Financier David Booth Has a Heart of Gold and an Impressive Net Worth

It's always nice to encounter a wealthy person who is generous with their money. Financier David Booth is a rich guy and a deeply committed philanthropist who has focused much of his effort on educational institutions and the arts. David is particularly interested in art restoration and the conservation of existing works. Fun fact: The David Booth Conservation Center and Department is responsible for the preservation of the Museum of Modern Art’s collection in New York.

Unlike many financially comfortable people, David comes from humble beginnings. He was born and raised in Kansas, and spent his youth listening to The University of Kansas football games on the radio. He worked his way through college selling shoes, which is where he learned that selling someone something that wasn't right for them, just to make money, didn't feel good.

According to Forbes, David had a net worth of $2.9 billion, which is pretty good for a former shoe salesman. David started his financial career with Wells Fargo, where he created one of the world's first index funds in the 1970s. In the spare room of his Brooklyn brownstone, David co-founded Dimensional Fund Advisors with Rex Sinquefield.

Dimensional grew to include more than 1,500 employees and $853 billion in assets. Although David remains closely involved with the strategic initiatives at the company, he stepped down as co-CEO in 2017. Per his bio, David spent his career "applying groundbreaking financial theory and research to the practical world of asset management." He pioneered what would later be known as factor investing.

In August 2025, David continued his philanthropic streak by donating $300 million to his alma mater, The University of Kansas. To be more specific, this gift was given to the athletic department for the Gateway District and David Booth Kansas Memorial Stadium. Not all of it is going towards construction, just $75 million. The rest will be used to generate income across all KU athletic teams for generations to come.

"David's unprecedented generosity is transformative now and for our future," said KU Athletics Director and Vice Chancellor Travis Goff. "It accelerates phase II of the Gateway District and the new 'Booth' and inspires others to step up and join in completing this vision. We're profoundly grateful for David's leadership and extraordinary impact on generations of student-athletes and fans. There is no more generous and impactful Jayhawk, and we are so fortunate to call him a friend and mentor."

For David, this is about much more than investing in a school he loves. It's about investing in the community as well. "One of life's greatest privileges is being able to give back to the people and places that gave so much to you," said David. "KU and Lawrence are a big part of my story, and it means a lot to support the community that invested in me." David believes philanthropy is the kind of investment that will see returns for years to come.