In 1984, Mansueto founded Morningstar out of his home[5] with $80,000. Morningstar went public in May 2005.[5]
Through his company Mansueto Ventures, Mansueto purchased the financial magazines Inc. and Fast Company in June 2005.[5] He was a limited partner in the publication of the entertainment magazine Time Out Chicago from 2005 to 2013.[8]
As of June 2008, Mansueto owned about 60.4% of Morningstar common stock.[9] In 2011, his majority ownership of Morningstar gained him inclusion on the Forbes World's Billionaires list, with a net worth at time of publication of $1.6 billion.[10]
In September 2016, Morningstar announced that it had appointed Kunal Kapoor as chief executive officer, effective January 2017, with Mansueto becoming executive chairman at the same time.[11][1]
In August 2021, it was announced that Mansueto had purchased FC Lugano, a soccer team competing in the Swiss Super League, and that they would work with Chicago Fire, interchanging players when needed.[3]
In May 2008 it was announced that Mansueto and his wife Rika pledged $25 million to the expansion of the Joseph Regenstein Library at the University of Chicago. The new wing, called the Joe and Rika Mansueto Library and designed by Chicago-based architect Helmut Jahn, was completed on May 16, 2011.
As of December 2010, Mansueto was the only Chicagoan on the list of American billionaires pledging to give away half of their wealth,[14] as part of The Giving Pledge started by Warren Buffett.[15]
In the spring of 2016, Mansueto and his wife Rika announced a donation of $35 million to found the Mansueto Institute for Urban Innovation, a part of the University of Chicago committed to advancing urban science through interdisciplinary scholarship.[16]
In 1998, Mansueto married Japanese-American Rika Yoshida, a Morningstar analyst.[5] They have three children, Jenna, Daniel, and Johnny,[17] and live in a home in Lincoln Park, Chicago that cost an estimated $22 million to build.[18]
