. He owns slightly over 11% of Marriott’s outstanding equity.

Early Life and Education

John Willard “Bill” Marriott Jr. was born in Washington, D.C., on March 25, 1932, the son of J. Willard Marriott, the founder of the Marriott Corporation, and Alice Sheets Marriott. In 1954, Bill Marriott graduated from the University of Utah with a Bachelor of Science degree in banking and finance. After graduation, he served as an officer in the United States Navy for two years, followed by joining the family business in 1956.

Career at Marriott Corporation

Upon entering the Marriott Corporation, Bill Marriott took on various roles to gain a comprehensive understanding of the company’s operations. He was tasked with managing Hot Shoppes, the company’s original chain of restaurants. In 1964, he was promoted to Executive Vice President, where he oversaw operations and played a key role in the development and expansion of the Marriott hotel brand.

Expansion of the Marriott Brand

Under Bill Marriott’s leadership, the company expanded both domestically and internationally. In 1967, Marriott opened its first international property in Acapulco, Mexico. By 1983, the company had opened its 100th hotel. The expansion strategy involved diversification and introduction of new brands. In 1984, Courtyard by Marriott, targeting the mid-priced hotel market, was launched.

Marriott International

In 1993, Bill Marriott oversaw the split of the Marriott Corporation into two entities: Marriott International and Host Marriott Corporation. Marriott International focused on hotel management and franchising, while Host Marriott Corporation concentrated on real estate ownership. As Chairman and CEO of Marriott International, Bill Marriott drove the company’s growth and expansion. In 2016, Marriott acquired Starwood Hotels & Resorts Worldwide, making Marriott the largest hotel company in the world, with over 1.1 million rooms across 30 brands. In 2011, when Bill Marriott announced that he would step down as CEO, Marriott International had annual revenues of more than $12 billion.

Maryland Mansion

In 1996, Bill and Donna Marriott purchased a 6+ acre estate in Rockville, Maryland, for $3.65 million. The property features a 10,000 square foot mansion with 8 bedrooms and 12 bathrooms.

Philanthropy and Personal Life

Bill Marriott is married to Donna Garff Marriott. They have four children, 15 grandchildren, and twenty great-grandchildren. Through the J. Willard and Alice S. Marriott Foundation, Bill Marriott has overseen the donation of millions of dollars to various causes, including scholarships, medical research, and community initiatives.