Amway and the Core DeVos Business Empire
The DeVos family built its primary wealth through Amway, the multi-level marketing company co-founded by Richard DeVos. Forbes lists Amway as one of the largest privately held companies in the United States, operating in over 190 countries. The company sells health, beauty, and home care products through a network of independent distributors. Rich DeVos Sr. and Jay Van Andel launched the business in 1959, and it remains controlled by the DeVos family through private holding structures. Amway's global revenue has consistently ranked in the billions, making it the family's foundational enterprise.
Amway's Global Structure and Ownership
Amway operates as a privately held company, with the DeVos family maintaining direct ownership through entities like Alticor Inc. The family's leadership roles have shifted across generations, with Doug DeVos serving as president of Amway's parent entity. The company's business model relies on direct selling, bypassing traditional retail channels. Amway's international operations are managed through affiliated entities in key markets across Asia, Europe, and Latin America. The family's control of Amway represents the central pillar of the DeVos business portfolio.
Orlando Magic and Sports Investments
The DeVos family owns the Orlando Magic, an NBA franchise based in Florida. The Orlando Magic's official site confirms the DeVos family's ownership through DeVos Sports & Entertainment. Richard DeVos Jr. led the purchase of the team in 1991, and the family has managed the franchise for over three decades. The Magic play their home games at the Kia Center in Orlando, Florida. The team has made multiple playoff appearances under the DeVos ownership, establishing a consistent presence in the Eastern Conference.
Other Sports and Entertainment Holdings
Beyond the Orlando Magic, the DeVos family has held interests in other sports properties. The family previously owned the Grand Rapids Rampage, an Arena Football League team, and has invested in minor league and youth sports development. DeVos Sports & Entertainment also manages event operations and venue partnerships in the Orlando area. The family's sports investments function as a diversification layer within their broader business strategy. These holdings reinforce the DeVos family's visibility in the sports and entertainment sector.
Aviation, Real Estate, and Diversified Holdings
The DeVos family maintains significant investments in aviation through the Delta Air Lines connection. SEC filings and financial disclosures show the DeVos family's historical stake in Delta Air Lines, which originated from the Amway Corporation's early investments. The family's aviation interests have evolved into a broader portfolio of private and commercial aviation assets. The DeVos family also controls extensive real estate holdings through private investment entities across Michigan and other states. These real estate assets include commercial properties, residential developments, and land holdings managed by family-controlled trusts.
Net Worth and Forbes Rankings
The DeVos family's combined net worth has been ranked by Forbes among the wealthiest families in the United States. Forbes' real-time billionaire rankings place the DeVos family's fortune in the billions, driven primarily by Amway's global sales and the Orlando Magic's valuation. The family's investment strategy emphasizes private ownership, long-term asset appreciation, and controlled growth across multiple industries. Their portfolio spans consumer products, sports franchises, aviation, and real estate, creating a diversified wealth structure. The DeVos family continues to expand their business interests through private equity and strategic acquisitions.