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.