Bestbuy Net Worth (Updated 2026).

Best Buy, a name now synonymous with consumer electronics, was founded in 1966 by Richard M. Schulze and James Wheeler. The duo started their entrepreneurial journey in a small Minneapolis, Minnesota, store, initially named Sound of Music. Their vision was to create a one-stop shop for consumers seeking the latest in audio equipment.

The turning point for the company came in 1983 when Schulze bought out his partner and renamed the business Best Buy. Under Schulze’s leadership, the company expanded its product range to include video equipment and later, computers. This strategic move positioned Best Buy as a major player in the rapidly growing consumer electronics market.

Best Buy’s Current Net Worth (as of 2025)

As of 2025, Best Buy’s current net worth is approximately $11 billion, according to the latest available information. This figure reflects the company’s extensive retail operations and strong brand presence in the consumer electronics industry.

Career

Best Buy, founded in 1966, has grown from a small audio specialty store to a global retailer, employing over 100,000 people. The company specializes in electronics, appliances, and computing products, offering services such as Geek Squad for technical support and repair.

Other Ventures

Beyond retail, Best Buy has expanded into various ventures. These include Best Buy Health, focusing on connected health devices and services, and Best Buy Mobile, offering wireless products and services. Additionally, the company has invested in startups through its venture capital arm, Best Buy Ventures.

Assets

Best Buy’s assets are primarily composed of its extensive retail footprint, with over 1,000 stores across the United States, Canada, and Mexico. The company also holds significant intellectual property, including trademarks and patents, and substantial cash and investments.

Annual Income

In its fiscal year 2021, Best Buy reported a total revenue of $51.1 billion, a significant increase from the previous year. The company’s annual income has shown consistent growth, driven by its expanding product offerings and strong customer base.

Frequently Asked Questions about  Bestbuy

Frequently Asked Questions about Best Buy Net Worth

1. What is Best Buy’s net worth?

Best Buy’s net worth is estimated to be around $11 billion.

2. How does Best Buy make money?

Best Buy generates revenue through the sale of consumer electronics, appliances, and services. They operate both physical retail stores and an online platform.

3. Who is the founder of Best Buy?

Richard M. Schulze founded Best Buy in 1966. He started the company as an audio specialty store chain and grew it into a global electronics retailer.

4. How many stores does Best Buy have?

As of 2021, Best Buy operates over 1,000 stores in the United States, Canada, and Mexico.

5. What is Best Buy’s market share in the electronics retail industry?

Best Buy is one of the leading electronics retailers in North America, with a significant market share. However, the exact market share percentage can vary and is influenced by various factors such as competition and market trends.

6. Does Best Buy offer any services besides selling products?

Yes, Best Buy offers a range of services including Geek Squad for tech support, installation services, and protection plans for products.

7. How has the COVID-19 pandemic affected Best Buy’s business?

The COVID-19 pandemic has led to an increase in online sales and a shift in consumer behavior, which has impacted Best Buy’s business. However, the company has also seen an increase in demand for certain products like home office equipment and appliances.

8. What is Best Buy’s stock symbol?

Best Buy’s stock symbol is BBY and it is listed on the New York Stock Exchange.

9. How many employees does Best Buy have?

As of 2021, Best Buy employs over 100,000 people worldwide.

10. What is Best Buy’s corporate social responsibility (CSR) initiative?

Best Buy has a CSR initiative called “Tech for Good,” which focuses on creating positive change through technology. This includes initiatives like recycling electronics, supporting local communities, and promoting sustainability.