Charles Schwab’s profile picture

Charles Schwab

Chairman and Founder, Charles Schwab
Charles Schwab’s profile picture
Net worth 2018: $10.06 Billion
Industry: Investments
Country: United States
BirthDay: 29 July 1937
Sigh: Leo
Children: 5
Education: Bachelor of Arts / Science, Stanford University; Master of Business Administration, Stanford Graduate School of Business
BIOGRAPHY

Charles Schwab was bornon 29 July 1937 in United States, is Chairman and Founder, Charles Schwab. Charles Schwab is #165 in List Billionaires People In The World. Charles "Chuck" Schwab stepped down as the CEO of his eponymous brokerage firm in 2008. Schwab remains the executive chairman and largest shareholder with an 11% stake. He founded the discount brokerage firm in 1971 as a traditional brick-and-mortar brokerage; it now has $2.92 trillion in assets. It wasn't until a federal deregulation of brokerage commissions in 1975 that the firm really took off. He started charging half of what full-service brokers were by cutting all but the basics.

NET WORTH STATISTIC
2009

$4.7 Billion

2010

$3.7 Billion

2011

$3.5 Billion

2012

$3.7 Billion

2013

$5.1 Billion

2014

$6.5 Billion

2015

$6.4 Billion

2016

$6.6 Billion

2017

$8.3 Billion

2018

$10.06 Billion

TIMELINE
2014

In 2014, Schwab denounced the rise from 50,000 to 300,000 per second in the number of trade inquiries from 2007 to 2013

2013

In 2013 it reported assets of $270 million and made $13 million in grants

2008

He retired as CEO in 2008, but remains chairman and is the largest shareholder

2005

The company rebounded, and earnings began to turn around in 2005, as did the stock

2004

Just a year later, on July 24, 2004, the company's board fired Pottruck, replacing him with Schwab

2003

The application for the Bank was approved on February 2003 by the Office of the Comptroller of the Currency (“OCC”)

2000

In 2000 Schwab introduced mobile/wireless trading with its PocketBroker mobile app that functioned on RIM (BlackBerry), Palm, Windows CE, and WAP-enabled phones, with deployments in the USA, UK, and Hong Kong

1998

Pottruck, who had spent the majority of his 20 years at the brokerage as Schwab's right-hand man, shared the CEO title with Schwab from 1998 to 2003

1996

Schwab responded in 1996 by becoming the first major financial services firm to sell online listed and over-the-counter stocks, as well as mutual funds and bonds

1995

By 1995 the company was by far the largest discount broker, with revenue of $1

1990

The emergence of the World Wide Web in the mid 1990s posed a new threat with new startups trying to exploit their software

1988

In 1988, however, the company was forced to rebate 2 million dollars to customers whose funds had been illegally used

1987

The Charles and Helen Schwab Foundation was formed in 1987

1986

6 million customers in 1986, with sales of $308 million

1984

In 1984, the firm innovated with the Mutual Funds Marketplace, which gave customers a choice of 140 no-load funds

1982

In 1982, Schwab became the first firm to offer 24/7 order entry and quote service

1981

In 1981 Schwab became a member of the NYSE, and the total of client accounts grew to 222,000

1980

In 1980 Schwab established the industry’s first 24-hour quotation service, and the total of client accounts grew to 147,000

1978

By 1978, the company had 45,000 client accounts total, and the number grew to 84,000 in 1979

1976

2 billion, making him 76th richest man on the Forbes 400

1975

In September 1975, Schwab opened its first branch in Sacramento, California

1973

In 1973, First Commander changed its name to Charles Schwab & Co

1972

In 1972, Schwab bought all the stock from what was once Commander Industries

1971

In April 1971, the firm incorporated in California as First Commander Corporation, a wholly owned subsidiary of Commander Industries, Inc

1961

In 1961, he graduated from Stanford Graduate School of Business with an MBA

1959

Schwab graduated from Stanford University in 1959 with a B

1937

Charles Robert Schwab (born July 29, 1937) is an American investor, financial executive, and philanthropist

(4.4/118 votes)
Related Person
Albert Frere’s profile picture
Albert Frere
Net Worth is $6.28 Billion
Charles Johnson’s profile picture
Charles Johnson
Net Worth is $5.7 Billion
George Roberts’s profile picture
George Roberts
Net Worth is $5.46 Billion
Henry Kravis’s profile picture
Henry Kravis
Net Worth is $5.4 Billion
Bruce Kovner’s profile picture
Bruce Kovner
Net Worth is $5.24 Billion
Israel Englander’s profile picture
Israel Englander
Net Worth is $5.2 Billion