James Cargill II Biography & Net Worth
|Popular Name:||James Cargill II|
|Real Name:||James Ray Cargill II|
Birchwood, Wisconsin, United States
|Net Worth:||$3 Billion|
Mr. James Cargill II is a successful businessman and investor from the United States of America. Today, Forbes magazine ranks him as one of the 400 wealthiest people in America with a net worth of more than 3 billion dollars. Born James Ray Cargill II in Birchwood, Wisconsin, he comes from a family of prominent and wealthy businessmen who has in various ways contributed to the United States business industry and stock markets. He is the great-grandson of Cargill founder William Cargill. His brother is Austin S. Cargill II, a successful businessman and a rancher. He is also the brother of businesswoman Marianne Cargill Liebman. Most of his estimated net worth came from Cargill, a privately-held multinational company founded by William W. Cargill in 1865 and is based in Minnetonka, Minnesota. Currently, Cargill is the largest privately held company in the United States in terms of revenue. Its $134 billion in revenue in the fiscal year of 2012 came from areas of food production such as crops, cattle, risk management, and commodity trading. Together with five other billionaire relatives who rather maintain low-key lifestyles, Mr. Cargill still owns a majority of the agro-giant corporation whose major businesses include trading, purchasing, and distribution of grain and other agricultural commodities such as palm oil. The company is also involved in the trading of energy, steel, and transport. Furthermore, it is involved in the manufacturing of livestock and feed while also producing food ingredients such as glucose syrup and starch, vegetable oils and fats for industrial use, and processed foods.
Early Life: Childhood, Education
The American businessman, heir, and philanthropist, James Ray Cargill II, was born in the year 1949 in Birchwood, Wisconsin, United States. He is the great-grandson of William Wallace Cargill, the mastermind that founded the world-famous multinational corporation called Cargill. He has a brother and a sister, Austen S. Cargill II and Marianne Cargill Liebmann.
Professional Life: Business Career
Mr. James Cargill doesn’t concern himself with the family’s company. The company, Cargill Incorporated, is a privately held global food corporation founded in 1865, established in Minnetonka, Minnesota, and incorporated in Wilmington, Delaware. It is considered the largest privately held company in the United States in terms of revenue. If it were a public company, Cargill would rank number 15 on the Fortune 500 (as of 2015), ahead of AT&T and behind McKesson. The company has frequently been the subject of criticism related to finance, human rights, the environment, and other ethical considerations. Some of its major businesses are the production of food ingredients such as glucose syrup and starch, vegetable oils and fats for industrial use and application in processed foods, raising of livestock and production of feed, trading in energy, steel and transport, and procuring, trading and distributing grain and other agricultural supplies, such as palm oil. The company also has a large financial services division, which helps it to manage financial risks in the commodity market.
In 2003, Cargill split off a percentage of its financial operations into the hedge fund Black River Asset Management, which holds around $10 billion of assets and liabilities. It owned 33.3 percent of the shares of The Mosaic Company, a business that is known to be one of the leading producers and marketers of potash crop nutrients and concentrated phosphate in the world. Cargill sold off its Mosaic holding in 2011. In 2018, Cargill reported earnings of $3.103 billion and revenues of $114.695 billion and boasted of employing more than 166,000 people in 66 countries. The Cargill Company, which is responsible for 25 percent of all US grain exports, also supplies about 22 percent of the United States domestic meat market. It is known to be the biggest importer of products from Argentina and is the largest poultry producer in Thailand. It has been reported that all the eggs used in McDonald’s restaurants in the United States pass through Cargill’s plants. It is the United States’ only producer of Alberger process salt, which is used in the prepared food and fast-food industries.
To date, Cargill still remains a family-owned business. The majority of the company (over 90 percent) is still owned by the descendants of the founding Cargill and MacMillan families.
James Ray Cargill II sits on the Board of the Center of the American West at the University of Colorado. He is also on the Board of Trustees of the National Air and Space Museum of the Smithsonian Institution.
His charity donations to the Minneapolis Institute of Art in Minneapolis, Minnesota, the Spot youth center in Denver, Colorado, and the Walker Art Center have all been well received. Through the James R. Cargill II Trust, the businessman has owned stock in SolarAttic, a firm that uses solar energy to heat swimming pools.
Personal Life: Wife, Children
James lives in Birchwood, Wisconsin, with his wife and their two children.
James Cargill II Net Worth: Salary, Income Sources, Assets
Mr. James Cargill II has a net worth of 3 billion dollars, all earned from his lucrative professional endeavors that became successful.
As one of seven remaining heirs to the Cargill Empire, this businessman is entitled to part of the 90 percent share of the Cargill fortune that his family currently controls. His financial situation at this time makes her one of the wealthiest people living in Birchwood, and also puts him on the map as one of the wealthiest men on the planet.