Drayton McLane, Jr.’s profile picture

Drayton McLane, Jr.

Drayton McLane, Jr.’s profile picture
Net worth 2018: $2.24 Billion
Residence: Temple, Texas
Country: United States
BirthDay: 22 July 1936
Sigh: Leo
Children: 2
Education: Bachelor of Arts / Science, Baylor University; Master of Business Administration, Broad College of Business
BIOGRAPHY

Drayton McLane, Jr. was bornon 22 July 1936 in Temple, Texas, United States. Drayton McLane, Jr. is #1011 in List Billionaires People In The World. McLane turned his family's grocery distribution company, McLane Co., into an international firm and sold it to Walmart. McLane became president and CEO of the company and ran it for almost 30 years, averaging a yearly sales growth of 30%. In 1991, he sold McLane Co. to his friend Sam Walton for $50 million and 10.4 million shares of Walmart. In 2003, Walmart sold the company to Warren Buffett's Berkshire Hathaway for $1.45 billion. Shortly after 1991, he founded McLane Company, a holding company with a wide array of investments, including a stake in the Houston Astros.

NET WORTH STATISTIC
2009

$1.45 Billion

2010

$1.45 Billion

2011

$1.75 Billion

2012

$1.8 Billion

2013

$1.9 Billion

2014

$2 Billion

2015

$1.8 Billion

2016

$1.9 Billion

2017

$1.9 Billion

2018

$2.24 Billion

TIMELINE
2017

Up until 2017, the Astros 2005 season was the most successful season on the field for the Houston franchise

2015

On the Forbes 400 list of richest Americans, he was ranked #324 in 2015 with an estimated net worth of $2 billion

2013

Baylor University announced in December 2013 that it would name its new football stadium "McLane Stadium" after "one of the most distinguished and generous alumni families in Baylor University history

2010

McLane announced in November 21, 2010, that the Astros franchise was for sale

2009

Michigan State University Activities and Philanthropy: By the spring of 2009, the McLane family will have brought “new life” to its baseball facility through a $4 million commitment to enhance one of the most pristine environments in all of intercollegiate athletics

2008

On September 12, 2008, the MSU Board of Trustees voted unanimously to approve the naming of Drayton McLane Baseball Stadium at John H

2005

In 2005, Scott and White Memorial Hospital in Temple honored Drayton and his wife by creating the Elizabeth and Drayton McLane Jr

1993

From the time he purchased the team in 1993 to 2005, the Astros ranked fifth in the Majors and second in the National League in winning percentage (

1990

He sold the family business to tennis partner Sam Walton for cash and Wal-Mart shares in 1990

1978

He became president and CEO of McLane Company in 1978 and chairman in 1992

1970

served as President of the Texas Wholesale Grocers Association (1970–1971) and Chairman of the National American Wholesale Grocers Association (1986–1988)

1965

As President and CEO of McLane Company from 1965 to 1994, he added 16 distribution facilities across the US

1962

The Astros, originally the Colt 45's, were founded in 1962

1958

He earned his undergraduate degree at Baylor University in 1958 and his Master of Business Administration (MBA) degree in marketing at Michigan State University in 1959

1894

At age nine, the young McLane went to work for his father's business that had been established by his grandfather, Robert McLane, in 1894

1800

, to Cameron, Texas, in the late 1800s and worked as a farm laborer until about 1885, when he was able to buy and build a small retail grocery and in 1894 went into the wholesale grocery business in a small way

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