Billionaire philanthropist Jim Stowers dead at 90

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KANSAS CITY, Mo. (AP) — Jim Stowers Jr., the billionaire
founder of one of the nation’s leading investment management firms who
gave away most of his fortune to fight disease, has died. He was 90.
A
joint release from the Kansas City, Mo., research firm that bears his
name says Stowers died Monday after a period of declining health.
Stowers
was a struggling mutual fund salesman in 1958 when he founded Twentieth
Century Investors Inc. in Kansas City with only two mutual funds and
$107,000 in assets.
It later became American Century Investments, one of the nation’s leading investment firms that now
manages about $141 billion.
Stowers
and his wife both successfully fought cancer. In 2000, they promised
more than $1 billion to create the Stowers Institute for Medical
Research in Kansas City.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
KANSAS CITY, Mo. (AP) — Jim Stowers Jr., the billionaire
founder of one of the nation’s leading investment management firms who
gave away most of his fortune to fight disease, has died. He was 90.
A
joint release from the Kansas City, Mo., research firm that bears his
name says Stowers died Monday after a period of declining health.
Stowers
was a struggling mutual fund salesman in 1958 when he founded Twentieth
Century Investors Inc. in Kansas City with only two mutual funds and
$107,000 in assets.
It later became American Century Investments, one of the nation’s leading investment firms that now
manages about $141 billion.
Stowers
and his wife both successfully fought cancer. In 2000, they promised
more than $1 billion to create the Stowers Institute for Medical
Research in Kansas City.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.

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