Jim Davis & family
Overview
- Source of Wealth
- New Balance
- Industry
- Manufacturing
- Residence
- Newton, Massachusetts
- Organization
- Chairman at New Balance
- Education
- Middlebury College (Bachelor of Arts/Science)
- Marital Status
- Married
- Children
- 2
Biography
Jim Davis bought a small Boston shoemaker in 1972 and turned it into $6.5 billion (sales) New Balance Athletics.
Davis is the chairman of New Balance, and his wife Anna, who joined the company in 1977, is the vice chairman.
He and his family own an estimated 95% of the company, which is private.
New Balance is known for its running shoes but also makes footwear, clothing and equipment for baseball, lacrosse, and soccer as well as lifestyle fashion.
He got his start working for his father's restaurants as a "lumper" carrying trays.
At college he studied biology and chemistry, thinking he'd work in medicine, until one of his professors suggested his talent might be in sales.
About
In 2015 New Balance moved into a $500 million development in Boston that also houses practice arenas for the Boston Bruins and the Celtics.
Davis was an early investor in fleet electrification company XL Fleet and owns 9% of the company, which went public via a SPAC merger in late 2020.