Jack Welch Net Worth is$750 Million
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Profession: Writer, Businessperson, Chief Executive Officer, Author, Management
Date of Birth: Nov 19, 1935
Nicknames: jack_welch, Jack Welch
Ethnicity: White American
Country: United States of America
Jack Welch is a management expert, CEO and author with a net worth of $750 million. Jack Welch accumulated his net worth through the many positions he held with GE, his teaching at MIT Sloan School of Management and a rather substantial financial retirement plan. He was born in Peabody, Massachusetts.
John Francis "Jack" Welch, Jr. (born November 19, 1935(1935-11-19)) is an American chemical engineer, business executive, and author. He was Chairman and CEO of General Electric between 1981 and 2001. During his tenure at GE, the company's value rose 4000% and was the most valuable company in the world for a time. In 2006 Welch's net worth was estimated at $720 million.
Jack Welch was born in Peabody, Massachusetts to John, a Boston & Maine Railroad conductor, and Grace, a homemaker.
Welch attended Salem High School and later the University of Massachusetts Amherst, graduating in 1957 with a Bachelor of Science degree in chemical engineering. While at university he was a member of the Alpha chapter of the Phi Sigma Kappa fraternity.
Welch went on to receive his M.S. and Ph.D at the University of Illinois at Urbana-Champaign in 1960.
Welch joined General Electric in 1960. He worked as a junior chemical engineer in Pittsfield, Massachusetts, at a salary of $10,500 annually. While at GE, he blew off the roof of the factory, and was almost fired for doing so. Welch was displeased with the $1,000 raise he was offered after his first year, as well as the strict bureaucracy within GE. He planned to leave the company to work with International Minerals & Chemicals in Skokie, Illinois.
Reuben Gutoff, a young executive two levels higher than Welch, decided that the man was too valuable a resource for the company to lose. He took Welch and his first wife Carolyn out to dinner at the Yellow Aster in Pittsfield, and spent four hours trying to convince Welch to stay. Gutoff vowed to work to change the bureaucracy to create a small-company environment.
Welch was named a vice president of GE in 1972. He moved up the ranks to become senior vice president in 1977 and vice chairman in 1979. Welch became GE's youngest chairman and CEO in 1981, succeeding Reginald H. Jones. By 1982, Welch had disassembled much of the earlier management put together by Jones.

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Jack Welch Latest News

Why building trust with your employees is critical for success

So, why would you solicit and follow advice from these individuals? It’s a matter of trust. And who knows more about trust and leadership than Jack Welch? The former General Electric CEO and current executive chairman of the Jack Welch Management ...
Posted: October 20, 2016, 6:09 am

Former GE CEO Jack Welch’s Boston Mansion Hits Market for $20 Million

A sprawling estate in the neighborhood of Beacon Hill in downtown Boston, that was once home to former General Electric chief executive Jack Welch, has just hit the market for $20 million, according to listing agent Colliers International. The house has a ...
Posted: October 13, 2016, 12:46 pm

Jack Welch’s former Beacon Hill condo hits market for $20M

The swanky Beacon Hill condo that was formerly home to longtime General Electric Co. CEO Jack Welch has been put on the market for $20 million. The sale comes just a few weeks after GE officially became a Boston-based company — and after current CEO Jeff ...
Posted: October 12, 2016, 11:54 pm
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