Jim Sinegal Net Worth $2 Billion
Costco – the Story
Costco is an international retail chain using a membership-only warehouse club that supplies a wide range of merchandise. It’s the second largest retailer in the United States, the seventh largest retailer on the planet and the greatest membership warehouse club chain in the United States at the time of July 2012.
He began accumulating his estimated net worth of $2 billion when he was employed as a bagger at FedMart in 1954. He’s worked his way up to executive vice president who’s in-charge of merchandising and operation. From 1978 to 1979, he became the vice president for the Price Company.
In the company’s beginning until 1993, Jim Sinegal was the President and Chief Operating Officer. Jim has served as the Chief Executive Officer from August 1998 until October 1993. Jim has become the President and Chief Executive Officer since October 1993. He retired as the CEO in January 1, 2012.
Mr. Sinegal co-founded Costco in 1983 along with Seattle retailer Jeff Brotman. Since its beginning, he has been the manager and has turned the business into one of the hottest reduction warehouse in the U.S. It offers a broad range of services which spans from selling fresh fruits to offering eye care, clinics and pharmacies. It’s even grown to gas stations that offered low-priced gasoline across the country.