A Deep Dive into the Life of Betsy DeVos
Elisabeth Dee DeVos, fondly known as Betsy DeVos, has carved a significant niche for herself in the realms of politics, education, and business. Born in January 1958, in the bustling city of Michigan, Betsy DeVos is an iconic figure in the Republican party, showcasing her prowess as the Secretary of Education until she resigned in January 2021.
- Betsy DeVos served as the 11th United States Secretary of Education and is a key member of the Republican party.
- She is married to Dick DeVos, and they have four children. They also own the yacht, Legacy.
- Her father, Edgar Prince, was the founder of Prince Corporation, and her brother, Erik Prince, is at the helm of the Frontier Resource Group.
- Her husband, Dick DeVos, is the son of Richard DeVos, co-founder of Amway.
- Dick DeVos owns The Windquest Group, with Betsy DeVos having served as Chairman.
- The DeVos family are active philanthropists and have a net worth estimated at $5 billion.
- Betsy DeVos resigned as Secretary of Education in January 2021.
- The family owned the Legacy yacht (now sold and named Maison Blanche)
Betsy’s Educational Background and Family Ties
Betsy DeVos is a proud alumnus of Calvin College, located in Grand Rapids, Michigan. Born to Edgar Prince, a notable founder of Prince Corporation, she inherited an entrepreneurial spirit from her father. The company, known for creating car parts and interior systems for car manufacturers, was sold for a whopping US$ 1.35 billion post the demise of Edgar Prince.
Her brother, Erik Prince, is an influential figure in the private equity sector, presently at the helm of the Frontier Resource Group. Erik Prince also marked his territory in the government services and security industry by founding the renowned company, Blackwater USA.
Betsy’s Marriage and Children
Betsy is happily married to Dick DeVos. Their union has been blessed with four children: Andrea, Ryan, Richard III, and Elisabeth DeVos. Their shared love for yachting is showcased in their possession of the yacht Legacy.
Understanding the Role of Dick DeVos
Dick DeVos, the son of Richard DeVos, carries on his father’s legacy as a billionaire founder of Amway. The family roots are deeply ingrained in the soil of Michigan.
Legacy of Amway and Richard DeVos
Richard DeVos, in collaboration with his friend Jay Van Andel, established Amway in 1959. This multi-level marketing company delivers high-quality consumer products spanning across the nutrition, beauty, and home categories.
Beginning with the sale of Nutrilite food supplements, the company swiftly grew, marking its spot as one of the 30 largest companies in the US. At present, Amway boasts impressive US$ 9.5 billion in sales and employs more than 20,000 dedicated professionals. Doug DeVos, Dick DeVos’s brother, serves as the current president of Amway.
The Windquest Group and Betsy DeVos’s Role
Dick DeVos is also the proud owner of The Windquest Group, a proficient investment management firm. The firm’s investment portfolio is mainly composed of technology and clean tech. Notable investments include Electra-Therm, Boxed Water, and AOBiome.
Betsy DeVos held the position of Chairman at Windquest. Further, DeVos is the founder of the West Michigan Avation Academy, fostering future leaders in aviation.
The Philanthropic Endeavors of DeVos Family
As active philanthropists, the DeVos family has donated more than US$ 1.2 billion to numerous worthy causes, with recent annual donations touching nearly US$ 100 million. The donations are made through several family foundations, including the Richard and Helen DeVos Foundation, the Dick and Betsy De Vos Foundation, the Daniel and Pamella DeVos Foundation, the CDV5 Foundation, and the Douglas and Maria DeVos Foundation.
Betsy DeVos Net Worth
As of now, the DeVos family’s net worth is approximately $5 billion.
DeVos Family Yachts and the Westport Legacy
The DeVos family also possesses a strong interest in yachting, owning and having owned numerous boats, such as the Westport 164 yacht Legacy. Moreover, the Devos family is a prominent shareholder in the Westport yacht building company, further testifying to their nautical fascination.
Betsy DeVos as Secretary of Education
Betsy DeVos’s appointment as the 11th United States Secretary of Education by President Trump in February 2017 marked a significant milestone in her career. She tirelessly advocated for children and parents for nearly three decades, aiming to reform the public education system.
Betsy DeVos’s Resignation
On January 7, 2021, Betsy DeVos resigned as Secretary of Education, her decision influenced by the events surrounding the violence at the Capitol.
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