Colgate-Palmolive Co. is a well-known multinational consumer goods company headquartered in New York City, founded in 1806. The company is primarily known for its oral hygiene and personal care products, such as toothpaste, soap, and deodorant.
Over the years, Colgate-Palmolive has been led by several prominent individuals who have contributed to its success. Let’s take a closer look at some of the founders and CEOs of Colgate-Palmolive and their wealth.
William Colgate was the founder of Colgate & Company, which later became Colgate-Palmolive. He was born in Kent, England, in 1783, and immigrated to the United States in 1798. In 1806, he established a starch, soap, and candle business, which later became Colgate & Company.
William Colgate died in 1857, leaving behind an estate valued at approximately $10 million, which was a significant sum at that time.
B.J. Johnson joined Colgate & Company in 1864 as a bookkeeper, and he eventually became the company’s president in 1890. Johnson is credited with creating the formula for the first toothpaste in a collapsible tube, which was introduced by Colgate in 1896.
Johnson passed away in 1912, and his estate was valued at $1 million.
Alfred P. Sloan Jr. was the CEO of General Motors from 1923 to 1946, but he was also a member of the board of directors at Colgate-Palmolive. During his time at Colgate-Palmolive, Sloan was instrumental in expanding the company’s product line and increasing its market share.
Sloan’s net worth at the time of his death in 1966 was estimated to be around $100 million.
Reuben Mark was the CEO of Colgate-Palmolive from 1984 to 2007. During his tenure, he helped to expand the company’s presence in emerging markets and increase its product offerings.
Mark’s net worth is estimated to be around $500 million.
Ian Cook succeeded Reuben Mark as the CEO of Colgate-Palmolive in 2007 and held the position until his retirement in 2019. Under Cook’s leadership, Colgate-Palmolive continued to expand its product offerings and increase its market share.
Cook’s net worth is estimated to be around $150 million.
In conclusion, the founders and CEOs of Colgate-Palmolive have played a significant role in the company’s success over the years. Although their net worth varied, their contributions to the growth of the company cannot be overlooked.
