Rank #1527
David Booth
Net worth $2.8B
Mutual funds · United States
- Born
- Jan 01, 1946
- Age
- 80
- Source
- Mutual funds
- Residence
- Austin, Texas
- Citizenship
- United States
- Marital status
- Married
- Children
- 0
- Education
- Bachelor of Arts/Science, University of Kansas; Master of Science, University of Kansas
Net worth over time
Biography
- When David Booth cofounded Dimensional Fund Advisors in 1981, he began a decades-long experiment in applying academic theory to real-world investing.
- His former professor Eugene Fama authored the efficient markets hypothesis, which argues that it's impossible to consistently beat the market.
- In light of Fama's research, Booth eschewed stock picking and focused on offering investors low-cost, passive mutual funds.
- Dimensional manages $777 billion in assets, most of which is steered via hand-vetted financial advisors.
- Booth joined the Giving Pledge in 2018, committing to donate at least half of his wealth to charity.
- Booth paid $4.3 million for James Naismith's original rules of basketball, written in 1891, which is now displayed at the University of Kansas.
- In 2008, Booth donated $300 million to the University of Chicago, which is still the largest gift in its history.