Edward Stack Net Worth $11 Billion
Based on Forbes, the newest billionaire is the 408th wealthiest individual in the United States and 1268th in the World Billionaires list. Mr. Stack has made his estimated net worth of $1.1 billion from the freely traded Dick’s Sporting Goods chain. It was founded by his father, Richard Stack, in 1948 as a fishing bait store in Binghamton, New York using $300 of his mother’s savings. He is the biggest individual shareholder in the company with %15 stake while his ex-wife also owns some shares. He was also on the Board of Directors of Keycorp between March 2010 and September 16, 2011. In 1984, Edward W. Stack bought the two stores which his father has possessed and enlarged. As the Chairman and CEO of the family business, he took the company public in 2002. Now, the retailer chain has 500 places in 44 states. It’s but one of the biggest gun retailers in the country. Nonetheless, after the December 2012 mass school shooting in Newton, Connecticut, the stores suspended the sale of high-powered rifles.