Category: Philanthropy

The Generosity of Betsy DeVos

Of the many influential families that currently reside in the United States, one family in particular stands out due to not only their excellence in the world of business, but also due to their excellence outside of business where they are known as a generous family who has given billions of dollars for economic growth towards local communities. This family is known as the DeVos family, a family that resides in West Michigan and that works hard on the family business that was founded by Richard DeVos, the head of the family as well as an inspirational businessman with a natural talent for leadership. The family company is known as Amway Corporation and is a company that looks to offer household products that are used everyday to households all over the world. What makes these products special is the fact that they are not only affordable, but they are also of the highest quality.

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As a prominent member of the family who founded Amway Corporation, Richard DeVos has inspired many of his children to carry on the business. Of his children, Dick DeVos has become an individual who has known that he wanted to follow in the footsteps of his father ever since he was a young boy. Even as a child with no formal education, Dick DeVos knew that he wanted to run the company and to make his father proud in the process. Dick DeVos has fond memories of playing with his brother in the company and helping the employees out by not only running errands, but also by filing papers and by giving product descriptions to clients.

In addition to Dick DeVos, his wife Betsy DeVos has become more and more involved in what the DeVos family is also known for; philanthropy. As the wife of a billionaire, Betsy DeVos has made sure that much of Dick DeVos’ income goes to renowned charities across the United States that all have the main goal of improving the well-being of the locals within communities. Betsy DeVos has worked hard with different foundations in order to create opportunities for everyone for success.

Of the many initiatives that Betsy and Dick DeVos are involved in, Dick and Betsy DeVos are the most passionate about the education initiative because it is their belief that an increase in human capital will lead to an increase in the overall economic well-being and economic growth. Betsy and Dick DeVos have used this belief to donate millions of dollars towards scholarships and even towards the building of schools. Dick and Betsy DeVos are particularly proud of a project that was completed in 2010 that was the building of the West Michigan Aviation Academy, a school of excellence that encourages further learning. Read her interview with Philanthropy Table.

Financial Support For Politics Once Again Becomes A Major Part Of The Life Of George Soros

The name George Soros is probably best known for different things in different parts of the world. Politico reports Soros is best known in the U.S. for providing high levels of financial support for left leaning political groups and candidates who he feels reflect his own liberal view of the world; Soros has not been as important in the Democratic Party over the course of the 21st century as he is often described buy conservative political commentators. In fact, George Soros followed his $27 million in donations to the campaign of John Kerry with smaller donations to the election fund of President Barrack Obama in 2008 and 2012 as he felt the world was in a much more stable position than it was in 2004 and again now in 2016. In 2016, George Soros returned to political giving in the U.S. by providing around $25 million to the campaign of Hillary Clinton and the Super PAC’s supporting her candidacy. Know more about George Soros on CNBC.

In the U.K., George Soros is well known for the excellence he has shown in the financial markets, which has led to Forbes rating his personal fortune at around $25 billion in 2017. George Soros began his own career as a hedge fund manager in 1969 with an investment of just $12 million he has turned into one of the most successful hedge funds in the world with total managed assets approaching $30 billion. In 1992, George Soros identified political and economic trends in the U.K. he felt would eventually lead to the devaluation of the British currency; Soros would eventually make $1 billion in a single day because of the devaluation of the British Pound in a move that added to the legend of the hedge fund manager on the financial markets.

Across the world the view of George Soros is often very different to the viewpoint maintained by conservative groups across the U.S. as the Open Society Foundations established by Soros have become major philanthropic supporters of groups in more than 100 countries. The establishment of the group was completed in a way that would allow Soros and his advisors the opportunity to identify groups and organizations fighting for the human rights of people across the planet in a way that was ethical and made a lasting impact. Soros began his philanthropic career with the Open Society Foundations by providing educational opportunities for black South Africans living under the Apartheid regime in the 1980s; since the 1980s the Open Society Foundations have operated across many different areas of the world and have developed new and interesting ways of supporting groups in countries like Russia and many African nations where democracy is often unknown to the citizens of these nations. Learn more about his profile at businessinsider.com

How Dick DeVos Has Earned His Respect Over The Years

Sometimes philanthropy is looked at as simply a side job for businessmen and famous people, but for Dick DeVos he has been active in it for many years. He’s been listed in several media outlets as one of the nation’s top giving people, and its a trademark his family has embraced throughout the years. His father Richard DeVos Sr. gave to many local charities throughout his business career and was the recipient of the Simon Prize in 2006. Dick has followed in those footsteps winning the Spectrum Health Foundation’s Art of Giving award that same year and he has aimed his philanthropy at improving social causes throughout the state. Dick and his wife Betsy have never been ostentatious about the amounts they’ve given, but during the confirmation hearings of Betsy’s nomination to Secretary of Education this last month, they disclosed that their lifetime giving has totaled around $139 million.

 

Dick DeVos is from the Grand Rapids area and has been a longtime businessman as have his brothers Daniel and Douglas and his sister Cheri. He started out at his family business Amway Corporation helping with small tasks as a young boy, but he moved into the managerial roles at only 19. At 29 he became a company vice president and during his time in that role he was responsible for growing sales in the European and Asian Pacific markets. Dick briefly left Amway in 1989 and launched his own business, The Windquest Group in 1989 which has become a large investor in Michigan based companies. He returned to Amway in 1993 and became CEO. He focused even more resources in the foreign markets as CEO and in his final year at the company he helped bring in $4.5 billion in profits. Dick stepped down in 2002 and devoted his resources to The Windquest Group.

 

Dick and his wife Betsy have made most of their philanthropy about education, though they have also donated to local food banks, hospitals, churches, museums and arts centers. They have been staunch proponents of school of choice and making private education more affordable for lower income families. They’ve helped establish scholarships towards this effort and even tried at one time to get voucher programs and tax credit legislation passed but came up short. They have been against Common Core and started the Great Lakes Education Project to expand charter schools. They also founded one of their own called The West Michigan Aviation Academy.

 

Dick DeVos has always been politically active and supports Republican candidates, and one time he decided he himself needed to make a difference in the political arena by running for Governor of Michigan in 2006. He came up short in that effort, but he kept fighting for conservative reform agendas. He eventually led an effort that passed state right-to-work legislation in 2012. He and Betsy also support groups such as Hudson Institute, Heritage Foundation and Action Institute.