Joe Mansueto
Joe Mansueto | |
|---|---|
| Born | Joseph Daniel Mansueto September 3, 1956 Munster, Indiana, U.S. |
| Education | University of Chicago (AB, MBA) |
| Known for | Founder, majority owner and executive chairman of Morningstar, Inc. Owner of Chicago Fire FC and FC Lugano |
| Spouse | Rika Yoshida |
| Children | 3 |
Joseph Daniel Mansueto (born September 3, 1956) is an American billionaire entrepreneur; the founder, majority owner and executive chairman of Morningstar, Inc.[1] He is also the owner of Major League Soccer club Chicago Fire FC[2] and Swiss Super League club FC Lugano.[3]
Early life and education
[edit]Joe Mansueto was born in Munster, Indiana, the son of Mario Mansueto, an Italian doctor.[4][5] He attended Munster High School[6] and graduated with a bachelor's and master's degrees in Business Administration from the University of Chicago.[7]
Career
[edit]In 1984, Mansueto founded Morningstar out of his home[5] with $80,000. Morningstar went public in May 2005.[5]
Through his company Mansueto Ventures, Mansueto purchased the financial magazines Inc. and Fast Company in June 2005.[5] He was a limited partner in the publication of the entertainment magazine Time Out Chicago from 2005 to 2013.[8]
As of June 2008,[update] Mansueto owned about 60.4% of Morningstar common stock.[9]
In September 2016, Morningstar announced that it had appointed Kunal Kapoor as chief executive officer, effective January 2017, with Mansueto becoming executive chairman at the same time.[10][1]
In July 2018, it was announced that Mansueto had purchased a 49 percent stake in the Chicago Fire, a Major League Soccer team based in Bridgeview, Illinois.[11] On September 13, 2019, it was announced that Mansueto had acquired full control of the Fire from Andrew Hauptman ahead of the club's move to Soldier Field.[12]
In August 2021, it was announced that Mansueto had purchased FC Lugano, a soccer team competing in the Swiss Super League, and that they would work with Chicago Fire, interchanging players when needed.[3]
In 2024, his majority ownership of Morningstar gained him inclusion on the Forbes World's Billionaires list, with a net worth at time of publication of $6.7 billion.[13]
Philanthropy
[edit]In May 2008 it was announced that Mansueto and his wife Rika pledged $25 million to the expansion of the Joseph Regenstein Library at the University of Chicago. The new wing, called the Joe and Rika Mansueto Library and designed by Chicago-based architect Helmut Jahn, was completed on May 16, 2011.
As of December 2010,[update] Mansueto was the only Chicagoan on the list of American billionaires pledging to give away half of their wealth,[14] as part of The Giving Pledge started by Warren Buffett.[15]
In the spring of 2016, Mansueto and his wife Rika announced a donation of $35 million to found the Mansueto Institute for Urban Innovation, a part of the University of Chicago committed to advancing urban science through interdisciplinary scholarship.[16]
Personal life
[edit]In 1998, Mansueto married Japanese-American Rika Yoshida, a Morningstar analyst.[5] They have three children, Jenna, Daniel, and Johnny,[17] and live in a home in Lincoln Park, Chicago that cost an estimated $22 million to build.[18]
Mansueto's younger brother John died in 2003 of West Nile virus.[5]
References
[edit]- ^ a b Yerak, Becky (September 6, 2016). "Kapoor to replace billionaire founder Mansueto as Morningstar CEO". Chicago Tribune.
- ^ Mikula, Jeremy (September 16, 2019). "How MLS helped steer Joe Mansueto to become the Chicago Fire owner — and why he "loves" the team's name". Chicago Tribune.
- ^ a b "Chicago Fire FC Owner and Chairman Joe Mansueto Purchases Swiss Super League Club FC Lugano | Chicago Fire FC". chicagofirefc.
- ^ Matthews, Dave Lee (October 31, 2013). "Morningstar's Joe Mansueto lists Magnificent Mile condo". Chicago Real Estate Daily. Crain's Chicago Business. Retrieved May 25, 2015.
- ^ a b c d e f "The Quiet Billionaire". Chicago Magazine. Retrieved July 17, 2018.
- ^ Janet Kidd Stewart (October 14, 2012). "Executive Profile: Joe Mansueto, founder of Morningstar Inc". Chicago Tribune. Retrieved January 17, 2014.
- ^ "Joe Mansueto". Bloomberg Business. Bloomberg LP. Retrieved May 25, 2015.
- ^ "Mansueto to sell Time Out Chicago". Crain's Chicago Business. March 19, 2013.
- ^ "Stock Ownership of Joe Mansueto".[permanent dead link]
- ^ "News Archive | Morningstar, Inc". newsroom.morningstar.com.
- ^ Bannon, Tim (July 11, 2018). "Chicago billionaire Joe Mansueto buys 49 percent stake in Fire". Chicago Tribune. Retrieved July 11, 2018.
- ^ "Chicago Fire announce ownership change and relocation". mlssoccer.com. September 13, 2019. Retrieved October 26, 2019.
- ^ "Joseph Mansueto - Forbes". Retrieved July 30, 2024.
- ^ "Mansueto answers Buffett's collect call". Chicago Tribune. December 10, 2010. Archived from the original on December 12, 2010.
- ^ "Joe Mansueto on Morningstar, Warren Buffett, the Financial Collapse, and More (posted Dec. 10, 2010)".
- ^ AvenueChicago, The University of ChicagoEdward H. Levi Hall5801 South Ellis; Us, Illinois 60637773 702 1234 Contact (March 9, 2016). "University launches Mansueto Institute for Urban Innovation". The University of Chicago.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ "Parker Welcomes New Board President". May 18, 2018.
- ^ "Status Update: The $22 Million Mansueto Mansion Off Lincoln Park". November 21, 2012. Archived from the original on June 24, 2021. Retrieved June 23, 2021.