Early Life and Education
David Gilbert Booth was born in Lawrence, Kansas, on December 2, 1946. He graduated from Lawrence High School and went on to earn a Bachelor of Arts in economics in 1968 and a Master of Science in business in 1969 from the University of Kansas. Booth continued his education at the University of Chicago Graduate School of Business, where he earned an MBA in 1971.
Rise to Success
Booth's career took off after leaving graduate school when he helped create one of the world's first index funds at Wells Fargo in the 1970s. In 1981, he co-founded Dimensional Fund Advisors (DFA) with Rex Sinquefield and Larry Klotz. Under Booth's leadership, DFA grew from a small business to a global investment manager. DFA is known for its systematic, evidence-based strategies and applying academic research to portfolio management.
Key Business Strategies
Booth's investment strategies were heavily influenced by the efficient-market hypothesis and focused on factor investing. He pioneered the use of financial science in everyday investing. Dimensional's approach incorporated research from academics like Eugene Fama and Kenneth French. Booth and DFA focused on delivering low-cost, thoughtfully constructed investment solutions.
Philanthropy
David Booth is also well-known for his philanthropy. He has supported educational institutions and art restoration projects. In 2008, he pledged $300 million to the University of Chicago Graduate School of Business, which was renamed the University of Chicago Booth School of Business. He also donated to the University of Kansas, including the David Booth Kansas Memorial Stadium and the Booth Family Hall of Athletics. Booth is a signatory to the Giving Pledge.
