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Joe Mansueto —
born on September 03, 1956,
Joseph Daniel Mansueto is an American billionaire entrepreneur; the founder, majority owner and CEO of Morningstar, Inc... (wikipedia)
Once you create a loyal customer base, it's tough for a competitor to take that away.
I thought a company that provides mutual-fund information could be a great business, because you could construct an effective moat by building large financial databases and customer lists and a strong brand name.
I'm trying to set a good example. I don't need to take a high salary, which would impede the success of Morningstar.
As I get older, I increasingly value free time that's completely free of appointments. Time to think, time to reflect, time to just hang out with my wife and kids.
To me, money is independence. It gives you freedom to do what you really want to do. It allows you to not be dependent on anyone or anything, and so you can be yourself and follow your passion.