Vanguards advantage came from the unusual corporate structure that Mr. Bogle adopted. After he sent a copy to Walter Morgan, Class of 1920 and founder of the Wellington Fund, based in Philadelphia, Morgan hired Mr. Bogle. With his new pump, Mr. Bogle experienced an adolescent surge of vitality that left associates panting to keep up. John Clifton Bogle was born in Montclair, N.J., on May 8, 1929. From the station or airport, he walked to his destination rather than taking a cab, or hailed a cab rather than riding in a limo, even in his 70s. A June wedding is planned. He became much more connected to the family. A private service will be held next week. He served as a director of Instinet Corporation, Chris-Craft Industries, Mead Corporation, The General Accident Group of Insurance Companies, Meritor Financial Group, Inc., and Bryn Mawr Hospital. The Bogles lost their home and were forced to move in with relatives. Raymond G. Perelman, the master deal-maker and philanthropist who gave away more than $300 million to the University of Pennsylvania and other causes, died Monday at his home in Philadelphia. He always went the extra mile to make sure there wasnt a single person who could not understand what he was saying.. "Our challenge at the time," Mr. Bogle recalled a decade later, "was to build, out of the ashes of major corporate conflict, a new and better way of running a mutual fund complex. The decision was made as part of Vanguard's ongoing, comprehensive review of its global product lineup to ensure that each fund and ETF meets the evolving needs of clients. He married Eve Sherrerd in 1956. He served his university on many occasions from leading the Class of 1951 at its 25th reunion to advising the Princeton University Investment Co.. Children and grandchildren gathered at the family camp on Lake Placid. Mr. Bogle wasnt afraid to criticize his own index fund creation which he wrote may have grown too large. He was fiercely competitive when it counted, more intellectually alert than any person Ive ever met, willing to face indeed, almost court controversy and criticism, stubborn but willing to compromise when absolutely necessary, and most importantly, loving, sentimental, kind, charitable, and courageous.. She survives him, as do a brother, William Yates Bogle III; four daughters, Barbara Bogle Renninger, Jean Bogle, Nancy Bogle St. John and Sandra Bogle Marucci; two sons, John Jr. and Andrew; 12 . Cost is a handicap on the horse. Instead, he turned his company into one owned by its mutual funds, and in turn their investors, "that exists to provide its customers the lowest price. He can be reached via e-mail christinarenninger@att.net. In contrast to a management company, which in most cases controls the fund complex and provides all the investment, administrative and marketing services required in its operations, Vanguard is more like a mutual insurer, owned by investors in the funds, which employ their own officers and staff. Check social media profiles, resumes and CV, places of employment, public records, work history, skilled experts, arrest records, photos and videos and business records . He remained a man without pretense and pomposity. If youre honest with me, Ill support you fully. . While Mr. Bogle may have been cheap in the transactions of daily life, he was remarkably generous in a grand way. Until his death. His daughter Barbara Bogle Renninger served on the board of the Gesu School in North Philadelphia, where she was also a volunteer math tutor; his son Andrew was a patron of Robin Hood, a philanthropic organization established by investment bankers and hedge-fund managers to alleviate poverty in New York City. He worked tirelessly toward that goal, and his message never changed with the investing climate. He was a trustee for the American Indian College Fund and The American College. He was like the last honorable man, a complete straight-shooter, said Rick Stengel, former managing editor of Time and former president of the National Constitution Center, where he worked closely with Mr. Bogle, who then chaired the centers board. John Bogle, Vanguard chief inside the corporate office in Chesterbrook in 1989. He was very emotional, and teared up easily over things. At breakfast with a reporter in 1993, at a suburban Philadelphia restaurant near Vanguards headquarters, Mr. Bogle figured out that he would beat the $5.95 cost of the buffet by ordering from the menu. (Mr. Bogle named the company after Admiral Horatio Nelson's flagship at the Battle of the Nile in 1798; he thought the name "Vanguard" resonated with the themes of leadership and progress.). He was a social critic, civic leader, mentor, and philanthropist whose generosity to the institutions that shaped his character, notably Blair Academy and Princeton University, far outstripped his legendary frugality. Although he played no role in managing Vanguard after 2000, he continued to show up every weekday, usually in suit and tie and shined shoes, to discharge his duties as president of the Bogle Financial Markets Research Center. Looking back now, I find it remarkable that he was able to work as hard as he did but still say, This is a priority and what Im going to do be home every night.. from 8 AM - 9 PM ET. . We've listed 14 related ones in 8 states. When he was president of the Constitution Center, Stengel regularly met Mr. Bogle for power breakfasts at one of Mr. Bogles favorite eateries, Bennys Place at Fourth and Chestnut Streets. His commitment to safeguarding investors' interests often prompted him to speak out against practices that were common among his peers in other mutual fund organizations. In short order, Morgan became Mr. Bogles mentor. Lives in Hutchinson, Kansas . He received honorary degrees from a dozen universities, including his alma mater, which also bestowed on him its highest accolade, the Woodrow Wilson Award, for distinguished achievement in the nations service.. In 1996, surgeons at Hahnemann University Hospital replaced his faulty heart with a strong one, ending a 128-day wait in the hospital. Change we mustin our communications, our pricing structure, our product, and our promotional techniques. Mr. Bogle. Mr. Bogle suffered from a rare and degenerative heart disease, and was admitted to Hahnemann Hospital in the fall of 1995 to begin the wait for a new heart. . Vanguard announced his death. View contact information: phones, addresses, emails and networks. There was no bed or couch, he was informed. Mr. Bogle had legendary status in the American investment community, largely because of two towering achievements: He introduced the first index mutual fund for investors and, in the face of skeptics, stood behind the concept until it gained widespread acceptance; and he drove down costs across the mutual fund industry by ceaselessly campaigning in the interests of investors. I grew up in the best possible way, Mr. Bogle said in 2008, because we had social standing I never thought I was inferior to anybody because we didnt have any money but I had to work for everything I got.. ", In 1976, Vanguard introduced the first index mutual fundFirst Index Investment Trustfor individual investors. He was literally reborn, and he really appreciated the chance of having a second go at life.. This phone number may belong to other persons Barbara Bogle, David B Renninger, Andrew Renninger, Barbara B Renninger, Christina Renninger, Rebecca M Renninger. Mr. Bogle also wrote numerous articles and commentaries for trade and business publications. Vanguard founder John Jack Bogle signed copies of his book at the 2017 Bogleheads conference, Desmond Hotel, Philadelphia. Our challenge at the time was to build, out of the ashes of a major corporate conflict, a new and better way of running a mutual fund complex, Mr. Bogle said in 1985. Barbara Bogle, Barbara B Renninger, and five other persons are also associated with this address. Now known as Vanguard 500 Index Fund, it has grown to be one of the industry's largest, with more than $441 billion in assets (the sister fund, Vanguard Institutional Index Fund, has $221.5 billion in assets). Mr. Bogle suffered from a rare and degenerative heart disease, and was admitted to Hahnemann Hospital in the fall of 1995 to begin the wait for a new heart. Fortune magazine designated him one of the investment industry's four "Giants of the 20th Century" in 1999. He was like the last honorable man, a complete straight-shooter, said Rick Stengel, former managing editor of Time and former president of the National Constitution Center, where he worked closely with Mr. Bogle, who then chaired the centers board. Yes (Sandra Bogle Marucci, Jean Bogle, Nancy Moore Bogle, Andrew Armstrong Bogle, Barbara Bogle Renninger, John Bogle Jr.) Profession: Investor, business magnate, and philanthropist: Net Worth in 2022: $85 million: The Vanguard Group's founder and former CEO, John Bogle was a successful investor, entrepreneur, and philanthropist. For six go-go years, the partnership flourished, but when stock prices plunged in 1974, Mr. Bogle was fired. VALLEY FORGE, Pa., Jan. 16, 2019 /PRNewswire/ -- Vanguard announces the passing of John Clifton Bogle, founder of The Vanguard Group, who died tod. . This was a theme for Mr. Bogle and his successors: Vanguard is known today for maintaining investment costs among the lowest in the industry. That he was correct in calling them the croupiers at the gambling table did not endear him to the profession., Simply put, Jack cared, said William Bernstein. In 1967, Mr. Bogle led the merger of Wellington Management Company with the Boston investment firm Thorndike, Doran, Paine & Lewis (TDPL). A champion of the individual investor, Mr. Bogle is widely credited with helping to bring increased disclosure about mutual fund costs and performance to the public. (610) 649-0638 is Barbara's phone number. Children and grandchildren gathered at the family camp on Lake Placid. Eve Bogle: Children: Yes (Sandra Bogle Marucci, Jean Bogle, Nancy Moore Bogle, Andrew Armstrong Bogle, Barbara Bogle Renninger, John Bogle Jr.) Dating/Girlfriend (Name): N/A: Profession: Investor, business magnate, and philanthropist: Net Worth in 2023: $85 million: Last Updated: February 2023 Im contributing to society. Daughter: Barbara Josephine Bogle Renninger Daughter: Jean Sherrerd Bogle Son: John Clifton Bogle, Jr. The firm, headquartered in Valley Forge, Pennsylvania, offers more than 413 funds to its more than 20 million investors worldwide. A man who believed in the value of introspection and who was always questioning his own motives and behavior, Mr. Bogle sought to define what it means to lead a good life. Rebecca celebrated 36th birthday on June 1. While index funds have become widely popular, Vanguards competitors often have been less than keen about following the companys penny-pinching lead. Andrew He told me the most important thing in a relationship is trust, and trust is based on honesty. If Vanguard runs a tight ship, its a direct reflection of its founder. He was just as comfortable, if not more so, with someone whose cab he happened to get into, talking to people in the subway or to a waiter at the Princeton Club. He was 89 years old. Those employees are responsible to the funds directors. TCB "Taking Care of Business" at Color By Design, Inc. California residents do not sell my data request. He took chances on people because someone took a chance on him, said Stengel. They have also lived in Mc Veytown, PA Barbara is related to Trudy Kay Renninger and Russel H Renninger as well as 3 additional people. Thank you to our Gala Co-Chairs Gretchen & Gordon Cooney and Anne & David Hilton, as well as the 2016 Gesu Gala Committee for their . He liked to write his own speeches. There is a chance that the phone number (610) 649-0638 is shared by Barbara Bogle, Scott D Renninger, David B Renninger, Barbara B Renninger, Christina Renninger, Rebecca M . Malaysia: Moderation, not Racism and Religious Extremism, is in our DNA, Malaysia:The Problem of having a Prime Minister-in-Waiting. Friday July 14, 2017 3:21 pm. These innovations, reviled and ridiculed at first, enabled millions of ordinary Americans to build wealth to buy a home, pay for college, and retire comfortably. Im contributing to society. "I loved Philadelphia, my adopted city that had been so good to me. John C Bogle, who founded the Vanguard Group of Investment Cos in 1974 and built it into a giant mutual fund company, with $4.9 trillion in assets under management today, died Wednesday in Bryn . Mr. Bogle became the driving force behind Wellington's growth into a mutual fund family after he persuaded Mr. Morgan, in the late 1950s, to start an equity fund that would complement Wellington Fund. Bogle Eve Sherrerd 1956. Mr. Bogle graduated from Blair Academy in Blairstown, N.J., and, in 1951, from Princeton; he was a scholarship student at both. Of very few this can be said.. Vanguard veterans say that Mr. Bogle and Mr. Brennan barely spoke, if at all, in the years afterward. They had six children: daughters Barbara Bogle Renninger, Jean Bogle, Nancy Bogle St. John, and Sandra Bogle Marucci, and sons John C. Bogle Jr. and Andrew Armstrong Bogle. Mr. Bogle readily took swipes at the press for lauding fund managers who temporarily got a hot hand, and for focusing heavily on a funds quarterly performance. The superior performance of the Vanguard funds attracted investors and assets in droves. When we were growing up, we were told that were very fortunate in so many ways and that we were expected to give back, Andrew Bogle recalled. Vanguard managed its indexed mutual funds at cost, charging investors fees that were far lower than those of virtually all of its rivals. True Measures of Money, Business, and Life(2008); Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition (2009); Don't Count on It! We could choose our own way of contributing, whether it be time or money or just our thoughts, but we knew that the default option is that youre going to give back.. He also responded personally to many of the letters written to him by Vanguard shareholders, and he wrote many reports, sometimes as long as 25 pages, to Vanguard employeeswhom he called "crew members" in light of Vanguard's nautical theme. On file we have 27 email addresses and 19 phone numbers associated with Andrew in area codes such as 607, 609, 610, 336, 623, and 8 other area codes. He officially stepped down as chief executive of Vanguard in January 1996 and remained as chairman until the end of 1999. They had six children: daughters Barbara Bogle Renninger, Jean Bogle, Nancy Bogle St. John, and Sandra Bogle Marucci, and sons John C. Bogle Jr. and Andrew Armstrong Bogle. He held our industry to a higher standard than it held itself, and I think a lot of people took umbrage at that, said Arthur Zeikel, a former Merrill Lynch & Co. CEO who knew Mr. Bogle for decades. But Mr. Bogle eschewed the product- and marketing-driven thinking of much of the industry that has spread with the boom in mutual fund sales this decade. His reputation as a tightwad was well earned. In December 1949, while leafing through Fortune, he happened upon an article about the embryonic mutual-fund industry, and Mr. Bogle developed the topic for his senior thesis. In addition to squash, Mr. Bogle enjoyed tennis and golf, sailing, and summering at Lake Placid, N.Y. Mutual fund companies, he said, were all but immoral for accepting such fees. Popular Networth. Two years later, Mr. Bogle founded the First Index Investment Trust, later called the Vanguard Index Trust, now known as the Vanguard 500 Index Fund, the first index fund for individual investors. Mr. Morgan hired the ambitious 22-year-old for his Philadelphia-based investment management firm, Wellington Management Company. 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