Shelby M.C. Davis

Last updated
Shelby Moore Cullom Davis
Shelby M.C. Davis.jpg
Personal details
Born U.S.
SpouseGale Davis
OccupationBusinessman, investor, philanthropist

Shelby Moore Cullom Davis (born 1937 [1] ) is an American philanthropist and retired investor and money manager.

Contents

Davis is the son of money manager Shelby Cullom Davis [2] and Kathryn Wasserman Davis. [3] He is a graduate of Princeton University [4] and began his career at The Bank of New York, [5] where he became the bank's youngest vice president since Alexander Hamilton. [6] [7]

Davis left BNY in 1968 to found an investment management firm that eventually became Davis Selected Advisers, [8] [9] which as of 2021 manages about $37 billion in several funds. [10]

All the Davis funds invest in public equities and have been described as "value stock" funds. Shelby Davis's reputation with such stocks was such that he was called a "legendary fund manager" by the New York Times, [11] a "legend" by Money magazine, [12] "legendary" by Financial Advisor magazine, [13] and a "legendary investor" by Kiplinger's Personal Finance magazine. [7]

Davis is currently married to his second wife, Gale. [5] His first wife, Wendy A. Adams, was the daughter of Boston Bruins Chairman Weston Adams. [4] Davis served for a time as Vice President of the Bruins, and as a result of the team's championship win in 1972, his name is engraved on the Stanley Cup. [14]

In 2012, John Rothchild published a profile of Davis, his father, and his sons, called "The Davis Dynasty: Fifty Years of Successful Investing on Wall Street". [15]

Philanthropy

Shelby Davis is noted as an extraordinarily generous philanthropist, especially to educational causes. [16] Among the most significant recipients of his philanthropy are the United World College movement and his own alma mater, Princeton University, [17] of which he served as trustee starting in 2006, [18] and was one of the most generous donors to the university while on the board. [19] His backing of the United World Colleges included his paying for the restoration of the Montezuma Castle on the U.S. campus. [20] [21] He has further supported these schools through the Davis United World College Scholars Program, the Davis-UWC IMPACT Challenge and the Davis-UWC Dare to Dream Program, [22] Though the Davis United World College Scholars Program, Davis has provided scholarships for over 10,000 students at colleges and universities around the world. [23] [24] [25] [26] [27] [28] [29] [30] [31] [8] [32]

Davis and his wife also support environmental and regional charities, including in Maine, Wyoming, Florida, and Utah. [6]

Davis explained his philanthropic efforts by saying "I believe education creates possibilities. It’s always about young people and their futures, and we all realize that with education, young people have more possibilities than without it. I am investing in UWC students, in particular, because I believe they are getting a special brand of education at UWC schools. They tell me this, over and over in their letters and when I meet them. Their teachers and professors tell me this, too." [33]

Related Research Articles

United World Colleges (UWC) is an international network of schools and educational programmes with the shared aim of "making education a force to unite people, nations and cultures for peace and a sustainable future." The organization was founded on the principles of German educator Kurt Hahn in 1962 to promote intercultural understanding.

<span class="mw-page-title-main">Pearson College UWC</span> School in Metchosin, Victoria, British Columbia, Canada

Lester B. Pearson United World College of the Pacific is one of eighteen schools and colleges around the world in the United World Colleges movement, located on Vancouver Island, Canada. It is named after the late Canadian Prime Minister Lester Bowles Pearson, winner of the 1957 Nobel Peace Prize, and an early champion of the college. The mission of the UWC movement and of the school is to "make education a force to unite people, nations and cultures for peace and a sustainable future".

UWC Atlantic is an independent boarding school in the Vale of Glamorgan in south Wales. Founded in 1962, it was the first of the United World Colleges and was among the first educational institutions in the world to follow an international curriculum; it helped create the International Baccalaureate Diploma Programme in the 1960s.

Sir John Marks Templeton was an American-born British investor, banker, fund manager, and philanthropist. In 1954, he entered the mutual fund market and created the Templeton Growth Fund, which averaged growth over 15% per year for 38 years. A pioneer of emerging market investing in the 1960s, Money magazine named him "arguably the greatest global stock picker of the century" in 1999.

<span class="mw-page-title-main">UWC Red Cross Nordic</span> School in Norway

The school UWC Red Cross Nordic, formerly known as Red Cross Nordic United World College, was founded in 1995, located in Norway. It is the ninth member of the today 18 United World Colleges, others having been established in Wales, Canada, Hong Kong, Italy, India, Singapore, Swaziland, United States, Costa Rica, the Netherlands, Bosnia & Herzegovina, Germany, Armenia, China, Thailand, Japan, and Tanzania. Patrons of the college and the movement include Nelson Mandela, Queen Noor of Jordan and Queen Sonja of Norway. The first college, UWC Atlantic College, was established by the German educationalist Kurt Hahn to promote international understanding and peace. Students are selected by UWC National Committees or selection contacts in over 150 countries on merit and many receive full scholarships. After the two-year education following the guidelines of the International Baccalaureate Diploma Program students usually go on to higher education. UWC students are eligible to participate in the Shelby Davis Scholarship program, which funds undergraduate studies for UWC students at many US universities. The school is led by the Rektor, Pelham Lindfield Roberts, Deputy Rektor, Natasha Lambert and the Board of Governors, currently chaired by Elizabeth Sellevold.

Peter Lynch is an American investor, mutual fund manager, author and philanthropist. As the manager of the Magellan Fund at Fidelity Investments between 1977 and 1990, Lynch averaged a 29.2% annual return, consistently more than double the S&P 500 stock market index and making it the best-performing mutual fund in the world. During his 13-year tenure, assets under management increased from US$18 million to $14 billion.

<span class="mw-page-title-main">United World College of the Adriatic</span> An International Baccalaureate program at the United World Colleges in Italy

The United World College of the Adriatic is an international school in Italy, and a member of the United World Colleges, a global educational movement that brings together students from all over the world with the aim to foster peace and international understanding. The college is attended by around 180 students aged between 16 and 19, from around 80 countries, who live at the college for two years and study for the International Baccalaureate Diploma Programme.

Leon Levy was an American investor, mutual fund manager, and philanthropist. At his death, Forbes magazine called him “a Wall Street investment genius,” who helped create both mutual funds and hedge funds.

<span class="mw-page-title-main">Carnegie Corporation of New York</span> American philanthropic fund

The Carnegie Corporation of New York is a philanthropic fund established by Andrew Carnegie in 1911 to support education programs across the United States, and later the world.

<span class="mw-page-title-main">Armand Hammer United World College of the American West</span> Independent coed, boarding school in Montezuma, New Mexico, U.S.

UWC-USA is a United World College school in San Miguel County, New Mexico, United States. It was founded in 1982 by businessman Armand Hammer. UWC-USA is a two-year, independent, co-educational boarding school accredited by the Independent Schools Association of the Southwest.

<span class="mw-page-title-main">Victor Niederhoffer</span> American hedge fund manager

Victor Niederhoffer is an American hedge fund manager, champion squash player, bestselling author and statistician.

<span class="mw-page-title-main">Jim Simons (mathematician)</span> American mathematician and billionaire

James Harris Simons is an American hedge fund manager, investor, mathematician, and philanthropist. He is the founder of Renaissance Technologies, a quantitative hedge fund based in East Setauket, New York. He and his fund are known to be quantitative investors, using mathematical models and algorithms to make investment gains from market inefficiencies. Due to the long-term aggregate investment returns of Renaissance and its Medallion Fund, Simons is described as the "greatest investor on Wall Street", and more specifically "the most successful hedge fund manager of all time".

<span class="mw-page-title-main">Montezuma Castle (hotel)</span> United States historic place

The Montezuma Castle is a 90,000-square-foot (8,400 m2), 400 room Queen Anne style hotel building erected just northwest of the city of Las Vegas, New Mexico in 1886. The current castle is actually the third on the site, the first two were the first buildings in New Mexico to have electric lighting, and they both burned down.

<span class="mw-page-title-main">College of Insurance</span> American specialized college

The College of Insurance (TCI) was a specialized accredited college, started by insurance industry leaders in 1901 as an insurance library society, the Insurance Society of New York (ISNY). The Insurance Society of New York initially provided study space and material to young people entering the insurance industry, and served as a site for insurance lectures. Over the years, ISNY developed a curriculum based upon these lectures. The curriculum ultimately led to the creation of The School of Insurance, followed by The College of Insurance.

The Davis United World College Scholars Program is the world’s largest privately funded international scholarship program. It awards need-based scholarship funding, aka the Shelby Davis Scholarship, to graduates of schools and colleges in the United World Colleges (UWC) movement to study at 94 select partner universities in the United States.

Shelby Cullom Davis was an American businessman, investor, and philanthropist from the state of New York. In 1947 he created Shelby Cullom Davis & Company, which became a leading investment firm. He later served as the American Ambassador to Switzerland under Presidents Richard Nixon and Gerald Ford. Originally from Peoria, Illinois, Davis' uncle was Shelby Moore Cullom, who served in the U.S Senate for 30 years and introduced the legislation to create the Interstate Commerce Commission.

Kathryn Wasserman Davis was an American investor, painter, philanthropist, and political activist. She was a longtime promoter of women's rights and planning parenthood. She was committed to engaging local communities, particularly regarding the environment on the Hudson River and Maine coast, and also concerned with access to high-quality education. At the age of 94, she began an artistic adventure, producing more than 200 paintings.

John Harmon Rothchild was a freelance writer specializing in financial matters. He authored or co-authored more than a dozen books on finance and investing, and served as an editor of Washington Monthly as well as a columnist for Time and Fortune.

<span class="mw-page-title-main">UWC Dilijan</span> School in Dilijan, Armenia

UWC Dilijan College is the 14th member of the United World Colleges movement, one of eighteen colleges around the world, and the first international boarding school in Armenia. The college matriculated its first 96 IB1 students in September 2014. Currently, the school offers IB Diploma years 1 and 2. The school now hosts 227 students and is planning to expand further.

Leah Joy Zell is an American business executive and chartered financial analyst. She specializes in international investing in the international small-cap category. She is the Founder and Lead Portfolio Manager of Lizard Investors LLC.

References

  1. Rothchild 2003 , p. 50.
  2. Jason Zweig (December 1, 1995). "Meet America's Most Reliable Fund Manager His Name Is Shelby Davis, and He's Not Flashy. For Consistency, Though, He Beats Them All". Money magazine. Retrieved May 22, 2012.
  3. "Kathryn W. Davis; used millions to help Wellesley College, others - The Boston Globe". BostonGlobe.com.
  4. 1 2 "Wendy A. Adams, A Vassar Senior, Is Future Bride; Betrothed to Shelby M. Cullom Davis, Who Is a Princeton Graduate". The New York Times. January 4, 1959.
  5. 1 2 "Shelby Davis". www.skidmore.edu. Retrieved 2021-11-12.
  6. 1 2 "Shelby Davis — Wall Street Donors Guide". 31 December 2019.
  7. 1 2 "Like Father Like Sons", June 1999, Robert Frick, Kiplinger's Personal Finance Magazine, p.80
  8. 1 2 "Philanthropy Archives". 14 June 2023.
  9. Leckey, Andrew (1997-01-01). The Morningstar approach to investing: wiring into the mutual fund revolution. Hachette Book Group. p. 83. ISBN   978-0-446-52013-3 . Retrieved 10 April 2011.
  10. "DAVIS SELECTED ADVISERS- Ratings & Rankings by Symmetric".
  11. "All in the Davis Family: Still Picking Winners" Virginia Munger Kahn. New York Times, Late Edition (East Coast); New York, N.Y. [New York, N.Y]. 08 Feb 1998: 8
  12. What Becomes a Legend Most? Woolley, Suzanne. Money. Jul2000, Vol. 29 Issue 7, p44
  13. Chris And Shelby Davis Trade Places, April 2001, Alan Lavine, https://www.fa-mag.com/news/article-319.html?issue=7
  14. "T".
  15. Rothchild, John (22 May 2012). The Davis Dynasty: Fifty Years of Successful Investing on Wall Street. Wiley. ISBN   978-1118441824.
  16. "Gifts of $100 Million or More to Higher Education in 2018! | Tony's Thoughts". 22 February 2019.
  17. "Davis gift establishes endowment for International Center - 4/9/2007 - PWB - Princeton".
  18. "Eight named to Board of Trustees".
  19. "Power and Money at Princeton".
  20. "Montezuma castle, other Las Vegas buildings now open for tours - Albuquerque Journal".
  21. "$100M pledge to benefit United World College - Albuquerque Journal".
  22. "Shelby and Gale Davis' Visit at UWC Robert Bosch College".
  23. "Leading educational philanthropist shares his message with Wartburg's Davis Scholars". 12 August 2020.
  24. "UWC Scholars Program".
  25. "The College of Idaho's Record-Setting Class Wins Davis Cup | the College of Idaho".
  26. "Davis United World College Scholars Program (DUWCSP)".
  27. "Davis United World College Scholars Program Marks 15 Years". 18 April 2015.
  28. "Making the World a Better Place: Davis United World College Scholars at UF". 22 January 2017.
  29. Program report for 2018, specifying that as of that date they had provided scholarships to 9428 students https://www.davisuwcscholars.org/program/annual-reports
  30. "Major Private Gifts to Higher Education". 7 November 2022.
  31. "Shelby Davis: "How UWC Has Made Me a Better Me"". 25 February 2020.
  32. "Princeton - News - Multi-year, multi-million-dollar commitment will fund Davis UWC Scholarships, promote global understanding".
  33. https://www.uwc.org/news/?pid=22&nid=7&storyid=2250

Works cited