Best Buy timeline
- June 7, 2012 - 9:43 PM
1941: Born in St. Paul.
1958: Graduates from St. Paul Central High School.
1960: Begins selling electronics for his father's company, Northern States Distributing.
1966: He and a business partner found an electronics store called Sound of Music and expand to three stores in three years.
1981: After a tornado, Schulze sells discounted goods at his Roseville store, making so much money that he rethinks his business strategy.
1983: Opens a superstore in Burnsville under a new name, Best Buy.
1985: Best Buy raises $8 million in an initial public offering.
1992: Sales top $1 billion.
1995: Best Buy makes the Fortune 500 largest U.S. companies.
1999: Schulze makes Forbes 400 list of richest Americans.
2000: Schulze family gives $50 million to the University of St. Thomas.
2001: His wife, Sandra, dies of cancer.
2002: Schulze leaves the CEO post but stays on as chairman. Brad Anderson succeeds him.
2005: Schulze pledges $49 million for cancer research at Mayo Clinic, where Sandra Schulze was treated.
2008: Schulze family pledges $40 million to the University of Minnesota for diabetes research.
2009: Brian Dunn named CEO.
2012: Dunn is ousted over relationship with a female subordinate. Schulze, forced to step down as chairman, decides to immediately leave the board.
© 2016 Star Tribune