Kenneth Chenault is a major American leader. He excellently served as the CEO of American Express from 2001 to 2018. As the third African American to lead a Fortune 500 company, he made noteworthy contributions during his tenure.
After his retirement, Chenault became a managing executive at General Catalyst Partners. He currently sits on the boards of Airbnb and Berkshire Hathaway and previously held a board role at Facebook.
Retired American Express chairman and CEO “Kenneth Chenault” praised “Vice President Kamala Harris” at the Democratic National Convention as “pro-business and pro-worker.” He was the only business leader on Tuesday’s lineup.
In this article:
Essential Facts
- Chenault praised Harris for supporting partnerships between government and firms. He compared her idea to her opponent’s by pointing out she disagreed with a universal tax that might raise prices, hurt customers and firms, and cause job cuts. This role directly contests Trump’s plan for a 10% tariff on all imports from every country.
- The speaker underlined the difference in tax policies between Donald Trump and Harris, highlighting that Harris believes funding money for middle-class growth is vital rather than providing tariff cuts to rich people like himself.
- Chenault directed American Express for seventeen years and was one of only 19 Black CEOs at a Fortune 500 corporation. Ken is now in charge of General Catalyst, a venture capital company. He also chairs Bilt Rewards, a fintech firm for house and flat renters.
- Ken also serves on the boards of other firms, such as Berkshire Hathaway, Airbnb, and the Harvard Corporation. Additionally, Chenault is involved with different nonprofits, such as Bloomberg Philanthropies and the Smithsonian Institution’s Advisory Council for the National Museum of American History and Culture.
- Chenault served on Barack Obama’s Council on Jobs and Competitiveness. In October, he attended a White House meeting with President Joe Biden and other industry leaders to discuss client behavior.
- Kenneth and retired Merck CEO Frazier partnered to battle new voting rules in Georgia that could restrict minority voting access. They convinced many major firms to support their cause.
- Chenault charged attempts to deny the 2020 election result, thinking them “mind-boggling” at the Forbes Future of Work Summit in 2022. He expressed worries about the dangers to democracy.
Essential Quote
“She is for all Americans,” Chenault spoke about Harris. Afterwards, Kenneth said in her praise, “She understands it’s possible, in fact necessary, for a president to be both pro-business and pro-worker.”
Tangent
In 2020, Chenault quit Facebook’s board due to conflicts over control and political guidelines. He was discouraged by the firm’s lack of involvement in the election. His resignation followed Facebook’s determination not to fact-check political ads. Chenault said he was joining Berkshire Hathaway’s board and hoped CEO Mark Zuckerberg well. Zuckerberg thanked him publicly for his assistance.
Key Background
Chenault will speak before Michelle Obama and Barack Obama, who will deliver the keynote speech to finish the second night of the tradition. The event began on Monday in Chicago and will finish on Thursday with Vice President Kamala Harris getting her party’s nomination.
Kenneth Chenault’s Net Worth and Salary
Kenneth Chenault is a well-known American business executive with a net worth of almost $200 million. During his term as CEO of American Express, he obtained notable compensation totalling about $370 million before tariffs and other expenses.
For example, in 2007, he made over $50 million, followed by $42 million in 2008 and approximately $16 million in 2009 from different income sources such as salary, rewards, grants, and other compensations.
| Name | Kenneth Chenault |
| Net Worth (2024) | $200 Million |
| Profession | American journalist |
| Monthly Income | $2 Million + |
| Yearly Income | $24 Million + |
| Last Updated | 2024 |
Real Estate
- In 1991, the Chenaults purchased a home in New Rochelle for $937,500 and sold it in 2017 for $1.9 million.
- He also owns a triplex penthouse in NYC’s Amory S. Carhart mansion, where units sell for millions.
- Ken has a beautiful villa in Sag Harbor on 4.6 acres. He bought it in 2001 for about $7.45 million.
- Additionally, Chenault holds 2 units in Bal Harbour, Florida, purchased for $6.9 million and $6.3 million, respectively.
