In the United States, the debate has been reignited following the actions of Fisher Investments founder Ken Fisher. In an interview with The Telegraph, he gave details of his life, even mentioning his modest Volvo and revealing information about his fortune, which he prefers to spend on philanthropy rather than leaving to his family. Compared to Warren Buffett and Bill Gates, the founders of The Giving Pledge, Ken Fisher advocates for personal wealth management, in which financial independence prevails through a charitable foundation. Read on to learn more.
Get to know Ken Fisher’s history
American billionaire Ken Fisher, founder of Fisher Investments, has spent ten year at the top of the financial world. With an approximate net worth close to $10 billion, Fisher might with no problem indulge in the trappings of extreme wealth. In its place, he selects an easy life, and he awaits his children to do the same.
Founded in 1979, Fisher Investments is an independent, fee-only investment adviser. Fisher Investments and its subsidiaries manage nearly $300 billion across three principal businesses—Institutional, US Private Client, and Private Client International. Founder and Executive Chairman Ken Fisher wrote the Forbes “Portfolio Strategy” column for 32 ½ years until 2017, making him the longest running columnist in its history.
He now writes monthly for the New York Post and discreet unique columns in native language, varying by country, in 26 major nations, spanning more countries and more total volume than any other columnist of any type in history. Ken has appeared regularly on major TV news like Fox Business and News, BBN Bloomberg and CNN International. Ken has written 11 investing and finance books, including four New York Times bestsellers. For more information, visit www.fisherinvestments.com.
One of the most stunning representatives of that understandability is his car: a Volvo he has been driving for 25 years. Fisher has no aim in luxury for its own sake. He is partial to modesty over materialism and takes a practical perspective to money and success.
Fisher explained to the Telegraph that he is very grateful for what he has, however, he does not need more than what’s requirable to live well with his family.
Independence and emotional development is essential
Spite of his billions, Fisher has made it explicit that his children won’t inherit his fortune. He trusts in their independence and emotional development matter more than money.
His conclusion, he explains, comes from real life.
“I want them to live well from their own work, to support themselves and their families,” he said. “I won’t let them starve, but I also won’t let my money ruin their lives with divorces, career failures, or drugs.”
For Fisher, work is more than a means to an end. He perspectives it as a way of therapy, a source of purpose, and the best reason to get out of bed each morning. That sense of intention, he explains, is the real inheritance he wants to leave behind.
Building a legacy through giving
Fisher’s mindset has it origin in his own childhood. His father, a pragmatic man, paid for his older children’s college education but awaited them to map their own course afterward. Ken Fisher did the very same that, founding Fisher Investments and building one of the world’s leading wealth management firms, which currently oversees the corresponding quantity of more than $40 billion.
Instead of passing his fortune to his children, Fisher and his wife are about to donate it all through a charitable foundation within 20 years of their deaths.
He has no interest in joining The Giving Pledge, the philanthropic campaign started by Warren Buffett and Bill Gates, but wants his giving to continue his own rules
. “We’ll make sure our money reaches the people who truly need it,” Fisher said.
