David G. Booth

David Gilbert Booth (born c. 1946) is an American businessman, investor, and philanthropist. He is the Executive Chairman of Dimensional Fund Advisors, which he co-founded with Rex Sinquefield.

David G. Booth
Born
Lawrence, Kansas, United States
Alma materUniversity of Kansas (BA, MS)
University of Chicago (MBA)
OccupationCo-Founder and Executive Chairman, Dimensional Fund Advisors
Net worth US$1.8 billion (March 2020)[1]

Career

Booth graduated from Lawrence High School 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.[2] 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.[3]

The University of Chicago basically plucked me out of Kansas and put me on this trajectory ...Sometimes I wonder, why me? But it happened.

— David Booth[3]

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.[4]

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;[4] as a member of the Board of Directors of Georgetown University;[5] and as a Trustee of the University of Kansas Endowment Association.[6]

Philanthropy

David Booth has been recognized for making one of the largest gifts to an American university in history, pledging $300 million in November 2008 to the University of Chicago's Graduate School of Business, where he earned an MBA in 1971.[7] He is a trustee of the institution, which is now named The University of Chicago Booth School of Business.[7]

The gift is being spread over a period of years, in both cash and shares of Dimensional Holdings stock. It is dedicated to furthering the school publications and research centers, as well as the faculty's professional development.[7] The fund also provides for opportunities to expand the university's reputation internationally through campuses in London and Hong Kong.

In 1997 Booth, and his wife, Suzanne Deal Booth, gave $10 million for construction of a building on the University of Chicago campus.

In 2004 the Booths gave $9 million to the University of Kansas to fund the Booth Family Hall of Athletics attached to Allen Fieldhouse.[8]

The Booths were jointly named by BusinessWeek as number 34 of 2008's 50 Top American Givers. The list recognizes annually the 50 most generous American philanthropists. They are cited as having donated $309 million between the years 2004–2008.[9][8] 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, whose area of focus ranges from entire historical sites to single works of art.[8]

In 2010, the Booths acquired Dr. James Naismith's original 1891 copy of the 13 basic rules at auction for $3.8 million (laying out a total of $4,338,500 for the rules, auction house fees, and buyer's premium) with the intention of donating them to his alma mater University of Kansas (known as the Cradle of Basketball because Naismith coached at KU and his protégé Dr. Forrest C. "Phog" Allen, the Father of Basketball Coaching, helped it mature into the sport as it is known today during their years at KU)[10]. The purchase price set a world record for sports memorabilia.[11][12] The purchase of this historical artifact was documented in the 2012 ESPN 30 for 30 film There's No Place Like Home.[13]

The Booth Center for Special Collections at Georgetown's Lauinger Library, which contains a number of archival documents related to Georgetown as well as an extensive collection of rare books, manuscripts, and art, was funded by a $3 million donation from the Booths.[14][15]

Booth donated $56 million to renovate the University of Kansas football team’s stadium. The school renamed the stadium in his honor for the donation.[16]

References
  1. Forbes: The World's billionaires: David Booth 2 March 2020
  2. Hyland, Andy (November 8, 2008). "KU alumnus gives $300M to Chicago business school". Lawrence Journal-World. World Corporation. Retrieved November 8, 2008.
  3. Guth, Robert (November 6, 2008). "Chicago Business School Gets Huge Gift". The Wall Street Journal. Dow Jones, Inc. Retrieved November 6, 2008.
  4. "Commission Members: David G. Booth". California Commission for Jobs and Economic Growth. 2008. Archived from the original on October 26, 2008. Retrieved November 7, 2008.
  5. "Board of Directors — Georgetown University". Georgetown.edu. Retrieved February 2, 2012.
  6. "David G. Booth, Chief Executive Officer". Dimensional Fund Advisors. Archived from the original on March 14, 2014. Retrieved November 7, 2008.
  7. "Alumnus David Booth gives $300 million; University of Chicago Booth School of Business". University of Chicago News. November 8, 2008. Retrieved January 24, 2017.
  8. The 50 Top American Givers. Bloomberg Businessweek, accessed December 22, 2010.
  9. David & Suzanne Booth Charities Archived December 16, 2010, at the Wayback Machine. Business Exchange, accessed December 22, 2010.
  10. https://www.cradleofbasketball.com/home-1.html
  11. "Records Fall at Sotheby's Auctions". Wall Street Journal. December 11, 2010. Retrieved January 27, 2013.
  12. "James Naismith's rules sold at auction". Sports.espn.go.com. December 10, 2010. Retrieved February 2, 2012.
  13. "ESPN 30 for 30: There's No Place Like Home". ESPN. October 15, 2012. Retrieved January 27, 2013.
  14. "Gifts Fund $5 Million Renovation Of Special Collection Research Center". www.georgetown.edu. Georgetown University. Retrieved March 26, 2015.
  15. Miller, Ashley (January 23, 2015). "Library's Rare Books Excite". Newspaper (Vol. 96, No. 28). The Hoya. Retrieved March 26, 2015.
  16. Hancock, Peter. "KU football stadium to be renamed after donor David Booth". KU Sports.
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