Steve Scheel is the former CEO of Scheels, a sporting goods retailer company. He is also the son of Steve D Scheel, the chairman of the board for Scheels. Scheel’s time with the company saw the retailer company expand to multiple states.
But how has his life been since his departure from Scheel? Also, how he rose through the ranks in Scheel; where did he start his career? Read all of that in addition to a detailed look into his personal life and net worth among others.
Steve Scheel Net Worth; Is He A Millionaire?
Steve has an estimated net worth of $80 million. He was the CEO of one of the largest US ESOP companies for more than three decades. Scheels’ turnover in 2018 was under 23%, which to some analysts is almost unheard of in retail. Sources report the North Dakota origin company has been doing competitively well in recent years.
And although Scheel may have stepped down as the company’s CEO, his 35-year-long history with it cannot be just overlooked including the money he cashed in during those legendary years.
A Bit About Steve Scheel’s Family History
Steve M. Scheel was born in Jan 1971. He is the great-great-grandson of Scheels’ founder Frederick A Scheel. His father, Steve D Scheel served in the US Army from 1969 to 1971. Likewise, his grandfather, Frederick Benedict Scheel served in World War 2. He served as a Navy fighter pilot; he flew a Corsair in the South Pacific and the US Marine Corps from 1942 to 1946.
Frederick A Steel was a German immigrant. He used the $300 he earned from his first harvest of potatoes as the down payment on the first Scheels. Back then it started as a small hardware and general merchandise store in Sabin, Minnesota.
Over the years, Scheels expanded to Fargo. The place now is the location of the company’s corporate office.
Steve’s Career At Scheels
Steve’s tenure at Scheels began in 1989 as a part-time employee stocking shoes.
During his time with Scheels, he worked as an assistant store leader and store leader. He later moved to the corporate suite in 2006 and eventually became president and then the CEO in 2015.
Besides, he is also the recipient of the 2020 Fargo Moorhead West Fargo Chamber of Commerce’s annual Legacy Leader award. During Scheel’s tenure, the Scheels sporting goods retailer expanded beyond North Dakota into 13 different states.
Scheel announced his retirement in Aug 2023 stating that he would retire and step down from his post in Jan 2024. He remained with the company for 35 years.
Steve Scheel Originally Wanted To Become A Pilot
Steve didn’t initially want to join the family business. He instead wanted to become a pilot. However, the industry cooled down in the late 80s and Steve lost interest. He then became a part-time sales gig with the family company. He went full-time after graduation.
Who Is Steve Scheel’s Wife?
Scheel is married to Tiffany Schmitz Scheel. The couple married in October 1994 and they have been together since. It, however, is unclear how many kids Scheel and Tiffany have. Some sources allege that they may be parents to three or four children.
Although Scheel and Tiffany haven’t spilled the details regarding their relationship or how they met, the couple strongly seems to have been in love from the get-go. The two often post about the time they spent together on their respective socials. They additionally like to share the time they spend with their children.