Harrisburg, PA – Pennsylvania State Treasurer Joe Torsella today released a statement, following the passing of John “Jack” Bogle, at the age of 89:
“While I'm deeply saddened to hear of Jack Bogle's passing, those feelings are overwhelmed by the joy I had in knowing and working with Jack for many years.
Jack spent decades revolutionizing the investing world. He was the brilliant force behind products that made investing simpler, better, and far, far less expensive to millions of Americans. He made his money by being an innovator, when he could have made billions in the high-fee investing world he stepped into and sought to change. But he grew up with little, felt he had plenty, and wanted others to have more.
That same spirit came to his work at the National Constitution Center. Jack was pressed into service as the Chairman of the Board for what was supposed to be just a few months, a minor imposition in a retirement in which he never seemed to be at rest. He ended up serving for years, helping get the center built and launched to the world.
Warren Buffett once said that, 'If a statue is ever erected to honor the person who has done the most for American investors, the hands down choice should be Jack Bogle.' I couldn't agree more. He built an engine of low-cost wealth creation for the middle class. He helped build a temple to an American democracy he felt privileged to be a part of.
He was a pioneer. I'm so proud to have known him, and gotten the benefit of his work and his wisdom."
Pennsylvania Treasurer, Joe Torsella