Joe Ricketts
Joe Ricketts | |
|---|---|
| Born | John Joseph Ricketts July 16, 1941 Nebraska City, Nebraska, U.S. |
| Occupation(s) | Entrepreneur, philanthropist |
| Years active | 1975–present |
| Known for | Founder, former CEO and chairman of TD Ameritrade; owner of Chicago Cubs; founder of multiple business ventures including High Plains Bison and The American Film Company |
| Notable work | The Harder You Work, the Luckier You Get (2019 autobiography) |
John Joseph Ricketts (born July 16, 1941) is an American entrepreneur recognized as the founder, former CEO, and chairman of TD Ameritrade. As of 2024, Forbes estimates his net worth at approximately US$4.1 billion. Outside of TD Ameritrade, Ricketts has diversified his investments into various enterprises such as DNAinfo.com, High Plains Bison, The Lodge at Jackson Fork, and The American Film Company.
His philanthropic efforts are channeled through several organizations, including The Ricketts Art Foundation, Opportunity Education Foundation, The Cloisters on the Platte Foundation, and The Ricketts Conservation Foundation. Since October 2009, he and his family have owned the Chicago Cubs professional baseball team in Major League Baseball.
Early and personal life
Born and raised in Nebraska City, Nebraska, John Joseph Ricketts is the son of Florence M. (Erhart) and Donavon Platte Ricketts. He attended St. Bernard's Academy in Nebraska City, where he met Marlene Margaret (Volkmer), his future wife; both completed their studies there in 1959. He went on to receive a bachelor's degree from Creighton University in Omaha, Nebraska in 1968. Joe and Marlene Ricketts have four children—Pete, Thomas, Laura, and Todd—who were brought up in the Catholic faith. Presently, he lives in Hoback Basin, Wyoming.
In his 2019 autobiography The Harder You Work, the Luckier You Get, Ricketts reminisced about his experiences in Omaha during the 1960s, highlighting a culture of indulgence among stockbrokers while emphasizing his own reliance on beer to alleviate stress:
Our preferred drink was beer. Despite its limitations, beer is not a narcotic. Marlene typically did not join Friday night drinks at the Rookery; she would return home to prepare dinner for our children. Frequently, I missed dinner with them due to my late return. On some Friday evenings, I might have consumed a dozen beers or more. There were certainly nights when it was only by divine mercy that I avoided a car accident. However, it was just beer, which helped me release accumulated tension. I managed to get home safely so that our family and business could continue forward together.
TD Ameritrade
In 1975, Ricketts along with partners contributed $12,500 each to establish First Omaha Securities, a retail brokerage firm that expanded through mergers to become TD Ameritrade. He stepped down from the TD Ameritrade board in October 2011 to dedicate more time to entrepreneurial pursuits and charitable activities.
High Plains Bison
Launched by Ricketts in 2004, High Plains Bison supplies natural bison meat through both digital platforms and physical outlets and serves as the official bison provider at Chicago's Wrigley Field. Some of the bison originate from a Wyoming ranch owned by Ricketts, which also includes The Lodge at Jackson Fork Ranch—a four-bedroom lodge facility. Furthermore, Joe Ricketts owns Grizzly Ridge Bison Ranch in northern Montana that occupies about 2% of ancestral Blackfeet tribal lands; this has generated controversy due to ongoing tribal efforts to reclaim their traditional territory.
The American Film Company
In 2008, Ricketts established The American Film Company, focusing on producing feature films inspired by authentic American historical narratives. Their inaugural release was the historical drama The Conspirator (2010), directed by Robert Redford.
Chicago Cubs
In October 2009, the Ricketts family secured a 95 percent controlling stake in Major League Baseball's Chicago Cubs and ownership of Wrigley Field, as well as acquiring a 20% share in Comcast Sportsnet Chicago. This marked them as only the eighth ownership group in the franchise’s 133-year existence. Although Joe Ricketts does not engage in daily operations, his son Tom Ricketts acts as chairman of the Cubs, while siblings (Pete, Laura, and Todd) hold positions on the board of directors. Seven years after the purchase, in 2016, the Cubs clinched the World Series title, breaking a 108-year championship drought.
DNAinfo.com
Ricketts launched DNAinfo.com in 2009, a digital news outlet delivering neighborhood-focused reporting for New York City and Chicago. The site ceased operations on November 2, 2017, shortly after its staff voted to unionize. This shutdown also impacted affiliated sites such as Gothamist, Chicagoist, DCist, LAist, SFist, and Shanghaiist. Archived content was reinstated the following day. In September 2017, Ricketts publicly expressed opposition to unionization efforts, arguing that unions foster divisiveness detrimental to business performance.
Straight Arrow News
In 2021, Ricketts introduced Straight Arrow News, a nationwide digital news platform promoting itself with the tagline "Unbiased. Straight facts." Headquartered in Omaha, Nebraska, it employs journalists across the country and collaborates with Ground News for certain content offerings. By 2025, new senior personnel were appointed to advance revenue generation strategies.
Political activities
Together with Eric O'Keefe, Leo Linbeck III, and Tim Dunn, Ricketts co-founded the Campaign for Primary Accountability (CPA), an initiative aimed at challenging incumbents during primary elections.
In 2010, he spearheaded efforts against earmarks and excessive federal expenditures by founding Taxpayers Against Earmarks. This organization rated members of Congress as either spending "heroes" or "hooligans," created a congressional earmark database, and contributed to achieving a moratorium on earmarks that same year. In 2011, it was rebranded as Ending Spending to reflect an expanded mission.
Ricketts also created and financed The Ending Spending Fund, a political action committee that invested over $1 million in independent advertising targeting incumbent officials’ earmark practices. Among its campaigns was an unsuccessful attempt against Senate Majority Leader Harry Reid in 2010. Demonstrating transparency, Ricketts voluntarily disclosed his involvement.
From 1999 through 2007, he served on the board of trustees for the American Enterprise Institute. His son Pete Ricketts has held roles including member of the Republican National Committee, governor of Nebraska, and currently serves as a U.S. senator. His daughter Laura Ricketts is known as an advocate for LGBTQ+ rights and a significant fundraiser for Barack Obama. Another son, Todd Ricketts, assumed leadership as CEO of Ending Spending in 2013.
According to a 2012 report by The New York Times, Ending Spending received a proposal for a $10 million advertising campaign linking President Obama to controversial statements by Reverend Jeremiah Wright; this proposal was rejected and disavowed by the fund’s president as incompatible with Ricketts’ principles.
By mid-2014, Ending Spending Super PAC had exclusively supported Republican candidates.
During the 2016 presidential race, Ricketts contributed at least $1 million backing Donald Trump and raised funds for pro-Trump organizations such as Future45 Super PAC and the 45Committee. Initially during the Republican primaries, he donated to a Super PAC opposing Trump but later shifted his support due to economic concerns related to Hillary Clinton’s policies.
Alongside his wife, Ricketts donated $2.2 million toward Donald Trump’s 2020 presidential campaign.
Philanthropy
Ricketts established Opportunity Education, a charitable organization dedicated to providing educators with evidence-based tools designed to foster critical skills in students, supporting both their academic achievements and future endeavors.
On September 26, 2013, Joe W. Aguillard, president of Louisiana College, presented Ricketts and his brother Jim with two of the three Trustees' Distinguished Service Awards during the annual Founder's Day chapel ceremony.
Controversy over anti-Muslim and racist emails
In February 2019, a series of emails sent by Ricketts between 2009 and 2014 surfaced publicly, exposing his remarks that opposed Islam's societal influence and portrayed Muslims as opponents. The correspondence also included conspiracy theories regarding President Obama's citizenship and contained racially insensitive jokes aimed at Black and Hispanic communities, which Ricketts reportedly endorsed. He subsequently issued a formal apology in response to the disclosures.
External links
- Pages with script errors
- Articles with short description
- Articles with hCards
- No local image but image on Wikidata
- 1941 births
- Living people
- American billionaires
- American financial company founders
- American chairpersons of corporations
- American chief executives of financial services companies
- American philanthropists
- Businesspeople from Omaha, Nebraska
- Businesspeople from Wyoming
- Creighton University alumni
- Nebraska Republicans
- People from Jackson, Wyoming
- Wyoming Republicans
- 20th-century American businesspeople
- 21st-century American businesspeople
- Chicago Cubs owners
- Ricketts family
- People from Nebraska City, Nebraska
- American Enterprise Institute