J . Joe Ricketts is a self-made American billionaire who revolutionized the financial services industry by founding the discount stock brokerage firm, TD Ameritrade. He founded the company in 1975, and was a pioneer in offering low-cost stock trading to individual investors, a move that disrupted the traditional, high-commission brokerage model. He was also an early adopter of technology, offering trading over the phone and later over the internet.
He built Ameritrade into a massive and highly successful company, which later acquired TD Waterhouse to form the modern TD Ameritrade. The company was later acquired by its rival, Charles Schwab, in a massive deal. In addition to his financial services empire, the Ricketts family is famous as the owners of the Major League Baseball team, the Chicago Cubs. The family purchased the team in 2009 and famously oversaw the end of the team's 108-year championship drought with a historic World Series victory in 2016. He is also a major donor to conservative political causes.
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John Joseph 'Joe' Ricketts is an American businessman, the self-made billionaire founder, former CEO, and former Chairman of TD Ameritrade, one of the world's largest online brokerage firms. Born in Nebraska City, in 1941, he received a bachelor's degree from Creighton University in 1968.
Ricketts's career began in finance as a branch manager at Dun & Bradstreet. His pivotal career moment came in 1975 when he and a few partners co-founded First Omaha Securities, recognizing the immense opportunity presented by the newly deregulated discount securities market. His philosophy centered on empowering self-directed investors through innovative technology and lower commissions.
J. Joe Ricketts's strategic genius was leveraging technology and deregulation to dominate the retail securities brokerage market. His firm, First Omaha Securities, evolved into Ameritrade, managing hundreds of billions of dollars in client assets. A key milestone was introducing the first quote-and-order entry system using a touch-tone telephone (1988). The final massive exit occurred in 2020 when The Charles Schwab Corporation acquired TD Ameritrade for approximately $26 billion.
His public focus shifted in 2009 when his family acquired a 95 percent controlling interest in the Chicago Cubs and Wrigley Field. His son, Tom Ricketts, serves as Chairman, while his other children (Pete Ricketts, a former governor and current U.S. Senator, and others) sit on the board. The family led the team to win the 2016 World Series, ending a 108-year drought. His wealth is tied to his success in financial technology and the immense value of professional sports franchises.
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Co-founds First Omaha Securities (Founding).
Introduces the first quote-and-order entry system using a touch-tone telephone (Technological Milestone).
Ricketts family acquires the Chicago Cubs (Sports Acquisition).
Retires from the TD Ameritrade board (Executive Transition).
Chicago Cubs win the World Series (Sports Milestone).
TD Ameritrade is acquired by Charles Schwab for $26 billion (Major Exit).
J. Joe Ricketts's wealth is concentrated in the liquid capital from the TD Ameritrade sale and his family's ownership of the Chicago Cubs.
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J. Joe Ricketts's social impact is structural, stemming from his pioneering of online discount brokerage, which lowered costs and made investing accessible to millions of self-directed investors. His philanthropic efforts, through the Ricketts Art Foundation, Opportunity Education Foundation, and The Cloisters on the Platte Foundation, focus on education, conservation, and the arts. His political funding (The Ending Spending Fund) advocates for fiscal conservatism and reduced earmarks.
His career is a testament to the profitability of technological innovation in finance, despite facing public criticism over past political activities (anti-Muslim and racist emails).
J. Joe Ricketts maintains the pragmatic, composed style of a businessman and political donor. His attire is consistently professional and conservative. His aesthetic reflects his Nebraska roots and his commitment to conservative values and philanthropy.
Residing in Hoback Basin, Wyoming, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to financial investment, conservation, and the long-term stewardship of the Cubs franchise.
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This profile is compiled from verified biographical and financial records:
All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.
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