Charles Robert Schwab Sr. (born July 29, 1937) is an American investor and financial executive.

The founder and chairman of the Charles Schwab Corporation, he pioneered discount sales of equity securities starting in 1975.

[2][3] As of 2025, his net worth is estimated by Forbes to be $11.7 billion, making him the 203rd richest person in the world.

In his youth, he worked several jobs, including as an ice cream salesman, a railroad switchman, a roustabout in an oil field, and as a caddie.

Schwab had long complained that the established firms showed little concern for the needs of their customers.

[citation needed] At this point the unit had annual sales of $41 million, 600 employees, and 220,000 customers through 40 branches.

The SEC investigated Schwab on the possibility he was selling stock to take advantage of insider information; he denied it, and no charges were filed.

In 1980 Schwab established the industry's first 24-hour quotation service, and the total of client accounts grew to 147,000.

After coming back into control, Schwab conceded that the company had "lost touch with our heritage", and quickly refocused the business on providing financial advice to individual investors.

The emergence of the World Wide Web in the mid-1990s posed a new threat with new startups trying to exploit their software.

Schwab responded in 1996 by becoming the first major financial services firm to sell online listed and over-the-counter stocks, as well as mutual funds and bonds.

[19] In 2000, Schwab introduced mobile/wireless trading with its PocketBroker mobile app that functioned on RIM (BlackBerry), Palm, Windows CE, and WAP-enabled phones, with deployments in the US, UK, and Hong Kong.

Schwab sits on the board of trustees of the San Francisco Museum of Modern Art and is a chair emeritus.

[26] The Charles and Helen Schwab Foundation, whose primary focus is "to ensure that each student reaches his or her full potential", supports research and programs related to learning disabilities, including dyslexia.

[33] His son Charles Jr., who played quarterback at Northwestern University, is the father of four children: Haley, Samantha, Sydney, and Charlie.

In January 2025, Trump announced that Samantha will serve in his second administration as a deputy to the Treasury Chief of Staff.

[37] In 2012, Schwab donated nearly $9 million to Americans for Job Security, a group which opposed Barack Obama in the 2012 election.

[43] The PAC donated its remaining funds to the Boys & Girls Clubs of America and historically black colleges and universities.