Charles Schwab is a famous American who is not only an investor but also a philanthropist. The man is also a successful financial executive. Schwab is the founder as well as the chairman of the Charles Schwab Corporation. He was also its Chief Executive Officer (CEO) until his retirement in 2008. It is on record as one of the biggest dealers of discount securities. It is impressive just how much he accomplished from what he pioneered back in 1975, security discounts sales of equity securities. Being one of the wealthiest men in the world, how much is he worth? How did he amass the wealth? If the questions bother you, I cannot imagine a better place. Other than his life story, we will also discuss Charles Schwab’s net worth in 2018, career and earnings.
Charles Schwab Early Life
Charles Schwab was born in 1937 on 29th July as Charles Robert Schwab. He was born Terrie together with Lloyd Schwab. His place of birth was Sacramento, California, the United States of America.
For his studies, here are the details. He went to Santa Barbara High School. Its location is in Santa Barbara, California. While there, he was the golf team’s captain. He then proceeded to a pre-college school called Holy Rosary Academy found in Woodland. Upon completing, he joined the Stanford University. He earned a B.A. in Economics and the graduation year was 1959. Two years later, he received an MBA from the Stanford Graduate School of Business.
Schwab’s first marriage was to Susan Schwab. They welcomed three children namely Virginia, Carrie and Charles Jr. Subsequently, he remarried. His second and current wife is Helen Schwab, and they have two children called Helen and Michael. His wife is the president of the Charles and Hellen Schwab Foundation. In addition to that, she is a council member on the Advisory Council of Financial Capability of President Obama.
Charles Schwab Career, Awards & Achievements
Initially, Charles and three others started an investment newsletter called Investment Indicator in 1963. That same year in November, he and other four people bought the stocks of Commander Industry, Inc. By 1972, Schwab was its only owner. The following year, he changed its name to Charles Schwab & Co, Inc.
He began a bank in 1975, and its first branch was in Sacramento, California. He sold it to the Bank of America. He did not give up his presidency in the bank. He launched the mobile financial app called PocketBroker as well.
Awards & Achievements
In 2018, Fortune concluded that his company is among the most admired ones. It is in position one as far as innovation, utilization of corporate assets as well as social responsibilities. That is in the category of Securities and Asset management is concerned. Because his company uses the best IT, he received an American Financial Technology Award as well.
Net Worth of Charles Schwab
Charles Schwab net worth is estimated to be over $10.5 billion. His primary source of income is his career as an investor. He also often holds seminars for clients and charge them for the same. The net worth is an improvement. Why not when his wealth amounted to $8.2 billion in 2017? That led to him clinching the 76th position among the Forbes 400. With his many investments, the figure mentioned above is not a surprise.
Charles Schwab is not only an investor but also a financial executive. Equally important, he is a philanthropist. He discovered that he is dyslexic at the age of 40. That was after he learns that the son shared that same fate. The good thing is that he pressed on, regardless. In addition to that, he began a foundation that would help children with the same.