Jim Davis – Billionaire

Jim Davis owns New Balance, which he bought in 1972 as a small shoemaker pumping out 30 pairs a day. Four years later he scored a big hit when the New Balance 320 was rated the best running shoe on the market. Today the $3.7 billion (est. sales) produces millions of athletic and casual shoes annually and has also expanded into clothing and equipment for lacrosse and soccer. New Balance is one of the few major firms still manufacturing some of its shoes in America — churning out more than 4 million U.S.-made pairs annually. In September 2015 the Boston-based company opened a new headquarters as part of a $500 million development, called Boston Landing, which includes a new global flagship store and practice arena for the Boston Bruins. A hotel, sports complex and practice facility for the Boston Celtics is also being constructed on the site, which is set to open up this spring. Davis’ wife, Anne, joined New Balance in 1977 and today serves as vice chairman. Davis also owns a number of commercial properties in Gloucester, Mass., including the site of the original Birds Eye frozen food factory, where Davis and a partner opened a 94-room waterfront hotel in June 2016.

Source:forbes