Amway is an international powerhouse in the direct-selling industry, and its parent company is Alticor Inc. Alticor is owned by the Van Andel and DeVos families, two of the wealthiest families in the United States. Amway was founded in 1959 by Jay Van Andel and Richard DeVos, two cousins from Grand Rapids, Michigan. Alticor is a privately held company, and the ownership of the company is split between the Van Andel family and the DeVos family, who each own a 50% stake in the company.
The Van Andel family is headed by the late Jay Van Andel, who was the co-founder of Amway, and his son Steve Van Andel, who is the current chairman of the company. The family also includes Jay’s daughter, Mary, and his grandchildren, who are involved with the company in various capacities. The DeVos family is headed by Richard DeVos, the co-founder of Amway, and his son, Dick DeVos, who is the current CEO. The family also includes Richard’s daughter, Cheri DeVos, and his grandchildren, who are also involved with the company.
The Van Andel and DeVos families are both very wealthy, and they have a combined net worth of over $20 billion. The two families have been involved with Amway since the company’s inception, and they have been instrumental in the company’s growth and success. The families have used their wealth to make investments in a variety of industries, including real estate, technology, and medical research, and they have also donated money to various charitable organizations. In 2018, Amway had annual sales of over $8 billion, making it one of the largest direct-selling companies in the world.
Amway is a privately held company, and it is owned by the Van Andel and DeVos families. The two families have been instrumental in the company’s growth and success, and they have helped to make Amway one of the most successful direct-selling companies in the world. The families have used their wealth to make investments in a variety of industries, and they have also been generous donors to various charitable organizations. With annual sales of over $8 billion, Amway is one of the largest direct-selling companies in the world.
Exploring The DeVos Family’s Ownership Of Amway
The DeVos family has been an owner of Amway since 1975, when Rich DeVos and Jay Van Andel, the founders of the company, sold their controlling interest in the company to the DeVos family. The sale made the DeVos family one of the wealthiest families in the United States. The DeVos family, which is headed by Dick and Betsy DeVos, has since been the primary shareholders of the company, owning more than 90% of the company’s shares.
The DeVos family has used their ownership of Amway to help shape the company and its operations. Amway is an international business, with operations in more than 100 countries and sales of more than $11 billion annually. Under the leadership of the DeVos family, Amway has become one of the world’s largest direct selling companies. The company has also become a leader in the health, beauty, and nutrition industries, with thousands of products and brands in its portfolio.
The DeVos family has also been active in philanthropy. The family has contributed more than $2 billion to various causes, including education, healthcare, and the arts. The family has also supported a variety of political causes, including those related to school choice and religious freedom.
The DeVos family is also involved in the operations of Amway. Dick DeVos is the chairman and CEO of Amway, and his son-in-law, Steve Van Andel, is the company’s president. The DeVos family also controls the company’s board of directors, which is composed of family members and loyal business associates.
The DeVos family’s ownership of Amway has been beneficial to both the company and the family. Amway has become one of the most successful companies in the world, and the DeVos family has become one of the wealthiest and most influential families in the United States. The DeVos family’s ownership of Amway will continue to be an important part of the company’s success for years to come.
| Company | Cost |
|---|---|
| Amway | $11 billion annually |
Benefits of the DeVos Family’s Ownership of Amway:
- Leadership of a successful company
- Contribution to various causes
- Presence on the Board of Directors
- Powerful influence in the United States
Understanding The DeVos Family’s Interest In Amway
The DeVos family is one of the most prominent and powerful American families, with deep ties to the Amway Corporation. Founded in 1959 by Jay Van Andel and Richard DeVos, Sr., Amway is an direct selling company that uses independent distributors to market its products. From its humble beginnings, Amway has grown to become one of the world’s largest and most successful companies, with annual sales of more than $8 billion. The DeVos family has been a major investor in Amway since its inception, and members of the family have held key leadership positions in the company for decades.
For the DeVos family, their involvement in Amway is more than just a business investment. It is an opportunity for them to make a difference in the lives of people around the world. As active members of the Amway Board, the DeVos family has been instrumental in driving the company’s growth and expanding its reach into new markets. Through their leadership, they have helped to create a culture of innovation and success that has made Amway a global leader in the direct selling industry.
The DeVos family has also used their involvement in Amway to promote their philanthropic efforts. Over the years, the family has contributed both financial and volunteer resources to support education, community development, and global health programs. Through their involvement in Amway, they have helped to spur economic development in underserved communities, provide access to education for millions of people around the world, and support the fight against poverty.
The DeVos family’s connection to Amway dates back more than 60 years, and their commitment to the company and its mission has only grown stronger over time. The family’s dedication to helping others, and their belief in the power of entrepreneurship, have been inspiring to those who have had the opportunity to work with them. It is no wonder that the DeVos family’s interest in Amway has been so strong for so long.
Amway is owned by the DeVos family, who are based in Michigan, US.
Amway is headquartered in Ada, Michigan, United States.
Amway is a multi-level marketing company.
Yes, Amway operates in more than 100 countries.
Amway offers a variety of health, beauty, and home products.
Amway operates several subsidiaries, including Nutrilite, Artistry, and XL Energy Drink.
Amway reported revenue of more than $8.4 billion in 2019.
Amway has around 20,000 employees worldwide.
Amway was founded in 1959 by Rich DeVos and Jay Van Andel.
Amway has a global presence, with a presence in more than 100 countries.