Brian Cornell Net Worth – $100 million
What are Brian Cornell’s net worth and salary? Who is Brian Cornell’s wife?
Introduction
When it comes to American businessmen, Brian C. Cornell’s life story is one of the most inspiring ones.
The now-CEO of Target had faced much hardship during his early years, and it was through hard work that he managed to climb up the job ladder.
The Origin Story
Cornell was born in 1958, in Queens, New York City, to a troubled family.
His parents split when he was only 6 years old, after which point in time, he was predominantly raised by his maternal grandparents, as his mother had a heart disease and was living on welfare.
This led to Cornell taking on a number of odd jobs during his childhood and teenage years.
To put himself through, he took on retail positions, a job coaching football at a high school football team, and even a job washing Tropicana trucks at a distribution center.
All these different jobs allowed him to graduate from the University of California, Los Angels (UCLA) in 1981.
For the next decade, Cornell’s career was predominantly focused on the retail market, and he was soon working in executive levels of several different major brands.
In contrast to most, Cornell moved around a number of different companies.
@Getty
Information on the specific jobs that he took on during this time is not widely available.
What we do know is that ten years after his graduation from UCLA, he returned to the Anderson School of Management, from where he graduated in 1991.
PepsiCo
In a sort of homage, he then went on to work for Tropicana until the company was bought by PepsiCo in 1998.
During his time there, he took on different leadership roles and even became the president of Tropicana and PepsiCo’s North American food services for a time.
His first big move came in 2004 when Cornell left PepsiCo to take on a Chief Marketing Officer and Executive Vice President position at Safeway Inc, a California grocery chain.
During his time there, he rebranded parts of the company and was a major driving force for the companies ‘Ingredients for Life’ campaign, which at the time was one of the biggest campaigns made by a grocery store.
In 2007, another big move came his way as he left Safeway and moved to Michaels, a chain of arts and crafts stores, where he took on the position of CEO.
His time as CEO of Michaels was short-lived, as in his first year serving, the company experienced a loss of $5 million.
This led to Cornell’s resignation from the company and his subsequent move to Sam’s Club in 2009.
He was the CEO of Sam’s Club for 3 years before making another move in 2012.
From 2012-2014, he served as the CEO of PepsiCo America’s food, as a subsidiary of PepsiCo.
Target
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The most notable move in his career came in 2014 when he was the first outside hire to come on as CEO for the retail brand Target.
Cornell was brought on in an effort to bring in an outsider’s perspective that would assist the brand in rebuilding its image after the controversy brought on by the 2013 data breach, which resulted in a class-action lawsuit against the brand.
Cornell’s reputation as a hands-on CEO, alongside his attention to detail and data-driven decisions, has allowed him to expand and utilize Target’s digital capabilities.
In 2019, the company saw a 5.7% growth in sales in the months of November and December.
This success is also a result of Cornell’s approach of hiring outsiders so as to update the corporate culture.
He has also often visited stores and discussed specific questions with consumers so as to get a better understanding of their needs and wants when it comes to their shopping experience.
In 2019, he was also branded CEO of the Year by CNN’s Business.
Apart from his work as Target’s CEO, Cornell is also on the Board of Directors of Yum!Brands since 2015.
Outside of the business world, he also serves on the Board of Directors for the Museum Council for the Smithsonian’s National Museum of African American History and Culture.
Continuing his long association with UCLA, he also serves on the Board of Visitors of the UCLA Anderson School.
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Wife
While his accomplishments in the world of business are well known, Brian Cornell chooses to keep his family life a bit more private. Brian Cornell is married to Martha Cornell, with whom they have both a daughter and a son.
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In past interviews, he has noted his daughter’s excitement regarding him taking on the position of CEO of Target.
He has stated that his daughter is a big fan of the retail company and, as such, was excited about him getting this position.
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Brian Cornell – Net Worth
So, how much is Brian Cornell worth? Cornell earned most of his wealth from serving as the CEO of the Target Corporation. The company has over 2,000 stores in the US. Brian Cornell has an annual base salary of $1.4 million. Therefore, Brian Cornell has an estimated net worth of $100 million.
In 2021, Cornell was paid $19.8 million. In 2022, he made over $17.6 million.
Brian and his family appear to own a new condo in Minnesota, which was purchased at the price of approximately $1 million.
It is unclear whether that is their current place of residence, but the new home was purchased in 2020, after the sale of their previous home for around $1.9 million.
Cornell’s home is only one part of his assets, as he is known to own Target Corp stock.
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