David Katzman is a famous American businessman with an impressive net worth of $3.5 billion. Graduating with a degree in Finance and Accounting from Michigan State University, Katzman has built a successful career in the retail industry, founding DeeKay Enterprises in 1987 and later selling it to The Home Depot. As the majority owner of the Cleveland Cavaliers and with successful investments in companies like SmileDirectClub, Katzman’s financial success is truly remarkable.
Key facts:
David Katzman graduated from Michigan State University with a degree in Finance and Accounting and attended Detroit College of Law.
He founded DeeKay Enterprises in 1987 and launched Habitat, Lens1st, and National Blinds and Wallpaper.
The Home Depot purchased DeeKay in 1997 and Katzman served as President of The Home Depot S.O.C.
He served as the Managing partner of Camelot Venture for 10 years before forming the Camelot Venture Group in 2008.
His investments with Camelot Venture Group include Lens Express, 1-800-Contacts, Real Age, Rawlings Sporting Goods, Fathead, and Quicken Loans.
Katzman served as the Vice Chairman of Quicken Loans and the National Basketball Association's Cleveland Cavaliers.
He is a majority owner of the Cavaliers along with Dan Gilbert and Gordon Gund.
David's son, Jordan Katzman, is the co-founder of SmileDirectClub, a company they founded using seed money from David.
SmileDirectClub raised capital at a $3.2 billion valuation in October 2018, giving Jordan a paper net worth of $1.4 billion and his co-founder Alex Fenkell a projected net worth of $1.3 billion.
As the largest shareholder, David Katzman was left with a $1.8 billion stake after SmileDirectClub went public in September 2019, with a market cap of $12.5 billion.
