John C. Bogle, often referred to as “Jack” Bogle, was an influential American investor, business magnate, and philanthropist, born on May 8, 1929, in Montclair, New Jersey. He is best known as the founder of The Vanguard Group, one of the world’s largest investment management companies, and for creating the first index mutual fund available to retail investors.
Bogle graduated magna cum laude from Princeton University in 1951 with a degree in Economics. He began his career at Wellington Management Company, where he rose to become CEO. In 1974, after a management dispute, he founded The Vanguard Group to provide mutual funds directly to investors at lower costs. The Vanguard 500 Index Fund, launched in 1976, was the first index mutual fund and revolutionized the investment industry by promoting low-cost, passive investing.
Throughout his career, Bogle was a vocal advocate for ethical business practices and transparency in the financial industry. He authored several influential books on investing, including Bogle on Mutual Funds (1993), Common Sense on Mutual Funds (1999), and The Little Book of Common Sense Investing (2007). His writings emphasized the importance of long-term investing and minimizing costs.
Bogle received numerous accolades for his contributions to finance, including being named one of Time magazine’s 100 most influential people in the world in 2004. He was also recognized with the Lifetime Achievement Award from Institutional Investor magazine. Despite his success, Bogle was known for his frugality and commitment to investor education.
He passed away on January 16, 2019, at the age of 89. Bogle’s legacy continues to shape the investment industry, influencing both individual investors and institutional practices toward greater efficiency and fairness.
