Best Buy’s founder Richard Schulze is company’s largest shareholder, holding 20.1% of shares. Schulze plans to invest roughly $1 billion of his own money, along with funds from private equity firms to overhaul and fix the retail giant, as they have had a rough transition since the spark of the online electronics market. BBY is estimated to have a value of $8.5 billion when the buyout takes place.
Schulze established the company in 1966 and served as CEO until 2002 and remained Chairman of the Board until June of this year.
David Cornes holds a degree in economics from the University of Montana.
