J. Joseph Ricketts (born July 16, 1941) is the founder, former CEO and former chairman of TD Ameritrade, one of the largest online discount brokerages in the world, based in Omaha, Nebraska.[1] In addition to serving as a Director of TD Ameritrade, Ricketts owns and operates several early stage companies, including DNAinfo.com, The American Film Company, High Plains Bison, and The Lodge at Jackson Fork Ranch.
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Ricketts was born and raised in Nebraska City, Nebraska and obtained a bachelor's degree from Creighton University in Omaha, Nebraska in 1968.[2] Ricketts is married with four children. In 2009, Ricketts ranked #371, according to Forbes Magazine, of the 400 wealthiest Americans, with a net worth of $1 billion. He currently resides in Little Jackson Hole, Wyoming.[3]
In 1975, Ricketts and a few partners formed First Omaha Securities, a retail securities brokerage firm that through mergers and acquisitions grew into TD Ameritrade.[4]
Ricketts announced that he would retire from the TD Ameritrade board to concentrate on entrepreneurship and philanthropy, effective October 20, 2011.[5]
In 2004, Ricketts founded High Plains Bison, a retailer of natural bison meat. In addition to online and offline sales channels, High Plains Bison is the official bison vendor at Chicago’s Wrigley Field.[6] Some of the bison are raised on a Wyoming ranch owned by Ricketts. A four-bedroom lodge named The Lodge at Jackson Fort Ranch is located on the same property.[7][8]
In 2008, Ricketts founded The American Film Company, which produces feature films about true stories from American history.[9] The Conspirator is a 2010 historical drama film directed by Robert Redford. It served as the debut film of The American Film Company.[10][11]
In 2009, Ricketts founded DNAinfo.com, a digital news service that currently covers neighborhood news in New York City.[12][13]
In October 2009, the Ricketts family acquired a 95 percent controlling interest in Major League Baseball’s Chicago Cubs and Wrigley Field, as well as 25 percent of Comcast Sportsnet Chicago. The Ricketts family represents the eighth ownership group in the 133-year history of the team. While Ricketts is not directly involved in the team’s operations, his son, Tom Ricketts, is Cubs chairman and his three other children (Pete, Laura and Todd) are on the board of directors.[14] In November 2010, the Cubs announced a plan to seek $200 million in state-backed bonds for renovations to Wrigley Field.[15]
In 2010, Ricketts led a campaign against special-interest earmarks and wasteful spending in the federal government.[16][17] Ricketts founded a nonpartisan organization called Taxpayers Against Earmarks and classified every Member of Congress as either a spending “hero” or “hooligan.”[18] Ricketts has been credited with convincing Members of Congress to adopt a moratorium on earmarks.[19][20] Taxpayers Against Earmarks changed its name to Ending Spending in 2011.[21]
Ricketts established and funded The Ending Spending Fund, a political action committee, in 2010.[22] The Ending Spending Fund spent over $1 million sponsoring independent advertisements in several Congressional races. The goal of the advertising expenditure was to highlight incumbents’ earmark-related policies.[23][24] The Ending Spending Fund spent the largest amount of its money on the United States Senate election in Nevada, 2010 in an effort to defeat Senate Majority Leader Harry Reid. Although not required by law, Ricketts willingly disclosed his identity due to his belief in transparency.[25]
Ricketts served on the board of trustees of the American Enterprise Institute from 1999-2007.[26]