Bloomberg Billionaires Index

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#174 Charles Schwab $8.24B

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Schwab is the chairman of Charles Schwab Corp., a discount brokerage that holds about $3 trillion in client assets. He owns about 11 percent of the business, which provides financial services to individual investors, independent investment managers and retirement plans. The publicly traded company was founded by Schwab in 1971.

As of July 21, 2017:
Last change -$1.53M (-0.0%)
YTD change +$431M (+5.5%)
Industry Finance
Biggest asset SCHW US Equity
Citizenship United States
Age 79
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Charles Schwab's net worth of $8.24B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Schwab's fortune is derived from his 11 percent stake in Charles Schwab Corp., the discount brokerage he founded in 1971. The company holds $2.95 trillion in client assets as of April 30, 2017, according to its website. 

The billionaire owns his shares directly and through trusts and partnerships. He's also credited with shares held in his wife's name, to reflect his status as founder, and 1.9 million vested, in-the-money options, based on the company's latest proxy statement reflecting ownership of March 17, 2017 and a form 4 sale and gift filings since.

Since the company's initial public offering in 1987, the billionaire has collected almost $2.3 billion from share sales and dividends. The value of his cash investments is based on an analysis of his dividends, insider transactions, market performance, charitable giving and taxes.

Schwab was a director and shareholder of Yahoo, the company now known as Altaba. He stepped down from the board in February 2016 and no longer discloses his ownership. The share count used in this analysis reflect his holding when is was last disclosed on Dec. 31, 2015.

Schwab declined to comment on his net worth through a company spokesperson.


Birthdate: 7/29/1937
Family: Married, 5 children
Education: 1961, Stanford Graduate School of Business, MBA 1959, Stanford University, Economics, Bachelor's Degree

Born in 1937, Charles Schwab was 26 when he started an investment newsletter that would serve as the precursor to one of the largest financial service companies in the U.S. He founded First Commander Corp. in 1971, which took over publication of the newsletter and also began a securities brokerage. The company was renamed Charles Schwab & Co. two years later.

After the U.S. Securities and Exchange Commission deregulated parts of the brokerage industry, Schwab pioneered the discount brokerage business, eventually building the company's asset base to more than $1.5 trillion. He sold shares in a public offering in 1987.

Schwab and one of his five sons suffer from dyslexia. His charitable organization, the Charles Schwab Foundation, has been active in helping children with dyslexia and other neurological disorders.

  • 1937 Charles Schwab is born in Sacramento, California.
  • 1961 Earns an MBA from Stanford Graduate School of Business.
  • 1963 Begins writing a financial newsletter called Investment Indicator.
  • 1971 Starts the Charles Schwab Corp. as First Commander Corporation.
  • 1983 Schwab is acquired by Bank of America for $55 million.
  • 1986 Buys back Charles Schwab Corp. from Bank of America.
  • 1987 Sells shares in an initial public offering.
  • 2012 Client assets surpass $2 trillion.