Bloomberg Billionaires Index

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# 256 Charles Schwab $7.64B

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Schwab is the chairman of Charles Schwab Corp., a discount brokerage that has about $4.3 trillion in client assets. He owns almost 10% of the business, which provides financial services to individual investors, independent managers and retirement plans. The publicly traded company was founded by Schwab in 1971.

As of :
Last change +$27.0M ( +0.3%)
YTD change -$1.46B ( -16.0%)
Industry Finance
Biggest asset SCHW US Equity
Citizenship United States
Age 83
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Charles Schwab's net worth of $7.64B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Schwab's fortune is derived from his 9.6% stake in Charles Schwab Corp., the discount brokerage he founded in 1971. He owns the shares through trusts, partnerships and his spouse, according to a July 2020 Form 4 filing.

The company has $4.3 trillion in client assets as of July 30, 2020, according to its website. 

Since the company's initial public offering in 1987, Schwab has collected more than $2.8 billion from share sales and dividends, based on an analysis of Bloomberg data. The value of his cash investments is based on these proceeds as well as insider transactions, market performance, charitable giving and taxes.

Schwab declined to comment on his net worth through a company spokesperson.


Birthdate: 7/29/1937
Family: Married, 5 children
Education: Stanford University, Stanford Graduate School of Business

Born in 1937, Charles Schwab was 26 when he started an investment newsletter that would serve as the precursor to one of the largest financial service companies in the U.S. He founded First Commander Corp. in 1971, which took over publication of the newsletter and also began a securities brokerage. The company was renamed Charles Schwab & Co. two years later.

After the U.S. Securities and Exchange Commission deregulated parts of the brokerage industry, Schwab pioneered the discount brokerage business, eventually building the company's asset base to more than $1.5 trillion. He sold shares in a public offering in 1987.

Schwab and one of his five sons suffer from dyslexia. His charitable organization, the Charles Schwab Foundation, has been active in helping children with dyslexia and other neurological disorders.

  • 1937 Charles Schwab is born in Sacramento, California.
  • 1961 Earns an MBA from Stanford Graduate School of Business.
  • 1963 Begins writing a financial newsletter called Investment Indicator.
  • 1971 Starts the Charles Schwab Corp. as First Commander Corporation.
  • 1983 Schwab is acquired by Bank of America for $55 million.
  • 1986 Buys back Charles Schwab Corp. from Bank of America.
  • 1987 Sells shares in an initial public offering.
  • 2012 Client assets surpass $2 trillion.