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Grizzly Bulls’ Billionaires Index

⬅ # 445 Karen Pritzker|# 447 Agnete Kirk Thinggaard ➡

# 446 Joe Mansueto 

$6.50B

Real Time Net Worth
as of 6/25/2024
$22.2M (0.34%)

# 446 Joe Mansueto 

$6.50B

Real Time Net Worth
as of 6/25/2024
$22.2M (0.34%)
OccupationFounder and Chair, Morningstar
Source of WealthInvestment Research
Age67
ResidenceChicago, Illinois
Marital StatusMarried
Children3
EducationBS, University of Chicago
Age-Adjusted Net Worth$4.05B
Joe Mansueto
Joe Mansueto
United States
Net worth: $6.50B

Self-Made Score 

Wealth History

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Biography

Early and Personal Life

Joseph Daniel Mansueto was born on September 3, 1956, in Munster, Indiana, to Mario Mansueto, an Italian doctor.
He attended Munster High School and later earned both bachelor's and master's degrees in Business Administration from the University of Chicago.
In 1998, Mansueto married Rika Yoshida, a Morningstar analyst. They have three children and reside in a home in Lincoln Park, Chicago, estimated to have cost $22 million to build.
Mansueto's younger brother, John, passed away in 2003 due to West Nile virus.

Career

In 1984, Mansueto founded Morningstar out of his home with $80,000 in savings, later taking the company public in May 2005.
He initially conceived the idea for Morningstar in 1982 while reviewing mutual fund annual reports, officially founding the company two years later.
Mansueto purchased financial magazines Inc. and Fast Company in June 2005 through his company Mansueto Ventures.
He expanded Morningstar's operations through acquisitions, including Ibbotson Associates, Inc. in 2006, and Realpoint in 2010, among others.
Mansueto stepped down as CEO of Morningstar in 2017, assuming the role of executive chairman, with Kunal Kapoor taking over as CEO.
In addition to Morningstar, Mansueto acquired ownership stakes in sports teams, including the Chicago Fire soccer team in 2018, and FC Lugano in 2021.

Philanthropy

Mansueto and his wife, Rika, pledged $25 million in May 2008 for the expansion of the Joseph Regenstein Library at the University of Chicago, resulting in the Joe and Rika Mansueto Library.
In 2016, they donated $35 million to establish the Mansueto Institute for Urban Innovation at the University of Chicago.
Mansueto was the only Chicagoan on the list of American billionaires pledging to give away half of their wealth as part of The Giving Pledge initiated by Warren Buffett.
Through philanthropy, Mansueto has made significant contributions to education and urban innovation.

Morningstar

History
Morningstar was founded by Joe Mansueto in 1984, initially operating from his one-bedroom Chicago apartment with an initial investment of $80,000.
The company went public in May 2005, offering 7,612,500 shares at $18.50 each using the OpenIPO method.
Morningstar expanded its services through strategic acquisitions, including Ibbotson Associates, Inc. in 2006, and Realpoint in 2010.
In 2016, Morningstar acquired the remaining ownership of PitchBook Data, and in 2019, it acquired DBRS, the world's fourth-largest credit rating agency, for $669 million.
Morningstar further expanded its ratings business in 2020 with the acquisition of Sustainalytics, specializing in environmental, social, and governance (ESG) insights.
The firm also acquired PlanPlus Global, a financial planning and risk assessment software company, in 2020.

Products and Services
Morningstar offers a wide array of products and services for both retail and institutional investors, including investment research, management, and advisory services.
Its investment management subsidiary oversees over $265 billion in assets under advisement and management.
Morningstar Direct provides data and analytics for professional investment managers, while Morningstar Office Cloud offers a comprehensive cloud-based platform for financial advisors.
Retail investors can access news, research, and analysis through Morningstar Premium subscription.
Morningstar Credit Ratings, acquired in 2010, issues credit ratings on structured financial products and corporate/financial institutions, competing with firms like S&P and Moody's.
In 2022, Morningstar launched a new research platform, Morningstar Research Portal, aimed at helping financial advisors utilize investment research and tools effectively.

How long would it take you to become as rich as Joe Mansueto?

If you started with $10,000 and invested an additional $500 each month at a 44.13% CAGR, it would take you 5 years to reach Joe Mansueto's net worth of $6.50B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.35% compared to 16.28% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Joe Mansueto is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Joe Mansueto, Investment Research is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey