The Man Who Taught Mutual Funds How to Invest in Startups
T. Rowe Price Fund Manager Henry Ellenbogen. Photographer: Michael Short/Bloomberg
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By the age of 6, Henry Ellenbogen knew he wanted to be an investor. Not the kind he is today at T. Rowe Price Group Inc., where he manages $18.7 billion. He wanted to invest in an Atari game console.
It was 1979, and Ellenbogen persuaded his two older sisters to chip in for the $200 device and named himself in charge of the syndicate. Growing up with a single mom, who worked as a nursing-home administrator in Miami, he had to be creative to keep up with the affluent kids in the neighborhood.