Born as Elisabeth Dee DeVos on January 8, 1958, in Michigan, US, Betsy emerged from a family with notable influence. The eldest child of billionaire industrialist Edgar Prince and Elsa Zwiep, she grew up witnessing the growth of Prince Corporation, a testament to her father’s industrious spirit.
Her academic journey at Calvin College in Michigan was not only marked by a BA in Business Economics but also her foray into campus politics. It’s here that her political aspirations were kindled, evident from her involvement in the 1976 Republican National Convention’s program for young, budding Republicans.
In 1979, she united with Richard Marvin “Dick” DeVos Jr. in matrimony. Dick, an heir to the multi-billion-dollar company Amway, later ran its parent company, Alticor. Together, they parented four children – Rick, Elissa, Andrea, and Ryan. Erik Prince, the founder of Blackwater USA, a renowned private military services contractor, is Betsy’s brother.
Biography Table
| Attribute | Details |
|---|---|
| Full Name | Elisabeth Prince DeVos |
| Date of Birth | January 8, 1958 |
| Birthplace | Holland, Michigan |
| Education | BA in Business Economics, Calvin College |
| Notable Roles | US Secretary of Education (2017-2021) |
| Chair of the Michigan Republican Party | |
| Net Worth | $2 billion |
| Spouse | Dick DeVos |
| Children | Rick, Elissa, Andrea, Ryan |
Betsy’s political journey commenced in earnest in 1982 when she joined the Michigan Republican Party. Her association saw her donning various caps, from being its precinct delegate to its Chairwoman, spanning almost two decades. Her fundraising prowess became evident during the Bush re-election campaign in 2004, and she continued to be an active political voice, even hosting a fundraiser for the Republican Party in 2008.
Interestingly, despite her initial reservations about Trump, terming him as an ‘interloper’, Trump recognized her potential and nominated her for the Secretary of Education in 2016. This nomination was met with mixed reactions. Some lauded it as an excellent choice, while others expressed concerns about her being anti-public education.
The ensuing confirmation hearing became a hotbed of controversies, with DeVos’s statements on various educational topics becoming fodder for comedians. Nevertheless, by February 2017, DeVos had sworn in as the Secretary of Education, though not without dissent from some quarters.
DeVos’s time as the Secretary of Education was filled with challenges. She endorsed policies that many perceived as detrimental to public education. Legal battles emerged as she redirected COVID-19 relief funds meant for public schools to private and religious institutions.
Additionally, her urging for schools to reopen amidst the pandemic drew criticism. Following the US Capitol attack in 2021, DeVos resigned, citing the influence of Trump’s rhetoric on the events.
Business Ventures & Philanthropic Pursuits
Parallel to her political endeavors, Betsy has been a formidable businesswoman. Co-founding the Windquest Group in 1989 with her husband, she has steered its direction as its Chairwoman.
Venturing into the arts, she produced a Broadway show in 2012, though it met with a lukewarm response. Her association with Neurocore, a chain of brain performance centers, has been significant, though she had to relinquish her board member role after her Secretary of Education appointment.
Her philanthropic spirit found an avenue in 1989 when she established The Dick & Betsy DeVos Foundation. Targeting diverse sectors, from hospitals to art organizations, the foundation’s work is extensive.
Betsy’s passion for education is reflected in her scholarship initiatives at Northwood University and her consistent advocacy for school vouchers, a testament to her belief in fostering educational choices.
Net Worth
Precise details of Betsy DeVos’s net worth might be elusive, but collectively, the DeVos family’s wealth is estimated at a staggering $2.0 billion. Betsy’s tenure as the Secretary of Education significantly contributes to this. With assets like a sprawling 22,000 sq. ft. mansion in Holland, Michigan, and an impressive fleet of approximately 10 yachts, the DeVos family’s affluence is undeniable.
While details on further assets remain under wraps, it’s evident that Betsy DeVos, with her multifaceted career and vast influence, remains a figure of significant interest in the spheres of politics, business, and philanthropy.
Origins of Wealth
Betsy’s impressive wealth stems primarily from two significant sources:
- Prince Corporation: Founded by her father, Edgar Prince, this automotive parts company saw remarkable success, particularly from the patented sun visor with an integrated mirror. By the mid-1990s, they produced 20,000 sun visors daily. This venture was later sold to Johnson Controls in 1996 for $1.3 billion. Additionally, her brother, Erik Prince, established the private military firm Blackwater USA.
- Amway: Richard DeVos Sr., father-in-law to Betsy, laid the foundations for this multi-billion-dollar empire. At his passing in 2018, he had accumulated a net worth of $6 billion.
