Richard Schulze
Founder at Founders Properties LLC
Net worth: 1 725 M $ as of 2024-03-30
Profile
Dick Schulze is the founder and immediate past chairman of Best Buy. He lives in Bonita Springs, Florida.
Biography
He was born and raised in Saint Paul, Minnesota where he dropped out from Central High School. He subsequently spent time in the U.S. Air Force with the Minnesota Air National Guard. He has an honorary degree from the University of St. Thomas in Saint Paul. On November 9, 1991, Minnesota Governor Arne Carlson designated the day as Richard M. Schulze Day..
Schulze is Catholic and was married to Sandra J. Schulze until her death in 2001, with whom he had four children.
In May 2012, Richard Schulze announced that he is stepping down as Best Buy chairman after an investigation found that he knew that the CEO was having a relationship with a female employee and did not alert the audit committee.
It was announced on August 6, 2012 that Richard Schulze made a bid to buy out the Best Buy company. According to the report he already owns 20% of the company. This news caused the share price of Best Buy to go up slightly.>
By late February, talks between Best Buy Co. and Schulze ended. He and private equity investors sought three board seats in exchange for acquiring a minority stake in the company. However, he wasn't able to line up the funding >
On March 25, 2013 Best Buy Co. Inc. announced that Richard Schulze will rejoin the company that he founded with a new title: chairman emeritus. The Richfield-based retailer also announced that two former executives, Brad Anderson and Al Lenzmeier, will serve as Schulze’s representatives on the board of directors. They are key Schulze allies who had advised him on his attempt to buy the company. >
Source @ Wikipedia
Known holdings in public companies
| Company | Date | Number of shares | Valuation | Valuation date |
|---|---|---|---|---|
BEST BUY CO., INC.
9.76% | 2024-03-07 | 21,032,208 ( 9.76% ) | 1 725 M $ | 2024-03-30 |
Latest news about Richard Schulze
Richard Schulze active positions
| Companies | Position | Start |
|---|---|---|
University of St. Thomas
 University of St. Thomas Other Consumer ServicesConsumer Services The University of St. Thomas is an institution that values diversity, equity, and inclusion. The private company is based in St. Paul, MN. It offers over 150 undergraduate majors and minors, as well as graduate programs in various fields such as business, engineering, law, education, social work, and arts and humanities. The University of St. Thomas was founded in 1885 by John Ireland. | Director/Board Member | - |
Richard M. Schulze Family Foundation
 Richard M. Schulze Family Foundation Investment Trusts/Mutual FundsMiscellaneous Richard M. Schulze Family Foundation engages in the provision of support for education, human and social services, health and medicine, and college scholarships. The company was founded by Richard M. Schulze in 2004 and is headquartered in Naples, FL. | Director/Board Member | 2011-07-20 |
Founders Properties LLC
 Founders Properties LLC Real Estate Investment TrustsFinance Founders Properties LLC provides acquisition, financing, asset and investment management services for institutions, family offices and high-net-worth investors. Its institutional grade properties include office, industrial, retail, and mixed use projects in the U.S. The company was founded by Richard M. Schulze and Gerald Rauenhorst in 2010 and is headquartered in Minnetonka, MN. | Founder | 2009-12-31 |
Former positions of Richard Schulze
| Companies | Position | End |
|---|---|---|
| BEST BUY CO., INC. | Chief Executive Officer | 2001-12-31 |
Olympus Ventures LLC
 Olympus Ventures LLC Investment ManagersFinance Olympus Ventures LLC operates as a private equity investment firm. The private company is based in Minneapolis, MN. | Chairman | - |
Best Buy Capital
 Best Buy Capital Investment ManagersFinance Best Buy Capital (Best Buy Capital) is a venture capital subsidiary of Best Buy Co. Inc founded in 2008 by Richard M. Schulze. The firm is headquartered in Richfield, Minnesota. | Founder | - |
| Best Buy Children's Foundation | Director/Board Member | - |
Pentair, Inc.
 Pentair, Inc. Industrial MachineryProducer Manufacturing Pentair, Inc. manufactures water treatment systems. The company's products include water & wastewater pumps, filtration & purification, components & systems, storage tanks & pressure vessels and pool. Its applications include industrial machinery, data communications, networking, telecommunications, test and measurement, automotive, medical, security, defense and general electronics. The company was founded on August 31, 1966 by Murray Harpole, Vern Stone, Vincent Follmer, Leroy Nelson and Gary Ostrand and is headquartered in Minneapolis, MN. | Director/Board Member | - |
Experiences
Positions held
Connections
1st degree connections
1st degree companies
Male
Female
Members of the board
Executives
Linked companies
| Listed companies | 1 |
|---|---|
| BEST BUY CO., INC. | Retail Trade |
| Private companies | 6 |
|---|---|
Pentair, Inc.
Pentair, Inc. Industrial MachineryProducer Manufacturing Pentair, Inc. manufactures water treatment systems. The company's products include water & wastewater pumps, filtration & purification, components & systems, storage tanks & pressure vessels and pool. Its applications include industrial machinery, data communications, networking, telecommunications, test and measurement, automotive, medical, security, defense and general electronics. The company was founded on August 31, 1966 by Murray Harpole, Vern Stone, Vincent Follmer, Leroy Nelson and Gary Ostrand and is headquartered in Minneapolis, MN. | Producer Manufacturing |
| Best Buy Children's Foundation | |
Best Buy Capital
Best Buy Capital Investment ManagersFinance Best Buy Capital (Best Buy Capital) is a venture capital subsidiary of Best Buy Co. Inc founded in 2008 by Richard M. Schulze. The firm is headquartered in Richfield, Minnesota. | Finance |
Founders Properties LLC
Founders Properties LLC Real Estate Investment TrustsFinance Founders Properties LLC provides acquisition, financing, asset and investment management services for institutions, family offices and high-net-worth investors. Its institutional grade properties include office, industrial, retail, and mixed use projects in the U.S. The company was founded by Richard M. Schulze and Gerald Rauenhorst in 2010 and is headquartered in Minnetonka, MN. | Finance |
Richard M. Schulze Family Foundation
Richard M. Schulze Family Foundation Investment Trusts/Mutual FundsMiscellaneous Richard M. Schulze Family Foundation engages in the provision of support for education, human and social services, health and medicine, and college scholarships. The company was founded by Richard M. Schulze in 2004 and is headquartered in Naples, FL. | Miscellaneous |
Olympus Ventures LLC
Olympus Ventures LLC Investment ManagersFinance Olympus Ventures LLC operates as a private equity investment firm. The private company is based in Minneapolis, MN. | Finance |
- Stock Market
- Insiders
- Richard Schulze
