Richard Schulze

Chairman, Best Buy

$3.97B

$235.9M (-5.6%)

as of 04/03/25

About Richard Schulze

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 10% 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.

Personal stats

Citizenship

United States of America

Source of wealth

Best Buy

Residence

Naples, Florida

Marital status

Widowed, Remarried

Birth date

01/02/41 (age 84)

Number of children

Education

Diploma, High School

Self-made

self-made

Richard Schulze’s fortune is worth

66K

troy ounces of gold

61K

median U.S. household

40K

median U.S. income

0.079%

U.S. credit card volume

0.016%

GDP of the United States

0.012%

United States debt

Net worth history

Annual ranking

Did you know?

Schulze and his wife Maureen both lost their first spouses to mesothelioma cancer and donated $6 million to Moffitt Cancer Center in 2018.