Walter Wang, the CEO and owner of JM Eagle, a plastic pipe maker, has made his mark as one of the richest Americans, with an estimated net worth of $3.6 billion. With the recent announcement from President Biden regarding the replacement of lead pipes across the U.S., Wang’s company is poised to benefit significantly, as the new regulation is expected to boost JM Eagle’s revenue by 20% to 25%.
JM Eagle has become a prominent player in the plastics and pipe manufacturing industry in the U.S., holding roughly 10% market share, the largest percentage held by one company. Wang attributes the company’s success to its ability to offer a wide range of plastic pipe applications, including PVC and PE pipes, across 22 plants in North America. Their products are used in various settings, from national parks to industrial sites, showcasing the versatility and reliability of JM Eagle pipes.
Despite the size of the company, Wang still views JM Eagle as a family business, having bought the company from his father in 2005 and significantly growing it since then. Wang’s journey to success was not without challenges, including a battle with cancer shortly after acquiring the company. However, his perseverance and faith allowed him to overcome these obstacles and lead the company to new heights.
While JM Eagle has faced legal challenges, such as a whistleblower lawsuit, Wang remains committed to the integrity of the company and the quality of its products. He emphasizes the importance of doing the right thing and staying true to your passion as an entrepreneur. Wang’s dedication to providing clean water solutions, both domestically and internationally, reflects his commitment to making a positive impact through his business.
Looking towards the future, Wang is focused on creating a legacy for his family and ensuring a smooth transition for the next generation. By starting discussions about succession planning and involving his children in the business operations, Wang is laying the foundation for a multigenerational approach to running JM Eagle. His long-term vision and commitment to excellence continue to drive the success of the company.
