Net Worth Ranker
What Is John Mackey’s Net Worth?
John Mackey, the American businessman, writer, and co-founder of Whole Foods Market, has a net worth estimated at $85 million. He is widely recognized for his role as the CEO of Whole Foods Market and his influence in the organic food movement.
Components of John Mackey’s Net Worth
Mackey’s net worth is primarily composed of his stake in Whole Foods Market and earnings from his leadership role. As of June 2017, when Amazon acquired Whole Foods for $13.4 billion, Mackey owned approximately 1 million shares, representing about 0.5% of the company’s outstanding shares. At a purchase price of $42 per share, his stake was worth $42 million before taxes.
Despite his significant stake in Whole Foods, Mackey’s annual salary was notably modest. For many years, he earned only $1 per year and ceased taking additional stock grants in his own company in 2007. This decision reflects his commitment to capping executive compensation and contributing to charitable causes.
John Mackey’s Early Career and the Founding of Whole Foods
John Mackey’s journey into the natural foods business began in 1978 when he co-founded his first health food store, SaferWay, with his then-girlfriend Renee Lawson. To start SaferWay, Mackey borrowed $45,000 from family and friends. Mackey and Lawson were evicted from their apartment for storing inventory and moved into the store. In 1980, SaferWay merged with Clarksville Natural Grocery, leading to the birth of Whole Foods Market. From its humble beginnings in Austin, Texas, Whole Foods expanded to over 460 stores across the U.S., Canada, and the U.K., generating approximately $16 billion in annual revenue.
Amazon Acquisition and Subsequent Events
When Amazon acquired Whole Foods in June 2017 for $13.7 billion, Mackey’s stake of approximately 1 million shares was valued at $42 million pre-tax, given Amazon’s payment of $42 per share. Following the acquisition, Mackey continued to serve as CEO of Whole Foods for several years, stepping down in 2022 after 44 years with the company. After stepping down as CEO, Mackey embarked on a new venture, Love. Life, a health and wellness brand focused on uniting nourishing food, holistic medical care, and wellness therapies.
Lifestyle and Personal Choices
Despite his business success, John Mackey is known for his frugality. In 2011, even as Whole Foods’ market value reached $11.7 billion, Mackey drove a five-year-old Honda Civic. He adheres to an organic and plant-based diet, aligning with Whole Foods’ ethos. Mackey identifies as a Perennialist and shares his life between Austin and a 720-acre ranch with his wife, Mary Kay Hagen, with whom he shares a dedication to yoga.
