Charles Robert Schwab was born on July 29 1937, in Sacramento, California USA. A successful businessman, Charles Schwab is a prosperous investor, who is perhaps best known for establishing the Charles Schwab Corporation in 1973, a brokerage company dealing with over eight million clients in more than 300 offices across the United States, and also with offices in London and in Puerto Rico.
So just how rich is Charles Schwab? Sources estimate that Charles has an amazing current net worth of $6.2 billion, accumulated during his long career in business.
Charles Schwab Net Worth $6.2 Billion
There is no doubt that Charles Schwab Corporation is a very influential company as it has opened so many offices as is clearly the main sources of Charles Schwab’s net worth. However, Charles was also interested in sport when he was studying at high school. In particular, Schwab was so good at golf that he was appointed to be captain of the golf team in his school. In 1959, the young man graduated from Stanford University in Economics. At that time he probably had no idea this field would bring great revenues to Charles Schwab net worth, but then two years later Charles achieved his MBA degree from Stanford Graduate School of Business.
Charles Schwab’s net worth really began growing in 1963 when he, along with other two investors, established Investment Indicator. This newsletter became very popular and was subscribed to by approximately 3000 people. Every person paid a subscription of 84 dollars per year to Investment Indicator, which helped Charles to add income to his net worth, and as Investment Indicator kept on flourishing so Charles Schwab’s net worth continued to increase.
In 1971 Investment Indicator was absorbed into Commander Industries, Inc, and one year later Schwab became the owner of Commander Industries, Inc., and soon after altered the title of the company to Charles Schwab and Co, Inc; this company was to become the greatest source of Charles Schwab’s net worth.
What is interesting is that Charles Scwab decided to share his experience in business and investing with other people. In 1977 he began organizing seminars, which helped the company to enlist more than 45000 new clients. This number grew quickly, in two years to more than 84000, and by 1980 to over 147000 clients. Schwab became a member of the New York Stock Exchange in 1981, and his client base grew to 222,000. In 1982, Schwab became the first firm to offer 24/7 order entry and quote service. It opened its first international office in Hong Kong, and clients now totaled 374,000. Now the company serves over eight million client brokerage accounts world-wide and has almost $2 trillion in assets, from over 300 offices in the US, an office in Puerto Rico, and a branch in London, as well as in Hong Kong.
Speaking of his personal life, Charles Schwab has been dyslexic since birth, although this was only diagnosed at the age of 40. Schwab has three children from his first marriage to Susan Schwab, and is now married to Helen O’Neill, with whom he has two children. Charles and Helen founded The Charles and Helen Schwab Foundation, with the goal of helping people who suffer from dyslexia.
