Frank VanderSloot Biography & Net Worth 

American businessman Frank VanderSloot who was born on August 14, 1948, was a student of Sandpoint High School until 1966 when he graduated and proceeded to Ricks College in Rexburg, Idaho where he earned his associate degree in business before completing his B.A, in business administration at Birmingham Young University in 1972. He started his career in the business industry once he had left college, working for Automatic Data Processing in the sales and marketing department before moving to general management and operations. In 1985, he founded Melaleuca, Inc where he currently serves as the president and chief executive officer. In addition to his other businesses which include Riverbend Ranch and Riverbend Communications, Mr. VanderSloot also serves as the Director of the Chamber of Commerce of the United States of America. In 2008 and 2012, he was the national finance co-chairman during the presidential campaign of Mitt Romney. He was also the major funder of the American Heritage Charter School in Idaho Falls.

Early Life

Frank VanderSloot was the third of four children in his family. He was born in Billings, Montana, in the United States. A year after his birth, the family moved to an 80-acre farm in northern Idaho. After a failed doughnut shop business, his father started working as a laborer on the railroad during a time when the family struggled financially. Because the head of the family was away five days a week working, Frank and his siblings ran the farm in his absence. By the time he was 12 years old, Frank had inherited the responsibility of managing the farm’s daily affairs. He raised crops, cared for chickens, fed cattle, milked cows, chopped wood for the stove, and was able to earn a little money over the next few years by selling cream from a cow he had received from his father. He raised and sold calves, hired out to work on ranches in town, loaded trucks, sold beef jerky, and also worked for the railroad for a short time. He saved most of what he earned so that he could pay for his own college tuition as he understood that his parents would never be able to fund his studies.

When he was 16, Frank joined the Mormon Church, and after nearly two years, he decided to go on a missionary trip for the church for two years using the money he had been saving for his education. Upon his return, he was offered a scholarship to attend Ricks College in Rexburg, Idaho. He was later offered scholarships from Utah’s Brigham Young University, where he studied business administration.

Professional Life

Shortly before graduating from college in 1971, Frank VanderSloot got recruited by National Inventory Control Systems, which was purchased by Automatic Data Processing within three months. After seven years there, he became the company’s vice president, and two years later Cox Communications recruited him for a vice president position. Four years later, in 1985, he teamed up with a friend to start a new company. Within five months, he closed the company, drew up a new business model, started new products, and invested all his life money in a company he was convinced would work.

Mr. VanderSloot led a health and wellness firm called Melaleuca, Inc. The firm, rather than advertise, ships products on a monthly basis to thousands of households through independent contractors.

VanderSloot who has served on both the board of directors and executive committee of the United States Chamber of Commerce also created the Melaleuca Foundation, a philanthropic organization that sponsors a special orphanage in Quito, Ecuador, and provides aid to thousands of families in need each year.

Achievements

VanderSloot’s work in business has been tremendous throughout most of his career years. He has been recognized by different bodies in respect to accolades. In 1998, he received the Idaho Business Leader of the Year award from the Idaho State University. In 2001, he received the Ernst & Young Entrepreneur of the Year Award, and was elected into the Idaho Hall of Fame six years later. His most recent public honor happened in 2011 when he was awarded the Idaho Hometown Hero medal.

Under VanderSloot’s leadership, the health and wellness company, Melaleuca, was listed repeatedly on Inc. magazine’s “500 fastest-growing companies in America” list and was inducted into the magazine’s 500 Hall of Fame. The United States Chamber of Commerce recognized the company with the Blue Chip Enterprise Award, an accolade that is dedicated to companies that have overcome great adversity.

Personal Life

Frank VanderSloot and his wife Belinda reside in Idaho Falls, Idaho. They tied the knot in 1995 and have remained peacefully married since then. They have fourteen children together, six from Frank’s previous marriages, and eight from Belinda’s first marriage. He was previously married to Vivian VanderSloot, and Kathleen VanderSloot his first wife.

Frank VanderSloot Net Worth

At age 74, this entrepreneur from the United States surely can look back through his records in life and beat his chest in acknowledgment of his numerous accomplishments as a dedicated businessman and proud father of fourteen who successfully struck a balance between career for his big family and leading his business interests to the top of the charts.

Frank VanderSloot’s net worth is estimated at $2 billion dollars today. Having earned his Associate’s Degree in Business at Rick’s College, and completed his Bachelor’s Degree at Brigham Young University, he spent the next ten years of his life working for companies like Automatic Data Processing and Cox Communications before founding his own company Melaleuca, Inc., which eventually became the main building block of his fortune. The businessman also earns from his ownership of Riverbend Communications, a group of radio stations based in Eastern Idaho. He purchased the company in 2006.