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What is Jim Sinegal’s Net Worth and Salary?Jim Sinegal is an American business executive who has a net worth of $1 billion. Jim Sinegal has earned his fortune as the co-founder and former CEO of Costco, the largest membership retail chain in the United States. Sinegal co-founded Costco with Seattle retailer Jeff Brotman in 1983. He retired as CEO in 2012 and retired from the Board of Directors in 2018. He was succeeded by Craig Jelinek. There are nearly 800 Costco locations worldwide and annual revenue exceeds $200 billion.SalaryJim Sinegal famously accepted a relatively modest annual salary compared to his Fortune 500 peers. Jim’s base salary was $350,000. Many executives of similarly-sized companies spent more per year on personal security. In 2010, Sinegal earned $3.5 million with his stock options factored in. The median salary and compensation for other Fortune 100 CEOs that year was $9.3 million.Jim’s total compensation increased substantially when bonuses and stock options were awarded each year. For example, in an average year Jim might have earned a $200,000 bonus and $4 million worth of options.Early LifeJames Sinegal was born on January 1, 1936, into a working-class Catholic family in Pittsburgh. His family moved to San Diego while he was in high school and he graduated from Helix High School. He got his AA degree at San Diego City College and his BA from San Diego State University in 1959. While he was in college, he got a job as a grocery bagger at FedMart. He discovered that he loved the retail business. He worked his way up at FedMart to executive vice president of merchandising and operations. From 1977 to 1978 he was vice president of merchandising for Builders Emporium. He was an executive vice president with the Price Company from 1978 to 1979. He was the protégé of Sol Price, the father of the warehouse club store concept.CostcoIn 1983, Sinegal co-founded Costco with Seattle retailer Jeff Brotman. A decade later, Costco merged with the pioneer of the warehouse discount concept, the Price Company. Costco is now one of the largest retailers in the world. There are approximately 800 Costco stores in the world.In 1993, the growing competition was threatening both Costco and Price Club. The two companies partially merged when Price’s earnings dropped to 40%. The new company was renamed PriceCostco. It focused on international expansion and opened stores in Mexico, England, and South Korea. However, sales continued to drop. Sinegal and Robert Price had different ideas on how to run the company. The two companies went their separate ways in 1994. Sinegal changed the name of his company to Costco Wholesale in 1997.During his time as CEO, Jim famously traveled to each Costco location every year to inspect them personally. Costco was the first warehouse club to include fresh food, eye-clinics, pharmacies, and gas stations – all of which were Sinegal’s ideas. Sinegal is known for a management style rooted in the belief that employees who are treated well will in turn treat customers well. Costco provides compensation and benefits for his employees that are significantly higher than the retail norm. Over 90% of Costco employees qualify for employer-sponsored health insurance. Costco has the lowest employee turnover rate in retail. One story that is often recounted about Sinegal is how, when he found out Costco was paying 88% of employee health care expenses when the company had committed to paying 90%, he reimbursed the employees for the extra 2% in the form of stock directly into their 401Ks so it wouldn’t be taxed.Sinegal is considered one of the most prominent retail figures in American modern history. Sinegal served as President and CEO of Costco until 2012. On January 2012 (his 76th birthday), Sinegal announced he was stepping down from the empire he built over the previous three decades.He was succeeded by Costco’s president and chief operating officer, Craig Jelinek. Jelinek joined Costco in 1984 as a warehouse manager.Hot Dog QuoteCostco has famously kept the price of hot dogs from its restaurants locked at $1.50 even as inflation raised the prices of many other products. According to legend, one day Craig Jelinek approached Sinegal and complained that the company was losing money on every hot dog it sold. Here’s how the conversation allegedly went, according to an interview with Jelinek:Jelinek: “I came to (Sinegal) once and I said, ‘Jim, we can’t sell this hot dog for a buck fifty. We are losing our rear ends.”Sinegal: “If you raise the price of the effing hot dog, I will kill you. Figure it out.”Jim was asked about hot dog prices again in a July 2022 CNBC interview. In the interview, Jim Cramer asked him if American’s might see an increase in hot dog prices considering all other commodities had sky rocketed in price due to inflation. Sinegal repled:”No.”Personal LifeSinegal and his wife Janet met in college at SDSU. They have three grown children. They live in a waterfront mansion on Lake Washington where their neighbors include Steve Ballmer and John Nordstrom.

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Steffi Graf Net Worth: Steffi Graf is a German former World No. 1 tennis player who has a net worth of $145 million. That is a combined net worth with her husband of 20+ years, fellow retired professional tennis player Andre Agassi. During her career she won 22 Grand Slam singles titles, the third most in history, and was ranked world number one for a record 377 weeks by the Women’s Tennis Association. Graf is the only tennis player to have won each Grand Slam tournament at least four times; overall, she racked up 107 singles titles during her career. Career Earnings: During her career Steffi earned $21 million in tournament prizes. That’s the same as around $40 million in today’s dollars. She earned tens of millions more from endorsements. Early Life and Career Beginnings: Stefanie Maria Graf was born on June 14, 1969 in Mannheim, West Germany, the daughter of Heidi Schalk and Peter Graf. Her father was an aspiring tennis coach, introducing Graf to the game by teaching her how to wield a wooden racket at the age of three. At the age of four, she began practicing on court, and entered her first tournament when she was five. Soon enough, she was winning the top prize at numerous junior tournaments. In 1982, Graf participated in her first professional tournament, ultimately losing her first round match to US Open champion Tracy Austin. The following year, at age thirteen, she began her first full professional year, and was ranked world number 124. Although she didn’t win any titles over the following three years, her rank consistently climbed, landing her at world number six in 1985. In April of 1986, Graf won her first Women’s Tennis Association tournament, and the next year, amassed six tournament victories heading into the French Open. On a hot streak, Graf ultimately surpassed Martina Navratilova to take the world number one ranking, which she held on to for 186 more consecutive weeks. Grand Slam and Golden Slam: Graf began 1988 by defeating Chris Evert and winning the Australian Open, not losing a single set during the tournament. She then won the tournament in Berlin, defended her title at the French Open, and conquered Wimbledon by coming from behind to defeat Navratilova. Finally, upon winning the US Open, Graf took the Grand Slam title, the only such title in history completed across three surfaces: clay, hard court, and grass. The cherry on top of this honor came during the summer Olympic Games in Seoul, where Graf beat Gabriela Sabatini in the gold medal match, and became the first and only Golden Slam winner in history. New Dominance, Injuries, and Final Tour Years: After dealing with a series of injuries and losses in the intervening years, Graf came back on top in 1993, winning three of four Grand Slam events in addition to the Virginia Slims championships. She won her first French Open since 1988, and conquered Wimbledon by defeating Jana Novotná. The next year, she won the Australian Open and an assortment of tournaments across the globe. However, while competing (and winning) in San Diego, Graf aggravated a long-time back injury, and developed a bone spur at the base of her spine due to a congenital condition. From 1994 to 1996, various ailments and surgeries disrupted her career, causing her to withdraw twice from the Australian Open. Despite the setbacks, Graf still managed to win a number of titles, including Wimbledon in 1995. The final of that championship is widely recognized as one of the most exciting in women’s major finals history, with a dramatic third set that involved a 16-minute long, 13-deuce game. Graf’s final tour years from 1997 to 1999 were plagued with further injuries to her knees and back, causing her to lose her world number one ranking and, for the first time in a decade, the Grand Slam title. After racking up a handful of high-profile wins, Graf finally announced her retirement from the women’s tour in 1999, attributing the decision to a loss of motivation. Tax Issues: In 1995 Steffi was accused of tax evasion by German tax authorities related to earnings from early in her career. Steffi places the blame on her father who was her financial manager during those early years. Her father was arrested, convicted and sentenced to 45 months in jail. He served 25 months. Steffi had to pay 1.3 million Deutsche Marks in penalties and fines. Post-Career Matches: As part of her farewell tour in 1999 and 2000, Graf played a series of global exhibition matches against past competitors. These included games against Amanda Coetzer in South Africa, Jelena Dokic in New Zealand, and Sánchez Vicario in Spain; the latter match was the first head-to-head between the two women since 1996. Graf later participated in a number of other exhibitions in cities including Tokyo, Berlin, and Washington, DC. Personal Life: Throughout her career, Graf split her time between Brühl, Germany; Boca Raton, Florida; and the SoHo neighborhood of New York City, where she owned a penthouse located in the former Police Headquarters Building. In her romantic life, Graf dated racing driver Michael Bartels from 1992 to 1999; she then dated fellow professional tennis player Andre Agassi, whom she married in 2001. Graf and Agassi have two children, a son and a daughter, and live in the Summerlin community in the Las Vegas Valley. On the business side of things, Graf is the founder and chairperson of Children for Tomorrow, a non-profit foundation that develops projects to support traumatized kids. Legacy and Honors: In 1999, a panel of experts at the Associated Press named Graf the 20th century’s greatest female tennis player. Later, in 2012, Tennis Channel chose her as the greatest female tennis player of all time, a distinction echoed by a Tennis.com reader poll in 2018. Further honors include seven years as International Tennis Federation World Champion; eight years as Women’s Tennis Association Player of the Year; and five years as German Sportsperson of the Year. In 2004, Graf was inducted into the International Tennis Hall of Fame, and in 2008 entered into the German Sports Hall of Fame.