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 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]