Rank #1012
Rodger Riney & family
Net worth $4.2B
Discount brokerage · United States
- Born
- Jan 01, 1946
- Age
- 80
- Source
- Discount brokerage
- Residence
- St. Louis, Missouri
- Citizenship
- United States
- Marital status
- Married
- Children
- 3
- Education
- Bachelor of Arts/Science, University of Missouri; Master of Business Administration, University of Missouri
Net worth over time
Biography
- Rodger Riney is the cofounder of discount brokerage firm Scottrade, which is now part of Charles Schwab.
- After college, Riney turned down a job at a top engineering firm and joined a Missouri investment company for less pay.
- A decade later, he quit his job, drove 1,500 miles from St. Louis to Scottsdale, Ariz. and cofounded Scottrade in 1980.
- Riney, who bought out his partner in 1985, expanded the firm to 3 million client accounts with a total of $170 billion in assets under management.
- He sold out to Joe Ricketts' TD Ameritrade for $4 billion in 2017, 2 years after he was diagnosed with blood cancer multiple myeloma.
- He has since donated $40 million to Washington University in St. Louis to research the disease and develop treatments for neurodegenerative illnesses.