Month: April 2017

How Dick DeVos Gives His Fortune Away

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Dick DeVos recently outlined just how much charitable giving he and his wife, Betsy, have performed over the years. He revealed that it’s almost $139 million that they have given away over their adult life spans and which has gone to a variety of causes. The types of charities they provide money includes education, the arts, leadership building, churches, and community building. In just 2015 their foundation, the Dick and Betsy DeVos Family Foundation, gave $11.6 million away to various charities.

Included what they gave away in 2015 is $3 million that was given to educational nonprofits. They also gave another $357,000 that was specifically given to organizations that support educational reform. The educational institutions they donated to in 2015 includes $100,000 for Ferris State University, $301,000 to Potter’s House School, $200,000 to Northwood University, and $50,000 to Rehoboth Christian School among other places.

Arts and culture were another area that Dick DeVos donated a lot of money to in 2015, with a total given away of $2.4 million. Some of this money went to the DeVos Institute of Arts Management which is based at the University of Maryland. This institute builds the business leaders of tomorrow who will head art institutions across the nation. The other areas they donated money to included $1.8 million for community development groups, $1.5 million for leadership programs, $618,000 for Health & Human Services, and $488,250 was given to different churches.

Dick DeVos is the son of one of the co-founders of Amway, Richard DeVos. He first started working at Amway in 1974 and eventually worked his way up to the Vice President level where he was tasked with the company’s international sales efforts. He was very successful doing this, increasing the company’s presence in a large number of different countries and boosting foreign sales to exceeding the domestic ones, which was the first time that happened in the company’s history. He also served as Amway’s Chief Executive Officer from 1993 to 2002.

As an entrepreneur, Dick DeVos co-founded his own company along with his wife, Betsy. They co-founded The Windquest Group which is an investment company that specializes in manufacturing and technology. One of the technologies they backed was “The Green Machine” which takes the excess heat created during the manufacturing process and turns it into a useable source of energy. He has also managed the Orlando Magic basketball team which had been purchased by his family.

Dick DeVos’ marriage to Betsy has resulted in four children; Elissa, Andrea, Rick, and Ryan. He has involved his children in the Dick and Betsy DeVos Family Foundation and uses their help to determine what causes money should be given away to.



Categories: Philanthropy