Best Buy founder Richard Schulze sold: $86.88m-Oct 6-9
Richard M. “Dick” Schulze, the founder of The Richard M. Schulze Family Foundation, is also founder and chairman emeritus of Best Buy Co., Inc., the world’s largest multi-channel, consumer-electronic retailer. Schulze served as Best Buy’s Chief Executive Officer from 1983 to 2002 and then as Chairman until 2012. He rejoined the company in 2013 as Founder and Chairman Emeritus. Today, Best Buy employs more than 145,000 people and operates more than 1,400 stores in the U.S. and 479 stores in Canada, China and Mexico.
In 2000, Schulze and his late wife, Sandy, donated $50 million to St. Thomas – then the largest donation ever to a Minnesota college or university – founding the Schulze School of Entrepreneurship in Schulze Hall, part of the university’s downtown Minneapolis campus. Founded in 2005, the Schulze School has worked to become a leader in entrepreneurship education and outreach. Students learn to turn innovative ideas into sustainable businesses and hundreds of businesses have benefitted from its expertise, consulting and start-up support. Schulze served on the University of St. Thomas’ board of trustees for 20 years, 1995-2015, before retiring from the board; he remains chairman of the university’s Opus College of Business Board of Governors.
Schulze has long supported nonprofit organizations in the Twin Cities and Minnesota. He and Sandy established the Richard M. and Sandra J. Schulze Family Fund in the mid-1990s as their main vehicle for donations to Twin Cities’ social service charities related to health care, education and family. Sandy died in 2001 from mesothelioma, a rare cancer caused by asbestos exposure. A desire to identify and fund “transformative changes benefitting mankind” led Schulze to start The Richard M. Schulze Family Foundation in 2004. In June 2013, Schulze announced plans to gradually expand the Foundation from $100 million to about $1 billion. Schulze chairs the Foundation’s board of trustees.
https://www.schulzefamilyfoundation.org/
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