John Stumpf Net Worth 2024: Age, Height, Weight, Wife, Kids, Bio-Wiki

John Stumpf is one of the most controversial American CEOs and bankers. He headed Wells Fargo, which is one of the four top banks of the USA. He was among one of the richest and highest-paid executives in American business history. However, in 2016 he was forced to submit his resignation due to the large scale banking scandal.

Maybe you know about John Stumpf very well But do you know how old and tall is he, and what is his net worth in 2024? If you do not know, We have prepared this article about details of John Stumpf’s short biography-wiki, career, professional life, personal life, today’s net worth, age, height, weight, and more facts. Well, if you’re ready, let’s start.

Early Life

Stumpf was born in 1953 in Pierz, a city in Minnesota state in the USA. He grew up on a farm, along with his ten siblings. His father was of German ancestry while his mother was a Polish descendant. His family believed in the Catholic faith. His childhood was spent in poverty to the extent that all his brothers had to live in a single room.

He was not academically brilliant and managed somehow to pass high school. He had to work as a bread-maker in a local bakery. Later he got provisional admission in St. Cloud State University and later acquired a Bachelor’s degree in Finance. Then he began working at the First Bank in Minnesota as a repossession agent. Later, he also did his MBA from Carlson School of Management.

Age, Height, and Weight

Being born on 15 September 1953, John Stumpf is 70 years old as of today’s date 20th April 2024. His height is ‎1.82 m tall, and his weight is 79 kg.

Career

Stumpf joined the Northwestern National Bank in 1982. Soon he rose to the level of senior vice president in Norwest Bank, Minneapolis. He was promoted to a number of senior management positions at the Norwest Bank in Minneapolis. In 1989 he took overall responsibility for Norwest Bank Arizona.

Two years later, he became a regional president for Norwest Banks in Colorado. In 1994 he became the regional president of Norwest Bank, Texas. He held this position till 1998, and during this time, he helped acquire 30 banks with more than $13 billion in total assets in Texas.

That very year Norwest merged with Wells Fargo, and Stumpf was made the Head of Southwestern Banking Group under Wells Fargo. In 2000 he became head of the new Western Banking Group and helped with the $23 billion acquisition of the First Security Corporation.

In 2002, Stumpf became the Group Executive Vice President of Community Banking, and in 2006 he became director of Visa Inc. In 2008, he helped Wells Fargo to acquire Wachovia. This is considered as one of the largest mergers in banking.

Awards & Achievement

Stumpf became CEO of Wells Fargo in 2007 and became chairman in 2010. Despite all these achievements, he had to resign. All his achievements were reduced to naught in 2016 when Stumpf was forced to resign as Chairman and CEO, because of a scandal involving customer accounts and subsequent pressure from the public and lawmakers. He was succeeded by Timothy J. Sloan.

Net Worth & Salary of John Stumpf in 2024

Since he became CEO and then Chairman of Wells Fargo, Stumpf has been drawing a very enviable salary and bonuses. His total compensation was about $24 million, and he had a base salary of $3 million. He also drew about $5 million in cash bonuses. Besides these, he was granted $15 million in stock options. His compensation includes 1.6 million shares of Wells Fargo stock valued at about $79 million and other payments worth over $27 million. As of April 2024, The present net worth of John Stumpf is considerably more than $55 million.

John Stumpf, despite his humble beginnings, made a meteoric rise to the top in the banking industry. Yet it is said that Stumpf, aged 70, has been CEO since 2007, and yet he allowed or encouraged the phony accounts scandal right under his nose. He benefitted from the fake and unauthorized 2 million credit card and deposit accounts that were created without the knowledge of the bank customers. He brought down the brand equity of the bank, got it penalized by $185 million, and also brought disgrace upon himself. As they rightly say – There are some things that money cannot buy!