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John Menards Wealth Declines Amid Legal Challenges and Labor Scrutiny
John Menard Jr., the founder of the privately held Menards chain, saw his personal net worth fall from $22.9 billion in 2024 to $16.7 billion in 2025, according to Forbes’ Real‑Time Billionaires List. The drop also pushed him from 37th on the global rich list to 174th, and he has been surpassed as Wisconsin’s wealthiest person by Diane Hendricks, who was reported to have a net worth of $21.7 billion in 2025.
Menards grew from a single store in Eau Claire, Wisconsin, in 1964 to 341 locations across 15 Midwestern states by 2024. The chain’s market share—estimated at 4 % to 5 %—remains far below that of the industry leaders Home Depot (52 % of the U.S. market) and Lowe’s (30 %). Home Depot’s revenue rose from $112 billion in 2020 to $166 billion in 2024, while Menards’ revenue growth has been modest, and the company has slowed its expansion of new stores.
The rise of online retailers has also affected Menards. Amazon now dominates the sale of hardware and tools online, with Lowe’s as the second‑largest seller. Menards has struggled to keep pace with the shift to e‑commerce, which has eroded its share of sales.
Labor‑law violations have compounded the company’s challenges. In 2024, the Minnesota Department of Labor found that Menards had deducted wages from an employee 103 times for pumping breast milk while on the clock and had suspended her for speaking up. The agency issued a consent order that required Menards to pay back wages and damages, implement policy changes, conduct a statewide audit, and pay a $15,000 penalty.
Two multi‑state class actions have alleged that Menards required hourly workers to attend mandatory meetings and complete “In‑Home Training” off the clock, and that the company miscalculated overtime wages. The lawsuits claim violations of federal and state wage‑and‑hour laws.
Safety incidents have also drawn scrutiny. In 2017, a 27‑year‑old worker was killed when a forklift tipped over at a Minnesota store. In 2021, a 19‑year‑old trainee was crushed by a collapsing stack of lumber during a forklift operation; the family’s wrongful‑death lawsuit alleges the company left the worker unsupervised. Minnesota OSHA fined Menards $25,000 after the 2021 case.
More recently, a jury in Eau Claire County returned a $5.5 million verdict against Menards for a workplace injury caused by unsafe forklift practices at a distribution center. The verdict was described by the MacGillis Law Group, which represented the injured employee, as one of the largest known forklift‑injury verdicts against the company.
Consumer‑law violations have also impacted Menards. In December 2025, a multistate lawsuit concluded that the chain’s “11 % OFF” rebate program misled customers. The settlement required Menards to pay $4.25 million to Wisconsin and nine other states, with Wisconsin’s portion exceeding $750,000. The case was overseen by Wisconsin Attorney General Josh Kaul.
The combination of declining sales, intensified competition, and a series of legal judgments has contributed to the erosion of Menard’s wealth. While the company remains a significant regional player, its financial trajectory now reflects the cumulative effect of regulatory penalties, litigation costs, and market pressures.
At present, Menards continues to face ongoing investigations and potential future lawsuits related to labor practices and workplace safety. The company has announced plans to revise its employee handbook and to conduct a statewide audit of wage‑and‑hour compliance. Investors and analysts will likely monitor how these legal and operational adjustments influence Menards’ profitability and, by extension, John Menard’s personal net worth.
Menards grew from a single store in Eau Claire, Wisconsin, in 1964 to 341 locations across 15 Midwestern states by 2024. The chain’s market share—estimated at 4 % to 5 %—remains far below that of the industry leaders Home Depot (52 % of the U.S. market) and Lowe’s (30 %). Home Depot’s revenue rose from $112 billion in 2020 to $166 billion in 2024, while Menards’ revenue growth has been modest, and the company has slowed its expansion of new stores.
The rise of online retailers has also affected Menards. Amazon now dominates the sale of hardware and tools online, with Lowe’s as the second‑largest seller. Menards has struggled to keep pace with the shift to e‑commerce, which has eroded its share of sales.
Labor‑law violations have compounded the company’s challenges. In 2024, the Minnesota Department of Labor found that Menards had deducted wages from an employee 103 times for pumping breast milk while on the clock and had suspended her for speaking up. The agency issued a consent order that required Menards to pay back wages and damages, implement policy changes, conduct a statewide audit, and pay a $15,000 penalty.
Two multi‑state class actions have alleged that Menards required hourly workers to attend mandatory meetings and complete “In‑Home Training” off the clock, and that the company miscalculated overtime wages. The lawsuits claim violations of federal and state wage‑and‑hour laws.
Safety incidents have also drawn scrutiny. In 2017, a 27‑year‑old worker was killed when a forklift tipped over at a Minnesota store. In 2021, a 19‑year‑old trainee was crushed by a collapsing stack of lumber during a forklift operation; the family’s wrongful‑death lawsuit alleges the company left the worker unsupervised. Minnesota OSHA fined Menards $25,000 after the 2021 case.
More recently, a jury in Eau Claire County returned a $5.5 million verdict against Menards for a workplace injury caused by unsafe forklift practices at a distribution center. The verdict was described by the MacGillis Law Group, which represented the injured employee, as one of the largest known forklift‑injury verdicts against the company.
Consumer‑law violations have also impacted Menards. In December 2025, a multistate lawsuit concluded that the chain’s “11 % OFF” rebate program misled customers. The settlement required Menards to pay $4.25 million to Wisconsin and nine other states, with Wisconsin’s portion exceeding $750,000. The case was overseen by Wisconsin Attorney General Josh Kaul.
The combination of declining sales, intensified competition, and a series of legal judgments has contributed to the erosion of Menard’s wealth. While the company remains a significant regional player, its financial trajectory now reflects the cumulative effect of regulatory penalties, litigation costs, and market pressures.
At present, Menards continues to face ongoing investigations and potential future lawsuits related to labor practices and workplace safety. The company has announced plans to revise its employee handbook and to conduct a statewide audit of wage‑and‑hour compliance. Investors and analysts will likely monitor how these legal and operational adjustments influence Menards’ profitability and, by extension, John Menard’s personal net worth.
