Kenneth Chenault Net Worth

What is Kenneth Chenault's Net Worth & Salary?

Kenneth Chenault is an American business executive with a net worth of $200 million. He is best known for being the CEO of American Express, a position he held from 2001 to 2018. He was the third African American to be chief executive officer of a Fortune 500 company. After retiring from American Express, Chenault became a managing director for General Catalyst Partners. He is a member of the board of directors at Airbnb and Berkshire Hathaway and was previously on the board of Facebook.

Salary

During his tenure as CEO of American Express, Chenault earned approximately $370 million in total compensation. For instance, in 2007, his total compensation was $50,126,585, and in 2008, it was $42,752,461. In 2009, he earned $16,617,639, which included a base salary of $1,201,923, a cash bonus of $10,450,000, an option grant of $3,985,637, and other compensation worth $980,079. The Chenaults also own luxury real estate in Bal Harbour, Florida, purchasing two units in 2013 and 2017 for $6.9 million and $6.3 million, respectively.

Real Estate

In 1991, the Chenaults bought a home in New Rochelle, New York, for $937,500 and sold it in September 2017 for $1.9 million. In New York City, they own a triplex penthouse in the Amory S. Carhart mansion, where single-unit penthouses have sold for $20-30 million. In March 2001, they paid $7.45 million for a 7,500-square-foot mansion in Sag Harbor, New York, set on 4.6 acres.

Early Life

Kenneth Irvine Chenault was born on June 2, 1951, in Mineola, New York. His father, Hortenius Chenault, was a dentist, and his mother was a dental assistant. He attended the Waldorf School of Garden City and Bowdoin College, where he received a Bachelor of Arts degree in history. Kenneth Chenault then earned a Doctor of Law degree from Harvard Law School.

Career

From 1977 to 1979, Chenault worked as an associate at Rogers & Wells, and from 1979 to 1981, he was employed as a consultant at Bain & Company. In 1981, he joined American Express in its Strategic Planning Group, eventually becoming the president and COO in 1997 and CEO in 2001.

In October 2017, he announced his retirement from American Express. The following year, he took on roles of chairman and managing director at General Catalyst Partners.

Kenneth Chenault / Justin Sullivan/Getty Images

Boards

Kenneth Chenault has served on various boards, including the executive committee of the Business Roundtable and the Business Council. In 2014, he was elected to the Harvard Corporation. In 2017, he joined the boards of Airbnb, Facebook, and Berkshire Hathaway. In 2019, he was appointed to the NCAA's Board of Governors.

Literature

Chenault is the author of "Life is Not a Straight Line: The Upside of Every Downturn in Business and Life," which discusses his experiences, values, and principles in the business world.

Accolades & Honors

In 1995, Ebony magazine listed him as one of fifty "Living Pioneers" in the African American community. He was inducted into the Junior Achievement US Business Hall of Fame in 2002 and has presented commencement speeches at Howard University, Wake Forest University, and Northeastern University. In 2021, he appeared on Time magazine's list of the 100 Most Influential People.

Philanthropy

Kenneth and his wife are founding donors of the Art for Justice Fund. They've supported institutions like Morehouse College, Howard University, and Bowdoin College with significant donations. They are also annual donors of one-million dollars to the Lincoln Center.