Jim Stowers, founder of American Century Investments, shares how innovation and determination allowed him to achieve his dreams
Kansas City, Mo. – Millionaires, or even billionaires, next door are ordinary in America today. But, billionaires who give away most of their fortune are not. Jim Stowers is extraordinary.
Stowers’ determination, innovative ways of thinking and generosity led him to:
- found one of the country’s leading multi-discipline, global asset investment management firms,
- create an internationally known medical research institution with his own fortune,
- earn a ranking by Forbes Magazine as one of the wealthiest people in America, and
- be recognized by Business Week Magazine as one of the country’s top philanthropists.
In the spring of 2007, Stowers will share his lifetime experiences in his autobiography,The Best is Yet to Be. The book provides a fascinating, behind-the-scenes perspective on:
- The success of American Century Investments, a multi-discipline, global asset management firm. Stowers, along with other investors, started the company in 1958 with $107,000.
- The unique endowment of the Stowers Institute for Medical Research. Only a small percentage of the Institute’s combined $2 billion endowments from Jim and his wife Virginia is spent each year, allowing the remaining amount to appreciate in value, growing over time and making the institute self-funding.
“As I’ve reflected on what I have learned through the years, I am convinced that anyone – and I mean anyone – can become what they are absolutely determined to be,” said Stowers. “My hope for this book is that people will take what I have learned and apply it accordingly to their own lives.”
Humble Business Beginnings
In 1958, Stowers founded Twentieth Century Investors, Inc. (now American Century Investments) in Kansas City, Mo. to help people improve their financial positions. Today, the company employs 1,800 people and manages assets of approximately $100 billion.
Commitment to Research
In 1994, as cancer survivors, Stowers and his wife Virginia founded Stowers Institute for Medical Research. Over the next seven years, they donated nearly their entire fortune to establish the Institute’s combined endowments, currently valued at approximately $2 billion. Stowers Institute scientists seek answers to some of the most important questions of human biology, health, and disease. Stowers’ cutting-edge philosophies on hiring the best, building teams, and funding this significant initiative have helped the institute become a leader in basic, biomedical research. Its goal is to provide answers that create long-term solutions to gene-based diseases.