John W. Rogers, Jr., a prominent Black investor and co-CEO of Ariel Investments, the first Black-owned mutual fund company on Wall Street, has played a pivotal role in shaping the firm’s success. With more than $16 billion in assets under management, Rogers, Jr. has led Ariel Investments to become a significant player in the world of finance.
Born on March 31, 1958, in Chicago, Illinois — to Jewel Lafontant Mankarious and Judge John Rogers. Sr. — Rogers, Jr. developed a strong financial foundation from a young age. His father, a judge, gifted him stocks for birthdays and Christmas, instilling in him the seeds of an entrepreneurial spirit that would later flourish.
Pioneering diversity in finance: The Ariel Investments story
In 1976, Rogers, Jr. started his journey at the University of Chicago Laboratory School. After excelling at Princeton University, where he earned an economics degree in 1980 and stood out as a basketball player, he shifted gears to Wall Street, joining William Blair & Company as a stockbroker. This move honed his market skills and opened his eyes to the challenges minorities face in finance.
In 1983, at the age of 25, Rogers, Jr. identified a gap in minority-owned asset management firms and co-founded Ariel Investments with $250,000. The firm focused on small-cap, undervalued stocks, deviating from the prevailing trend of chasing hot technology stocks.
As a Wall Street mogul, Rogers, Jr.’s story transcends financial metrics, embodying an unwavering commitment to addressing the racial wealth gap in America. His straightforward thesis was to invest in overlooked companies with strong fundamentals, challenging the dominant trends of the time. This contrarian approach, combined with a patient, research-driven investment philosophy, proved to be a successful gamble.
Ariel Investments, driven by Rogers, Jr.’s ethos, has become the largest Black-owned mutual fund in the United States, managing $16.2 billion, including $1.35 billion for Ariel Alternatives, a subsidiary. Beyond his role as a financial leader, Rogers, Jr. is a value-based investor, boardroom diversity advocate, and community champion.
Rogers, Jr.: Architect of financial inclusivity and philanthropy
Rogers, Jr.’s influence extends far beyond financial markets. Co-chairing the 2009 presidential inauguration and sharing investment insights through Forbes, he also supports aspiring entrepreneurs from underrepresented communities through Ariel’s Charitable Foundation and mentorship programs.
More than a pioneer for minority investors, Rogers, Jr. is a proponent of a fairer financial system, embodying resilience, passion, and vision that serves as a guide for future generations. His impact goes beyond Ariel Investments, as he sits on various boards, including McDonald’s and Nike, where he advocates for increased diversity in corporate leadership.
In addition to his corporate endeavors, Rogers, Jr.contributes philanthropically through the Ariel Education Foundation, empowering minority students with financial literacy and the tools needed to navigate the world of investment, ensuring a brighter future for generations to come.
