David G. Booth
David G. Booth | |
|---|---|
| Born | December 2, 1946 Lawrence, Kansas, U.S. |
| Occupation(s) | Entrepreneur, investor, philanthropist |
| Known for | Co-founder and chairman of Dimensional Fund Advisors |
| Notable work | Co-author of "Diversification Returns and Asset Contributions" |
David Gilbert Booth (born December 2, 1946) is a prominent American entrepreneur, investor, and philanthropist. He serves as chairman and co-founder of Dimensional Fund Advisors, a firm he established with Rex Sinquefield.
Early life and education
Hailing from Lawrence, Kansas, Booth completed his secondary education at Lawrence High School. He obtained a Bachelor of Arts degree in economics in 1968, followed by a Master of Science in business in 1969, both from the University of Kansas.
Beginning in 1969, Booth embarked on doctoral studies at the University of Chicago Graduate School of Business, but departed in 1971 with an MBA. During this period, he worked closely as a research assistant to Eugene Fama and encountered his future collaborator, Rex Sinquefield.
Together with Fama, Booth co-wrote “Diversification Returns and Asset Contributions,” an influential paper honored with the 1992 Graham and Dodd Award of Excellence by the Financial Analysts Journal.
Career
Following his departure from graduate school in Chicago, Booth contributed to the development of one of the earliest index funds during the 1970s at Wells Fargo, working under John “Mac” McQuown. In 1981, he founded Dimensional Fund Advisors and introduced the first passively managed investment strategy targeting small-cap companies. Under Booth’s guidance, Dimensional expanded from a modest Brooklyn apartment operation into a global investment management firm employing over 1,500 staff and overseeing nearly $800 billion in assets. He held roles as CEO and later Co-CEO until 2017 before assuming the position of chairman while continuing to influence strategic direction.
Booth’s professional focus lies in leveraging financial theory within asset management. Dimensional’s methodology is rooted in the principles of the Efficient-market hypothesis and innovative factor investing, emphasizing market sectors that offer higher anticipated returns. The firm's research team designs strategies intended to surpass conventional index fund performance.
Booth has served on numerous institutional boards including the Becker Friedman Institute Advisory Board, the Hoover Institution Board of Overseers, and has held trusteeships at New York’s Museum of Modern Art, the University of Chicago (as trustee emeritus), and the University of Kansas Endowment Association (as a life trustee).
By August 2021, Forbes estimated his personal net worth at approximately $2 billion.
Philanthropy
A passionate collector of art and an enthusiast of sports, Booth has directed much of his charitable efforts toward educational organizations and art restoration initiatives throughout the United States.
In 1999, he contributed $10 million to establish the Charles M. Harper Center at the University of Chicago. Later, in 2008, he committed $300 million to support the university’s Graduate School of Business—now bearing his name as the University of Chicago Booth School of Business—funding publications, international growth, research centers, and faculty advancement. Booth holds the title of trustee emeritus at this institution.
His generosity extends to athletics at the University of Kansas, where he donated $9 million in 2004 for the Booth Family Hall of Athletics and over $50 million in 2017 aimed at renovating the football stadium, which subsequently adopted his name.
In 2010, Booth acquired Dr. James Naismith's original basketball rules from 1891 for $3.8 million—a record-setting price for sports memorabilia—and gifted them to the University of Kansas, often referred to as the "Cradle of Basketball."
He also provided $3 million in 2014 to establish Georgetown University's Booth Center for Special Collections. Additionally, the David Booth Conservation Center and Endowment Fund support preservation efforts at New York’s Museum of Modern Art and initiated its Conservation Fellowship Program in 2018.
Booth became a signatory to the Giving Pledge in 2018, committing to allocate half his wealth toward philanthropic causes. In 2019, he pledged $10 million to aid construction of the Giant Magellan Telescope at the University of Texas at Austin. His contributions earned him the College of Natural Sciences Distinguished Service Award and induction into its Hall of Honor in 2022.
Personal life
David G. Booth was wed to Suzanne Deal Booth in 1998; the couple later separated. Together, they have two children named David and Erin Booth.
Awards and Honors
- Recipient of the Museum of Modern Art’s David Rockefeller Award in 2022
- Honored with the University of Chicago Medal in 2018
- Awarded the Investment News Icons and Innovators Award in 2017
- Received the Institutional Investor Investment Management Lifetime Achievement Award in 2016
- Listed among Forbes Money Masters: The 40 Most Influential Figures in Finance in 2016
- Recognized by the Financial Management Association International with the Outstanding Financial Executive Award in 2012
- Featured in Investment News’ “The Power 20” within financial services in 2010
- Earned the Graham and Dodd Award of Excellence from Financial Analysts Journal in 1992
External links
- Professional Biography on Dimensional Fund Advisors website
- 1946 births
- Living people
- 20th-century American businesspeople
- 21st-century American businesspeople
- 21st-century American philanthropists
- American billionaires
- American financial analysts
- American financial company founders
- American financiers
- American investors
- Businesspeople from Kansas
- Georgetown University people
- People from Lawrence, Kansas
- University of Chicago Booth School of Business alumni
- University of Chicago people
- University of Kansas alumni