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# 243 Charles Schwab 

$10.3B

Real Time Net Worth
as of 10/28/2024
-$14.5M (-0.14%)

# 243 Charles Schwab 

$10.3B

Real Time Net Worth
as of 10/28/2024
-$14.5M (-0.14%)
OccupationFounder and Chair, Charles Schwab
Source of WealthDiscount Brokerage
Age87
ResidenceWoodside, California
Marital StatusMarried
Children5
EducationMBA, Stanford Graduate School of Business; BS, Stanford University
Age-Adjusted Net Worth$1.66B
Charles Schwab
Charles Schwab
United States
Net worth: $10.3B

Self-Made Score 

Omega Men's Seamaster150 Analog Display Swiss Automatic Blue Watch

Wealth History

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Biography

Personal Information

Full Name: Charles Robert Schwab Sr.
Date of Birth: July 29, 1937
Birthplace: Sacramento, California
Parents: Terrie and Lloyd Schwab
Siblings: Younger sister
Marital Status: Married twice
Spouses: Susan Cotter (first marriage), Helen (O'Neill) Schwab (current)
Children: Charles Jr. ('Sandy'), Carrie, Virginia, Michael, Helen
Grandchildren: Haley, Samantha, Sydney, Charlie
Residence: Originally San Francisco (until 2020, sold house for $14 million), currently in Florida

Education

High School: Santa Barbara High School
Pre-College School: Holy Rosary Academy in Woodland
College: Stanford University (Bachelor of Arts in Economics, 1959)
Graduate School: Stanford Graduate School of Business (Master of Business Administration, 1961)
Fraternity: Knight of the Sigma Nu fraternity

Career and Business Ventures

Founder and Chairman: Charles Schwab Corporation
Founded the company in 1971 as a traditional brick-and-mortar brokerage with $100,000 borrowed from his uncle
Transitioned to discount sales of equity securities in 1975, pioneering the industry
CEO of Charles Schwab & Co. until 2008
Still owns more than 5% of the company's stock
Company Stats: Averages 5 million trades per day, 34 million client accounts, and $8.2 trillion in assets
Innovations: Revolutionized the industry by charging half of what full-service brokers did after SEC deregulation in 1975
Technology Pioneer: Introduced online trading in 1996, mobile/wireless trading in 2000, and established Charles Schwab Bank in 2003
Acquisition: Bought back the brokerage company from Bank of America in 1987 for $230 million and took it public
Leadership: Shared CEO title with David S. Pottruck from 1998 to 2003, regained sole control in 2004
Philanthropy: Active in the Charles and Helen Schwab Foundation, focusing on learning disabilities, including dyslexia

Charles Schwab's Wealth is Equivalent to:

7,936,875 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

1,950,804 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

105,371 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Charles Schwab?

If you started with $10,000 and invested an additional $500 each month at a 43.72% CAGR, it would take you 5 years to reach Charles Schwab's net worth of $10.3B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 60.38% compared to 22.68% for the S&P 500 benchmark.

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Charles Schwab is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Charles Schwab, Discount Brokerage is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Affiliate Disclosure: Some of the links on this page are affiliate links. This means that, at no additional cost to you, we may earn a commission if you click through and make a purchase. We only recommend products or services we believe will add value to our readers.

Edited by: Lee Bailey