Richard DeVos Net Worth $6.9 Billion As of March 2014 Follow (181) Age 87 Source Of Wealth Amway, Self Made Residence Holland, MI Citizenship United States Marital Status Married Children 4 Education Bachelor of Arts / Science, Calvin College Richard DeVos on Forbes Lists #196 Billionaires Amway cofounder Richard DeVos owns the NBAs Orlando Magic, which like most NBA teams have appreciated in value in recent years. He bought the team back in 1991 for just $85 million. Today its valued at $470 million. But on the court, the team has struggled since ridding itself of the talented but drama-prone Dwight Howard. Most of DeVos fortune comes from Amway, which he founded with his lifelong friend, the late Jay Van Andel (d. 2004), in high school after DeVos offered to pay him 25 cents a week for a ride to school. After a two-year stretch in the US Air Force, DeVos returned home to open a drive-in diner with Van Andel in what was the duos first business together. In 1959 the friends founded Amway (short for American Way) and began selling multipurpose cleaner to friends, family and door-to-door. DeVos stepped down in 1993 and his son, Doug, took over as president of the company. Amway, which came under the umbrella of parent corporation Alticor after a reorganization in 2000, has an army of employees that sell health, personal care and home products. Revenues reached $11.3 billion in 2012.
Posted on: Tue, 04 Mar 2014 04:50:04 +0000
Trending Topics
Recently Viewed Topics
© 2015