[3], In May 1974, in the depths of the worst bear market since the 1930s, Sinquefield and Roger Ibbotson made a brash prediction: The Dow Jones Industrial Average, floundering in the 800s at the time, would hit 9,218 in 1998 and 10,000 by November 1999. [2] In 2012, he spent over $2 million to collect signatures to eliminate Missouri's corporate and personal income taxes and replace them with a sales tax. [37] Since 1861, the police department had been run by a five-person board that included four gubernatorial appointees. This page was last edited on 11 October 2017, at 20:53. [45], Sinquefield and his family donate funds to a wide variety of organizations through the Sinquefield Charitable Foundation. [49], Sinquefield is a director of St. Vincent Home for Children in St. Louis, and a life trustee of DePaul University. [48] Sinquefield has contributed to the St. Vincent Home for Children. "[53] In August 2010, Sinquefield provided seed funding to move the World Chess Hall of Fame to St. Louis, citing the Chess Club's presence and reputation. Sinquefield is, in fact, the biggest spender in Missouri politics. Sinquefield told the BBC that the school's regimentation taught him self-discipline. [35] In 2014, Missouri lowered its income tax rate. "[4] He pledged to continue contributing money to conservative causes, saying "When Dimensional gets sold, that's when I'll really be able to give money away."[2]. [3] Dubbed the Kansas experiment, this policy decreased state revenues by hundreds of millions of dollars;[27] caused spending on roads, bridges, and education to be slashed;[28][29] and failed to lift Kansas' below-average economic growth. Rex Sinquefield is a self-made billionaire in St. Louis. [6], Sinquefield worked at the American National Bank of Chicago, developing, in 1973, the first S&P 500 passively managed index fund. Rex Sinquefield grew up in a St. Louis Catholic orphanage. In his bid to privatize the St. Louis airport, billionaire Rex Sinquefield jumped in bed with a consultant with mob ties, according to the feds. He is the Executive Chairman of Dimensional Fund Advisors, which he co-founded with Rex Sinquefield St. Louis Magazine said he showed people around the orphanage now called St. Vincent's Home for Children. The reason? [3], He had 18 cleft palate operations before age five. [3], Sinquefield is opposed to campaign finance limits and disclosure rules, telling the Wall Street Journal that, "by my engagement, as well as others like me, voters are provided with more choices, not less. As of June 30, 2018, it managed more than $582 billion in assets. [12][5], With Yale School of Management professor Roger G. Ibbotson, he co-wrote the 1989 book Stocks, Bonds, Bills and Inflation, a study of stock market returns. The Sinquefield-funded Missouri Club for Growth has donated substantial sums to the opponents of four state House … [7] When they were teenagers, Sinquefield and his brother returned home to live with their mother, who resented the city's 1% wage tax. The Missouri Council for a Better Economy was started by Rex Sinquefield, a billionaire seeking to alter tax policy in his favor. Largely bankrolled by billionaire Rex Sinquefield, the group is preparing ballot language for a constitutional amendment that would superimpose a new type of … Three years after graduating from high school, he left a Catholic seminary to pursue a more secular path. He has a passion for protecting his wealth, cutting public services, and reducing taxes. He lived in an orphanage. [10] During the Vietnam War, he served as a “high-end gopher” in the finance corps at Fort Riley, as he put it. Having pulled himself up from rags to riches, he thinks that everyone else should do the same. Sam Brownback traveled across the border earlier this year to Missouri, where he touted the very tax cuts that … He lived in an orphanage. [22], In 2014 and 2015, he donated $1 million to Republican Bev Randles' 2016 campaign for Lieutenant Governor of Missouri[23] and three quarters of a million to Kurt Schaefer, a Republican candidate for Attorney General. Thanks also to … He has no compassion for those less fortunate than himself. The university’s decision in August 2018 to accept a $50 million donation from St. Louis billionaire Rex Sinquefield, a donation that Rapach and many of his colleagues say violates faculty governance and exerts undue influence over academic matters, including hiring. [4], Sinquefield also gave money to the group Kansans for No Income Tax which helped governor Sam Brownback lower the state income tax in 2012. He grew up poor, unlike most of today's billionaires. [9] He studied to be a priest at the Diocesan Seminary at Cardinal Glennon College in St. Louis. … “Attacking teachers … "Mizzou New Music Initiative - School of Music - College of Arts and Science - University of Missouri", http://www.governing.com/topics/politics/gov-rex-sinquefield-missouri.html, https://en.wikipedia.org/w/index.php?title=Rex_Sinquefield&oldid=1007992461, American chief executives of financial services companies, University of Chicago Booth School of Business alumni, Articles with dead external links from January 2017, Wikipedia articles with style issues from May 2019, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 21 February 2021, at 00:27. [31], Sinquefield also has repeatedly backed measures to repeal the earnings taxes of St. Louis and Kansas City, Missouri. The Show-Me Institute is a member of the national State Policy Network. Erin Stubblefield/AP Billionaire mega-donor Rex Sinquefield has put his imprint on Missouri politics ever since the state removed limits on campaign donations. Jeff Aboussie, a consultant connected to billionaire Rex Sinquefield's scheme to privatize Lambert International Airport, has Mafia ties dating back to the 1980s, STLReporter has learned. We identify with his conservative values. Aronian makes no secret of the fact that he enjoys financial assistance from billionaire Rex Sinquefield, co-founder of the Saint Louis Chess Club. Rex Sinquefield's Crusade Against Income Taxes. [13], Dimensional Fund Advisors' investment strategy has been said to create an optimal portfolio consisting of various funds that emulate different style and size attributes of various securities markets worldwide, so that one fund might behave like the S&P 500, another might correlate with just the value stocks in the S&P 500, while a third might emulate the performance of all small-cap stocks. He quoted an article claiming that the Ku Klux Klan came up with the public school system to harm African-American children's development. [10], In 2005, he retired from DFA because he was “bored” and returned to St. Louis, where he became involved in politics and philanthropy. [24] Sinquefield has also donated to Missouri candidates Shane Schoeller, Chris Koster, and Sarah Steelman, as well as to the 2016 gubernatorial campaign of Catherine Hanaway. Really, how exactly does that work? [52] He advises the Archdiocese of San Diego on finance.[5]. [5] It has been labeled libertarian,[14][15][16] conservative,[17][18] and free-market. I focus on pro-growth, free market tax reform solutions in states. If he was truly interested in body cameras for police officers, he could have funded a program by now. He grew up poor, unlike most of today’s billionaires. Sinquefield is rumored to be a billionaire, however his name has not appeared on the Forbes annual list of billionaires, but Forbes editor Kerry Dolan remarked that “We have his name as a suspect.”He owns a $1.7 million mansion in St. Louis that includes a private elevator, a 977 acre property in Westphalia, Missouri, and a Bentley. “Colleges and universities are supposed to promote public good. An educational organization, its mission is to "maintain a formal program of instruction to teach the game of chess and to promote and support its educational program through community outreach and local and national partnerships to increase the awareness of the educational value of chess. Its purpose is to share with our fellow Americans his inspiring background, education, involvement with the financial markets, his philosophies of sucess, the charities he supports, and how he fights for the constitutional rights of Americans. St. Louis has become the nation’s hotbed of chess with the backing of billionaire financier Rex Sinquefield, founder of the St. Louis Chess Club. And what they designed was the public school system. He… In recent years he supported the successful effort to return local control of the St. Louis Police Department to the city itself. It would also allow Kansas City and St. Louis voters to vote on whether to retain their earnings taxes. The university’s decision in August 2018 to accept a $50 million donation from St. Louis billionaire Rex Sinquefield, a donation that Rapach and many of his colleagues say violates faculty governance and exerts undue influence over academic matters, including hiring. He gave nearly $1.8 million to Grow Missouri, $850,000 to the anti-union teachgreat.org, and another $750,000 to prop up the Missouri Club for Growth PAC. … In 2007, Rex Sinquefield opened the Chess Club and Scholastic Center of Saint Louis, a non-profit organization. Even though 2013 was not an election year, Sinquefield disclosed more than $3.8 million on political spending[4]: Sinquefield spent $21 million on Missouri politics in 2012. [8], He graduated from Bishop DuBourg High School in 1962. He has a passion for protecting his wealth, cutting public services, and reducing taxes. Three southwest Missouri superintendents are wary of St. Louis billionaire Rex Sinquefield's education agenda and influence, saying Monday that public education funding, staffing, and curriculum development should be handled by those in the community. A decade after returning to the state with a fortune he earned managing money in California, 70-year-old Rex Sinquefield has become a powerful presence in … [33] In 2010, the committee placed a statewide initiative on the Missouri ballot. "Group seeks to swap state income tax for sales tax", https://www.forbes.com/sites/travisbrown/2014/05/09/missouri-legislature-overrides-veto-joins-midwest-tax-cut-movement/#27c91ce33329, "House committee passes local control measure; Sinquefield backs it", "seMissourian.com: Opinion Column: Why you should care about who controls the St. Louis Police Department (02/14/11)", "Politics & Government - Springfield News-Leader - news-leader.com", "Missouri Proposition A 2012 - The Local Control Initiative", "Sinquefield's latest cause: Local control for St. Louis Police", "Broad Support - A Safer Missouri - Missouri Proposition A 2012 - The Local Control Initiative", "Missouri Democrats Call for Local Control of STLPD", http://enr.sos.mo.gov/ENR/Views/TabularData.aspx?TabView=StateRaces^Federal%20/%20Statewide%20Races^011656688155. [3], Jacob Fenton, Keenan Steiner & Jake Harper, Sunlight Foundation, ". He is active in Missouri politics, his two main interests being rolling back the income tax and increasing public funding for charter schools. Missouri billionaire Rex Sinquefield on income tax, gubernatorial race Published May 18, 2016 at 10:28 PM CDT St. Louis businessman and financier Rex Sinquefield says he’s disappointed that state lawmakers did not prioritize eliminating Missouri’s state income tax before adjourning the legislative session on Friday. Rex also has economic views that align with the libertarian small government ideology of his Nobel Prize winning peers Milton Friedman and James M. Buchanan. One effort spearheaded by the St. Louis City NAACP and the St. Louis-Kansas City Carpenters Regional Council, called St. Louis Rising, is heavily funded by local billionaire Rex Sinquefield… Its purpose is to share with our fellow Americans his inspiring background, education, involvement with the financial markets, his philosophies of sucess, the charities he supports, and how he … [32], He is the primary financial supporter of the Let Voters Decide committee. According to Aronian, Sinquefield "repeated his offer to move to the United States every year." Sinquefield has almost single … He… Jeff Aboussie, a consultant connected to billionaire Rex Sinquefield’s scheme to privatize Lambert International Airport, has Mafia ties dating back to the 1980s, STLReporterhas learned. Well, not exactly: In the 1970s, he pioneered the first index funds, investment vehicles that strictly track a … [33] Missourians passed proposition A with a large margin – 68.4% YES / 31.6% NO (1,294,911 YES votes to 598,010 NO votes). In the middle of a speech in which he demanded an end to teacher tenure, retired billionaire Rex Sinquefield unleashed the following bombshell: Rex Sinquefield SourceWatch 2020. David Gilbert Booth (born c. 1946) is an American businessman, investor, and philanthropist. He lived in an orphanage. But, who is Rex Sinquefield? [5] A group he co-founded, Now Or Never PAC, spent $800,000 on a last-week ad for Senate candidate Todd Akin -- Sinquefield gave the PAC $1 million in 2012. [2], The Progressive magazine named Sinquefield "the biggest spender in Missouri politics. "The Volokh Conspiracy – Eminent Domain in Missouri", "Rex Sinquefield's Chess Mecca in the CWE – St. Louis News – Daily RFT", https://archive.is/20081012051710/http://www.stltoday.com/blogzone/political-fix/political-fix/2008/04/tax-break-for-aircraft-firm-flies-through-house/. [6], Sinquefield focuses many of his large financial contributions in Missouri on private school vouchers and campaign contribution limits. This blog is all about showcasing Mr. Rex Sinquefield, a billionaire resident of St. Louis and a retired investment banker. Called Proposition A, it would prevent all Missouri communities except Kansas City and St. Louis from imposing earnings taxes. No, this governance monster was created in the political laboratory of a billionaire named Rex Sinquefield, a native St. Louisan who left town and amassed an enormous fortune with theories on how to beat the stock market by indexing the S&P 500. Having pulled himself up from rags to riches, he thinks that everyone else should do the same. Jan 09, 2021 Rex Sinquefield is a billionaire who is deeply vested in Missouri politics and He pens his own twice-monthly blog at Forbes, entitled "A Taxing State of Affairs. This blog was designed by supporters of billionaire Rex Sinquefield. Rex Sinquefield's stories. Rex Sinquefield is a self-made billionaire in St. Louis. He co-founded Dimensional Fund Advisors in 1981, which now manages more than $200 billion in assets. [46], In 2009, Sinquefield and his wife gave $1 million to the University of Missouri's School of Music. Rex … Billionaire Rex Sinquefield, of Ozarks County, is Missouri’s Koch Brothers and Mercer Family.If he was truly interested in body cameras for police officers, he could have funded a program by now. Based in Clayton, Show-Me is a think tank that commissions studies on public-policy issues. St. Louis has become the nation’s hotbed of chess with the backing of billionaire financier Rex Sinquefield, founder of the St. Louis Chess Club. Working with top-secret records, he found it “easy, boring, safe and a terrible waste of manpower.”[5] He has a business degree from Saint Louis University and an MBA from University of Chicago. (His story was well told in these pages in February 2009 and can be accessed here.) He pens his own twice-monthly blog at Forbes, entitled "A Taxing State of Affairs." He grew up poor, unlike most of today's billionaires. Rex Sinquefield is the author of a renowned book about the stock market. [11] Sinquefield advocates replacing Missouri's and Kansas' income tax with a state sales tax[21] on things like childcare, restaurants, and hotels. Read More . "[2], He supports abolishing tenure for public school teachers. [39] A Safer Missouri endorsed state legislation in favor of local control,[40] along with a ballot initiative filed with the Missouri Secretary of State, which will be pursued if the legislative efforts fail, according to a spokeswoman for A Safer Missouri.
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