Clayton Lee Mathile was an American billionaire businessman who built the Iams pet food company into a global leader before selling it to Procter & Gamble for $2.3 billion in 1999. He spent the following decades giving back through major philanthropy, founding Aileron to help entrepreneurs, and supporting education and nutrition initiatives. Mathile died in August 2023 at age 82.
Quick Facts About Clay Mathile
| Category | Details |
|---|---|
| Full Name | Clayton Lee Mathile |
| Date of Birth | January 11, 1941 |
| Date of Death | August 26, 2023 (Age 82) |
| Birthplace | Portage, Ohio, United States |
| Nationality | American |
| Profession | Businessman, Entrepreneur, Philanthropist |
| Net Worth | $2.3 Billion (at time of death) |
| Known For | Owner and CEO of The Iams Company |
| Spouse | MaryAnn Maas Mathile (m. 1962) |
| Children | 5 |
| Residence | Brookville, Ohio |
Early Life and Education
Clay Mathile was born on January 11, 1941, in Portage, Ohio, a small farming community south of Bowling Green. His parents, Wilbert “Bill” Ray Mathile and Helen Good Mathile, owned a 40-acre farm where Clay learned the value of hard work from an early age. His father was a farmer, while his mother worked as a teacher. Helen Mathile believed education was the greatest social and economic equalizer—a philosophy that would shape Clay’s future charitable work.
Mathile showed academic promise early. He graduated from Portage High School at just 16 years old as valedictorian of his class of 14 students. He also played basketball and earned honorable mention for the all-state team. He attended Ohio Northern University in Ada, Ohio, where he played on the basketball team. Mathile initially studied mechanical engineering but switched to business studies. When an expected scholarship fell through, he took a job pumping gas to pay his way. He graduated in February 1962 with a business degree.
Career Path: From Accountant to Pet Food Pioneer
After college, Mathile started his career as an accountant at a General Motors manufacturing plant in Toledo, Ohio. He then joined Campbell Soup Company, where he spent seven years in various roles including cost accounting, inventory control, and purchasing. In 1970, despite having a stable corporate job and a young family to support, Mathile took a chance. He accepted a leadership role at The Iams Food Company, a small regional pet food manufacturer in Dayton, Ohio.
The company founder, Paul Iams, had created a premium dog food with much higher protein content than competitors’ cereal-based products. Mathile believed in the product and the business potential. To raise awareness, Mathile spent weekends at dog shows, handing out samples that his five children helped him package in their basement.
Building the Iams Empire
In 1975, ingredient shortages nearly destroyed the company. Mathile purchased 50% ownership from Paul Iams for $100,000. He convinced Iams they needed to build their own manufacturing facility to control quality and supply. Mathile became sole owner and CEO in 1982 when Paul Iams retired. At that time, the company had just $13 million in annual sales.
Under Mathile’s leadership, Iams grew through several key strategies:
- Product quality focus: He funded a research and development center to ensure dogs and cats received optimal nutrition from Iams and Eukanuba brands.
- Customer service: He offered a 100% money-back guarantee and created a support department that answered questions about pets—even topics unrelated to pet food, like coping with pet loss.
- Supply chain strength: He paid vendors within 30 days, ensuring Iams had access to the best ingredients even during shortages.
- National distribution: He built a network of 50 family-owned distributors who supplied thousands of retailers, breeders, and veterinarians.
- Employee culture: Mathile knew employees’ names, their spouses, children, and even their pets. He created Iams University to help staff reach educational goals.
The company doubled in size every four years. By 1999, Iams held a 5.7% share of the U.S. pet food market and sold 100 products in 75 countries.
The $2.3 Billion Sale to Procter & Gamble
In 1999, after a lengthy search for the right buyer, Mathile sold The Iams Company to Procter & Gamble for $2.3 billion. At the time, it was P&G’s largest cash-only deal in the company’s history. The sale came when Iams had grown to approximately $800 million in annual sales—a remarkable increase from the $500,000 in sales when Mathile first joined in 1970.
What Mathile did next demonstrated his values. From the proceeds, he distributed $100 million in bonuses to every Iams employee, regardless of their tenure with the company. This act of generosity set the tone for his post-business life.
Clay Mathile Net Worth and Financial Legacy
At the time of his death in 2023, Clay Mathile’s net worth was estimated at $2.3 billion. This wealth came primarily from the Procter & Gamble sale. In 2012, Forbes ranked Mathile as the second-richest person in Ohio, behind only Leslie Wexner, founder of The Limited retail chain. He ranked 250th on the U.S. wealth list that year. By 2023, Forbes listed him as the 1,312th richest person globally. Despite his wealth, Mathile lived in Brookville, Ohio, and maintained the modest values he learned growing up on a farm.
After selling Iams, Mathile and his family started other businesses under the umbrella of Myrian Capital in Dayton, Ohio, founded and chaired by their youngest son, Mike Mathile. He also invested in technology ventures, including video chat company ooVoo.
Philanthropy: More Than $500 Million in Giving
Clay and MaryAnn Mathile viewed serving others as the greatest reward of their business success. They donated more than $500 million through various initiatives.
Mathile Family Foundation (founded 1987): The foundation focuses on education, children, and families in the Dayton region. By 2014, it had awarded more than $300 million in grants—a number that passed $500 million in later years. The foundation continues as a multi-generational effort with the couple’s five children and 15 grandchildren involved.
Aileron (founded 2008): Mathile spent $130 million to create Aileron, a nonprofit organization that offers management training for small business owners. The 114-acre campus in Tipp City, Ohio, teaches the DOC System of Professional Management—the framework Mathile used to grow Iams. More than 2,500 business owners have completed the flagship Course for Presidents program.
The Mathile Institute for the Advancement of Human Nutrition (founded 1989): Inspired by Nobel Laureate Norman Borlaug, Clay and MaryAnn co-founded this organization to combat childhood malnutrition. The Institute developed Chispuditos, a nutrient-dense food distributed throughout Central America with a goal to end malnutrition in children ages 6 months to 6 years by 2030.
The Glen at St. Joseph: MaryAnn’s longtime dream, this campus provides housing and support for 36 single mothers and their children, offering educational opportunities and a state-of-the-art early learning center.
Mathile Community Awards: Over 10 years, the Mathiles awarded more than $60 million to Dayton-area projects including the Benjamin & Marian Schuster Performing Arts Center, downtown development, the YMCA, the Cassano Health Center, and Wright Dunbar Inc.
Ohio Northern University: The Mathiles became Life Members of the Lehr Society, ONU’s top giving society. The Mathile Center, a 95,145-square-foot student facility, opened in 2006. They also established the Mathile Scholars program, providing renewable merit scholarships.
Personal Life and Family
Clay Mathile married MaryAnn Maas on July 7, 1962. The couple dated since high school. Mathile often said he “got it right the first time and never looked back.” Together, they raised five children: Cate (married to Don Laden), Tim (married to Lynn), Mike (married to Michelle), Tina, and Jennifer (married to Pat Prikkel). The family grew to include 15 grandchildren and great-grandchildren.
Mathile was a devout Catholic. His faith guided his business decisions and philanthropic work. He served on multiple nonprofit boards focused on education, medical innovation, and social justice. Despite his wealth, Mathile remained grounded. He prioritized family above all else and maintained strong connections to his community. Three of his grandchildren attended the University of Dayton, and his daughter-in-law Michelle serves on UD’s board of trustees.
Mathile documented his business journey in two books: “Dream No Little Dreams” (his autobiography) and “Run Your Business, Don’t Let It Run You” (a practical guide for growing a business).
Final Years and Passing
In May 2023, just months before his death, the University of Dayton awarded Mathile an honorary doctorate in business administration at its commencement ceremony. It was one of his final public honors. Clay Mathile died peacefully at his home near Dayton on August 26, 2023, surrounded by family. He was 82 years old.
Ohio Governor Mike DeWine called Mathile “the go-to leader of the business community in Dayton” and praised him as “a visionary and mentor to so many young businessmen and women.” In his honor, multiple bridges in Dayton were lit in rhodamine red. Community leaders credited Mathile with decades of work that strengthened Dayton’s economy and helped the region reach its potential.
