The Untold Story of Anne Mulcahy’s Net Worth: 5 Facts You Need to Know

Anne Mulcahy can be called the master of something she did not know or an accidental CEO. Having joined Xerox as a field sales representative in 1976, she never thought she would one day be the CEO.

But, after all these years, along with success, Anne Mulcahy’s net worth has also been on the rise. So, let’s know some facts about the fortune of Anne, who claims that she was never trained for the job.

Anne Mulcahy’s Net Worth Is Commendable

The businesswoman is known for her reformative work for the company that was on the brink of declaring bankruptcy. She started her journey in the sales department of Xerox and eventually climbed up the rank to become a CEO.

While working in top positions like CEO and President of Xerox, Anne might have pocketed a handsome salary. The table shows her compensation from a certain year at Xerox.

Table Source: Forbes

Likewise, Anne Mulcahy’s wealth might have heightened significantly while working at Xerox. Talking of which, as per Wallmine, her net worth is $3.27 million as of May 2022.

On the other hand, a website reports Anne Mulcahy’s wealth to be at least $9 million. Nonetheless, whatever might be the amount, she seems to have amassed millions to her name.

While we are on the topic of net worth, you might want to check the fortune of another businesswoman, Irene Rosenfeld.

Her Parents Made Her Believe That Gender Was a Non-Issue For Business

Anne Mulcahy was born Anne Marie Dolan on October 21, 1952, in Rockville Centre, New York. She was the only daughter in a family of five children.

Anne Mulcahy’s dad was a writer and editor who worked in publishing. Prior to that, he worked as an English professor.

Furthermore, Anne Mulcahy’s mom was a stay-at-home mother who was her father’s equal on all accounts. She handled the family’s money.

Growing up as the only daughter among four brothers, Anne Mulcahy’s parents raised her to believe that gender was a non-issue. She was never bounded to female-centered chores.

In fact, the businesswoman would always play ball with her siblings. Anne Mulcahy’s brother, Thomas J. Dolan, reminisced that she would not let them be excluded from anything, even playing basketball.

Even during dinner time, which was a time for debating ideas, Mulcahy was always as outspoken as others. Her parents expected her to pursue an education, set some goals, and reach them no matter what hurdles might arise.

Growing up with such beliefs, it became easy for Anne from earlier days to work hard and make difficult choices. As a result, she was able to earn fortune and fame in the future.

Began Working in the Sales Department

Growing up, Anne always wondered what a male-free environment would be like. So, she enrolled in the all-women Marymount College in Tarrytown.

But Anne hated it, and after junior year, she left to join a government program, Vista, which is the domestic equivalent of the Peace Corps. After 15 months of working there, she returned to Marymount and received a joint degree of B.A. in journalism and math.

Anne moved to Boston and applied at Xerox for a job selling copiers. When she first joined, she never thought of it as a lifetime decision. And thus, in 1976, her journey at Xerox started.

While working in the sales department, Mulcahy excelled, and sales also allowed her to give undisputable results. As a result, she was given increasingly responsible sales and senior management positions over the years.

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From First Woman on Sales Team to First Female CEO

While working in the sales department, Anne continued working hard while making a decent amount of money. She held jobs in sales, marketing, sales management, and human resources.

In May 2000, Mulcahy was made President, and eventually, in 2001, she was selected by the board of directors to be the CEO of Xerox. As a result, Anne, who joined Xerox as the first woman in sales, became the first female CEO.

The streak of her making history in the company continued when the businesswoman was named the Chairwoman on January 1, 2002. Although Anne believed she was never taught to be a  leader of an organization, her reforms speak otherwise.

#liberalartsmajor Former Xerox CEO Anne Mulcahy majored in English and journalism at Marymount College before joining Xerox as a sales representative and then rising through the ranks.

Photo credit: @Forbes pic.twitter.com/stoK1ngVKm

— The Ramsay Centre for Western Civilisation (@theramsaycentre) January 20, 2019

On May 21, 2009, Mulcahy retired as the CEO and now is living a good life.

When Anne had taken over Xerox, it was on the verge of collapse and had hit rock bottom. Even the advisory team was advising them to declare bankruptcy as they were in a true crisis.

The company was in debt and was about to begin seven straight quarters of losses while the credit markets were slammed shut. It was a big challenge to reform a company that had a debt of $17 million.

Anne and her team made a bold plan for recovery by addressing the liquidity issues of the company. Thus, they were able to raise $2.5 billion in cash.

While reigning in the top position of a company, Anne might have earned considerably. So, Anne Mulcahy‘s fortune might have been commendable.

Has Been on the Boards of Various Organizations

While Anne is known for her involvement in Xerox, she has also been associated with different other organizations. Here are some of the companies where she served on the Board of Directors.

• Catalyst
• Citigroup
• Fuji Xerox
• Target Corp.

All in all, Anne seems to have made a commendable fortune to her name. It is the result of her hard work and dedication. Wishing her coming days be full of happiness.

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