Dick DeVos Reveals the Family’s Philanthropic Contribution

In November 2016, President Elect Donald Trump nominated Betsy DeVos to the position of Secretary of Education. After the nomination, it was mandatory for Betsy and her husband to provide information on their philanthropic work.

 

Instead of sharing the information with the panel, the couple decided to share the information with the public. Their decision to reveal the information was criticized by most of the public officials. They commented that it was a tactic to have the people turn a blind eye to their political contributions.

 

In the report, the couple has contributed $139 million in their lifetime. The report also indicated that Dick and Betsy donated $11.5 million in 2015. Most of the couple’s contribution has been done in support of the education system.

 

Dick and Betsy DeVos charity giving was paved for them by their parents. The couple comes from wealthy families who have made significant contributions. The DeVos Family has contributed $1.2 billion in their lifetime.

 

Philanthropic work

 

The Dick and Betsy DeVos Family Foundation, established in 1989 and through the organization, the couple has managed to support different causes. Some of the beneficiaries include Kids USA, West Michigan Academy, and Education Freedom Fund among others. Through the Foundation, Dick and his wife have been supporting the ArtPrize Competition.

 

The couple supports students from developing countries pursuing their business degrees.

 

Employment

 

Dick DeVos joined the family business Amway in 1974. He was in charge of different departments like finance, research, development, and marketing. After ten years, Dick was promoted to the Vice President of the Company. He was put in charge of the Company’s operations in 18 countries.

 

In 1991, Richard DeVos Sr. acquired Orlando Magic. Dick served as the president of the Company for a short period. He, however, left the Orlando Magic to assume his position as the President of the Amway. During his tenure at Amway, Dick was involved in the restructuring of the Company, and that was when Alticor was born.

 

Dick left the Alticor to join Windquest. By the time he was leaving Amway, Dick has managed to increase the revenue of the Company to $4.5 billion. Dick DeVos served as the President of Windquest Group. Windquest is an investment firm that deals with technology and manufacturing.

 

Political involvement

 

In 1990, Dick was elected to the Michigan State Board of Education. Dick, however, resigned from the position, two years into his Eight-year term. He resigned to join Amway as its President. Dick was appointed to the Grand Valley University Board Control in 1996.

 

In 2006, Dick participated in the Michigan Gubernatorial race. He lost the race, but he remains to be the richest man to ever participate in the race.

 

AXA: A Global Leader With International Exposure

French multinational insurance company, AXA focuses on worldwide investment administration, financial services as well as philanthropic activities.

AXA, which was launched in 1816 as Mutuelle de L’assurance contre L’incendie, is the second largest insurance group in France and the 30th largest in the world.

The global insurance company, located in Paris, functions in Western Europe, North America, Asia Pacific, the Middle East and also has an existence in Africa.

AXA’s financial experts make strategies and products available for monetary security and investments as well as asset distribution, retirement, estate planning and more.

The registered trademark of AXA Financial Services LLC, AXA and its companies include AXA Financial Services, MONY (Mutual of New York) Life Insurance Company of America, AXA Advisors and AXA Distributors.

The worldwide business of independently run firms function in a way that is consistent with the laws and regulations of the many different countries.

The company’s charitable measures include AXA Hearts in action which focuses on environmental durability; disaster awareness; health and disease prevention as well as financial education and the AXA Research Fund which provides support for research projects in the risks regarding human life and the environment in countries around the world.

AXA also offers a Matching Gifts program that encourages its employees as they support their communities while the AXA Achievement program works with students, parents and educators on college measures.

In 1991, AXA acquired majority control of The Equitable Life Insurance Company and changed its name to AXA Equitable Insurance.

At AXA Equitable Insurance, Vincent Parascandola served as president of The Advantage Group. He also co-managed the company’s New York Metro branch.

As AXA Advisors senior executive vice president, Parascandola takes on the task of signing up and instructing new advisors to the company as well as overall sales growth.

With his more than twenty five years industry experience, Parascandola began his career with Prudential in 1987 and was named National Rookie of the Year.

Parascandola is also a well-respected and preferred speaker. He received his Bachelor of Science degree from Pace University.