Richard Schulze

Richard Michael Schulze is an American businessman. He is the founder of Best Buy and previously served as chairman and CEO. On the Forbes 2016 list of the world’s billionaires, he was ranked #722 with a net worth of US$2.4 billion.

• Richard Schulze worked as an electronics components manufacturer before opening his stereo equipment shop, Sound of Music, in 1966.
• He grew it into the chain of superstores he renamed Best Buy.
• He is chairman emeritus and its largest individual shareholder with a 12% stake.
• Schulze served as the company’s CEO from 1983 to 2002 and stepped down as chairman in 2012, when a scandal erupted around his hand-picked CEO.
• Schulze aims to give away $1 billion of his fortune in his lifetime, through his family foundation.