Marvin Ellison Net Worth
Marvin Ellison has been the CEO of Lowe’s since 2018. He was appointed to the position in July 2018. This is not the first time that he has led a Fortune 500 company. In fact, he has been in the industry for nearly 30 years. Throughout his career, he has held a number of senior positions at companies such as Target, J.C. Penney, and The Home Depot.
Ellison graduated from the University of Memphis with a business administration degree. After graduating, he began working at Target. During his fifteen years at Target, he held a variety of positions. Some of his more prominent roles were manager of the stores’ merchandise department, corporate director of Asset Production, and vice president-loss prevention. His tenure at Target was filled with change, and he helped improve the company’s efficiency.
After leaving Target, he went on to work at Home Depot. As a result, he was given the responsibility of the Northern Division, which included seven stores in five states. Upon his appointment, he began improving the company’s efficiency and increasing sales.
Marvin Ellison has also worked with JC Penney. Before serving as the chief executive officer at JCPenney, he was a director and the CEO-designee at the company. Prior to his work at JC Penney, he received a number of other notable leadership positions. He served as an independent director of FedEx Corporation, and as the director of H&R Block, Inc. He has been recognized as one of the most influential African American CEOs in the retail industry.
While in charge of Lowe’s, Ellison received a substantial increase in pay. He received $23 million in total compensation in 2020. This figure was a 99 percent increase over his total pay in the year before. In addition to his base salary, he also received $5.8 million in non-equity incentive plans, and received a $1.5 million bonus for his performance during the year. These bonuses came to represent 59 percent of his overall compensation.
Although not much is known about Marvin Ellison’s personal life, he appears to be fairly tall. He has a height of five feet six inches. He is married to Sharyn Ellison and they have two children. They live in Dallas, Texas.
According to his LinkedIn profile, he owns a net worth of approximately $30 million. The majority of his earnings have come from the sale of Yeezy sneakers. Other sources of income include stock awards. Despite his relatively low net worth, he is an accomplished business leader. He was recognized as a member of the Fortune 500’s “Greatest Leaders” list.
Marvin Ellison has a number of social media accounts. He has over 7,000 followers on Twitter, and thousands more on Facebook. Despite his success in the business world, he has remained a family man. Marvin and Sharyn have a daughter and a son. Despite the fact that their relationship has not always been easy, the two have managed to remain friends and remain happy.