Joe Ricketts

Joe Ricketts
Ricketts in 2018
Joe Ricketts
Born	John Joseph Ricketts 7/16/1941
Birthplace	Nebraska City, Nebraska, U.S.
Nationality	American
Occupation	Businessman, MLB owner
Title	Owner, Chicago Cubs
Known for	Founding TD Ameritrade
Education	Creighton University (BA)
Children	4

John Joseph "Joe" Ricketts (born July 16, 1941) is an American businessman, investor, and philanthropist who founded TD Ameritrade, one of the largest online discount brokerage firms in the United States. Born into modest circumstances in Nebraska City, Nebraska, in a childhood home that lacked television and air conditioning, Ricketts built a financial services empire that transformed the retail brokerage industry by making stock trading accessible and affordable for individual investors. After stepping down from leadership of the firm he built, Ricketts pursued a wide range of business ventures, including the hyperlocal news website DNAinfo.com, High Plains Bison, The Lodge at Jackson Fork, and The American Film Company. In October 2009, Ricketts and his family became the owners of the Chicago Cubs of Major League Baseball, placing one of the sport's most storied franchises under their stewardship. Ricketts has also been a significant figure in American political spending and philanthropy, channeling resources into anti-earmark campaigns, conservative political causes, and charitable foundations focused on art, education, conservation, and religious retreat. As of 2024, Forbes estimated his net worth at approximately US$4.1 billion.

Early Life

Joe Ricketts was born on July 16, 1941, in Nebraska City, Nebraska. He grew up in humble conditions; his childhood home lacked both television and air conditioning. Ricketts later reflected that this upbringing instilled in him a belief in the value of honest work and self-reliance. Nebraska City, a small community in the southeastern corner of the state along the Missouri River, provided Ricketts with a grounding in Midwestern values that he would carry into his business career.

Ricketts was raised in a family of modest means. The environment of rural Nebraska in the 1940s and 1950s shaped his worldview and entrepreneurial drive. He has spoken publicly about the formative influence of his early years, crediting the discipline and work ethic he developed during childhood as foundational to his later success in the financial services industry.

Details about his parents and siblings remain limited in the public record. However, the Ricketts family's roots in Nebraska have remained a central part of Joe Ricketts' identity; he maintained close ties to the state throughout his business career and philanthropic activities, including plans for a major religious retreat center in Sarpy County, Nebraska.

Education

Ricketts attended Creighton University, a Jesuit institution in Omaha, Nebraska, where he earned a Bachelor of Arts degree. Creighton's emphasis on service and ethical leadership reportedly influenced Ricketts' approach to both business and philanthropy. The university provided him with a foundation in the liberal arts and business principles that he would later apply to founding one of America's largest discount brokerage firms.

Career

Founding of TD Ameritrade

Joe Ricketts' most significant business achievement was the founding of what became TD Ameritrade, one of the largest electronic trading platforms for retail investors in the United States. Ricketts entered the brokerage industry at a time when stock trading was dominated by full-service firms that charged high commissions, effectively limiting market participation to wealthier investors. Recognizing an opportunity to democratize access to the stock market, Ricketts founded a discount brokerage firm that leveraged emerging technology to offer lower-cost trades to individual investors.

The company evolved through several corporate iterations and mergers over the decades, ultimately becoming TD Ameritrade, a publicly traded corporation headquartered in Omaha, Nebraska. Under Ricketts' leadership as founder, CEO, and chairman, the firm grew into a major force in the financial services industry, managing billions of dollars in client assets and processing millions of trades. Ricketts served as the company's chairman before stepping down, though his legacy as the firm's creator remained central to its corporate identity.

The success of TD Ameritrade made Ricketts a billionaire and provided the financial foundation for his subsequent business ventures, political activities, and philanthropic endeavors.

Chicago Cubs Ownership

On October 30, 2009, the Ricketts family completed the purchase of the Chicago Cubs, one of the most iconic franchises in Major League Baseball. The acquisition placed the Cubs and their historic home, Wrigley Field, under the stewardship of the Ricketts family. The purchase was widely covered in the sports and business media, as the Cubs had been owned by the Tribune Company and the sale marked a significant transition for the franchise.

The four children of Joe Ricketts — Tom Ricketts, Laura Ricketts, Pete Ricketts, and Todd Ricketts — took on varying roles in the ownership and management of the team. Tom Ricketts became the chairman of the Chicago Cubs, serving as the family's primary representative in the day-to-day operations of the franchise.

The Ricketts ownership era oversaw a period of significant change for the Cubs and Wrigley Field. The family's involvement in the franchise extended beyond simple ownership, encompassing renovations to the ballpark and efforts to build a competitive roster. The Ricketts family's ownership of the Cubs placed them in the national spotlight, connecting their Nebraska-based business empire to one of America's largest sports markets in Chicago.

Laura Ricketts became notable as the first openly gay owner of a major professional sports team in the United States, a fact that added an additional dimension of public interest to the family's ownership of the Cubs.

Media Ventures

Ricketts pursued several ventures in the media industry following his departure from TD Ameritrade. He founded DNAinfo.com, a hyperlocal news website that covered neighborhood-level news in major American cities, including New York and Chicago. The site employed journalists to cover community-level stories that were often overlooked by larger metropolitan news outlets, reflecting Ricketts' interest in providing local news coverage.

In January 2021, Reuters reported that Ricketts was launching a new national news outlet intended to deliver news "without opinion or bias," further demonstrating his interest in the media landscape and his belief that existing outlets were failing to meet the informational needs of the public.

Ricketts also founded The American Film Company, a production company dedicated to making films based on true stories from American history. One of the company's notable productions attracted attention at the Toronto International Film Festival, with a film involving Robert Redford being picked up for distribution.

Bison Ranching and Wyoming Ventures

Beyond financial services and media, Ricketts invested in agricultural and hospitality ventures in the American West. He established High Plains Bison, a bison ranching operation, and The Lodge at Jackson Fork, a ranch and retreat property in Wyoming's Upper Hoback Valley.

As of January 2026, Ricketts' Jackson Fork Ranch was home to a herd of 17 white bison, a rare and culturally significant variety of the American bison. The white bison have spiritual importance to many Native American tribes, and Ricketts expressed personal attachment to the animals and their place on the ranch.

The Lodge at Jackson Fork was recognized by Time magazine as a notable travel destination, and the property was listed on the Yellowstone Geotourism initiative as a destination that embodied the heritage and natural character of the Greater Yellowstone region.

Ricketts' presence in the Teton region of Wyoming placed him among a growing number of billionaires who have established residences and businesses in the area. A 2026 New York Times article on the concentration of wealth in Wyoming highlighted Ricketts as one of the prominent figures shaping the region's economic and social landscape.

Political Activities

Joe Ricketts emerged as a significant figure in American political spending, particularly in the area of campaigns against congressional earmarks and in support of conservative political causes. He became a top-ten "super donor" in American politics, according to the Center for Public Integrity, which profiled him as an online brokerage billionaire who became a major political contributor through a substantial spending effort.

Anti-Earmark Campaigns

In 2010, Ricketts became a prominent advocate for the elimination of congressional earmarks — the practice by which individual members of Congress direct federal spending to specific projects in their districts. He helped fund the Taxpayers Against Earmarks campaign and the Ending Spending Fund, a super PAC that targeted members of Congress from both parties who supported earmark spending.

The Ending Spending Fund ran television advertisements targeting politicians over their earmark records. One notable ad campaign targeted Harry Reid, then the Senate Majority Leader, over his support for earmarks. Ricketts' anti-earmark efforts were covered by multiple national outlets and positioned him as a new force in political activism among wealthy donors.

FactCheck.org examined the claims made by the Ending Spending Action Fund in its political advertisements, providing independent analysis of the group's assertions about targeted politicians' records.

Broader Political Involvement

Ricketts' political activities extended beyond the earmark issue. A 2012 Fortune profile described him as "the new billionaire political activist," documenting his growing influence in Republican politics and conservative causes. In 2012, a proposal linked to Ricketts for an advertising campaign that would have highlighted Barack Obama's relationship with Jeremiah Wright attracted significant media attention and controversy. Slate reported on the proposal, which Ricketts ultimately distanced himself from after its details became public.

Talking Points Memo profiled Ricketts in the context of his political spending, examining his background and motivations as a political donor. The American Enterprise Institute also engaged with Ricketts' political perspectives, further indicating his connections within conservative intellectual and policy circles.

The Ricketts family's political involvement has extended to the next generation. Joe Ricketts' son Pete Ricketts served as Governor of Nebraska and subsequently as a United States Senator. In July 2025, Dan Osborn announced an independent Senate bid in Nebraska that would potentially challenge Pete Ricketts, further keeping the Ricketts name in the political spotlight.

Philanthropy

Ricketts has directed significant resources toward philanthropic activities through several foundations. The Ricketts Art Foundation supports the arts, while the Opportunity Education Foundation focuses on expanding access to education. The Ricketts Conservation Foundation addresses environmental and conservation causes, reflecting Ricketts' interest in the natural landscapes of the American West, including his bison conservation work at Jackson Fork Ranch.

One of Ricketts' most prominent philanthropic projects is The Cloisters on the Platte, a religious retreat center that he envisioned for Sarpy County, Nebraska. The retreat was conceived as a space open to people of all faiths, designed to provide opportunities for reflection and spiritual renewal. Ricketts' plans for the retreat center reflected both his Catholic faith, shaped in part by his education at Creighton University, and his desire to give back to the Nebraska community where he grew up.

Personal Life

Joe Ricketts is married and has four children: Tom Ricketts, Pete Ricketts, Laura Ricketts, and Todd Ricketts. The Ricketts family has maintained strong ties to Nebraska while also establishing significant presences in Chicago, through their ownership of the Cubs, and in Wyoming, through Joe Ricketts' ranching and hospitality ventures.

Tom Ricketts serves as chairman of the Chicago Cubs. Pete Ricketts entered politics, serving as Governor of Nebraska and later as a United States Senator. Laura Ricketts has been recognized as the first openly gay owner of a major American professional sports team. Todd Ricketts has been involved in both the family's business interests and in Republican political fundraising.

Ricketts has maintained residences in Nebraska and Wyoming. His Jackson Fork Ranch in the Upper Hoback Valley of Wyoming serves as both a personal retreat and a business operation, housing his herd of white bison and operating The Lodge at Jackson Fork as a hospitality venue.

Legacy

Joe Ricketts' legacy spans several domains of American life. In the financial services industry, his founding of TD Ameritrade helped pioneer the model of low-cost electronic trading that reshaped how ordinary Americans participate in the stock market. The firm he created grew from a small discount brokerage into one of the largest electronic trading platforms in the country, handling millions of transactions and managing billions in assets before its eventual acquisition by Charles Schwab.

In professional sports, the Ricketts family's ownership of the Chicago Cubs placed them at the helm of one of baseball's most beloved and historic franchises. The family oversaw a period that included significant renovations to Wrigley Field and efforts to build a championship-caliber team.

In politics, Ricketts helped define a new era of super donor influence in American elections, channeling his wealth into campaigns against earmarks and in support of conservative candidates and causes. His family's political influence extended further through his son Pete Ricketts' career in Nebraska governance and the United States Senate.

Ricketts' philanthropic foundations continue to operate across art, education, conservation, and religious retreat, reflecting the diverse interests that have characterized his post-business career. His bison ranching operations in Wyoming, particularly the maintenance of a rare herd of white bison, represent a personal commitment to conservation and to the cultural and ecological heritage of the American West.