David Booth
Austin, Texas
Bachelor of Arts/Science, University of Kansas | Master of Science, University of Kansas
United States
Dimensional Fund Advisors
mutual funds, Self Made
$2,000,000,000
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#1349 Billionaires 2019
When David Booth cofounded Dimensional Fund Advisors in 1981, he began a decades-long experiment in applying academic theory to real-world investing.His former professor Eugene Fama authored the efficient markets hypothesis, which argues that it's impossible to consistently beat the market.In light of Fama's research, Booth eschewed stock picking and focused on offering investors low-cost, passive mutual funds.Dimensional now manages more than $500 billion in assets, most of which is steered via hand-vetted financial advisors.In May 2018, Booth joined the Giving Pledge and committed to donate over half of his wealth to charity.
Booth paid $4.3 million for James Naismith's original rules of basketball, written in 1891, which is now displayed at the University of Kansas.In 2008, Booth donated $300 million to the University of Chicago, which is still the largest gift in its history.
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