Betsy DeVos Net Worth: A Closer Look at Her Wealth
| Category | Details |
|---|---|
| Net Worth | $2 billion |
| Salary | N/A |
| Birthdate | January 8, 1958 |
| Birthplace | Holland, Michigan, USA |
| Gender | Female |
| Height | N/A |
| Profession | Politician and Philanthropist |
| Nationality | American |
What is Betsy DeVos’s Net Worth?
Betsy DeVos, an American politician and philanthropist, has an estimated net worth of $2 billion. Known for her controversial tenure as the US Secretary of Education, DeVos comes from a wealthy background and has accumulated significant wealth through various sources.
Highlights
– Betsy DeVos’s net worth is $2 billion.
– She served as the US Secretary of Education from 2017 to 2021.
– DeVos hails from a wealthy family, with her father and husband playing key roles in successful businesses.
– She faced criticism for her advocacy of school choice, school voucher programs, and charter schools.
Early Life
Betsy DeVos, born as Elisabeth Prince on January 8, 1958, in Holland, Michigan, is the eldest child of Edgar Prince, the founder of the automotive parts company Prince Corporation. She grew up in a wealthy environment and was educated at Holland Christian High School. DeVos later attended Calvin College, where she graduated in 1979 with a BA in Business Economics. During her college years, she actively participated in politics, volunteering for Gerald Ford’s presidential campaign.
Career
DeVos’s career in politics began when she joined the Michigan Republican Party in 1982. Over the years, she held various positions within the party, including chair of the Michigan Republican Party from 1996 to 2000 and again from 2003 to 2005. DeVos’s nomination as the US Secretary of Education by President Donald Trump in 2016 attracted significant criticism due to her stance on education policies, particularly her support of school choice and charter schools.
Personal Life
Betsy DeVos married Dick DeVos, an heir to the Amway fortune, in 1979. Dick DeVos ran Amway’s parent company Alticor from 1993 to 2002 and was the Republican nominee for governor of Michigan in 2006. The couple has four grown children: Rick, Elissa, Andrea, and Ryan.
Net Worth Over Time
Betsy DeVos’s net worth has evolved over the years, influenced by her family’s business ventures and personal investments. Her wealth primarily comes from two sources – her father’s successful automotive parts business and her husband’s involvement with Amway.
Components of Net Worth
1. Her father Edgar Prince founded the Prince Corporation, which grew into a multi-billion-dollar business. The family earned royalties from a patented sun visor with a built-in mirror, eventually selling the business for $1.3 billion in 1996.
2. Her husband Dick DeVos is an heir to the Amway fortune, a multi-billion-dollar empire. The couple has benefited from their investments and involvement in various businesses, including the Windquest Group, a privately held operating group they co-founded in 1989.
3. Betsy and Dick DeVos are also engaged in philanthropy through the Dick and Betsy DeVos Family Foundation. Their charitable contributions have supported hospitals, arts organizations, Christian schools, evangelical missions, and conservative think tanks, among other causes.
While Betsy DeVos’s net worth reflects her family’s business success and personal investments, her controversial tenure as the US Secretary of Education has polarized opinions about her influence on education policies in the United States.