Rodger O. Riney (born 1945) is an American

billionaire A billionaire is a person with a net worth of at least 1,000,000,000, one billion units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. It is a sub-category of the concept of the ultr ...

and the founder of

Scottrade Scottrade was an American stockbroker and electronic trading platform that operated via mobile, on the web, and at branches. In September 2017, the stock brokerage division of the company was acquired by TD Ameritrade (later merged into Charl ...

, a

stockbroker A stockbroker is an individual or company that buys and sells stocks and other investments for a financial market participant in return for a commission, markup, or fee. In most countries they are regulated as a broker or broker-dealer and ...

age that was acquired by

TD Ameritrade TD Ameritrade Holding Corporation was a stockbroker that offered an electronic trading platform for the trade of financial assets. The company was founded in 1975 as First Omaha Securities. In 2006, it acquired the United States operations of TD ...

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 a ...

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) is a professional degree focused on business administration. The core courses in an MBA program cover various areas of business administration; elective courses may allow further study in a particular ...

from the

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

. He interned at

Edward Jones Investments Edward D. Jones & Co., L.P., (Doing business as, d.b.a. Edward Jones Investments), simplified as Edward Jones, is a financial services firm headquartered in St. Louis, Missouri. Founded in 1922, Edward Jones pioneered the branch-office brokerage ...

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 Scottsdale is a city in eastern Maricopa County, Arizona, United States, and is part of the Phoenix metropolitan area. Named Scottsdale in 1894 after its founder Winfield Scott (chaplain), Winfield Scott, a retired Chaplain Corps (United States ...

. In 1981, Riney moved to

St. Louis St. Louis ( , sometimes referred to as St. Louis City, Saint Louis or STL) is an independent city in the U.S. state of Missouri. It lies near the confluence of the Mississippi and the Missouri rivers. In 2020, the city proper had a populatio ...

and opened a second branch. In 1996, the company launched its

website A website (also written as a web site) is any web page whose content is identified by a common domain name and is published on at least one web server. Websites are typically dedicated to a particular topic or purpose, such as news, educatio ...

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 * Fate * Fortune, a prediction made in fortune-telling * Fortune, in a fortune cookie Arts and entertainment Film and television * ''The Fortune'' (19 ...

'', for the fifth consecutive year in 2012. In September 2017,

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 The ''Forbes'' 400 or 400 Richest Americans is a list published by ''Forbes'' magazine of the wealthiest 400 American citizens who own assets in the U.S., ranked by net worth. The 400 was started by Malcolm Forbes in 1982 and the list is ...

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 St. Louis County is located in eastern Missouri. It is bounded by the City of St. Louis and the Mississippi River to the east, the Missouri River to the north, and the Meramec River to the south. As of the 2020 census, the population was 1, ...

Philanthropy

In the year after selling Scottrade, 2017, Riney donated $131 million to various causes. According to the ''

St. Louis Post-Dispatch The ''St. Louis Post-Dispatch'' is a regional newspaper based in St. Louis, Missouri, serving the St. Louis metropolitan area. It is the largest daily newspaper in the metropolitan area by circulation, surpassing the '' Belleville News-Democra ...

'', it was $200 million in 2017 donated to charity. Riney actively supports non-profit organizations, including the

Alzheimer's Association The Alzheimer's Association is a nonprofit voluntary health organization that focuses on Alzheimer's disease care, support and research. History Jerome H. Stone founded the Alzheimer's Association with the help of several family support groups ...

. 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 and the cause of 60–70% of cases of dementia. The most common early symptom is difficulty in remembering recent events. As the disease advances, symptoms can include problems wit ...

and

Parkinson's disease Parkinson's disease (PD), or simply Parkinson's, is a neurodegenerative disease primarily of the central nervous system, affecting both motor system, motor and non-motor systems. Symptoms typically develop gradually and non-motor issues become ...

. 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 antibody, antibodies. Often, no symptoms are noticed initially. As it progresses, bone ...

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 (WashU Medicine) is the medical school of Washington University in St. Louis, located in the Central West End neighborhood of St. Louis, Missouri. Founded in 1891, the School of Medicine shares a ca ...

. 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 Washington University in St. Louis people