Doug McMillon Retirement: Inside Walmart CEO's Net Worth, Educator-Wife, Arrested In Drug Case Hoax

Doug McMillon made a groundbreaking announcement on November 14, 2025, that sent Walmart shares down 1.2 per cent, in part due to concern about his decision. The company's current CEO and President confirmed that he will retire on January 31, 2026. McMillon became Walmart's CEO in 2014 and is often credited with transforming Walmart from a traditional retail box into a technology-driven powerhouse. McMillon has been working at Walmart since 1984, and his retirement next year will make him one of the longest-serving CEOs in the company's history.

Walmart CEO and President, Doug McMillon announces retirement and names John Furner as his successor and the company's next CEO

For the uninitiated, McMillon took Walmart's revenue from USD 485.7 billion to USD 681 billion. Chuck Grom, a renowned analyst with Gordon Haskett, reacted to Doug McMillon's retirement announcement, stating that McMillon is unequivocally the best Walmart CEO since the company's founder, Sam Walton. Chuck also added that McMillon's retirement is a bit earlier than anticipated. However, on the other side, as per McMillon, this is the best time to hand over the company to its worthy successor, John Furner, who is Walmart's Chief CEO of the U.S. division.

Yes! You read it right. Along with his decision to retire next year, Doug McMillon also named John Furner as his successor, who has been working at Walmart since 1993. However, even after his retirement in January 2026, McMillon will remain on the company's board until at least June 2026. He will also serve as an advisor to John Furner through fiscal year 2007, ensuring a structured hand-off. McMillon's journey from joining Walmart as an hourly associate in 1984 to serving as a leader across the company's three divisions and succeeding Mike Duke as CEO in February 2014 is hands-down one of the most inspiring business stories ever.

A look into Walmart CEO, Doug McMillon's net worth

Soon after he announced his retirement, Walmart CEO, Doug McMillon started trending on the internet. As a result, people are just curious to know how much fortune he has managed to build after spending four decades at Walmart. According to data from Quiver Quantitative, McMillon's estimated net worth is around the mammoth figure of USD 541.1 million. Apart from his net worth, people are also interested in his personal life.

Who is Doug McMillon's wife, Shelly McMillon? From a university couple to life partners and work in philanthropy

For the uninitiated, McMillon is married to Shelly McMillon, a renowned educator, philanthropist, and passionate advocate for children's welfare. Talking about Doug McMillon and Shelly McMillon's love story, they met for the first time during their university days. While Doug was studying at University of Arkansas, Shelly was a student at Missouri State University. Thanks to their shared values and drive to work for non-profit causes, they grew closer and soon started dating. Doug and Shelly married in 1998, and after their marriage, they donated USD 1 million to the University of Arkansas through Walmart to build an innovation studio.

Meet Walmart CEO, Doug McMillon's sons, Blake and Spencer, who are building Urbn Share

Doug McMillon and Shelly McMillon are blessed with two brilliant sons, Blake McMillon and Spencer McMillon, who are doing well in their respective careers. Talking about their children's professions, they're working together on their hospitality project, Urbn Share, with Spencer as the founder and CEO and Blake as the COO (Chief Operating Officer). The duo's company serves as an alternative to traditional hotels for business travellers.

When false news about Walmart CEO, Doug McMillon's arrest for money laundering and drug trafficking shocked the world

Doug McMillon is one of the most respected figures in the business world, and he has been involved in hardly any controversies throughout his career. However, in October 2025, some social media posts claimed that Walmart's CEO had been arrested under the charges of drug trafficking and money laundering. The false information spread on the internet like wildfire, as unverified posts also speculated that McMillon used Walmart for unethical activities and even that the FBI was involved in the case. However, an investigation by the Credible outlet Primetimer busted all the false claims and labelled it nothing but a classic internet hoax. Soon, the buzz settled down, and the incident served as a reminder that we live in the era of misinformation.

What are your thoughts on all these lesser-known anecdotes about Walmart CEO and President, Doug McMillon's personal and professional lives? Let us know.

Also Read: Meet Michael Burry, 'The Big Short' US Investor: Inside His AI Crash Warning And Strained Marriage

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