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Richard Marvin DeVos Sr., an American billionaire businessman who co-founded Amway with Jay Van Andel and owned the Orlando Magic basketball team, has died at the age of 92-years-old.
DeVos graduated from Calvin College and was a member of the Sigma Phi Epsilon Fraternity before he served in the United States Army Air Corps in World War II.
DeVos, born March 4, 1926, bought the Magic for $85 million in 1991. In 2012, DeVos was listed in Forbes magazine as the 60th-wealthiest person in the United States. The Orlando Magic are currently valued at approximately $900 million.
Amway, the company he co-founded, is an American company specializing in the use of multi-level marketing to sell health, beauty, and home care products. Amway has a current revenue of approximately $8.8 billion.
via Detroit Free Press:
Family spokesman Nick Wasmiller says DeVos died at his western Michigan home due to complications from an infection, the Associated Press said.
DeVos was a powerful speaker, promoting Amway’s compassionate capitalism around the world. In a speech, he said that the company’s goal should be, “to make the lonely and frustrated and scared to have that sense of hope and security.”
As Amway thrived, DeVos gave back to the community, investing millions of dollars into downtown Grand Rapids. Along with Van Andel, who died in 2004, no one is more responsible for the city’s renaissance.
DeVos was also one of the country’s leading donors to the Republican party and he owned the Orlando Magic of the NBA. DeVos’ last big contribution to Grand Rapids was the construction of the J.W. Marriot hotel.
DeVos was the father-in-law of controversial Secretary of Education Betsy DeVos.
