Rodger O. Riney (born 1945) is an American

billionaire A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. The American busi ...

and the founder of Scottrade, a

stockbroker A stockbroker is a regulated broker, broker-dealer, or registered investment adviser (in the United States) who may provide financial advisory and investment management services and execute transactions such as the purchase or sale of stock ...

age that was acquired by TD Ameritrade in 2017.

Early life

Riney was born in 1945 and was introduced to the

stock market A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, ...

by his grandparents after giving him 10 shares of a stock. Riney earned a Bachelor of Science in civil engineering and a

Master of Business Administration A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...

from the

University of Missouri The University of Missouri (Mizzou, MU, or Missouri) is a public land-grant research university in Columbia, Missouri. It is Missouri's largest university and the flagship of the four-campus University of Missouri System. MU was founded in ...

. He interned at

Edward Jones Investments Edward D. Jones & Co., L.P., (since 1995, d.b.a. Edward Jones Investments), simplified as Edward Jones, is a financial services firm headquartered in St. Louis, Missouri, United States. It serves investment clients in the U.S. and Canada, throu ...

Career

After the deregulation of the brokerage industry in 1975, Riney saw an opportunity to provide lower commission trades. In 1980, he founded Scottsdale Securities in

Scottsdale, Arizona , settlement_type = City , named_for = Winfield Scott , image_skyline = , image_seal = Seal of Scottsdale (Arizona).svg , image_blank_emblem = City of Scottsdale Script Logo.svg , nic ...

. In 1981, Riney moved to St. Louis and opened a second branch. In 1996, the company launched its

website A website (also written as a web site) is a collection of web pages and related content that is identified by a common domain name and published on at least one web server. Examples of notable websites are Google, Facebook, Amazon, and W ...

and

electronic trading platform In finance, an electronic trading platform also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products ...

. The number of trades increased by 15% per month, compounded monthly, for 39 months. Riney's management methods have been described as conservative. Scottrade was regularly featured on the list of 100 best companies to work for by ''

Fortune Fortune may refer to: General * Fortuna or Fortune, the Roman goddess of luck * Luck * Wealth * Fortune, a prediction made in fortune-telling * Fortune, in a fortune cookie Arts and entertainment Film and television * ''The Fortune'' (1931 film) ...

'', for the fifth consecutive year in 2012. In September 2017, TD Ameritrade acquired Scottrade. In March 2019, Riney's family office Lightchain invested in Arch Oncology, a cancer drug startup. He is a member of the Board of Directors of the Multiple Myeloma Research Foundation. On the Forbes 400 2019 list, he ranked #225, with a net worth of $3.6 billion.

Personal life

Riney and his wife, Paula, are members of Kirkwood Baptist Church in St. Louis County, Missouri.

Philanthropy

In the year after selling Scottrade, 2017, Riney donated $131 million to various causes. According to the '' St. Louis Post-Dispatch'', it was $200 million in 2017 donated to charity. Riney actively supports non-profit organizations, including the Alzheimer's Association. In 2019, he and his wife Paula donated $15 million to research on treatments for

Alzheimer's Alzheimer's disease (AD) is a neurodegenerative disease that usually starts slowly and progressively worsens. It is the cause of 60–70% of cases of dementia. The most common early symptom is difficulty in remembering recent events. As t ...

and

Parkinson's disease Parkinson's disease (PD), or simply Parkinson's, is a long-term degenerative disorder of the central nervous system that mainly affects the motor system. The symptoms usually emerge slowly, and as the disease worsens, non-motor symptoms beco ...

. Riney suffers from

multiple myeloma Multiple myeloma (MM), also known as plasma cell myeloma and simply myeloma, is a cancer of plasma cells, a type of white blood cell that normally produces antibodies. Often, no symptoms are noticed initially. As it progresses, bone pain, ...

and in 2017, he donated $5 million to fund research on the disease. In 2018, he donated $20 million to the

Washington University School of Medicine Washington University School of Medicine (WUSM) is the medical school of Washington University in St. Louis in St. Louis, Missouri. Founded in 1891, the School of Medicine has 1,260 students, 604 of which are pursuing a medical degree with ...

. As a result of the $20 million donation, the Paula C. and Rodger O. Riney Blood Cancer Research Initiative Fund was established. In 2020, the Boston-based Dana-Farber Cancer Institute has announced a $16.5 million gift from the Paula and Rodger Riney Foundation in St. Louis to launch a research initiative focused on multiple myeloma.

References

External links

Riney
at Myeloma research foundation {{DEFAULTSORT:Riney, Rodger O. Living people University of Missouri alumni People from Scottsdale, Arizona 1946 births People with multiple myeloma