Mellody Hobson, President and co-CEO of the $13 billion money management firm Ariel Investments, on the power of paying your dues SuccessWithMoira
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The youngest of six children, Hobson was raised by a single mother who sometimes struggled to pay their bills. “A lot often went wrong,” she says. “We had a real up and down financial existence that sometimes meant we were fine, and other times meant we were evicted.” It’s no accident that Hobson ultimately found her way to the investing business. “I was desperate to understand money. Not to make it, to understand it,” says Hobson.
A fierce champion of financial literacy, Hobson remains committed to sharing her knowledge and hard-won wisdom to empower others. “When you grow up in America today, most schools don't teach you about money and investing. You could literally take a class in woodshop or auto in high school and not take a class on money,” she says of this critical education gap. “And yet, they are profoundly important things that have real implications for the life we're going to lead.
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