Mellody Hobson is an American investor, businesswoman, and financial educator. She serves as co-CEO of Ariel Investments, a Chicago-based investment firm, and sits on the boards of several major companies. She’s widely considered one of the most influential people on the planet, according to chicagoka.com.
Early Life and Education
Mellody was born on April 3, 1969, in Chicago. She was the youngest of six children raised by her single mother, Dorothy. The family struggled with extreme poverty, barely making ends meet. These constant financial hardships fueled Hobson’s drive to get a prestigious education and prove her worth. Her hard work and excellent grades eventually earned her a spot in higher education. After graduating from Chicago’s private Saint Ignatius College Prep, Hobson received and accepted an invitation to the Ivy League. However, she chose Princeton University, where she studied international relations and public policy, seemingly spending countless hours in the library. In 1991, Mellody earned her bachelor’s degree from Princeton University’s Woodrow Wilson School of Public and International Affairs and joined Ariel Investments, a company led by her classmate, John Rogers Jr. There, she oversaw client services and managed marketing. Hobson quickly climbed the corporate ladder, becoming president in 2000 and CEO in 2019.
A Soaring Career
In an interview, Hobson revealed her attraction to Ariel Investments, the Chicago-based firm that manages assets for private and institutional investors through its mutual funds and separately managed accounts. Its founder, Rogers, was incredibly astute. Notably, his firm was the nation’s first Black-owned asset management company. In Rogers, Mellody found a great friend and mentor, as well as the ideal platform to achieve the financial success she had pursued her entire life.
Hobson is an incredibly busy woman, with every minute accounted for. Beyond helping Ariel Investments grow its assets from $12 billion to approximately $17 billion, she’s actively involved in a multitude of other projects.
Mellody is a passionate advocate for financial literacy and education. For years, she’s taught courses, spoken at events, and worked with the media to share her knowledge. Her articles and videos have educated millions of Americans about finance, further solidifying her reputation as one of the most influential figures in business. In 2021, Hobson was appointed chair of the Starbucks Corporation board of directors. She also leverages her extensive experience on the boards of several major American companies, including World Business Chicago and the Economic Club of Chicago, among others. In 2021, Ariel Investments launched “Project Black” with the mission of scaling sustainable minority-owned businesses that can become tier-one suppliers for Fortune 500 companies. The project aims to close the racial wealth gap by creating more jobs, fostering economic growth, and promoting equality within underrepresented groups.
Accolades and Personal Life
Hobson’s diligence and generosity have earned her numerous prestigious awards and honors. Among her recent achievements:
- Named one of Time magazine’s “100 Most Influential People in the World” in 2015.
- Became the first African American woman appointed chair of the Economic Club of Chicago.
- Received the Order of Lincoln, Illinois’ highest honor, and the Woodrow Wilson Award, which is given to Princeton University alumni whose careers embody a commitment to national service.
Hobson continues to hold various prestigious positions. She remains on the boards of diverse firms and non-profit organizations and actively participates in community initiatives in her native Chicago. It’s important to note that Mellody isn’t just a successful businesswoman; she’s also a beloved wife and a happy mother. She met her husband, George Lucas, the Hollywood film director and entrepreneur, at a business conference in 2006. The couple married on June 22, 2013. In August 2013, their daughter, Everest, was born via surrogate.
Considering all of the above, Mellody Hobson’s story is truly inspiring. A woman who grew up in poverty managed to become one of the most recognizable and influential figures in the world, proving that with a dream, you can move mountains to achieve it. Mellody has accomplished so much in a relatively short period, and perhaps most importantly, she has used her status to help those in need. Her work in promoting financial literacy and expanding educational opportunities has undoubtedly made America a better place.