John Bogle – also known as Jack – founder of investment management firm Vanguard, has died in Pennsylvania, the company said Wednesday. He was 89.
‘Jack Bogle made an impact on not only the entire investment industry, but more importantly, on the lives of countless individuals saving for their futures or their children’s futures,’ said Vanguard CEO Tim Buckley in a statement.
Describing Bogle as a ‘visionary,’ Buckley said he ‘changed the way we invest.’ Bogle is also considered the father of index funds.
In 1951, shortly after graduating from Princeton, he was hired by investment firm Wellington. He went on to found the Vanguard group, whose operations began on May 1, 1975.
In 2004, Time magazine named him one of top 100 most powerful and influential people.