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Grizzly Bulls’ Billionaires Index

⬅ # 505 Tim Sweeney|# 507 Shen Guojun ➡

# 506 Frits Goldschmeding 

$5.91B

Real Time Net Worth
as of 7/25/2024
$20.5M (0.35%)

# 506 Frits Goldschmeding 

$5.91B

Real Time Net Worth
as of 7/25/2024
$20.5M (0.35%)
OccupationFounder, Randstad
Source of WealthTemp Agency
Age90
ResidenceAmsterdam, Netherlands
Marital StatusMarried
Children3
EducationDoctorate, Free University of Amsterdam
Age-Adjusted Net Worth$776.12M
Frits Goldschmeding
Frits Goldschmeding
Netherlands
Net worth: $5.91B

Self-Made Score 

Wealth History

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Biography

Overview

Frits Goldschmeding, born on August 2, 1933, is a Dutch billionaire businessman.
He holds a doctorate from VU University Amsterdam.
Goldschmeding founded Uitzendbureau Amstelveen (later Randstad) in 1960 with fellow economics student Ger Daleboudt while they were studying at Amsterdam's Vrije University.
The idea for the business was conceived during a late-night bicycle ride back from a fraternity party, with the first office established in their dorm room.
In 1964, they renamed the company to Randstad, symbolizing the urban area between Amsterdam, Utrecht, The Hague, and Rotterdam.
He took Randstad public in 1990 and merged it with Vedior in 2008.

Career Highlights

Goldschmeding retired from Randstad in 1998 but remained the largest shareholder with a 32% stake.
In 2016, Randstad acquired Monster.com for over $400 million, expanding its global reach.
He served as a professor at the Centre for Entrepreneurship at Nyenrode Business University.
Goldschmeding's net worth was reported to be $4.2 billion as of October 2019.
Randstad, under his leadership, grew to become the world's largest staffing company, with operations in 38 countries and revenue of €23.7 billion ($26.5 billion) in 2019.

Personal Life

Frits Goldschmeding is married and has three children.
He resides in Amsterdam, Netherlands.

Randstad Holdings and Growth

Randstad, founded in 1960 by Goldschmeding and Daleboudt, specializes in human resource services for temporary and permanent jobs across 39 countries.
The company's core activities include contract staffing, recruitment of professionals and senior managers, and HR solutions like selection processes and career support.
Randstad operates under various brand names such as Randstad, Tempo Team, Expectra, Ausy, and Yacht.
The company saw steady growth and international expansion throughout the years, with significant milestones like the acquisition of Flex and expansion into the United States.
In 2008, Randstad merged with Vedior, positioning itself as the second-largest staffing company globally.

Contributions to Temporary Staffing Industry

Goldschmeding's Randstad played a pivotal role in reshaping the temporary staffing industry, integrating client acquisition and candidate selection into a single consultant role.
The company faced challenges and criticisms in the early years, including regulatory scrutiny and negative perceptions of temporary staffing.
Randstad's advocacy and legal actions led to changes in government policies, easing restrictions on temporary staffing agencies and recognizing their role in employment promotion.
Under Goldschmeding's leadership, Randstad implemented innovative strategies like the Collective Labor Agreement for temporary staff and focused on growth despite economic downturns.
The company's commitment to quality and inclusivity was exemplified in initiatives like the Randstad Award and collaborations with tech giants like Google.

How long would it take you to become as rich as Frits Goldschmeding?

If you started with $10,000 and invested an additional $500 each month at a 44.11% CAGR, it would take you 5 years to reach Frits Goldschmeding's net worth of $5.91B.

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 52.22% compared to 16.62% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Frits Goldschmeding 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 Frits Goldschmeding, Temp Agency 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.

Edited by: Lee Bailey