As American consumers have called the economic “blackout”, Walmart told Newsweek on Monday that “serving communities is at the heart of Walmart’s purpose.”
The nationwide Walmart boycott from April 7–14 is organized by an independent group called People’s Union USA, which claims that growing wealth disparity and a “rigged” system for all Americans, regardless of their political inclinations, are the driving forces behind it.
Also Read: Walmart to face nationwide boycott after massive $25bn loss; When it is and what you should know about economic blackout
A quick look at Doug McMillon’s Walmart career
McMillion, 58, started working for Walmart as a summer worker in 1984 and rose through the ranks to become the fifth CEO of the company in 2014.
According to GuruFocus, an investment website that displays stock financials and valuation statistics together with the buying histories of wealthy investors and business executives, McMillon’s estimated net worth as of April 7 was at least $419 million. He is said to own roughly 5,032,140 shares of Walmart Inc. (WMT) stock, assuming he hasn’t made any financial transactions since March 27, 2025.
According to Securities and Exchange Commission (SEC) records and CEO Today magazine, McMillon earns over $25 million annually, including wages, bonuses, and stock options.
According to real estate website Zillow, McMillon has an 8,200-square-foot house in Bentonville, Arkansas, that is valued at about $5.36 million.
Doug McMillon weighs in on Trump tariffs as Walmart suffers loss of $22 billion
Like Jeff Bezos and Mark Zuckerberg, McMillion met personally with President Donald Trump at Mar-a-Lago in Florida ahead of his inauguration.
“We’re positioned to manage it, but what I worry about is customers experiencing higher prices, and we’re going do everything we can to try and keep them low,” McMillion said in response to a Yahoo! Finance question regarding increasing tariffs in January.
Days before the Trump administration announced even more extensive duties on all nations, Walmart reportedly shaved $22 billion off its market value on March 26.
According to Fortune, Walmart’s market capitalization fell to nearly $680 billion by the end of March 26 following a roughly 3% decline in its share price.
Walmart boycott,Doug McMillon,People
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