Who Founded Five Below?

David Schlessinger co-founded Five Below in 2002 with Tom Vellios. He had earlier founded Encore Books and Zany Brainy. With Vellios he identified an underserved tween and teen customer and built a store where nearly everything cost $5 or less. The first store opened in Wayne, Pennsylvania, in 2002. David Schlessinger was born in 1955.

Tom Vellios co-founded Five Below in 2002 and led the company as CEO in its early growth years, including the 2012 Nasdaq IPO. He later served as chairman, and in July 2024 he became executive chairman during the interim period after Joel Anderson left, before Winnie Park was named CEO. (Exact birth year remains publicly undisclosed).