Jack Bogle, born, John Clifton Bogle is an American business tycoon, author, investor and a humanitarian. Jack Bogle has set a milestone in his journey as a successful business mogul and still continues to do so. He founded The Vanguard Group, which has over $4.5 trillion in assets. Jack Bogle is considered to be the god of mutual funds and investing. Here is a brief summary of Jack Bogle’s net worth in 2019.
Jack Bogle was born on the 8th of May, 1929 in Verona, New Jersey, U.S.A to William Yates Bogle and Josephine Lorraine Hipkins. He has a twin brother, David Bogle. Jack had a tumultuous childhood, as he was witness to his father’s reckless ways which lead him to work at various odd jobs from a very young age. However, the mound of the Great Depression led to him losing multiple jobs eventually leading to the loss of the family inheritance and their house. William and Josephine ended up separating, owing to William’s irrational behaviour and debauchery.
Jack Bogle went to Manasquan High School in Monmouth County, New Jersey, USA before transferring to Blair Academy, as a result of his academic merit. In high school, Jack showed a keen interest in numbers paving a way for his titanic career ahead. He graduated from high school in 1947 and went to Princeton University majoring in economics and investment. Jack Bogle is married to Eve Bogle. The couple have six children and twelve grandkids. As of now, Jack Bogle resides with his wife in Bryn Mawr, Pennsylvania.
Immediately after finishing up college, Jack Bogle started working at Wellington Fund. In a short span of 4 years, Jack was promoted to the position of assistant manager. His wide knowledge on mutual funds and practical skills in investing, led to him dethroning Walter Morgan, as the chairman of Wellington Management Company. In 1974, after a brief tumultuous period, Jack Bogle prepared for a new fund sector at Wellington and called it Vanguard, which later came to be known as the Vanguard Company, now the largest mutual fund organisation in the world.
1976, saw Jack Bogle navigating in index mutual funding and he went on to found the “First Index Investment Trust “, now known as the “Vanguard 500 Index Fund”. This step was a massive evolution in bringing the index mutual fund to the general public. The foundation of the “First Index Investment Trust”, led to two successive mutual funds, “Total Bond Fund” and the “Vanguard Extended Market Index Fund” in 1986 and 1987 respectively. Health issues led him to retire as chairman in 1999 and he was succeeded by his handpicked candidate, John J. Brennan.
Jack Bogle has also expanded his company internationally. Vanguard set its hold in the United Kingdom on the 16th of May 2017. This venture of his, changed the game scene of the entire UK share market. Apart from being a businessman, Jack Bogle is also a bestselling author. He has authored close to 8 books and his book, “Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor” is still cited as a cult classic. For most of his career, Jack Bogle has donated almost half his income to charity and humanitarian causes. As a member of the board of trustees at Blair Academy, he regularly funds scholarships for his alma mater at Blair Academy and Princeton. He has received several doctorates from various prestigious institutions like, Georgetown University and Princeton University to name a few. He is also a regular donator at the National Constitution Center.
Awards and Achievements
Jack Bogle’s enormous career has made him the recipient of various awards his lifetime.
• In 1999, ranked amongst the “Giants of the 20th Century” by Fortune Magazine.
• In 1999, recipient of the “Woodrow Wilson Award” in honor for his services in nation’s interest by Princeton University.
• In 2004, Times Magazine ranked him on the 100 most powerful and influential people’s list.
• In 2004, Institutional Investor awarded the Lifetime Achievement Award.
• In 2016 he was awarded the Pennsylvania Society Gold Medal for Distinguished Achievement.
Net Worth of Jack Bogle’s
Jack Bogle continues to be the true god of investing and mutual fund. His assets include his investment empire, his stock exchanges and properties all across the globe. Jack Bogle’s current net worth is $90 million.
Jack Bogle is a true pioneer. He is a legendary name in the world of 20th century business and investment. He could have easily become a billionaire, but his decision to let his mother company, Vanguard be a company for the public and the shareholders, opened gates for the common investors. He has been persistent in dedicating his life for the greater cause to serve the people first. His philanthropic measures knows no bounds. He has always cited that he has something a billionaire could never have- the knowledge that he has enough!