Early Life and Education
David Gilbert Booth was born in Lawrence, Kansas, where he also attended Lawrence High School. He earned a Bachelor of Arts in Economics in 1968 and a Master of Science in Business in 1969 from the University of Kansas. He then pursued an MBA at the University of Chicago Graduate School of Business, completing it in 1971. During his time at the University of Chicago, he was a research assistant to Eugene Fama, the Nobel laureate, which profoundly influenced his investment philosophy.
Rise to Success
Booth co-founded Dimensional Fund Advisors (DFA) in 1981. DFA quickly became a leader in applying academic research to investment strategies. Under Booth's leadership, DFA has grown into a global investment firm managing over $777 billion in assets, as of March 2026. He served as CEO and Co-CEO until 2017, when he transitioned to Chairman, remaining involved in strategic initiatives.
Key Business Strategies
Booth's investment approach with DFA is based on the efficient market hypothesis, eschewing stock picking and focusing on low-cost, passive mutual funds. DFA's strategies include factor investing, targeting areas of the market that research shows have higher expected returns. DFA's success is rooted in its commitment to rigorous academic research, a low-cost structure, and a focus on long-term investment results. DFA has 15 international offices.
Philanthropy
David Booth is also recognized for his extensive philanthropy, primarily focused on educational institutions and art initiatives. In 2008, he donated $300 million to the University of Chicago, and in 2025, he pledged $300 million to the University of Kansas. He also contributed $10 million to the University of Texas at Austin to build the Giant Magellan Telescope. In 2018, Booth signed the Giving Pledge, committing to donate at least half of his wealth to charity.
