How Dick DeVos Gives Away His Fortune

Dick DeVos, the son of the co-founder of Amway, has had phenomenal success in his career. This had led to him and his wife, Betsy, giving back millions through their Dick and Besty DeVos Family Foundation. Over the course of the years, they have given almost $139 million away, including $11.6 million in 2015. They primarily give to nonprofits that are involved in education, arts, culture, leadership, and faith.

During 2015, Dick and Betsy gave $3 million to various educational charities. They also gave $2.4 million to charities that are involved in the arts and culture. One of the things that they are known for is giving money that doesn’t have restrictions on how it is spent. They believe that the organizers of a charity know what the priorities are and trust them to efficiently use the money to meet the goals of their nonprofit.

Dick DeVos has spent his career at Amway, The Windquest Group, and heading the Orlando Magic NBA team. He started at Amway in 1974 and filled a number of leadership positions at the company until he eventually left it in 2002. He was a Vice President at Amway for a number of years and President of it from 1993 to 2002. While serving as President, he had the responsibility of overseeing its global operations. In the year that he left the company, its annual revenue was $4.5 billion and it had operations in 50 countries. When his father purchased the Orlando Magic, Dick was named the Chief Executive Officer and President of the team, a role that he successfully held for three years.

The Windquest Group is an investment company that Dick DeVos co-founded with his wife Betsy. Through this company, he invests primarily in technology and manufacturing. They co-founded this company in 1991 and Dick continues to lead this firm. Early on, Dick DeVos saw the potential in alternative, sustainable forms of energy. He believes that in order for an investment in this area to be successful it needs to be not only environmentally sustainable it also needs to be economically sustainable as well. He doesn’t invest in technology that is very dependent on tax subsidies because he doesn’t believe that to be economically sustainable. Instead, he invests in ideas that are viable on their own without government incentives.

Outside of his work, Dick DeVos is an avid sailor. He has been named National Champion twice due to his sailing ability. He also enjoys flying and has acquired his licenses to fly both planes and helicopters. His marriage to Betsy has resulted in seven children and five grandchildren to date.

 

Hussain Sajwani Bringing Luxury To The Middle East

Hussain Sajwani, born in 1956 into a middle-class family, and is a citizen of the UAE. He is the eldest son of five children; the Hussain Sajwani family lived in Dubai where his father owned a watch shop.

From these rather humble beginnings, he has become one of the most successful and influential men in the Middle East. He was educated in America, holding a Bachelor of Science degree in Economics and Industrial Engineering from the University of Washington.

Soon after graduation, Hussain Sajwani went to work for GASCO, as a Contracts Manager. Soon he started his own business, a catering company. Starting small in 1982 it has grown to now serving over 150,000 meals a day, overseeing over 200 projects in the Middle East and Africa.

Besides servicing construction sites, army camps, educational institution, and 5-star hotels the company also offers ancillary services, such as maintenance and human resources supply.

Recognizing a market opportunity Hussain Sajwani established DAMAC Properties in 2002. Today, DAMAC has grown into one of the most successful and largest property development companies in the Middle East.

Hussian Sajwani has a broad understanding of development, his leadership in marketing, finance, and property administration has led DAMAC being involved in projects in middle eastern cities such as Dubai, Abu Dhabi, Beirut, and Riyadh to mention only a few. The Damac owner has also completed projects in London, England.

DAMAC and its nearly 2000 employees enjoy a very enviable track record in luxury property development. DAMAC has built almost 18,000 homes and currently has over 44,000 units in various stages of construction. DAMAC Properties has partnered with some of the most recognized names in the sports, entertainment and business world in the development of their properties.

A golf course designed by Tiger Woods and operated by Donald Trump, luxury apartments with interiors by Versace, luxury villas designed by Bugatti are some examples of what Hussain Sajwani and DAMAC are bringing to the world of luxury living.

Hussain Sajwani is a contributor to charitable foundations that support the region and local communities. Of particular interest to him are entrepreneurship initiatives designed to encourage young people to be innovative in their thinking about working toward a career.

He is interested in current trends in architecture, especially when it pertains to the history of the region. Hussain is married, and he and his wife live in Dubai with their four children.

Learn more about DAMAC owner: http://www.damac.com/terms-of-use/