David G. Booth Philanthropy

David G. Booth Philanthropy

Ranked sixth highest in The Chronicle of Philanthropy’s exclusive roster, The Philanthropy 50: Americans Who Gave the Most in 2008; David G. Booth made one of the largest endowments to an American university in history. Together with his wife Suzanne Deal, he continues to stay true to his commitment to give back to the community that has made a significant impact in his young life.

The 62-year old David Booth co-founded the Santa Monica, California-based international finance firm, Dimensional Fund Advisors. Today, the company oversees 300 diverse accounts and funds that are valued at about $120 billion in assets. Dimensional applies Booth’s directive of “passive investing,” which has served him well in amassing his own fortune.

Aside from Dimensional Fund Advisors, David Booth divides his time functioning as a non-executive director and member of the Risk Committee of Barclays Bank PLC ever since 2007. Prior to establishing his own firm, he served as the managing director of the Global Operations and Technology Division for investment company Morgan Stanley & Co.

Currently, David Booth is a trustee of the University of Chicago Business School, of which he is a Master’s in Business Administration 1971 alumnus. He acknowledges the guidance of several key professors in shaping his own financial philosophy when it comes to efficient market theories. Of those that David Booth feels gratitude for his “intellectual epiphany” and sharpening his business acumen are Frank Reilly, Merton Miller, and the mentor he has considered the greatest force of influence, Eugene Fama.

In 2008, together with his wife, the normally fame-reserved David Booth, pledged a $300 million commitment to the University of Chicago’s Business School. The payment, spread over a period of years, will be partly in cash and in the form of a considerable share of stock in the finance firm’s parent company, Dimensional Holdings. In honor of one of its most prominent alumni, the school decided to change its name to The University of Chicago Booth School of Business.

Although the amount has not yet been broken down into specific programs and projects, the fund’s general purpose is to further the school publications and research centers, as well as the faculty’s professional development that includes securing the employment of and retaining the best professors in the academe. There is also the opportunity to use part of the amount to expand its reputation as a regional player through its international campuses already in London and Singapore.

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