Jim Davis: The Greek Owner of New Balance Running Shoes

Greeks are everywhere! Did you know? The world’s most doctor recommended running shoe company, New Balance, is owned by Greek-American Jim Davis. Jim was born in 1943 and is the son of Greek immigrants. The successful, low key, Jim has 2 children and lives in Newton, Massachusetts. His wife, Anne Davis, joined New Balance in 1977 and is the vice chairman of the company today. Jim Davis owns a number of commercial properties in Massachusetts.

Jim Davis bought a small company called New Balance back in 1972. According to Forbes, Jim Davis today is worth 5.3 Billion and is the 94th richest man in the Unites States. As of 2017, Davis is the 324th richest man in the world. New Balance makes $4.5 billion in sales per year from athletic shoes, casual footwear and even sandals.

New Balance has also expanded into clothing and sports equipment and still one of the rare shoemakers that manufacture some shoes in America, making some 4 million pairs in the US yearly. In September 2015, the Boston company opened a new headquarters as part of a $500 million development, called Boston Landing, which will include a hotel, a sports facility with an indoor track and a rail station for commuting.

In September 2016, Davis contributed nearly $400,000 to the Trump Victory Committee. A senior executive of New Balance expressed support for Trump because of his opposition to the Trans-Pacific Alliance in an interview with the Wall Street Journal. The Trans Pacific Partnership was opposed by New Balance and the company condemned the Obama administration’s support for it, claiming that it would harm their domestic shoe production. While Nike, which does not manufacture in the US, supported the TPP. Controversy was caused on social media the day after the 2016 Presidential Election. A number of New Balance shoe owners destroyed and threw away their shoes pledging to boycott the company.

Meanwhile, many Americans continue to wear Nike which has been accused of child labour in China, Cambodia, and Pakistan. Nike heavily spends on marketing and has been criticized for political involvement. Nike created a lot of backlash with the Colin Kaepernick ad Just Do It campaign, which was blatant endorsement of the controversial #TakeAKnee movement in the NFL.