Richard Schulze
Overview
- Source of Wealth
- Best Buy
- Industry
- Fashion & Retail
- Residence
- Naples, Florida
- Organization
- Chairman at Best Buy
- Education
- High School (Diploma)
- Marital Status
- Widowed, Remarried
- Children
- 10
Assets
- Best Buy Co. Inc.15,088,000 shares @ --BBY-US
Biography
Richard Schulze worked as an electronics components manufacturer representative before opening his stereo equipment shop, Sound of Music, in 1966.
He grew it into the chain of superstores he renamed Best Buy.
He is chairman emeritus of Best Buy and its largest individual shareholder with a 7% stake.
Schulze served as the company's CEO from 1983 to 2002 and stepped down as chairman in 2012, when a scandal erupted around his hand-picked CEO.
Schulze aims to give away $1 billion of his fortune in his lifetime, through his family foundation.
About
In 2019, Best Buy named Corie Barry as CEO. She became the first woman to lead the company in its 53-year history.
Schulze and his wife Maureen both lost their first spouses to mesothelioma cancer and donated $6 million to Moffitt Cancer Center in 2018.