David G. Booth
Encyclopedia
David G. Booth is co-founder and co-CEO of Dimensional Fund Advisors
(along with Eduardo Repetto.) In 2008, he donated $300 million to the University of Chicago
Graduate School of Business, which is the largest donation ever given to a business school.
It has been renamed the University of Chicago Booth School of Business. He earned his MBA degree from the school in 1971.
Booth grew up in Lawrence, Kansas
.
in Lawrence, Kansas
and then received a B.A. in economics in 1968 and an M.S. in business in 1969 from the University of Kansas
, also located in Lawrence.
He then enrolled at the University of Chicago GSB in 1969 as a doctoral student, leaving in 1971 with an M.B.A. degree. He was a research assistant to Eugene Fama
, and met his future business partner, Rex Sinquefield
at the school.
After pioneering index fund
investing at Wells Fargo
Bank, he joined with Sinquefield in 1981 to form Dimensional Fund Advisors
. The fund focuses on investment strategies in "small" (low capitalization) stocks, as well as "value" (low price/book ratio
) and non-U.S. stocks. The firm, which is privately held, manages about $206.5 billion.
He has published several academic articles including "Diversification Returns and Asset Management" with Eugene Fama
. The article won the 1992 Graham and Dodd Award of Excellence from the Financial Analysts Journal.
David Booth has served on many institutional boards, including as a Governor of the Kravis Leadership Institute and the UCLA Foundation; as a Trustee of the American Academy in Rome
and the Paintings Conservation Council of the J. Paul Getty Trust
; as a Trustee of the University of Chicago; as a member of the Board of Directors of Georgetown University
; and as a Trustee of the University of Kansas Endowment Association.
The payment towards the university is being spread over a period of years, and will be partly in cash and in the form of a considerable share of stock in the finance firm's parent company, Dimensional Holdings. The fund's general purpose is to further the school publications and research centers, as well as the faculty's professional development that includes securing the employment of the best professors in the academe.
Also, there is opportunity to use part of the amount to expand the university's reputation as a regional player through its international campuses in London and Singapore. Booth had graduated from the university in 1971 with a Masters in Business Administration. He is also a trustee of the University's business school, which is now named The University of Chicago Booth School of Business in his honor.
In 1997 Booth, along with his wife, also gave $10 million to support the construction of a campus building.
David and his wife Suzanne Deal Booth were named by BusinessWeek as number 34 of 2008's 50 Top American Givers. The list recognizes annually the 50 most generous U.S. Philanthropists. They are cited as having donated $309 million between the years 2004–2008.
In 2004 the Booth family gave $9 million to the University of Kansas
to fund the Booth Family Hall of Athletics attached to Allen Fieldhouse
.
Their philanthropy focus has been educational institutions and art restoration
projects. In 1998 Booth created the Friends of Heritage Preservation, which acts as a rapid response team for art preservation initiatives, encompassing both entire historical sites to single works of art.
original 13 rules to basketball for $4.3 million dollars with the hope of displaying them at the University of Kansas.
Dimensional Fund Advisors
Dimensional Fund Advisors is an investment firm headquartered in Austin, Texas with regional offices in Amsterdam, Berlin, London, Santa Monica, Sydney, and Vancouver. The company was founded in 1981 by David G. Booth and Rex Sinquefield, both graduates of the University of Chicago Booth School of...
(along with Eduardo Repetto.) In 2008, he donated $300 million to the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
Graduate School of Business, which is the largest donation ever given to a business school.
It has been renamed the University of Chicago Booth School of Business. He earned his MBA degree from the school in 1971.
Booth grew up in Lawrence, Kansas
Lawrence, Kansas
Lawrence is the sixth largest city in the U.S. State of Kansas and the county seat of Douglas County. Located in northeastern Kansas, Lawrence is the anchor city of the Lawrence, Kansas, Metropolitan Statistical Area, which encompasses all of Douglas County...
.
Career
He graduated from Lawrence High SchoolLawrence High School (Kansas)
Lawrence High School is a fully accredited public high school located in Lawrence, Kansas, serving students in grades 9-12. The school is one of the two public high schools located in the city. Lawrence High enrolled 1,260 students in the 2007-2008 school year...
in Lawrence, Kansas
Lawrence, Kansas
Lawrence is the sixth largest city in the U.S. State of Kansas and the county seat of Douglas County. Located in northeastern Kansas, Lawrence is the anchor city of the Lawrence, Kansas, Metropolitan Statistical Area, which encompasses all of Douglas County...
and then received a B.A. in economics in 1968 and an M.S. in business in 1969 from the University of Kansas
University of Kansas
The University of Kansas is a public research university and the largest university in the state of Kansas. KU campuses are located in Lawrence, Wichita, Overland Park, and Kansas City, Kansas with the main campus being located in Lawrence on Mount Oread, the highest point in Lawrence. The...
, also located in Lawrence.
He then enrolled at the University of Chicago GSB in 1969 as a doctoral student, leaving in 1971 with an M.B.A. degree. He was a research assistant to Eugene Fama
Eugene Fama
Eugene Francis "Gene" Fama is an American economist, known for his work on portfolio theory and asset pricing, both theoretical and empirical. He is currently Robert R...
, and met his future business partner, Rex Sinquefield
Rex Sinquefield
Rex Sinquefield, 62, is a conservative businessman active in Missouri politics and philanthropic causes.-Background:Raised in in Saint Louis, Sinquefield received his MBA from the University of Chicago in 1972, his B.S. in 1967 from St. Louis University, where he is a member of the board of...
at the school.
After pioneering index fund
Index fund
An index fund or index tracker is a collective investment scheme that aims to replicate the movements of an index of a specific financial market, or a set of rules of ownership that are held constant, regardless of market conditions.-Tracking:Tracking can be achieved by trying to hold all of the...
investing at Wells Fargo
Wells Fargo
Wells Fargo & Company is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home...
Bank, he joined with Sinquefield in 1981 to form Dimensional Fund Advisors
Dimensional Fund Advisors
Dimensional Fund Advisors is an investment firm headquartered in Austin, Texas with regional offices in Amsterdam, Berlin, London, Santa Monica, Sydney, and Vancouver. The company was founded in 1981 by David G. Booth and Rex Sinquefield, both graduates of the University of Chicago Booth School of...
. The fund focuses on investment strategies in "small" (low capitalization) stocks, as well as "value" (low price/book ratio
P/E ratio
The P/E ratio of a stock is a measure of the price paid for a share relative to the annual net income or profit earned by the firm per share...
) and non-U.S. stocks. The firm, which is privately held, manages about $206.5 billion.
He has published several academic articles including "Diversification Returns and Asset Management" with Eugene Fama
Eugene Fama
Eugene Francis "Gene" Fama is an American economist, known for his work on portfolio theory and asset pricing, both theoretical and empirical. He is currently Robert R...
. The article won the 1992 Graham and Dodd Award of Excellence from the Financial Analysts Journal.
David Booth has served on many institutional boards, including as a Governor of the Kravis Leadership Institute and the UCLA Foundation; as a Trustee of the American Academy in Rome
American Academy in Rome
The American Academy in Rome is a research and arts institution located on the Gianicolo in Rome.- History :In 1893, a group of American architects, painters and sculptors met regularly while planning the fine arts section of the 1893 World's Columbian Exposition...
and the Paintings Conservation Council of the J. Paul Getty Trust
J. Paul Getty Trust
The J. Paul Getty Trust is the world's wealthiest art institution with an estimated endowment in April 2009 of $US 4.2 billion. Based in Los Angeles, California, it operates the J. Paul Getty Museum, which has two locations, the Getty Center in Los Angeles and the Getty Villa in Pacific...
; as a Trustee of the University of Chicago; as a member of the Board of Directors of Georgetown University
Georgetown University
Georgetown University is a private, Jesuit, research university whose main campus is in the Georgetown neighborhood of Washington, D.C. Founded in 1789, it is the oldest Catholic university in the United States...
; and as a Trustee of the University of Kansas Endowment Association.
Philanthropy
David G. Booth has been recognized for making one of the largest endowments to an American university in history, giving back to his Alma mater the University of Chicago's Graduate School of Business $300-million in November 2008.The payment towards the university is being spread over a period of years, and will be partly in cash and in the form of a considerable share of stock in the finance firm's parent company, Dimensional Holdings. The fund's general purpose is to further the school publications and research centers, as well as the faculty's professional development that includes securing the employment of the best professors in the academe.
Also, there is opportunity to use part of the amount to expand the university's reputation as a regional player through its international campuses in London and Singapore. Booth had graduated from the university in 1971 with a Masters in Business Administration. He is also a trustee of the University's business school, which is now named The University of Chicago Booth School of Business in his honor.
In 1997 Booth, along with his wife, also gave $10 million to support the construction of a campus building.
David and his wife Suzanne Deal Booth were named by BusinessWeek as number 34 of 2008's 50 Top American Givers. The list recognizes annually the 50 most generous U.S. Philanthropists. They are cited as having donated $309 million between the years 2004–2008.
In 2004 the Booth family gave $9 million to the University of Kansas
University of Kansas
The University of Kansas is a public research university and the largest university in the state of Kansas. KU campuses are located in Lawrence, Wichita, Overland Park, and Kansas City, Kansas with the main campus being located in Lawrence on Mount Oread, the highest point in Lawrence. The...
to fund the Booth Family Hall of Athletics attached to Allen Fieldhouse
Allen Fieldhouse
Allen Fieldhouse is an indoor arena at the University of Kansas in Lawrence, Kansas. The arena, named in honor of Dr. Forrest C. "Phog" Allen, who coached the university's men's basketball team for 39 years, is one of college basketball's most historically significant and prestigious buildings...
.
Their philanthropy focus has been educational institutions and art restoration
Art restoration
Art restoration is related to art conservation. Restoration is a process that attempts to return the work of art to some previous state that the restorer imagines was the "original". This was commonly done in the past...
projects. In 1998 Booth created the Friends of Heritage Preservation, which acts as a rapid response team for art preservation initiatives, encompassing both entire historical sites to single works of art.
Family
He married Suzanne Deal Booth in 1988. The couple has two children, Erin Deal Booth and David Chandler Booth.In the news
On December 10, 2010 Booth purchased James Naismith'sJames Naismith
The first game of "Basket Ball" was played in December 1891. In a handwritten report, Naismith described the circumstances of the inaugural match; in contrast to modern basketball, the players played nine versus nine, handled a soccer ball, not a basketball, and instead of shooting at two hoops,...
original 13 rules to basketball for $4.3 million dollars with the hope of displaying them at the University of Kansas.