Jump to content

David G. Booth

From Wikipedia, the free encyclopedia

David G. Booth
Born1945 or 1946 (age 78–79)
Lawrence, Kansas,United States
Alma materUniversity of Kansas(BA, MS)
University of Chicago(MBA)
Occupation(s)Co-founder and executive chairman,Dimensional Fund Advisors

David Gilbert Booth(bornc.1946) is an American businessman, investor, and philanthropist. He is the executive chairman ofDimensional Fund Advisors,which he co-founded withRex Sinquefield.

Career

[edit]

Booth graduated fromLawrence High SchoolinLawrence, Kansas,and then received a B.A. in economics in 1968 and an M.S. in business in 1969 from theUniversity of Kansas,also located in Lawrence.[1] He then enrolled at theUniversity of ChicagoGraduate School of Businessin 1969 as a doctoral student, leaving in 1971 with an M.B.A. degree. He was a research assistant toEugene Fama,and he met his future business partner,Rex Sinquefield,at the school.[2]

The University of Chicago basically plucked me out of Kansas and put me on this trajectory...Sometimes I wonder, why me? But it happened.

— David Booth[2]

He has published research articles including "Diversification Returns and Asset Contributions" withEugene Fama.[3]The article won the 1992 Graham and Dodd Award of Excellence from theFinancial Analysts Journal.[4]

David Booth has served on institutional boards, including as a governor of the Kravis Leadership Institute and the UCLA Foundation; as a trustee of theAmerican Academy in Romeand the Paintings Conservation Council of theJ. Paul Getty Trust;as a trustee of the University of Chicago;[4]as a member of the board of directors ofGeorgetown University;[5]and as a trustee of the University of Kansas Endowment Association.[6]

According toForbes,he had a net worth of $2 billion in August 2021.[7]

Philanthropy

[edit]

David Booth and his ex-wife,Suzanne Deal Booth,focused their philanthropy efforts on educational institutions andart restorationprojects. In 1998 Suzanne Booth created the Friends of Heritage Preservation, which acts as a rapid response team for art preservation initiatives, whose area of focus ranges from entire historical sites to single works of art.[8]

In 1999, the Booths gave $10 million for construction of the Charles M. Harper Center building on the University of Chicago campus.[9]

The Booths gave $9 million to theUniversity of Kansasin 2004 to fund the Booth Family Hall of Athletics attached toAllen Fieldhouse.[8]

The Booth family pledged $300 million in November 2008 to theUniversity of Chicago's Graduate School of Business,where he earned an MBA in 1971.[10]He is a trustee of the university, and the Graduate School of Business is now named The University of Chicago Booth School of Business.[10][11]The gift of cash and stock is being spread over a period of years, and is dedicated to furthering the school's publications, international presence, research centers, and faculty professional development.[10]

In 2010, the Booths acquired Dr.James Naismith's original 1891 copy of the13 basic rulesof basketball at auction for $3.8 million (laying out a total of $4,338,500 for the rules, auction house fees, andbuyer's premium) with the intention of donating them to his alma mater theUniversity of Kansas.The University of Kansas is known as the "Cradle of Basketball" because Naismith and his protégéDr. Forrest C. "Phog" Allen,the "Father of Basketball Coaching", coached at KU and helped it mature into the sport as it is known today.[12]The purchase price set a world record for sports memorabilia.[13][14]The purchase of this historical artifact was documented in the 2012ESPN30 for 30filmThere's No Place Like Home.[15]

The Booth Center for Special Collections atGeorgetown'sLauinger Library,which contains a number of archival documents related to Georgetown as well as an extensive collection of rare books, manuscripts, and art, was funded by a $3 million donation from the Booths.[16][17]

In September 2017, Booth announced a donation of over $50 million to renovate theUniversity of Kansas football team's stadium.The school renamed the stadium in his honor for the donation.[18][19]

In 2019, Booth pledged a $10 million gift toThe University of Texas at Austinto support construction of theGiant Magellan Telescope.[20]

References

[edit]
  1. ^Hyland, Andy (November 8, 2008)."KU alumnus gives $300M to Chicago business school".Lawrence Journal-World.World Corporation.RetrievedNovember 8,2008.
  2. ^abGuth, Robert (November 6, 2008)."Chicago Business School Gets Huge Gift".The Wall Street Journal.Dow Jones, Inc.RetrievedNovember 6,2008.
  3. ^Booth, David G.; Fama, Eugene F. (1992)."Diversification Returns and Asset Contributions".Financial Analysts Journal.48(3): 26–32.doi:10.2469/faj.v48.n3.26.RetrievedFebruary 24,2021.
  4. ^ab"Commission Members: David G. Booth".California Commission for Jobs and Economic Growth.2008. Archived fromthe originalon October 26, 2008.RetrievedNovember 7,2008.
  5. ^"Gifts Fund $5 Million Renovation of Special Collections Research Center".Georgetown.edu. April 28, 2014.RetrievedMarch 10,2021.
  6. ^"David G. Booth, Chief Executive Officer".Dimensional Fund Advisors. Archived fromthe originalon March 14, 2014.RetrievedNovember 7,2008.
  7. ^Forbes: The World's billionaires: David Booth31 January 2021
  8. ^abThe 50 Top American Givers.Bloomberg Businessweek,accessed December 22, 2010.
  9. ^"David Booth, MBA'71".Archived fromthe originalon August 11, 2020.RetrievedFebruary 24,2021.
  10. ^abc"Alumnus David Booth gives $300 million; University of Chicago Booth School of Business".University of Chicago News.November 8, 2008.RetrievedJanuary 24,2017.
  11. ^"Board of Trustees elects GSB alumnus David Booth".RetrievedFebruary 24,2021.
  12. ^"The Cradle of Basketball".cradleofbasketball.
  13. ^"Records Fall at Sotheby's Auctions".Wall Street Journal. December 11, 2010.RetrievedJanuary 27,2013.
  14. ^"James Naismith's rules sold at auction".ESPN.December 10, 2010.RetrievedFebruary 2,2012.
  15. ^"ESPN 30 for 30: There's No Place Like Home".ESPN. October 15, 2012.RetrievedJanuary 27,2013.
  16. ^"Gifts Fund $5 Million Renovation Of Special Collection Research Center".georgetown.edu.Georgetown University. April 28, 2014.RetrievedMarch 26,2015.
  17. ^Miller, Ashley (January 23, 2015)."Library's Rare Books Excite".Newspaper.Vol. 96, no. 28. The Hoya.RetrievedMarch 26,2015.
  18. ^Hancock, Peter (December 20, 2017)."KU football stadium to be renamed after donor David Booth".KU Sports.
  19. ^Newell, Jesse (December 20, 2017)."KU gets approval to rename football stadium to include major donor's name".Kansas City Star.RetrievedMarch 9,2021.
  20. ^Haurwitz, Ralph (May 22, 2019)."$10 million to help UT study universe".Austin American-Statesman.RetrievedJuly 7,2022.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=David_G._Booth&oldid=1235070566"