Joseph Daniel Mansueto (born September 3, 1956) is an American

billionaire A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. The American busi ...

entrepreneur; the founder, majority owner and executive chairman of

Morningstar, Inc. Morningstar, Inc. is an American financial services firm headquartered in Chicago, Illinois and was founded by Joe Mansueto in 1984. It provides an array of investment research and investment management services. With operations in 29 countries ...

he is also the owner of

Major League Soccer Major League Soccer (MLS) is a men's professional soccer league sanctioned by the United States Soccer Federation, which represents the sport's highest level in the United States. The league comprises 29 teams—26 in the U.S. and 3 in Cana ...

club

Chicago Fire FC (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

and of the

Super League The Super League (officially known as the Betfred Super League due to sponsorship from Betfred and legally known as Super League Europe), is the top-level of the British rugby league system. At present the league consists of twelve teams, of w ...

of Switzerland club FC Lugano

Early life and education

Joe Mansueto was born in Munster, Indiana, the son of Mario Mansueto, an Italian doctor. He attended

Munster High School Munster High School (MHS) is a public high school in Munster, Indiana. It is part of the School Town of Munster. Munster High School serves as the only high school for the Munster School District. Demographics The demographic breakdown of the 1,51 ...

and graduated with a bachelor's and master's degrees in Business Administration from the

University of Chicago The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...

Career

In 1984 Mansueto founded Morningstar out of his home with $80,000. Morningstar went public in May 2005. Through his company Mansueto Ventures, Mansueto purchased the financial magazines '' Inc.'' and ''

Fast Company ''Fast Company'' is a monthly American business magazine published in print and online that focuses on technology, business, and design. It publishes six print issues per year. History ''Fast Company'' was launched in November 1995 by Alan Web ...

'' in June 2005. He was a limited partner in the publication of the entertainment magazine ''Time Out Chicago'' from 2005 to 2013. As of June 2008, Mansueto owned about 60.4% of Morningstar common stock. In 2011, his majority ownership of Morningstar gained him inclusion on the ''

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...

'' World's Billionaires list, with a net worth at time of publication of $1.6 billion. 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. In July 2018, it was announced that Mansueto had purchased a 49 percent stake in the Chicago Fire, a

team based in

Bridgeview, Illinois Bridgeview is a village in Cook County, Illinois, United States. It is located approximately southwest of the Chicago Loop. As of the 2020 census, the village population was 17,027. History The earliest settlement in Bridgeview occurred in th ...

. 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 Soldier Field is a multi-purpose stadium on the Near South Side of Chicago, Illinois, United States. Opened in 1924 and reconstructed in 2003, the stadium has served as the home of the Chicago Bears of the National Football League (NFL) since ...

. In August 2021, it was announced that Mansueto had purchased FC Lugano, a soccer team competing in the

Swiss Super League The Swiss Super League (known as the Credit Suisse Super League for sponsorship reasons) is a Swiss professional league in the top tier of the Swiss football league system and has been played in its current format since the 2003–04 seaso ...

, and that they would work with Chicago Fire, interchanging players when needed.

Philanthropy

In May, 2008 it was announced that Mansueto and his wife Rika pledged $25 million to the expansion of the

Joseph Regenstein Library The Joseph Regenstein Library, commonly known as "The Reg" is the main library of the University of Chicago, named after industrialist and philanthropist Joseph Regenstein. It is one of the largest repositories of books in the world and is note ...

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, 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 by Warren Buffett. In the spring of 2016, Mansueto and his wife Rika announced a donation of $35 million to found the

Mansueto Institute for Urban Innovation Mansueto may refer to the following people: ;Given name * Mansueto Bianchi (1949–2016), Italian Roman Catholic bishop * Pietro Mansueto Ferrari (1823–1893), Italian entomologist *Mansueto Velasco (born 1974), Filipino boxer and comedian ;Surn ...

, a part of the University of Chicago committed to advancing urban science through interdisciplinary scholarship.

Personal life

In 1998, Mansueto married Japanese-American Rika Yoshida, a Morningstar analyst. They have three children and live in a home in

Lincoln Park, Chicago Lincoln Park is a designated community area on the North Side of Chicago, Illinois. Lying to the west of Lincoln Park, Chicago's largest park, it is one of the most affluent neighborhoods in Chicago. History In 1824, the United States ...

that cost an estimated $22 million to build. Mansueto keeps strict work hours, 8:30 a.m. to 5 or 6 p.m., with an occasional Saturday at the office. Mansueto's younger brother John died in 2003 of

West Nile virus West Nile virus (WNV) is a single-stranded RNA virus that causes West Nile fever. It is a member of the family '' Flaviviridae'', from the genus '' Flavivirus'', which also contains the Zika virus, dengue virus, and yellow fever virus. The v ...

References

{{DEFAULTSORT:Mansueto, Joe 1956 births American billionaires Giving Pledgers 21st-century philanthropists Living people University of Chicago alumni University of Chicago Booth School of Business alumni People from Munster, Indiana American company founders Chicago Fire FC non-playing staff