Billionaire Sinquefield’s rags-to-riches life is one of his attractions (that is what aspired us to develop this blog about him). Born in St. Louis, he spent six years in St. Vincent’s orphanage — roughly ages 8 to 14 — before reuniting with his widowed mother and older sisters.He graduated from Bishop DuBourg High School near St. Louis Hills. Sinquefield attended Cardinal Glennon Seminary for three years before deciding the religious life was not for him. “I was studying to be a bishop. They said, ‘Wait a minute, you have to be a priest first,’ ” Sinquefield recalled with a chuckle. He transferred to St. Louis University, graduating in 1967 with a business degree.
In 1968, at the height of the Vietnam War, Sinquefield was drafted into the Army. But instead of being sent overseas, he was placed in the finance corps based at Fort Riley, Kansas. After a two-year military stint, Sinquefield worked for banks in St. Louis and Chicago, the latter while also acquiring an MBA at the University of Chicago.
He spent nine years with the American National Bank of Chicago, working his way up to be the head of its investment section and later, the trust department. His love of investing prompted Sinquefield to leave the bank in 1981 to co-found Dimensional Fund Advisors with business partner David Booth. The firm quickly grew, and now employs 330 people worldwide. In 2006, it managed at least $138 billion in funds. A spokeswoman confirmed that the firm’s owners include employees, board members and 28 outside investors, including California Gov. Arnold Schwarzenegger. Long based in Santa Monica, Calif. — which Sinquefield dubs "Soviet Monica" because of its high taxes — the firm now is relocating its headquarters to Austin, Texas. The draw: Texas doesn’t have an income tax.
This is a man who spent his early life in orphanage, developed many talents, and became a billionaire investment banker. We truly developed this blog to share his life and achievements with our online visitors.
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