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#1032

Richard Schulze

Source of wealth: Best Buy

Net Worth

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Earnings per second

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The scale of their wealth

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Health

The price of life

Let's compare Richard Schulze's fortune with the healthcare spending of a massive country

Richard Schulze could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 1.9 years.

But even if we compare their fortune with that of a rich country

On the other end, Richard Schulze could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 0.8 years.

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Education

Buying the future

Let's also compare their fortune with education spending, first with a poor country

Richard Schulze could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 1.2 years.

And yes, we can also compare it with a rich country

But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Richard Schulze could pay for it entirely for 1.6 years.

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Research

The monopoly on progress

Coming full circle, we think it's also interesting to add another gigantic country

Richard Schulze could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 6.9 years.

And of course, the country that invests the most per capita worldwide

But even if we compare the total wealth of Richard Schulze with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.2 years.

While billions of people struggle to access basic healthcare, education, and research, a single individual could fund entire national systems for centuries.

Gold

Everyday luxuries

Gold bar

Richard Schulze's fortune is equivalent to 28 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.

Gold rings

A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.

Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.

Richard Schulze could buy 7,540,263 gold rings. That's a lot of fingers and way too many gifts!!

And if you're struggling to visualize that many rings, it would take 1 trucks to transport them. Although Richard Schulze will almost certainly have enough money left over to pay for the gas.

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Biography

Richard Schulze worked as an electronics components manufacturer representative before opening his stereo equipment shop, Sound of Music, in 1966.

He grew it into the chain of superstores he renamed Best Buy.

He is chairman emeritus of Best Buy and its largest individual shareholder with a 7% stake.

Schulze served as the company's CEO from 1983 to 2002 and stepped down as chairman in 2012, when a scandal erupted around his hand-picked CEO.

Schulze aims to give away $1 billion of his fortune in his lifetime, through his family foundation.

Financial Assets

Exchange
NYSE
Ticker
BBY-US
Company
Best Buy Co. Inc.

Monthly wealth history

Fortune comparison

Historical data not available for comparison

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