Posted on 09/06/2018 11:37:30 AM PDT by billorites
Rich DeVos, a self-made billionaire who co-founded Amway and purchased the Orlando Magic in 1991, died Thursday in Ada, Mich., due to complications from an infection.
DeVos was 92 years old.
DeVos, who underwent a heart transplant in 1997 at the age of 71, attended some Magic home games during the 2017-18 season.
DeVos took over as the Magic’s owner when he purchased the franchise for $85 million from Orlando real estate developer William duPont III after duPont experienced financial difficulties.
Forbes recently estimated the Magic’s value at $1.225 billion, 19th out of 30 NBA teams. Forbes also approximated DeVos’ net worth at $5.4 billion, making him the world’s 351st wealthiest person, according to the magazine’s rankings.
In recent years, the DeVos family restructured its Magic ownership group through estate planning, Magic Chief Executive Officer Alex Martins said several years ago. The four children of Rich and Helen DeVos now own the largest stakes in the franchise, although ownership of the team also extends into other generations of the family, Martins said.
"Mr. DeVos' boundless generosity, inspirational leadership and infectious enthusiasm will always be remembered. Simply, he was the team's No. 1 cheerleader and the best owner that a Magic fan could ever want for their team,” Martins said in a statement released by the team Thursday. “When the DeVos Family purchased the Magic, his vision was that the team and organization would serve as a platform to improve the Central Florida community. That legacy will certainly live on, both in the Orlando Magic's community efforts and philanthropic contributions, as well as in the way we strive to play the game with passion, a strong work ethic and integrity, while also bringing people together from all walks of life."
Orlando Magic owner Rich DeVos died on September 6, 2018.
(Excerpt) Read more at orlandosentinel.com ...
My parents were in Amway when I was growing up. I remember getting to see Rich when they had a big Amway wingding back in the day.
Relative of Betsy?
She’s his daughter in-law.
Pretty long life lived for a heart transplant patient.
World War II Army Air Corps veteran.
RIP.
I’m sorry to see him go. A great American entrepreneur, and a conservative. He was a benefactor of the Heritage Foundation and of my alma mater. And I’ve done Amway in the past.
SA8 and LOC
Now that brings back memories.
My dad was Army Air Corp. Stationed at the mouth of the Amazon.
Yes, that’s true. Many people don’t realize this is how they got the bombers to Europe. US > Brazil > Africa > Europe.
And Amway products are still made in the USA. If you want to support the economy without supporting leftist causes, there you are.
RIP.
We live 15 minutes away. Hubby and I both worked there for many years, he retired. Daughter works there. If you ever got to hear him speak as he did to his employees every Christmas, he was a great man and truly full of grace and sharing it. RIP.
A billionaire and 92? No complaints, please.
He didn’t wait as long as he might have — went to France and bought a heart. Generally a heart transplant is a last resort, and the patient is near their end anyway. His Amway cofounder Jay Van Andel died in the past 15 years or so. That was nearly as big a VIP funeral as Gerald Ford’s was.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.