David William Grainger is an American businessman who has a net worth of $1.1 billion. Mr. Grainger entered the billionaire circles thanks to W.W. Grainger, an industrial supply company set up by his father William W. Grainger in Chicago in 1927. Apart from being the biggest individual shareholder, David has been actively involved in the company’s operations since 1952, after which shortly he started to serve as Director.
He remained in that capacity until 2007. After he stepped down, a former sales manager blamed the company for over billing the US government in supply contracts. The company managed to settle the case with the government out of court for $6 million, without admitting any wrongdoing in the process. In February 2013 W.W. Grainger was rumored to be a on the list of possible buy-up targets for Warren Buffet’s cash-filled Berkshire Hathaway. Also, the company’s stock remained recession-proof during the financial crisis and the value of W.W. Grainger stock has almost tripled in the past five years.
|Net Worth:||$1.1 Billion|