The Richest in Trump’s Cabinet: Betsy DeVos Net Worth is a Massive $1.3B

Betsy DeVos, the American businesswoman, philanthropist and government official serving as the 11th and current United States Secretary of Education since 2017 is worth $1.3 billion.

Early Life

Elisabeth Dee DeVos was born in Holland, Michigan, U.S. She attended Holland Christian High School and also earned a Bachelor of Arts Degree in business economics from Calvin College in Grand Rapids, Michigan.

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Betsy DeVos is married to Richard Marvin “Dick” DeVos Jr, a multi-billionaire heir to the Amway fortune. The couple has four children.

Career

Political

DeVos was involved in college politics. Since 1982, DeVos participated in the Michigan Republican Party. Initially, she served as a local precinct delegate for the Michigan Republican Party, for 16 consecutive two-year terms. She then served as a Republican National Committeewoman for five years and also served as a chairwoman of the Michigan Republican National Committeewoman for Michigan between 1992 and 1997.

During the Bush Administration, DeVos served for two years as the finance chairperson for the National Republican Senatorial Committee and worked on various projects.

On November 2016, then-President-elect Donald Trump announced the nomination of DeVos to serve as Secretary of Education in his administration which was confirmed in February 2017, with Vice President Mike Pence breaking the tie in favour of DeVos’ nomination.

Business

DeVos is also a successful businesswoman. She is the chairperson of the Windquest Group, a privately held operating group that invests in technology, manufacturing and clean energy.

She is also a chief investor in and board member of Neurocore, a group of brain performance centres offering biofeedback therapy for disorders such as depression, attention deficit disorder, autism and anxiety.

Betsy DeVos Net Worth

Betsy DeVos was born into one of the wealthiest families, and her husband is also one of the wealthiest personalities. She is also the wealthiest member of President Trump’s Cabinet. DeVos has a net worth of over $1.3 billion.

House, Private Jets and Yachts

The DeVos family owns several residences. They currently reside in a massive 22,000 sq. ft. The mansion was built for $10 million. They also have three homes in Michigan and three other residences in Windsor, Florida.

DeVos owns a fleet of 12 private jets- 1 Boeing Business Jet, 5 Gulfstream G550’s, 1 Gulfstream G450, 2 Bombardier Challenger 350’s, 3 Cessna Citation CJ4’s and four helicopters.

She also owns a luxury yacht “Scheduler”.

Philanthropy

DeVos is also famous for her philanthropic activities. She and her husband launched “The Dick & Becky DeVos Foundation” in 1989. The foundation supports various causes including education, community, arts, justice and leadership. By 2015, the foundation had contributed around $139 million.

The Foundation supports over 100 organisations, and some of them are Foundation supports include Center For Individual Rights, Action Institute, Institute For Justice, Center For Individual Rights, Michigan’s Pregnancy Resource Center, Right to Life Michigan Educational Fund and Baptists for Life.

The DeVos family was ranked No. 24 by Forbes in 2015 in the list of America’s Top Givers.

DeVos donated around $431,000 to Mars Hill Bible Church and $453,349 to Flannel, producer of NOOMA video series.

DeVos served on the board of directors of the Kennedy Center for the Performing arts from 2004 to 2010, during which she and her husband donated $22.5 million to continue the endeavour.

Education

She served as the chairwoman of the board of Alliance for School Choice, where she promoted school vouchers, tax credits to businesses that give private school scholarships and candidates who support these causes. She also headed All Children Matter.

She was the chair of the American Federation for Children (AFC), which describes itself as “a leading national advocacy organisation promoting school choice, with a specific focus on advocating for school vouchers and scholarship tax credit programs”.

She also served on the boards of Children First America and American Education Reform Council, which sought to expand school choice through vouchers and tax credits. She has been an advocate for the Detroit charter school system.

The DeVoses also established an annual scholarship, called the Betsy and Dick DeVos Scholars for Free Enterprise and Entrepreneurship Scholarship, which is awarded to students earning a BBA or combined BBA/MBA at Northwood University.

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DeVos serves as the member of the board of the Foundation for Excellence in Education, a think tank whose goal is to build an American Education system that equips every child to achieve his or her God-given potential.

Conclusion

Although Betsy DeVos was born in one of the wealthiest families in Michigan and is the wife of a multi-billionaire, she has created her fortune. DeVos, who is currently serving as the United States Secretary of Education has brought many reforms in education and has supported various programs including School choice, school voucher programs and charter school.

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