Joe Mansueto, a native of Munster (Indiana), is widely regarded as one of the most influential figures in investment research business today. The Chicago-based founder and CEO of Morningstar, Inc. has revolutionized the way mutual fund business works.
A billionaire turned philanthropist, Mansueto has never lost touch with his Midwestern roots and often visits family home in Northwest Indiana.
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Mansueto graduated from Munster High School in 1974 and has often attributed his business success to his native town’s school system. He recently pledged $1 million to fund a teacher’s program to help Munster retain good teachers and reward teaching performance.
Mansueto started Morningstar, Inc. in 1984 out of his Chicago apartment with an initial investment of $80, 000. The venture went from a quarterly publication to a global investment management and research firm. He reportedly owns 55% of the outstanding shares in the company. The firm is estimated to be managing $170 billion of assets worldwide. He and his Japanese-American wife, Rika, donated $25 million to the University of Chicago for building of a state-of-the-art library.
After transforming the way mutual fund business works the multi-billionaire has turned his attention to magazine publishing, buying Inc. and Fast Company magazines. In 2013 he divested from Chicago’s Time Out magazine.
Famous Quotes by Joe Mansueto:
