American heir and businessman Edward Stack is the Chairman and Chief Executive Officer of Dick’s Sporting Goods, Inc. with an estimated net worth of $1.1 billion as of March 2013. According to Forbes, the new billionaire is the 408th richest person in the United States and 1268th in the World Billionaires list.

Mr. Stack has made his estimated net worth of $1.1 billion from the publicly traded Dick’s Sporting Goods chain. It was founded by his father, Richard Stack, in 1948 as a fishing bait shop in Binghamton, New York using $300 of his mother’s savings.

In 1984, Edward W. Stack bought the two stores which his father has owned and expanded. As the Chairman and CEO of the family business, he took the company public in 2002. Currently, the retailer chain has 500 locations in 44 states. It is one of the biggest gun retailers in the country. However, after the December 2012 mass school shooting in Newton, Connecticut, the stores suspended the sale of high-powered rifles.

He is the biggest individual shareholder in the company with %15 stake while his ex-wife also owns some shares. He serves on the Board of Directors of the National Retail Federation. He was also on the Board of Directors of Keycorp between March 2010 and September 16, 2011.