- David G. Booth
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David G. Booth Born Kansas, United States Alma mater Kansas University (B.A., M.S.)
University of Chicago (M.B.A.)Occupation Co-founder and CEO, Dimensional Fund Advisors David G. Booth is co-founder and co-CEO of Dimensional Fund Advisors (along with Eduardo Repetto.) In 2008, he donated $300 million to the University of Chicago Graduate School of Business, which is the largest donation ever given to a business school.[1] It has been renamed the University of Chicago Booth School of Business. He earned his MBA degree from the school in 1971.[2] Booth grew up in Lawrence, Kansas.[3]
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Career
He graduated from Lawrence High School in Lawrence, Kansas and then received a B.A. in economics in 1968 and an M.S. in business in 1969 from the University of Kansas, also located in Lawrence.[4] He then enrolled at the University of Chicago GSB in 1969 as a doctoral student, leaving in 1971 with an M.B.A. degree. He was a research assistant to Eugene Fama, and met his future business partner, Rex Sinquefield at the school.[5]
After pioneering index fund investing at Wells Fargo Bank, he joined with Sinquefield in 1981 to form Dimensional Fund Advisors. The fund focuses on investment strategies in "small" (low capitalization) stocks, as well as "value" (low price/book ratio) and non-U.S. stocks. The firm, which is privately held, manages about $206.5 billion.
“ 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[5]
He has published several academic articles including "Diversification Returns and Asset Management" with Eugene Fama. The article won the 1992 Graham and Dodd Award of Excellence from the Financial Analysts Journal.[6]
David Booth has served on many institutional boards, including as a Governor of the Kravis Leadership Institute and the UCLA Foundation; as a Trustee of the American Academy in Rome and the Paintings Conservation Council of the J. Paul Getty Trust; as a Trustee of the University of Chicago;[6] as a member of the Board of Directors of Georgetown University;[7] and as a Trustee of the University of Kansas Endowment Association.[8]
Philanthropy
David G. Booth has been recognized for making one of the largest endowments to an American university in history, giving back to his Alma mater the University of Chicago's Graduate School of Business $300-million in November 2008.[9][10]
The payment towards the university is being spread over a period of years, and will be partly in cash and in the form of a considerable share of stock in the finance firm's parent company, Dimensional Holdings. The fund's general purpose is to further the school publications and research centers, as well as the faculty's professional development that includes securing the employment of the best professors in the academe.[9][10]
Also, there is opportunity to use part of the amount to expand the university's reputation as a regional player through its international campuses in London and Singapore. Booth had graduated from the university in 1971 with a Masters in Business Administration. He is also a trustee of the University's business school, which is now named The University of Chicago Booth School of Business in his honor.[9][10]
In 1997 Booth, along with his wife, also gave $10 million to support the construction of a campus building.
David and his wife Suzanne Deal Booth were named by BusinessWeek as number 34 of 2008's 50 Top American Givers. The list recognizes annually the 50 most generous U.S. Philanthropists. They are cited as having donated $309 million between the years 2004–2008.[11][12]
In 2004 the Booth family gave $9 million to the University of Kansas to fund the Booth Family Hall of Athletics attached to Allen Fieldhouse.[12]
Their philanthropy focus has been educational institutions and art restoration projects. In 1998 Booth created the Friends of Heritage Preservation, which acts as a rapid response team for art preservation initiatives, encompassing both entire historical sites to single works of art.[12]
Family
He married Suzanne Deal Booth in 1988. The couple has two children, Erin Deal Booth and David Chandler Booth.[13]
In the news
On December 10, 2010 Booth purchased James Naismith's original 13 rules to basketball for $4.3 million dollars with the hope of displaying them at the University of Kansas.[14]
References
- ^ Bradshaw, Della (November 7, 2008). "Chicago gets $300m naming gift". Financial Times. http://www.ft.com/cms/s/2/ceb1907a-acbb-11dd-971e-000077b07658.html. Retrieved November 7, 2008.
- ^ Burns, Greg (November 6, 2008). "U of C graduate business school to be renamed after $300M gift". Chicago Tribune. http://www.chicagotribune.com/business/chicago-u-of-c-business-school-booth-nov06,0,1746880.story. Retrieved November 6, 2008.
- ^ Morse, Libby (November 6, 2008). "The True Believer: David Booth, ’71, proves his Chicago smarts by refusing to out-think the market". Chicago GSB Magazine www.chicagogsb.edu (University of Chicago Booth School of Business). http://www.chicagogsb.edu/booth/articles/true_believer/1.aspx. Retrieved November 7, 2008.
- ^ Hyland, Andy (November 8, 2008). "KU alumnus gives $300M to Chicago business school". Lawrence Journal-World (World Corporation). http://www2.ljworld.com/news/2008/nov/08/ku_alumnus_gives_300m_chicago_business_school/. Retrieved November 8, 2008.
- ^ a b Guth, Robert (November 6, 2008). "University of Chicago Business School Gets $300 Million Gift". The Wall Street Journal (Dow Jones, Inc.). http://online.wsj.com/article/SB122601317069606639.html?mod=djemalertNEWS. Retrieved November 6, 2008.
- ^ a b "Commission Members: David G. Booth". California Commission for Jobs and Economic Growth. 2008. http://www.4cajobs.com/commission/members/davidbooth/. Retrieved November 7, 2008.
- ^ http://www.georgetown.edu/about/board-of-directors/index.html
- ^ DFA biography "David G. Booth, Chief Executive Officer". Dimensional Fund Advisors. http://www.dfaus.com/library/bios/professionals/david_booth DFA biography. Retrieved November 7, 2008.
- ^ a b c David G. Booth's Philanthropy page. Faces of Philanthropy, accessed December 22, 2010.
- ^ a b c Record $300 Million Gift to Business School. University of Chicago, accessed December 22, 2010.
- ^ David & Suzanne Booth Charities. Business Exchange, accessed December 22, 2010.
- ^ a b c The 50 Top American Givers. Bloomberg Businessweek, accessed December 22, 2010.
- ^ Morse, Libby (November 6, 2008). "The Family Ethos: Suzanne Deal Booth". Chicago GSB Magazine (University of Chicago Booth School of Business). http://www.chicagogsb.edu/booth/articles/family_ethos/index.aspx. Retrieved November 7, 2008.
- ^ James Naismith's rules sold at auction
External links
Categories:- Living people
- University of Kansas alumni
- University of Chicago Booth School of Business alumni
- People from Kansas
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