Joe Mansueto

Joe Mansueto
Joe Mansueto
Born	Joseph Daniel Mansueto; September 3, 1956 (age 67); Munster, Indiana, U.S.
Education	University of Chicago (AB, MBA)
Known for	Founder, majority owner and executive chairman of Morningstar, Inc.; Owner of Chicago Fire FC and FC Lugano
Spouse	Rika Yoshida
Children	3

Joseph Daniel Mansueto (born September 3, 1956) is an American billionaire entrepreneur; the founder, majority owner and executive chairman of Morningstar, Inc.^[1] he is also the owner of Major League Soccer club Chicago Fire FC^[2] and Swiss Super League club FC Lugano.^[3]

Early life and education

Joe Mansueto was born in Munster, Indiana, the son of Mario Mansueto, an Italian doctor.^[4]^[5] He attended Munster High School^[6] and graduated with a bachelor's and master's degrees in Business Administration from the University of Chicago.^[7]

Career

In 1984, Mansueto founded Morningstar out of his home^[5] with $80,000. Morningstar went public in May 2005.^[5]

Through his company Mansueto Ventures, Mansueto purchased the financial magazines Inc. and Fast Company in June 2005.^[5] He was a limited partner in the publication of the entertainment magazine Time Out Chicago from 2005 to 2013.^[8]

As of June 2008,^[update] Mansueto owned about 60.4% of Morningstar common stock.^[9]

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.^[10]^[1]

In July 2018, it was announced that Mansueto had purchased a 49 percent stake in the Chicago Fire, a Major League Soccer team based in Bridgeview, Illinois.^[11] 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.^[12]

In August 2021, it was announced that Mansueto had purchased FC Lugano, a soccer team competing in the Swiss Super League, and that they would work with Chicago Fire, interchanging players when needed.^[3]

In 2024, his majority ownership of Morningstar gained him inclusion on the Forbes World's Billionaires list, with a net worth at time of publication of $6.7 billion.^[13]

Philanthropy

In May 2008 it was announced that Mansueto and his wife Rika pledged $25 million to the expansion of the Joseph Regenstein Library 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,^[update] Mansueto was the only Chicagoan on the list of American billionaires pledging to give away half of their wealth,^[14] as part of The Giving Pledge started by Warren Buffett.^[15]

In the spring of 2016, Mansueto and his wife Rika announced a donation of $35 million to found the Mansueto Institute for Urban Innovation, a part of the University of Chicago committed to advancing urban science through interdisciplinary scholarship.^[16]

Personal life

In 1998, Mansueto married Japanese-American Rika Yoshida, a Morningstar analyst.^[5] They have three children, Jenna, Daniel, and Johnny,^[17] and live in a home in Lincoln Park, Chicago that cost an estimated $22 million to build.^[18]

Mansueto's younger brother John died in 2003 of West Nile virus.^[5]