William Wrigley Jr
Overview
- Source of Wealth
- Chewing gum
- Industry
- Food & Beverage
- Residence
- North Palm Beach, Florida
- Organization
- Chairman and CEO at Wrigley Management, Inc.
- Education
- Duke University (Bachelor of Arts/Science)
- Marital Status
- Divorced
- Children
- 4
Biography
William "Beau" Wrigley Jr. is an heir to the Wrigley's chewing gum fortune.
In 1999, he took over the business his great-grandfather started in 1891.
Wrigley Jr., who was CEO, expanded the company in 2005 by purchasing Altoids and Life Savers from Kraft Foods for $1.46 billion.
In 2008, he sold the Chicago-based firm to candy giant Mars Inc. for $23 billion in cash.
Wrigley became CEO of cannabis product-maker Parallel in 2018.
A 2021 SPAC deal to take Parallel public fell through and Wrigley stepped down as CEO. The company is now embroiled in lawsuits waged by investors.
About
Wrigley's great grandfather originally sold baking soda. He switched businesses after realizing that the chewing gum he gave away was much more popular.
His grandfather P.K. Wrigley owned the Chicago Cubs, but the family had to sell the baseball team in 1981 in order to pay the estate taxes after his death.