Richard DeVos Net Worth
Richard DeVos Net Worth: Richard DeVos was an American business with a net worth of $6 billion at the time of his passing in 2018. Richard DeVos was born in Grand Rapids, Michigan in 1926. He earned his college degree at Calvin College in his hometown. After college, DeVos joined the military and served during World War II. When his service ended, DeVos returned home, where he started several businesses with childhood friend Jay Van Andel. Jay and Richard started a hamburger, sailing business, and even charter flights. In 1949, they signed on as distributors for a nutritional supplement company called Nutrilite. In 1959, Devos and Van Andel founded their own multi-level marketing firm, Amway (American Way Association). Their first product was an organic house cleaner. They purchased the rights to the product and distributed it through their sales channels. Over the next 50 years, Amway expanded to unfathomable heights. By 2017, it still generated $8.6 billion in annual revenue for the privately held Amway. It is one of the 30 largest private companies in the world.
In 1991, DeVos bought the Orlando Magic’s NBA franchise for $85 million. He had previously tried to bring MLB’s expansion team to Orlando. He also owned several non-NHL hockey teams during his lifetime. DeVos is very politically active and is one of the biggest donors to the Republican Party. He has contributed to a variety of Republican-related causes and organizations, including Focus on the Family and the American Enterprise Institute. He serves as finance chairman for the Republican National Committee. DeVos is the author of several books, including Compassionate Capitalism, Hope in My Heart: Ten Lessons from Life, and Believe! “. He has participated on several committees, including the National Constitution Center and the Christian Leadership Institute. He has been a member of the Northwood University Board of Trustees and the National Policy Council. In 2012, he was considered the 60th richest person in the United States and outside the 200 richest people in the world. DeVos and his wife Helen were married in 1927 until his death in 2017. They have four children together. Richard DeVos passed away on September 6, 2018 at the age of 92. Their son Richard Jr. is married to U.S. Secretary of Education Betsy DeVos.
