⬅ # 564 Mikhail Lomtadze|# 566 Ty Warner

# 565 Jim Davis 

$5.76B

Real Time Net Worth
as of 5/18/2024

# 565 Jim Davis 

$5.76B

Real Time Net Worth
as of 5/18/2024
OccupationCofounder, Allegis Group
Source of WealthStaffing & Recruiting
Age64
ResidenceCockeysville, Maryland
Marital StatusMarried
Children2
EducationBS, Villanova University
Age-Adjusted Net Worth$4.39B
Jim Davis
Jim Davis
United States
Net worth: $5.76B

Self-Made Score 

Wealth History

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Biography

Overview

Jim Davis co-founded Allegis Group, the largest staffing firm in the U.S., in 1983 with his cousin Steve Bisciotti.
Allegis Group, initially known as Aerotek, matches job seekers with various industries and provides workforce management solutions.
The company has expanded globally with offices on four continents and annual revenues surpassing $15 billion.
Through Redwood Capital, Davis and Bisciotti invest in diverse ventures, from retirement communities to propane distribution.

Early Years and Entrepreneurship

Founded Aerotek in 1983 with cousin Steve Bisciotti in Maryland, USA.
Initially focused on aeronautics, engineering, and light industrial positions.
Expanded to new offices in Orlando, Florida, and Ft. Wayne, Indiana, in the mid-1980s.
Acquired Onsite Companies in the early 1990s, leading to expansion into commercial, environmental, and energy sectors.
Established TEKsystems in the late 1990s, catering to growing IT marketplace demands.
Rebranded as Allegis Group in the late 1990s, becoming the parent company.

Strategic Growth and Acquisitions

Established Allegis Group Services in the early 2000s for workforce management solutions.
Acquired MarketSource and launched Stephen James Associates division in the early 2000s.
Expanded into legal search and staffing services with the acquisition of Major, Lindsey & Africa in the mid-2000s.
Made international expansions with acquisitions like Talent2 and Aston Carter in the early 2010s.
Consolidated various businesses under Allegis Group's brand structure in the mid-2010s.
Continued global expansion, acquiring The Stamford Group in the late 2010s.

Investment Ventures

Through Redwood Capital, invests in a wide range of ventures beyond staffing.
Investments include ventures in retirement communities and propane distribution.
Diversification strategy spans multiple industries and sectors.
Focused on long-term growth and profitability beyond the staffing industry.
Strategic investments align with evolving market trends and opportunities.
Redwood Capital plays a significant role in expanding Davis's wealth portfolio.

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 44.10% CAGR, it would take you 5 years to reach Jim Davis's net worth of $5.76B.

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 42.76% compared to 11.89% 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, Staffing & Recruiting 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