Jean Couto net worth
Jean Couture Net Worth: Jean Coutu is a Canadian pharmacist and entrepreneur with a net worth of $2.5 billion. Born in Montreal, Canada on May 29, 1927, Coutu rose to the ranks of billionaires with his pharmacy chain, the Jean Coutu Group. He started his first pharmacy in 1969 and has since grown into a large pharmaceutical group that now has a network of more than 400 licensed pharmacies across Canada.
Additionally, in 2007, Coutu sold its Eckerd and Brooks brands to U.S. drugstore chain Rite Aid for $3.4 billion, giving Coutu a 20 percent stake in Rite Aid, making Coutu a major shareholder. In 2012, the Group’s revenue increased by nearly 5% compared with the previous year, with a profit of US$2.8 billion. Today, Coutu is chairman and his son Francois is the group’s president and chief executive. In addition, the 86-year-old pharmacist supports the Quebec Association of Pharmacists and the Marcelle et Jean Coutu Foundation, a charitable foundation dedicated to eradicating poverty. The charity works to fight poverty and promote the well-being of people of very low economic status. One of his greatest innovations and one-of-a-kind inventions was the creation of a fully functional online service that gave thousands of his customers the opportunity to schedule medication quantities and prescription updates from the comfort of their own mobile phones. The system established in Quebec.
