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How Louis DeJoy Achieved a Net Worth of $110 Million

Louis DeJoy

Who is Louis DeJoy? You might know him as the Postmaster General, but he has been a businessman for decades prior to his current position. In fact, he's been so successful at business that he has a net worth of approximately 110 million dollars. That's a lot of money, even for the most successful businessman. It's so much that you might be wondering how he ever made that much money in the first place. If that's the case, you've come to exactly the right place to find out more information.

Background Information

Louis DeJoy was born in 1956 in Brooklyn. By the time that he went to college in Florida, he had settled on a career in business. However, he wasn't just involved with any side of business. Instead, he made the decision to get involved with logistics. In short, he specializes in getting things that companies need to them in the shortest possible amount of time, often for the least possible amount of money. In return, these companies pay him a hefty sum for working out all of the details that are involved in these types of things. As such, he's worked with major companies such as Boeing and has even worked for the federal government. That is precisely how he ended up becoming the Postmaster General, having previously worked on logistics issues with the United States Postal Service for more than a decade prior to his current appointment. This is also where he’s made a great deal of his net worth.

His Current Position

Although there isn't a lot of information to be found regarding exactly how much Louis DeJoy is being paid for his role as Postmaster General, it has been suggested that the pay is quite significant. The reason that this has come under fire in recent months is because the United States Postal Service made large cuts throughout the COVID-19 pandemic, leaving many people out of a job and others with significantly reduced hours. However, it doesn't appear that DeJoy had any of his salary reduced throughout that entire time, leading many people to speculate about the operation of the postal service and his role in all of this. Make no mistake about it, he had already made a significant amount of his net worth before he even took this position. However, his acceptance of the position continues to add to his net worth. As a result, people are starting to wonder why an agency that is struggling financially is making drastic cuts to everyday employees while the Postmaster General is apparently living a very comfortable life without experiencing any cutbacks whatsoever.

Success in Business

By all accounts, the overwhelming majority of his 110 million dollar net worth was made because of his successful business career prior to becoming Postmaster General, as previously mentioned. Being a logistics expert, DeJoy was able to provide solutions to some of the biggest companies in the world when other people didn't have the answers they were looking for. As you can imagine, that information often comes at a premium price and it's no exception in DeJoy’s case. As a result of a long career in both logistics and business, he has amassed a significant amount of money. However, it hasn't all been smooth sailing for him. DeJoy has always been involved in politics and donated over one million dollars to the Trump campaign. Around that same time, the FBI started investigating whether or not some of those campaign contributions were even legal. That is an investigation that is still continuing. DeJoy says that he had no knowledge of any wrongdoing and that the entire transaction was handled by someone else. It remains to be seen how this will ultimately pan out. For now, it doesn't seem that the allegations or the investigation are affecting his role as Postmaster General or in any other area of business that he chooses to pursue.

A New Horizon

Despite the current problems with the United States Postal Service, DeJoy claims that he's trying to make everything better. This is something that causes a lot of people to pause, especially considering what has most recently happened with regard to the pandemic and the sweeping loss of jobs there. Nevertheless, he claims that he has a decade-long plan that will eventually result in more jobs that pay better, as well as increasing the pay of individuals who are currently employed there. Many people speculate that this is the reason he’s being well paid there. That said, he doesn't really seem to be making a great deal of progress with this plan, at least not as of yet. The hope is that positive changes within the United States Postal Service will start to be made, changes that are designed to save the institution from completely dissolving. In addition to the financial issues suffered by the Postal Service, it is combating the fact that people don't communicate the same way that they used to. As a result, traditional mail isn't being sent as frequently, especially in a world that has truly become global with the ability to attend meetings halfway across the world without the need for physically traveling to an area or sending physical pieces of mail. As a result of his plan, he is adding to his net worth each year with his salary as Postmaster General.

What will ultimately happen with DeJoy as Postmaster General? Will his role in this position continue to contribute to his net worth? Will he continue to work in other areas of business or logistics, the area is where he made his millions to begin with? At the moment, it's virtually impossible to answer these questions. The first thing that needs to happen is for the investigation that he is currently involved in to be concluded so that everyone involved can move forward. However, there is no doubt that he is continuing to add to his net worth on a daily basis. He will obviously keep doing that for the foreseeable future. As a result, it's hard to say with any level of accuracy what his net worth could ultimately become, especially now that he has a position where he's making even more money in addition to the business endeavors he was already pursuing.

Allen Lee

Written by Allen Lee

Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language.

Read more posts by Allen Lee

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