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In the 1990s, he turned his attention to the historic Stock Farm, a 2,600-acre Thoroughbred horse ranch once owned by copper king Marcus Daly. Charles Schwab, the discount brokerage businessman, found a quiet retreat from his corporate life in Montana’s Bitterroot Valley, where he could enjoy the outdoors, drive along dirt roads, and leave his business suits behind.
Schwab invested an estimated $30 million in restoring the property and developing a private golf club. The plans included red barns, guest houses, log cabins, and an 18-hole golf course designed by Tom Fazio. The public golf course in nearby Hamilton was overcrowded and marked by divots, making it less suitable for his 10-handicap game. He responded by putting an estimated $30 million into the 100-year-old, 2,600-acre property, which had belonged to copper king Marcus Daly and operated as a Thoroughbred horse ranch. The Bitterroot Valley, around 35 miles south of Missoula, provided Schwab with a place to step away from his business responsibilities. At the ranch and in the surrounding area, he adopted a more informal routine, going fly-fishing in waders, wearing jeans and driving a brown-and-white 1980 Chevy Suburban along dirt roads. He also regularly ate supper at Cantina La Cocina, a 20-table restaurant in downtown Victor. Its 18-hole course was designed by Tom Fazio, a prominent golf course designer, and was scheduled to open in the autumn of 1998. The club offered 350 memberships. By the time Forbes reported on the project in October 1998, 75 memberships had been sold. The development also offered 96 lots ranging from one to 35 acres. Prices were set between $250,000 and $1 million, although only 12 lots had been purchased at the time of the report.
Schwab viewed the project as a personal venture rather than a way to make money, even as golf memberships and land parcels went on sale, according to Forbes. He said, “I wear the Gap denims since I’m on the board. Schwab said, “My life is about investing so this is just a unique thing for me to do.
Schwab’s decision to invest in the Stock Farm followed a problem with golfing in the Bitterroot Valley. Schwab wanted to restore the historic property while creating a private golf destination. Schwab’s description of his clothing reflected his relaxed approach to life in Montana. The restoration plans drew on the ranch’s historic character. The club buildings and guest houses were planned with clapboard exteriors and pitched single roofs, alongside log cabins with stone bases. A private golf club was central to the development. The project brought together the restoration of the former horse ranch and the creation of a private recreational facility. The Stock Farm development also included opportunities to buy memberships in the private golf club and land in the surrounding timber highlands. “It’s not about making money. You use AI every day. Now get your AI Quotient. Take the AIQ test.
Schwab intended to build red barns with galvanised-steel roofs, following the style associated with Daly a century earlier.