Richard Marvin DeVos Jr. ( də-VOSS; born October 21, 1955) is an American businessman, author, and former politician. The son of Amway co-founder Richard DeVos, he was CEO of the multi-level marketing company from 1993 to 2002. In 2006, DeVos ran for Governor of Michigan but lost to the then-incumbent Democrat Jennifer Granholm. In 2012, Forbes magazine listed his father as the No. 351 richest person in the world, with a net worth of approximately US$5.4 billion. DeVos is the husband of Betsy DeVos, the former United States Secretary of Education in the first Trump administration.
DeVos was born in Grand Rapids, Michigan, the son of Helen June (Van Wesep) and Richard Marvin DeVos. His grandparents were Dutch immigrants. DeVos is a graduate of the Forest Hills public school system.
He was involved in the family business, Amway, even as a child. "I still remember when it was in the basement of our home when I was growing up," he later said. "I remember the offices being down there and people working down there." As boys, he and his brother Doug were "tapped as mini-hosts", assigned to greet attendees at Amway's annual conventions, and they "helped out with everything from clearing plates during gatherings to ferrying guests to play tennis or waterski. That evolved to speaking in front of groups and even giving product demonstrations." DeVos later said that "It was kind of like a Junior Achievement atmosphere contained inside of Amway. ... We just hung around the company. It was your social activity."
DeVos received a bachelor's degree in business administration from Northwood University. He later paid to attend, but did not complete, the Harvard Business School and the Wharton School's Executive Study Programs. DeVos has received honorary doctorates from Grove City College, Central Michigan University and Northwood University, as well as distinguished alumni recognition from Northwood University.
His wife, Betsy DeVos, is the former chairperson of the Michigan Republican Party and the former Secretary of Education under President Donald Trump. She is the daughter of billionaire industrialist Edgar Prince, and sister of Blackwater USA founder Erik Prince.
DeVos began working with Amway Corporation in 1974, holding positions in various divisions, including research and development, manufacturing, marketing, sales, and finance. In 1984, he became one of Amway's vice presidents, with overall responsibility for the company's operations in 18 countries. Under his leadership, the company opened numerous new markets and tripled foreign sales to exceed domestic sales for the first time in company history.
According to one source, "When Dick DeVos became vice president of Amway's foreign operation in 1986, sales outside of the U.S. accounted for about 5 percent of overall sales. When he left the position six years later, they had grown to 50 percent of annual sales."
When the DeVos family acquired the National Basketball Association's Orlando Magic basketball franchise in 1991, DeVos's father, Richard DeVos became president and CEO of the team. On October 21, 2005, it was announced that DeVos would become part owner as his father split ownership evenly between his children.
Larry Guest of the Orlando Sentinel wrote in a September 1991 column that "civic and business leaders in Grand Rapids" considered DeVos "admirable, amicable, compassionate, honorable, community-conscious, intelligent", but that they wondered whether DeVos, who was about to begin running the Orlando Magic, was "strong enough...to make the tough decisions necessary as the chief operating officer overseeing... an NBA franchise?" Guest answered yes, calling DeVos "a business and political specialist experienced far beyond his 35 years on this globe" and noting that he had "recently attracted more than a million votes, more than any other Republican on a statewide basis, to win a seat on Michigan's Board of Education." Guest quoted DeVos as saying that in making business decisions, he hopes "to be seen as tough, but also fair.... I'm not a control-oriented individual, but I expect results and I expect meticulous, detailed management."
DeVos left his positions as president and CEO of the Orlando Magic in January 1993 to rejoin Amway as its president, succeeding his father, Amway co-founder Rich DeVos. Under Dick Devos, the firm expanded operations to more than 50 countries and territories on six continents.
In 2000, DeVos oversaw a significant corporate restructuring that created Alticor, the new parent company of predecessor Amway, as well as other subsidiary companies. In a 20-month span, Alticor cut over 1,300 jobs (primarily in Michigan) during this restructuring, with 400 of them being buyouts and early retirement.
Job cuts were one of several cut backs made during the corporate restructuring of Amway in order to expedite the return to profitability and prevent further downsizing or the possible loss of the company.
DeVos and his brother, Doug DeVos, are "credited with taking the company global, and setting industry standards as they moved into those markets."
DeVos retired as president of Alticor in August 2002. In that fiscal year, Alticor reported sales of $4.5 billion, primarily through its more than 3.5 million part-time sales force and its complementary e-commerce channel. After retiring from Alticor, DeVos returned to become president of The Windquest Group.
The Windquest Group is a privately held investment management firm with holdings in technology, manufacturing, and other sectors.
A 2010 article reported on a Windquest venture called The Green Machine, which "converts waste heat that's the byproduct of a manufacturing process – in liquid or gaseous form – into electricity."
DeVos explained that "Some time ago Windquest brought on a specialist in alternative energy. ... We knew this was going to be an important part of our future, but also an opportunity." He explained that sustainability is "not just an environmental concept, it's also an economic one. If a particular business approach is not economically viable it will not be sustainable." Windquest was not interested in "glitzy and glamorous" ideas, he said, but in "technologies that were environmentally sound and economically sustainable" and thus more likely to be widely adopted. He expressed concern "that some of the new products in the marketplace are either too dependent on tax incentives or subsidies" and not genuinely "viable and ...competitive".
The Green Machine is produced by the ElectraTherm Company and distributed by Windquest in collaboration with Pro Services. "It's a three-legged stool", DeVos explained. "ElectraTherm provides the core technology, Pro Services provides the installation ability and the knowledge of the customers' needs and Windquest then provides both financing and high-level business acumen."