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JJohn Clifton Bogle and his twin brother David were born in Montclair, New Jersey on May 8, 1929; It is the mother of John, Josephine, who calls him for the first time, Jack. The boys' grandfather, William Yates Bogle Sr., was a wealthy industrialist and their parents had lived a glamorous life of the 1920s until the Great Crash wiped out the family's fortune. The wedding ended with a divorce and the teenager Jack took on junior chores – including laying tongs in a bowling alley – to make ends meet. He studied at Manaquan High School before earning a scholarship from the prestigious Blair Academy and continuing at Princeton.
His thesis entitled "The Economic Role of the Investment Company" earned him a first job in 1951 at Wellington Management, one of the first players in mutual funds, where he became president, but was dismissed by his partners in 1974. He pursued Vanguard's new venture after Nelson's flagship at the Battle of the Nile and, in 1976, he challenged Wall Street's doubts to launch what would become his own flagship, the highly successful Vanguard 500 Index Fund.
Born with a heart defect and first cardiac arrest at age 31, Bogle had a heart transplant in 1996 when he stepped down as Vanguard's CEO. He remained president until 1999 but, after getting scrambled with his successor, the council insisted that he retire at age 70.
Bogle's writings include Common Sense on Mutual Funds (1999) and Crop Shock: Investment versus Speculation (2012). Famous economist, he traveled in economy clbad and drove a Volvo estate car. If Vanguard had been directed on less altruistic lines, he would have been a billionaire; his fortune was estimated at $ 80 million and he regularly gave half his earnings to good causes, including Blair Academy and Princeton. His only regret, he said in 2012, was to "not have more to give".
He married Eve Sherrerd in 1956. She survives with their four daughters and two sons.
John Bogle, May 8th 1929, Deceased 16 January 2019
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