Meg Cushing Whitman is an American businesswoman with a fat net worth of $3 billion. She is a politician and a diplomat serving as the 18th U.S. Ambassador to Kenya since July 14, 2022. Whitman’s career involves top technology corporations like eBay and Hewlett-Packard.
The American business executive served eBay as CEO for ten years from 1998. She joined Hewlett-Packard Company in 2011 as its president and CEO, serving the company until 2015. She left Hewlett-Packard after its major split and joined Quibi in 2018. She served the short-form streaming platform as CEO for two years until its shutdown in 2020.
She is also a politician. Meg was a candidate for governor in the 2010 California gubernatorial elections. She worked with Mitt Romney during his 2008 and 2012 presidential election campaigns. Though a Republican, she rallied behind Democratic candidate Hillary Clinton in 2016 and now works for the Democratic President Joe Biden.
Are you ready to learn more about one of the most successful female billionaires?
Facts About Meg Whitman
|Full name||Margaret Cushing Whitman|
|Birth date, age||August 4, 1956 | 67 years|
|Birthplace||Cold Spring Harbor, Huntington, New York|
|Parents||Margaret Cushing and Hendricks Hallett Whitman, Jr.|
|Siblings||2 older siblings: Anne Whitman and Hendricks Hallett Whitman III|
|Marital status||Married to Dr. Griffith R. Harsh IV|
|Children||2: Griffith Rutherford Harsh V. and William Harsh|
|Profession:||Business executive, politician, ambassador|
|Known for||eBay, Hewlett-Packard Enterprises, Quibi, Procter & Gamble, Hasbro|
|Net worth||$3 billion|
Unraveling Meg Whitman’s Path to Wealth
Early Life and Education
Margaret Cushing Whitman was born on August 4, 1956. She was the last child of Margaret Cushing and Hendricks Hallett Whitman Junior. Meg was born and raised in Cold Spring Harbor, Huntington, New York. She grew up with two older siblings, Anne Whitman and Hendricks Hallett Whitman III.
Margaret C. Whitman attended a local high school, Cold Spring Harbor High School. She graduated top ten in her class in 1974 and enrolled at Princeton University to study math and science. Though she wanted to be a doctor, she changed her career path and studied economics. The decision was informed by the summer she spent selling Business Today magazine’s ads.
Margaret Whitman graduated from Princeton University in 1977. Her 83-page thesis, The Marketing of American Consumer Products in Western Europe, earned her an honors degree in economics. In 1979, she earned her MBA from Harvard Business School.
Margaret “Meg” Whitman began her career in 1979 in Cincinnati, Ohio, as a brand manager at Procter & Gamble. Whitman joined Bain & Company as a consultant but rose through the ranks to become the company’s senior vice president. Between 1989 and 1991, Whitman was at Walt Disney before moving to Stride Rite Corporation.
In 1995, Meg joined Florists’ Transworld Delivery as president and CEO. Beginning in January 1997, Meg Whitman worked for Hasbro. She was the Playskool Division manager, overseeing two major brands of the company: Playskool and Mr. Potato Head.
Time at eBay
E-commerce company eBay approached Meg to run the company in 1998. She hesitated but later agreed to be the company’s president and CEO. Her first assignment at eBay was to lead the company through its first IPO.
When Meg joined eBay, the company had only about 30 employees and $4.7 million in sales revenues. Meg Whitman redesigned eBay’s web pages and separated age-restricted from general products. Under her leadership, eBay flourished when many internet companies struggled. Before leaving in 2008, Margaret had grown eBay to 15,000 employees and at least $8 billion in annual sales revenues.
Impact on Hewlett-Packard & Quibi
Meg Whitman joined Hewlett-Packard’s board in January 2011. In September of the same year, she was appointed the president and CEO of the tech company. Meg began by focusing on the company’s Department of Research & Development. Her major decision was to recontinue HP’s PC business, which her predecessor had considered scratching off.
After Hewlett-Packard split into Hewlett-Packard Enterprises and HP Inc., Whitman remained HPE CEO. She stepped down from the position early in 2018.
She took another CEO job at Jeffrey Katzenberg’s streaming company, Quibi. The media startup generated mobile videos for viewing on mobile devices. Quibi launched its app in April 2020 but ceased operation in October of the same year.
Meg Whitman’s Net Worth Breakdown
Earnings from Corporate Positions and Board Memberships
Meg Whitman has worked in several corporations in senior positions. She has been the president and CEO of the massive internet auction company eBay and the tech conglomerate Hewlett-Packard. She led the failed short-form streaming platform Quibi and served many corporations as a board member.
Meg Whitman has been a board member at Dreamworks, Hasbro, Zipcar, Survey Monkey, and Procter & Gamble. She also served on the board of The Goldman Sachs Group, a multinational investment bank. She resigned from Goldman Sachs after 14 months.
Though many reliable sources estimate her net worth to be $3 billion, it could be more than that. By estimations, Margaret Cushing Whitman earns an annual income of $10 million. However, this figure is only an estimate. The billionaire business executive serves many companies and holds investments in different forms.
Real Estate and Other Investments
Meg Whitman’s investment portfolio ranges from retail to gaming and more. In 2018, she invested in Immortals Gaming Club, an eSports organization. The investment also bought Whitman a way into the board of directors. Her sports investments include a minority stake she bought in FC Cincinnati. She will be the club’s alternate governor on the Major Leagues Soccer board of governors.
While she is not a collector of fancy homes, Meg Whitman has several residential properties under her name. One of her most notable homes is in Atherton, California. There is not much information about the size or amenities inside this home. But it is in an opulent environment with easy access to downtown San Francisco business hubs.
Though its value is unknown, it does appear expensive. It came to limelight in 2010 when over 1,000 people flooded her street in protests.
Meg owns a condominium she purchased in 2018 for $6.5 million. The condo at the Sierra Towers, West Hollywood, belonged to Elliot Grainge. Grainage is a British record label executive and the founder of 10K Projects.
The two-bedroom condo has 2,300 square feet of living space and exquisite floor-to-ceiling glass windows. It has a pool and a fitness center, not forgetting the 20-hour concierge. Meg listed the property in 2020 at the price of $6.5 million.
Whitman’s Business And Political Failures
Margaret Whitman is the perfect definition of “life is not always perfect.” While she has enjoyed a successful career in business, she also bears some scars from failed ventures. Her career trajectory is not all stars and medals. She even tried a political career and failed.
In the 2010 California gubernatorial elections, Whitman was the Republican candidate, challenging Jerry Brown for the seat. Despite waging a self-funded massive campaign, she lost the election to Democrat Jerry Brown. Her campaign was surrounded by controversies, including her not casting a vote for the last 28 years before 2010.
Her former housekeeper also put the politician under scrutiny. She claimed the business executive knew about her illegal immigrant status but kept quiet about it. She fired Nicandra Diaz Santillan when she decided to run for office. Under these circumstances, her massive campaign did not mean anything. Her image was already tarnished beyond fixing.
Another failure in Meg Whitman’s career is the failed short-form streaming platform, Quibi. Initially, Quibi showed good results. The app was downloaded over 300,000 times on its launch day, ranking number 3 in the app store. It was downloaded 1.7 million times during its first week on app store. A few weeks later, the downloads plummeted, falling down to number 125.
Take a Look at Why Did Quibi Fail?:
Meg Whitman and Jeff Katzenberg, former workmates at Walt Disney, agreed the short-form media streaming platform was a failure. They shut it down in October 2020.
Meg Whitman’s Philanthropy
In 2006, Meg Whitman co-founded the Griffith R. Harsh IV and Margaret C. Whitman Charitable Foundation with her husband. During its first year in operations, the foundation donated up to $125,000 to different charity causes. The majority of these funds went to the Environmental Defense Fund. The foundation has invested around $4 million in offshore hedge funds.
What is Meg Whitman Known For?
Meg Whitman is a businesswoman and politician known for many successes. Among her most notable achievements is running the internet auction company eBay from 1998 to 2008. Whitman transformed the company from $4.7 million in annual revenues to $8 billion.
Who Was the CEO of HP Before Meg Whitman?
Leo Apotheker, a German business executive, was the preceding CEO before Meg Whitman. Apotheker served the company for a few months, from November 2010 to September 2011.
When Did Meg Whitman Leave HP?
After Hewlett-Packard’s split, Meg went with Hewlett-Packard Enterprises. She served HPE as CEO until February 1, 2018. The company’s president Antonio Neri took over as the chief executive officer.
Where is the Family Office of Meg Whitman?
Many family offices do not have set physical addresses, and the Meg Whitman Family Office is no different. After working for years to amass a u003ca href=u0022https://www.valuewalk.com/klaus-schwab-net-worth/u0022u003enet worthu003c/au003e of $3 billion, Meg Whitman hired a team of experts from different fields to manage her impressive wealth. The team handles her accounts, investments, and philanthropic donations.
What is Meg Whitman Doing Now?
Among other things, Meg Whitman is currently serving as U.S. ambassador to Kenya. President u003ca href=u0022https://www.valuewalk.com/joe-biden-net-worth/u0022 data-type=u0022postu0022 data-id=u00222463044u0022u003eJoe Bidenu003c/au003e appointed her to the position, and the U.S. Senate approved her unanimously on July 14, 2022.
Closing Thoughts on Meg Whitman’s Financial Journey
Meg Whitman is a legend in the world of business. Though she has a few failures under her belt, she took most of the corporations she worked for from harshes to glory. These corps include eBay and Hewlett-Packard.
She is also a politician and diplomat. She supported Joe Biden in the 2020 presidential campaign. In return, the president appointed her United States ambassador to Kenya.
From her long and historic business career, Meg Whitman has created a large net worth of $3 billion.