Billionaire Missouri philanthropist Jim Stowers dead at 90

KANSAS CITY, Mo. (AP) - Jim Stowers Jr., the billionaire founder of one of the nation's leading investment management firms who gave away most of his fortune to fight disease, has died. He was 90.

A joint release from the Kansas City, Mo., research firm that bears his name says Stowers died Monday after a period of declining health.

Stowers was a struggling mutual fund salesman in 1958 when he founded Twentieth Century Investors Inc. in Kansas City with only two mutual funds and $107,000 in assets.

It later became American Century Investments, one of the nation's leading investment firms that now manages about $141 billion.

Stowers and his wife both successfully fought cancer. In 2000, they promised more than $1 billion to create the Stowers Institute for Medical Research in Kansas City.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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