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.