Bogle founded the Vanguard Group, a mutual fund company owned by the customers. In an industry rarely known for integrity, he managed to align the interests of its shareholders with those of its clients. He started the first index mutual fund, saying it would triumph not because of management skill but because it was cheap to run. Over time, he was proved right. Lower expenses led to better returns. He worked to create a place where the average Joe could save for retirement, in funds with low minimum requirements, where stewardship beat speculation and the results are better than can be expected elsewhere.
Vanguard became the countries largest fund group by driving down the cost of investing for everyone. He didn’t become a billionaire. That money went into our pockets instead.