⬅ # 472 David Bonderman|# 474 Dona Bertarelli

# 473 Jim Davis 

$6.22B

Real Time Net Worth
as of 6/24/2024

# 473 Jim Davis 

$6.22B

Real Time Net Worth
as of 6/24/2024
OccupationChair, New Balance
Source of WealthNew Balance
Age81
ResidenceNewton, Massachusetts
Marital StatusMarried
Children2
EducationBS, Middlebury College
Age-Adjusted Net Worth$1.50B
Jim Davis
Jim Davis
United States
Net worth: $6.22B

Self-Made Score 

Wealth History

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Biography

Overview

James S. Davis was born in 1943 in Brookline, Massachusetts, to Greek immigrants.
He attended Worcester Academy and earned a bachelor's degree in biology and chemistry from Middlebury College in 1966.
Davis started his career as a sales engineer and marketing manager before purchasing New Balance in 1972.
He and his wife Anna, who joined New Balance in 1977, own an estimated 95% of the company.
Davis transformed New Balance from a 6-employee firm into a global corporation with around 4,000 employees and annual revenues circa $2.5B.

Early Life and Education

Born in 1943 in Brookline, Massachusetts, to Greek immigrants.
Attended Worcester Academy for high school.
Earned a bachelor's degree in biology and chemistry from Middlebury College in 1966.
Played college football during his time at Middlebury College.

Career

Began his career as a sales engineer and marketing manager.
Purchased New Balance in 1972 when it was a small Boston shoemaker with only 6 employees.
Transformed New Balance into a global corporation with around 4,000 employees and annual revenues averaging $2.5 billion.
Served as a board member for various organizations including the Sporting Goods Manufacturers Association and the International Athletic Footwear & Apparel Manufacturers Association.
Donated $5 million to the University of Maine and received an honorary doctorate from Middlebury College.
Has been involved with various charitable organizations, including sitting on the board of trustees for the Sports Museum of New England.

Personal Life

Married with two children.
Resides in Newton, Massachusetts.

Political Involvement

Donated $500,000 to Mitt Romney's Super PAC, Restore Our Future.
Donated almost $400,000 to the Trump Victory Committee in September 2016.
Supports Boston mayoral candidate Annissa Essaibi George, contributing $495,000 to her super PAC in 2021.
New Balance faced backlash after a senior executive suggested support for Trump due to opposition to the Trans-Pacific Partnership, leading to social media outcry and boycott threats.

How long would it take you to become as rich as Jim Davis?

If you started with $10,000 and invested an additional $500 each month at a 44.13% CAGR, it would take you 5 years to reach Jim Davis's net worth of $6.22B.

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 48.35% compared to 16.28% for the S&P 500 benchmark.

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Jim Davis 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 Jim Davis, New Balance 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