June 5, 1932|
Cleveland, Ohio, U.S.
April 22, 2013 80) (aged|
Los Angeles, California, U.S.
|Cause of death||heart attack|
|Education||Los Angeles High School|
|Alma mater||Los Angeles City College (dropped out)|
|Known for||Founder of 99 Cents Only Stores|
Gold was born in Cleveland, Ohio to Russian immigrants who operated a general store.
His family moved to Los Angeles in 1945. Gold graduated from Los Angeles High School and began studies at Los Angeles City College, but dropped out to run his family's liquor store after his father had a heart attack.
Gold had noticed that 99 cents seemed to be a "magic number." "Whenever I'd put wine or cheese on sale for $1.02 or 98 cents, it never sold out. When I put a 99 cent sign on anything, it was gone in no time," he said in a 2003 interview with the Los Angeles Times.
Gold opened the first 99 Cents Only store in 1982. At the time, the dollar store concept was considered a retail graveyard for expired or broken products. Gold made his store bright and well organized and cultivated relationships with vendors, sometimes plying them with bagels and cream cheese.
- Li, Shan. Dave Gold dies at 80; entrepreneur behind 99 Cents Only chain. The Los Angeles Times