LeaderPortfolio
Baker
Margaret Baker
Rank #1153
UNITED STATESHealthcareMedical supplies

Margaret Baker

Net Worth
$3.658B
+0.37% (24h)
Margaret "Peggy" Baker, a 60-year-old US citizen, is a shareholder of the medical supplies giant Medline. Her family, including four other billionaires, founded the company in 1966. This medical supplies company went public in December 2025, and the extended family owns approximately 17% of the company. The family previously sold a majority stake in the company to private equity firms. Baker's wealth is derived from her involvement in the medical supplies industry. The most recent data available shows her net worth is estimated to be $3.9 billion.

How to read Margaret Baker's profile

Public net-worth figures are estimates. They combine observable inputs—typically listed equity, disclosed transactions, and market prices—with editorial judgment where filings are incomplete (for example, private holdings, debt, or cross-holdings). For Margaret Baker, we anchor the narrative to Medical supplies and Medical supplies, then update the headline number as markets move. The chart on this page is meant to show trajectory, not a certified balance sheet.

When you see $3.658B alongside global rank #1153, interpret it as our best synthesis of widely cited ownership and price signals—not a claim about cash on hand. Estimates can diverge from other publishers because of different treatment of options, trusts, charitable vehicles, or illiquid assets. We document the general approach in methodology and welcome corrections via corrections.

Country (UNITED STATES) and career milestones on this page are curated for reader context; they should be verified against primary sources when used for research. Editorial metadata for this profile is refreshed on a rolling basis, with deeper audits at least annually (last noted cycle: 2026).

Looking for depth? When available, the dossier and timeline sections below add long-form context beyond the headline number—prioritize those modules when evaluating claims about strategy, controversies, or philanthropic commitments.

The Full Dossier

Early Life and Family

Margaret "Peggy" Baker, born in 1966, is a shareholder of Medline, an Illinois-based medical supplies company. Medline was founded in 1966 by her father, Jim Mills, and her uncle, Jon Mills. The family has a long history in the medical supply business.

Rise to Success

The Mills family, including Margaret Baker and four other billionaires, owns a significant portion of Medline. In December 2025, Medline had an initial public offering (IPO). It ended its first trading day with a market cap exceeding $55 billion. In 2021, the Mills family sold 79% of Medline to a group of private equity firms. This sale valued the company at over $30 billion.

Key Business Strategies

Medline's success stems from its consistent presence in the medical supplies sector. It has adjusted to market changes with an IPO in 2025. The company's strategies include adapting to the growth in healthcare and catering to the demands of a larger and aging patient population.

Philanthropy

While specific details on Margaret Baker's individual philanthropic contributions are not readily available, her family is involved in various charitable initiatives. The Margaret Baker Foundation, though not directly tied to her, is a private foundation located in Northfield, IL, that supports community and education initiatives, with a total giving of $133K in 2023.

Career Timeline

2025

Medline IPO

Medline went public on the Nasdaq in December 2025.

2021

Sale to Private Equity

The Mills family sold a majority stake in Medline to a group of private equity firms.

1966

Medline Founded

Medline was founded by her father and uncle.

Philanthropic Impact

Philanthropy & Grantmaking$0.133M (2023)

Margaret Baker Foundation

Supports community and education initiatives.

Key Business Ventures & Holdings

CompanyStakeValue
Medline17.00%$9.35M

Net Worth History

In-Depth Analysis

Early Life and Family

Margaret "Peggy" Baker, born in 1966, is a shareholder of Medline, an Illinois-based medical supplies company. Medline was founded in 1966 by her father, Jim Mills, and her uncle, Jon Mills. The family has a long history in the medical supply business.

Rise to Success

The Mills family, including Margaret Baker and four other billionaires, owns a significant portion of Medline. In December 2025, Medline had an initial public offering (IPO). It ended its first trading day with a market cap exceeding $55 billion. In 2021, the Mills family sold 79% of Medline to a group of private equity firms. This sale valued the company at over $30 billion.

Key Business Strategies

Medline's success stems from its consistent presence in the medical supplies sector. It has adjusted to market changes with an IPO in 2025. The company's strategies include adapting to the growth in healthcare and catering to the demands of a larger and aging patient population.

Philanthropy

While specific details on Margaret Baker's individual philanthropic contributions are not readily available, her family is involved in various charitable initiatives. The Margaret Baker Foundation, though not directly tied to her, is a private foundation located in Northfield, IL, that supports community and education initiatives, with a total giving of $133K in 2023.

Data Sources & Methodology

Figures for Margaret Baker are synthesized from the sources below and cross-checked against our net worth methodology. Estimates may lag market moves; see corrections to report discrepancies.