John Stumpf Net Worth is$50 Million
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Date of Birth: 1953
Nicknames: John Stumpf
John Stumpf is an American executive with a net worth of $50 million. John Stumpf acquired that net worth the Chairman, President and CEO of Wells Fargo & Company. He is also a member of the National Republican Congressional Committee. Stumpf is from Pierz, Minnesota and earned an MBA from University of Minnesota.
John Stumpf (born 1953) became Chairman for Wells Fargo & Company in January 2010. He was named Chief Executive Officer in June 2007, elected to Wells Fargo's Board of Directors in June 2006, and has been President since August 2005.
A Pierz, Minnesota native, Stumpf grew up as one of 11 children on a dairy and poultry farm. His father was a dairy farmer. Stumpf shared a bedroom with his brothers until he was married. Stumpf graduated in the bottom half of his high school class. His bad grades, combined with his limited family finances, resulted in Stumpf obtaining a job as a breadmaker in a Pierz bakery. After a year, Stumpf enrolled in St. Cloud State University on a provisional basis. He eventually obtained a job as a reposession agent at First Bank in St. Paul, Minnesota.
Stumpf earned his bachelor's degree in finance from St. Cloud State University, St. Cloud, Minnesota and his MBA with an emphasis in finance from the University of Minnesota.
Stumpf joined Northwestern National Bank, the former Norwest Corporation and predecessor of Wells Fargo, in 1982 in the loan administration department and then became senior vice president and chief credit officer for Norwest Bank, N.A., Minneapolis. He held a number of management positions at Norwest Bank Minneapolis and Norwest Bank Minnesota before assuming responsibility for Norwest Bank Arizona in 1989. He was named regional president for Norwest Banks in Colorado/Arizona in 1991. From 1994 to 1998, he was regional president for Norwest Bank Texas. During his four years in that position, he led Norwest's acquisition of 30 Texas banks with total assets of more than $13 billion.
In 1998, with the merger of Norwest Corporation and Wells Fargo & Company, he became head of the Southwestern Banking Group (Arizona, New Mexico and Texas). Two years later he became head of the new Western Banking Group (Arizona, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming). In 2000, he led the i

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John Stumpf Latest News

5 Times Elizabeth Warren Made Complex Economic Issues Brilliantly Simple

While Warren's commentary on trickle-down economics and the Republican tax plan may not be welcomed by the right, she was widely celebrated on both sides of the aisle for her handling of a hearing with Wells Fargo CEO John Stumpf. In the wake of news that ...
Posted: November 29, 2017, 4:01 pm

Trump says penalties for Wells Fargo mortgage-lending scandal could be 'substantially increased'

The fake accounts scandal led to a $185 million fine from regulators — including the CFPB — congressional hearings, and the retirement of then-CEO John Stumpf.
Posted: December 8, 2017, 6:32 pm

Wells Fargo updates: A parade of lawmakers rip into CEO John Stumpf

Wells Fargo Chairman and Chief Executive John Stumpf returned to Capitol Hill today to testify before the House Financial Services Committee, where angry lawmakers excoriated him over the bank's admission that employees created some 2 million fake accounts ...
Posted: September 29, 2016, 6:43 am
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