Name
Charles Schwab
Charles Schwab
Woodside, California
Bachelor of Arts/Science, Stanford University | Master of Business Administration, Stanford Graduate School of Business
United States
Charles Schwab
8
discount brokerage, Self Made
$8,200,000,000
178
3
#178 Billionaires 2019
#52 Forbes 400 2018
Charles Schwab is chairman and founder of the eponymous brokerage firm, which manages $3.6 trillion worth of assets.He was CEO of the company until 2008, and remains the largest shareholder with a 11% stake.Schwab founded the firm as a traditional brick-and-mortar brokerage in 1971, with $100,000 borrowed from his uncle.The business really took off when Schwab started charging half of what full-service brokers did, after an SEC deregulation of brokerage commissions.A dyslexic and parent of one, Schwab donates to support research in learning differences. He is also behind a $30 million Alzheimer's research fund.
An avid collector of modern and contemporary art, Schwab is a trustee of SFMOMA.His initial venture into the investing world was through a subscriber based newsletter, the Investment Indicator, that Schwab founded with friends in 1963.
82
5
Add a review