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Procter and Gamble Net Worth, Biography & Wiki 2017
Procter & Gamble is an American consumer goods corporation founded in 1837 in Cincinnati, Ohio, USA. It is a company specializing in cleaning agents, personal care and hygiene products, with over 105,000 employees and is currently covering all five continents.
Have you ever wondered how rich Procter & Gamble is, as of early 2017? According to authoritative sources, it has been estimated that P&G’s net worth is as high as $220 billion, an amount earned through the successful sales of various products such as detergents, shampoos, toothpaste, personal and beauty products, among others.
Procter & Gamble Net Worth $218.9 Billion
Procter & Gamble was established on the 31st October 1837 by the candlemaker William Procter and soapmaker James Gamble, who emigrated from England and Ireland respectively, and settled in Cincinnati, Ohio.
From 1858 to 1859, the company recorded $1 million in sales, thanks to which a contract was won to distribute of soaps and candles during the American Civil War, while in the 1880’s, P&G started making the new, inexpensive soap that floats in water. The company continued to grow, and in 1911 they developed the shortening made from vegetable oils instead of animal fats called Crisco, while with the expansion of radio, P&G sponsored numerous radio shows, and then the “soap operas” era began.
As the market expanded, P&G moved into other countries, and in 1930 they acquired Thomas Hedley Co., which was based in Newcastle, England, and since that moment, Procter & Gamble operated as an international corporation. After WWII, P&G started producing the laundry detergent Tide in 1946, and Prell shampoo in 1947. In the mid-50s, they began selling Crest, the first fluoride toothpaste, while in 1957 P&G began producing toilet and tissue paper products, following the purchase of Charmin paper mills. The first disposable diapers called Pampers came out in 1961, and the same year P&G began making the famous shampoo Head & Shoulders. As the corporation continued to grow, P&G bought various companies such as Max Factor, Old Spice, and Pantene, among others, considerably increasing assets and boosting sales.
With the acquisition of Gillette in January 2005, Procter & Gamble became the largest consumer goods company in the world, adding such brands as Gillette razors, Oral-B, Duracell, and Braun. Although they were involved with food production as well, P&G decided to sell Pringles snack foods to Kellogg’s in 2012 for $2.75 billion, so at the moment, the company is producing 65 brands worldwide.
Procter & Gamble operates in ten different categories such as baby care, fabric care, family care, feminine care, and grooming. They are also making products for grooming, hair care, home care, oral care, personal health care, and skin & personal care. The P&G’s board of directors currently consists of ten members: Frank Blake, David S. Taylor, Angela Braly, Kenneth Chenault, Patricia A. Woertz, Scott Cook, Terry J. Lundgren, W. James McNerney, Jr., Meg Whitman, and Ernesto Zedillo. Some of P&G’s brands with net sales of $1 billion or more per year are: Always, Ariel, Gillette, Head & Shoulders, Oral-B, Pampers, Pantene, and Tide.