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

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.


$1.45 Billion


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$2.24 Billion


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


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


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


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


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


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


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


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 (


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


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


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


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


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


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


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


, 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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