Richard Schulze
Chairman, Best Buy
REAL TIME NET WORTH — as of 4/27/17
$3.4 B
A former Minnesota Air National Guard, Richard Schulze worked as an electronics components salesman before opening a stereo equipment shop in 1966. Dubbed the Sound Of Music, Schulze reportedly took out a second mortgage on his home to fund the venture; he eventually transformed the business into a chain of superstores and renamed it Best Buy. He stepped down as chief executive in 2002. He gave up his chairmanship a decade later, when a scandal erupted around his hand-picked CEO. Shortly after, Schulze explored a buyout bid to take Best Buy private, but gave up on the idea and returned to the company as chairman emeritus. He’s now turning his attention to his family foundation, which supports health and education. Still Best Buy’s biggest individual shareholder, Schulze aims to give away $1 billion of his fortune in his lifetime.
Source:forbes