Richard Stumpf

Richard Stumpf is a famous American businessman and investor who is best known for helping to create the mutual fund industry in the United States. A mutual fund is an investment vehicle that pools money from many investors and then invests in stocks, bonds, and other assets. Richard Stumpf helped invent the idea of these pooled investments, which made it easier and cheaper for people to invest their money. By creating the mutual fund industry, Richard Stumpf helped millions of people save and invest their money to become more financially secure.