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Richard SchulzeFounder and CEO of Best Buy
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Richard Schulz Biography
Richard Schulz, an American entrepreneur and billionaire, is the founder and CEO of Best Buy, a leading retail company in the field of consumer electronics. With a personal fortune of over four billion dollars, Richard is ranked among the most influential billionaires in the world according to Forbes magazine's 2006 rankings.
Early Life and Education
Richard Schulz was born in Saint Paul, Minnesota. He attended Central High School before pursuing his higher education at Marquette University. After a period of time, Schulz served in the United States Air Force before returning to continue his studies at the University of St. Thomas in Minnesota. In recognition of his achievements and virtues, the governor of Minnesota declared November 9, 1991, as Richard Schulz Day. In 2000, Richard made a significant donation of 50 million dollars to the University of St. Thomas, which became the institution's first major investment since its establishment. The donation helped establish the UST School of Law and the Schulze School of Entrepreneurship in Minneapolis.
Best Buy Co., Inc.
Best Buy Co., Inc., currently one of the largest retail organizations in the United States and Canada, specializes in selling consumer electronics. Initially named Sound of Music, the company changed its name to Best Buy Co., Inc. in 1983.
Under Richard Schulz's ownership, Best Buy Co., Inc. operates 1150 stores across Canada, the United States, and China. The company plans to further expand its retail presence in the near future. In addition to household appliances, Best Buy Co., Inc. also sells computer technology, video games, mobile phones, refrigerators, dryers, and washing machines.
Recently, Best Buy Co., Inc. was recognized as an innovative company by the publication Business Week and ranked among the world's most advanced retail organizations.
