Walmart’s e-commerce chief is retiring — and he might be shopping for a sports team.
Marc Lore joined Walmart in 2016 following the retail giant’s acquisition of his Jet.com e-commerce site. The $3.3 billion deal compensated Lore with at least $250 million in stock, which vested after five years at Walmart.
Since the acquisition, Lore helped supercharge Walmart’s e-commerce operations. Walmart shares have approximately doubled in those five years.
The 49-year-old has big retirement plans: “I’m writing a book. I’m creating a reality TV show. I’m going to probably buy a sports team. I’m going to continue to mentor female founders.”
Lore is reportedly worth more than $1 billion.
He didn’t expand on his sports aspirations to The Wall Street Journal, but he has some options:
- The NBA is eyeing two expansion franchises, with a price tag of $2.5 billion each.
- Minnesota Timberwolves owner Glen Taylor is shopping the team.
- Real Salt Lake of the MLS are also for sale.
Last summer, Lore was part of the bid for the New York Mets put together by Alex Rodriguez and Jennifer Lopez, which lost out to Steve Cohen.