LINKEDINCOMMENTMORE

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 This material may not be published, broadcast, rewritten or redistributed.)

Read or Share this story: http://on.ksdk.com/1fX6mJP