Joseph W. Luter III Biography, Age, Height, Wife, Net Worth and Family

Age, Biography and Wiki

Joseph W. Luter III was born on 17 July, 1939. Discover Joseph W. Luter III's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is He in this year and how He spends money? Also learn how He earned most of networth at the age of 84 years old?

Popular AsN/A
OccupationN/A
Age84 years old
Zodiac SignCancer
Born17 July, 1939
Birthday17 July
BirthplaceN/A
Nationality

We recommend you to check the complete list of Famous People born on 17 July. He is a member of famous with the age 84 years old group.

Joseph W. Luter III Height, Weight & Measurements

At 84 years old, Joseph W. Luter III height not available right now. We will update Joseph W. Luter III's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
HeightNot Available
WeightNot Available
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Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Family
ParentsNot Available
WifeNot Available
SiblingNot Available
ChildrenNot Available

Joseph W. Luter III Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Joseph W. Luter III worth at the age of 84 years old? Joseph W. Luter III’s income source is mostly from being a successful . He is from . We have estimated Joseph W. Luter III's net worth , money, salary, income, and assets.

Net Worth in 2023$1 Million - $5 Million
Salary in 2023Under Review
Net Worth in 2022Pending
Salary in 2022Under Review
HouseNot Available
CarsNot Available
Source of Income

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Timeline

Luter III announced in June 2006 that he would relinquish the title of chief executive officer of Smithfield Foods after serving in that position for 31 years to become non-executive chairman of the company. Larry Pope took over for Luter as the company's CEO. As chairman, Luter focused on acquisitions and broad, long-term strategy.

In 2005, Luter received a bonus of $9.86 million due to Smithfield's performance during fiscal year 2005. In fiscal year 2005, Smithfield posted a profit of $296.6 on gross sales of $11.4 billion. Luter earned a salary of $850,000 that year.

In 1999, Luter announced that Smithfield had become the largest pork producer in the world.

In 1995 Smithfield Corporation spilled more than twenty million gallons of lagoon waste into the New River in North Carolina. The spill remains the largest environmental disaster of its kind and its twice as big as Exxon Valdez spill in 1989. Smithfield violated more than seven thousand violations of the Clean Water Act and was fined for $12.6 million, being at the time, the largest civil-penalty pollution fine in US history.

In 1975, with the company in severe financial distress, Smithfield's board of directors asked that Luter III rejoin the company as chairman and CEO.

Luter's first child was a daughter named Laura. Luter's son, Joseph W. Luter IV was born on February 26, 1965. Luter IV was the family's second child. Luter's youngest child was a daughter named Leigh.

Luter III started working at Smithfield during high school and college. He loaded trucks, worked the kill floor, sliced bacon, and performed various other tasks. He returned to work at Smithfield following his college graduation. His father died unexpectedly in 1962. Luter III then moved to take control of the company. He bought out the equity of non-family shareholders and became president of Smithfield at the age of 26.

The death of Luter's father in 1962 was both sudden and unexpected. In addition to heart problems, Luter II had diabetes and smoked about three packs of cigarettes daily. Luter III resented what he called his father's "workaholic" ways and resolved to live the life of a family man.

Joseph W. Luter III (born July 17, 1939) is the former chairman of Smithfield Foods, the world's largest hog producer and pork processor.

Following in the steps of his grandfather, Joseph Luter Sr., who founded Smithfield Packing Company in 1936, and his father, Joseph Luter, Jr., who served as CEO until his death in 1962, Joseph W. Luter III became the third generation of his family to lead the company. Luter III was born in Smithfield, Virginia, to a United Methodist Christian family in 1939 and received his bachelor's degree from Wake Forest University in 1962. He majored in business administration.

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