How rich is John Mars?
John Mars net worth is
People also search for
John Mars Net Worth, Biography & Wiki 2017
John Franklyn Mars was born on 15 October 1935, in Arlington County, Virginia, USA, and is best known as co-owner – with his siblings Forrest Jr. and Jacqueline – of the Mars confectionary company, and as such is rated by Forbes magazine as the joint 22nd richest person in the world in 2015.
John Mars Net Worth $27 Billion
So just how rich is John Mars? Forbes magazine estimates that John’s net worth is currently $27 billion, virtually all his wealth having been accumulated from his ownership of one-third of the Mars company, of which he has also been the CEO since 1999.
John Mars is the son of Forrest Mars Sr., and grandson of Frank C. Mars, founders of the American candy company Mars, Incorporated, reputedly started by Frank in the kitchen of his Tacoma, Washington home in 1911.
John Mars was educated at the Hotchkiss School in Lakeville, Connecticut, and subsequently graduated from Yale University with both a BA and BSc in engineering in 1957.
John Mars, with his brother, Forrest Jr., and sister Jacqueline, own Mars, the world’s largest candy company thanks in part to its $23 billion acquisition of gum maker Wrigley’s in 2008. The company is also the fifth largest in the USA. The candy maker’s most famous brands also include Milky Way, M&M’s, 3 Musketeers, Twix, Skittles, and Snickers, reportedly named for the Mars family’s favorite horse. It was her father Forrest Sr. who invented malt-flavored nougat and M&M’s, over 400 million of which are produced in the United States each day. Mars has since branched out into consumer and pet foods with the well known brands Uncle Ben’s Rice and Whiskas under the Mars umbrella. The closely held company has annual revenue of more than $30 billion.
John Mars, along with his brother and sister, took over the family business after their father died in 1999. John is the CEO of the company while Jacqueline was made the Corporate Vice President of Mars Inc. No one from the Mars family currently holds any executive position in the company. John’s net worth derives both from his inheritance, and from the on-going profits made by the company. He is also paid a notional salary by virtue of his position as CEO.
In his personal life, John Mars married Adrienne Bevis in 1958, and they have three children. The family now resides in Jackson, Wyoming.
As with most billionaires, John is a generous philanthropist, including donating a gift of $2 million to establish and permanently endow the Forrest Mars Sr. Visiting Professorship in Ethics, Politics and Economics at Yale University.