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All things considered Jack Bogle did not become rich from Vanguard. For the size of their fund they have almost no employees and are not exactly flush with cash
by TheHegemon 8y ago
All things considered Jack Bogle did not become rich from Vanguard. For the size of their fund they have almost no employees and are not exactly flush with cash.
Vanguard is doing a sort of public service: http://freakonomics.com/podcast/stupidest-thing-can-money-rebroadcast/ http://freakonomics.com/podcast/stupidest-thing-can-money-re...
- opmac 8y agoDidn't become rich? He said he's worth about $100 million. Maybe less than expected for the founder of $5 trillion investment firm, but he's most certainly "rich". Also, almost no employees? According to Wikipedia they have over 16k employees. And I don't know how you know their cash flow, considering they're privately held and that information is not out there, but their AUM is over $5 trillion so it's hard to believe they'd have any sort of cash flow issues.