He and his wife, Lila Acheson Wallace, built the magazine into a publishing empire with a circulation of 17 million. Wallace also founded the Reader's Digest Association, which published books, magazines, and other media. He was also a philanthropist, donating millions of dollars to various charities and educational institutions.
DeWitt Wallace was an Entrepreneur and philanthropist who had a net worth of $1.5 billion. He was born in Saint Paul, Minnesota in November 12, 1889 and is best known for founding the Reader's Digest magazine, which had a circulation of 17 million. He also founded the Reader's Digest Association, which published books, magazines, and other media. Wallace was a generous philanthropist, donating millions of dollars to various charities and educational institutions.
DeWitt Wallace is a member of Entrepreneur
Age, Biography and Wiki
💰 Net worth: $1.5 billion (2024)
About
Founder of Reader's Digest magazine, the long-running anthology of popular articles.
Before Fame
He served in the Army in World War I. After being wounded in action, he spent four months in the hospital recovering.
Trivia
He read popular magazines to pass the time, and he started bookmarking his favorite articles. He then hit on the idea of creating a portable compendium of those articles.
Family Life
His wife Lila Bell Wallace helped him found the Reader's Digest magazine. Their first issue came out in 1922.
Associated With
He and his wife were both staunch supporters of Richard Nixon, and their choice of articles for inclusion into Reader's Digest reflected that political view.
