Jim Davis (businessman)
James S. Davis | |
|---|---|
| Born | May 17, 1943 Brookline, Massachusetts, U.S. |
| Occupation(s) | Entrepreneur, Businessman |
| Known for | Owner and chairman of New Balance; early backer of Major League Lacrosse |
James S. Davis (born May 17, 1943) is an American entrepreneur and billionaire, serving as the owner and chairman of New Balance, as well as an early backer of Major League Lacrosse.
Early life
Born in 1943 in Brookline, Massachusetts to parents who immigrated from Greece, Davis completed his education at Worcester Academy before obtaining a bachelor's degree in biology and chemistry from Middlebury College in 1966. During his time at Middlebury, he also participated in college football.
Career
Davis started his professional journey working as a sales engineer for LFE Corporation and later as a marketing manager at Techven Associates, both located in Massachusetts. In 1972, he purchased New Balance, which was then a modest Boston-based company with just six employees. Under his leadership, the company expanded into a multinational enterprise employing around 4,000 people and generating approximately $2.5 billion in annual revenue. His board memberships have included the Sporting Goods Manufacturers Association, the International Athletic Footwear & Apparel Manufacturers Association, the Two/Ten Foundation, and Citizen's Bank headquartered in Providence, Rhode Island.
Philanthropically, Davis has contributed $5 million to the University of Maine and was awarded an honorary doctorate by Middlebury College, where a campus library bears his name. He has also held trustee positions at Middlebury College, Worcester Academy, Newbury College, the Sports Museum of New England, and previously at the Boston Children's Museum.
By 2017, Davis was ranked as the 324th wealthiest individual worldwide and 94th within the United States, with an estimated net worth of $5.1 billion.
Personal life
Davis lives in Newton, Massachusetts with his wife and their two children.
Politics
Davis has been an active political donor, contributing $500,000 to Mitt Romney’s Super PAC Restore Our Future and nearly $400,000 to the Trump Victory Committee during the 2016 election cycle. After the election that year, a New Balance executive publicly supported Donald Trump due to his stance against the Trans-Pacific Partnership trade agreement; this endorsement resulted in social media criticism and consumer boycotts.
In 2021, Davis provided $495,000 to a super PAC supporting Annissa Essaibi George’s Boston mayoral campaign; she subsequently advanced to the general election. More recently, on April 1, 2025, he donated $1 million to the super PAC Your City Your Future Independent Expenditure Political Action Committee backing Josh Kraft—son of billionaire Robert Kraft—in his bid for Boston mayor in 2025.