Ronald Wanek
$2.1 B
Ronald Wanek owns America’s largest home furniture manufacturer and retailer, Ashley Furniture, which has nearly $4.6 billion in annual revenue. Wanek, who grew up on a farm, started his first furniture manufacturing business, Arcadia Furniture, in 1970 with a loan from his father and money he got from selling his home. Six years later, he bought retailer Ashley Furniture. Today, the company sells furniture in over 123 countries and employs over 25,000 people. Federal authorities accused Ashley of violating safety regulations in the wake of 1,000 employee injuries, an allegation that the company disputed; it settled in June 2016, paying a $1.75 million fine. While Wanek remains actively involved as chairman, his son Todd runs Ashley Furniture. Wanek founded Third Lake Capital, an investment vehicle for his family’s wealth, which in 2014 bought WingHouse, a restaurant chain in Florida with $60 million in sales.
Ronald Wanek Net Worth: Ronald Wanek is an American entrepreneur who has a net worth of $2 billion. Ronald Wanek made it to billionaire circles as founder and chairman of the board of Ashley Furniture Industries, Inc, which ranks as the largest furniture company in the States over the past several decades. Headquartered in Arcadia, Wisconsin, the company operates since 1945 when it was set up as a sales operation. It has since evolved into both a manufacturer and distributor of home furniture products like beds, sofas and tables. With 20, 000 employees, Ashley Furniture now generates annual revenues of $3.3 billion. Today the company is held by Ronald as chairman and his son, Todd, as CEO, who are also majority share owners. Ronald Wanek currently resides in St. Petersburg, Florida.
Source:
