DeVos Heir to $5 Billion Amway Fortune Bets on Family Office

Doug DeVos, heir to one of America’s biggest retail fortunes, is building up his own family office, marking at least the sixth private investment firm for the politically influential dynasty.

Continuum Ventures was created in 2020 by the 57-year-old son of Amway Corp.’s late co-founder Richard DeVos Sr., who used his fortune from the direct-selling giant to back conservative U.S. political causes and buy the Orlando Magic basketball team.

Doug DeVos

Photographer: Qilai Shen/Bloomberg

Michael Deming joined Grand Rapids, Michigan-based Continuum last month as director of investments after leaving his role as head of corporate development at Amway, where DeVos is co-chairman. ...