Early Life and Education
David Gilbert Booth was born on December 2, 1946, in Lawrence, Kansas. He developed a deep connection to the University of Kansas (KU), where he spent his youth listening to football games on the radio. He earned a Bachelor of Arts in Economics in 1968 and a Master of Science in Business in 1969 from KU. Booth then pursued an MBA at the University of Chicago Graduate School of Business, completing it in 1971.
Rise to Success
Booth's career began in the 1970s when he helped create one of the world's first index funds at Wells Fargo. In 1981, he co-founded Dimensional Fund Advisors (DFA) with Rex Sinquefield. DFA was built on translating academic research into practical investment solutions, using the efficient market hypothesis and pioneering factor investing. Under Booth's leadership, DFA grew into a global investment manager managing $777 billion in assets. He served as CEO and Co-CEO until 2017, remaining actively involved as Chairman.
Key Business Strategies
Booth's investment approach at DFA focused on the application of the efficient market hypothesis. He eschewed stock picking and focused on offering investors low-cost, passive mutual funds. His strategy emphasized factor investing and applying academic research to real-world asset management.
Philanthropy
Booth is a dedicated philanthropist, with a strong emphasis on supporting educational institutions and the arts. He has donated to both the University of Kansas and the University of Chicago. Booth's significant contributions include a $300 million pledge to name the University of Chicago Graduate School of Business after him in 2008. He also donated $9 million to the Booth Family Hall of Athletics at the University of Kansas in 2004. Moreover, Booth and his wife, Suzanne Deal Booth, purchased James Naismith's original 13 basketball rules and donated them to the University of Kansas.
