Chicago Tribune He founded Driehaus Capital Management in 1982. After the back-to-back Category 5 hurricanes that devastated the territory in 2017, Driehaus set upa $250,000 matching grantthrough CFVI, which was met. Grants are typically made through coalitions and alliances to encourage programming designed to broaden civic participation in the cultural life of the city. He credited the sisters with teaching him that you have to continue to learn your whole life, you have to be responsible for your own actions, and you have to give something back to society. Afterwards, he went on to St. Ignatius College Prep and DePaul University. Investment manager and longtime Virgin Islands resident and benefactor Richard Driehaus died on Tuesday in Chicago. The Richard H. Driehaus Charitable Lead Trust, in collaboration with INTBAU, established a competition to recover the forgotten architectural heritage of Spanish towns. Upstairs are bedrooms and a third-floor ballroom that will be used for special exhibitions. Three years ago, Driehaus donated $3,000 to Junkins' daughter, Katie, then a senior at St. Ignatius. The New York Times A home would not be . It has since grown in reputation to gain status as a premier award in architectural circles, even as architectural elites continue to shun, and often even hold in contempt, the classical tradition. Driehaus has more than repaid the debt. Mr. Driehaus, 78, died Tuesday night at Northwestern Memorial Hospital, Boufis said. The Cubs depth in the upper levels of their farm system is strong on the hitting side but taking blows on the pitching side. Our wealthiest socialites and marshals of high culture are characterized by ugliness: moral, aesthetic, and cultural uglinessan altogether tasteless bunch, often enough. An odd thing happened when he was 13, howeverodd, at least, by the standards of a teenagerwhen he suddenly became obsessed with the stock market. Both individually, and through the work of The Richard H. Driehaus Foundation and the Richard H. Driehaus Charitable Lead Trusts, he supported an array of different organizations and initiatives including programs that help working people avoid poverty, programs in architecture and design, music and dance, fashion, theatre, and historicpreservation of architectural landmarks. Driehaus was born and raised on Chicagos Southwest Side, where he grew up in a classic octagon-front bungalow in the Brainerd neighborhood. We know that informed communities are empowered ones. Archeworks Richard Driehaus and Inese Romanovska. Historic Chicago Bungalow Association Its not about any one object. The opulence at times overwhelms. Yet this self-made money manager is now best known for applying the skills of a champion . For example, Driehaus refused to fight the recent preservation battle to save and restore the architect Ludwig Mies van der Rohes Farnsworth House in suburban Plano, by most accounts one of the Chicago areas most important modernist structures. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. The theme of the party was historic circuses, and he was dressed in a custom-tailored ringmasters costume. His Lake Geneva estate, for example, features a deluxe playground in the form of a carefully detailed child-size village, complete with houses, stores, and a working soda fountain. The $100,000 award, which is administered by the University of Notre Dames School of Architecture, is the classical equivalent of the Pritzker Prize. He was also highlighted alongside legendary investors Warren Buffett, Sir John Templeton and Ben Graham in the book: The Worlds 99 Greatest Investors by Magnus Angenfelt. Driehauss firmthe earliest incarnation of which he founded in 1979has been on a roll in recent years, racking up double-digit annual gains for its two principal mutual funds. Submitted by Driehaus Capital Management The board, which meets three times a year to discuss and approve initiatives, consists of Driehaus and his two younger sisters, Dorothy and Elizabeth. Outside of business, he had focused his attention and energy on a variety of philanthropic and community service-oriented projects, individually and through the efforts of The Richard H. Driehaus Foundation and the Richard H. Driehaus Charitable Trusts. This is quite a jump from where Driehaus began. His Driehaus Museum, devoted to Gilded Age flourishes, is in another landmark at 40 E. Erie St. We are devoted to carrying on Mr. Driehaus legacy and will do our best to continue to grow the countless gifts he has given us. Buy the house. It was like a light going off in my head. He had established the Driehaus Community Development Fund with CFVI in 2002, and over the course of the next almost 20 years he made donations in excess of $1.8 million to support a broad range of projects and initiatives in the territory, which included the restoration of the Franklin D. Roosevelt Park in 2006 as a cultural asset in the St. Thomas historic district. Even in its day, he says, the Nickerson house was regarded as something special.. Cheryl Winokur Munk. Local Initiatives Support Corporation He also supported St. Ignatius College Prep and St. Margaret of Scotland parish. Dear Friends of the Driehaus Museum, In 2007, Driehaus opened the Richard H. Driehaus Museum of Decorative Arts to the public. Buildings were looking like bland shoeboxes. This fall, however, the spotlight is on the museum, which will open in late October, initially by appointment only. Read now: stthomassource.com/content/2023/05/01/carnival-shooter-licensed-to-carry-firearm-held-on-1m-bail/ Now he is taking his commitment a step further with the Richard H. Driehaus Museum of Decorative Arts, a new institution housed in what has been called the most expensive residence ever built in Chicago. Tiffany Studios (American, est. Hes one of a handful of people in town where if they decide to support something, it automatically becomes a major event., Rautbord, who has observed more than a few moguls in action, says that Driehaus typifies the breed in that he creates his own universe. He was the architect of the firm's growth equity investment philosophy and was the firm's Chairman. Within the investment management industry, he earned a reputation for posting top investment results and for building an enduring boutique investment management firm that bears his name. 26 x 23 in. Known throughout the financial world as an early practitioner of momentum investing, which calls for spotting stocks on prolonged upward trends, Mr. Driehaus founded Driehaus Capital Management in 1982. Illinois Institute of Technology If you have a preservation crisis and are up against a team of high-powered developers, he provides you with the means to compete on an even level.. In the city that gave rise to Frank Lloyd Wright and a second life to Bauhaus expat Ludwig Mies van der Rohe, Driehaus aimed to recover the beauty of 19th-century Chicago from the modernists and bring more traditional styles of architecture to the forefront. Through the University of Notre Dame, Mr. Driehaus established the Richard H. Driehaus Prize for Classical Architecture. Emerging Markets Small Cap Equity Strategy. The offices of his financial firm as well as his myriad other activities sit diagonally across the street from the Nickerson in a compound that consists of two historic housesthe 1886 Ransom Cable mansion and a century-old brick townhouse that was formerly occupied by the architecture firm of Graham, Anderson, Probst & White. The Trust for Public Land, CLASSICAL ARCHITECTURE He resolved to get smart on his own and find a career that would let him own the home he wanted. He had a whimsical side. In the territory, one organization the Community Foundation of the Virgin Islands was quick to note his varied and generous gifts. His 2019 version with a James Bond theme and an appearance by Diana Ross was a particular hit. University of Illinois at Chicago College of Architecture and the Arts The Founders Award, Children at the Crossroads Foundation, 2018 Through this award, Driehaus hoped to give momentum to the movement seeking to return beauty into the built environment and moving the profession toward his classical vision: I had been looking with interest at architecture for some years and had already concluded that, given the work done in the last 50 years, we Americans deserved better buildings. The Richard H. Driehaus Foundation is pleased to announce Anne Lazar as its new executive director. Alanna Gallagher. The Spanish Ministries of Industry and Culture and the Spanish College of Architects are also collaborating on this initiative. Richard is a Chicago legend and icon a great rags-to-riches, neighborhood-kid-makes-good success story, and one of the most generous and eclectic philanthropists in Chicago, Shaw said. A hard worker since his youth as a newspaper carrier, he attained a life of privilege without forgetting how to have a good time or help others. Mr. Driehaus strongly believed in giving individuals the chance to create their own success. Its one of the grandest 19th-century houses in the country, says Kirby Talley, the Amsterdam-based curator and author whom Driehaus hired in the fall of 2003 to oversee the restoration. Honorary Member, Royal Academy of Fine Arts of San Fernando, Madrid, 2015 (induction) About a dozen people have been hurt in an early morning apartment building fire on Detroit's west side. Chicago Tribune Prince of Wales U.S. Foundation In 2012, he announced a gift to enhance the academic programs of DePauls 100-year-old College of Commerce. Ambassador Award, Chicago Dramatists, 2013 His passion for investing continued and he grew to become the legend and pioneer we all know today. Mr. Driehaus support of the performing and visual arts was based on his belief that they provide much-needed balance to peoples busy lives. Frank Schulterbrandt, EDC director at the time of the Treasury debacle, told the Source that despite his company being an EDC tax beneficiary, Driehaus, paid hissizable personal income taxesin the territory. residency in 2006, Driehaus paid millions in personal income tax based on his worldwide income to the Virgin Islands, according to numerous local knowledgeable sources. A devoted philanthropist as well, he saw philanthropy as a form of inquiry. It doesnt get any better than this., The Nickersons moved out in 1900 after selling the house and most of the original furnishings to Lucius Fisher, a paper-bag manufacturer and the developer of the Fisher Building in the Loop. He grew up on the Southwest Side in a classic octagon-front brick bungalow, the son of a mechanical engineer. He was 78. Congress For The New Urbanism The museum is a stunner, starting with an imposing two-story entry hall and grand staircase that has the kind of lavish detailing one associates more with Renaissance palaces in Florence or Venice than with a Midwest boomtown like Chicago. He made his first investments using money he had earned as a paperboy delivering the Southtown Economist. Richard H. Driehaus died suddenly Tuesday at Northwestern Memorial Hospital after suffering a cerebral hemorrhage the night before. Distinguished Philanthropist Award, Association of Fundraising Professionals, 2009 Six people are reported dead and more than 30 people hospitalized. Richard H. Driehaus Founded Driehaus Capital Management LLC. While the Pritzker Prize has had a strong tendency over the decades to reward modernist architectsfrom Frank Gehry to Gottfried Bhm (among other works, architect of the ghastly, brutalist Mary Queen of Peace church in the Diocese of Cologne, Germany) and Tadao Ando (designer of the formless Church of the Light)the Driehaus Prize looked to reward more traditionally minded architects. National Trust for Historic Preservation I think they help people do their jobs a little better.. Mary Potter Humanitarian Award, Little Company of Mary Hospital, 1999. A Tale of Today: Emerging Artists Fellowship. He is an expert in value investing, a style of investing that focuses on finding undervalued stocks. Its my gift to the city, Driehaus says. Despite their differences, Pope Francis and Viktor Orban are the only European heads of state trying to end the RussiaUkraine war. degree in 1965. For Gods sake, she says, there are enough people around here who are interested in modernism. Chicago Architecture Foundation Another highlight is the sculpture gallery, a two-story windowless space topped by a brilliantly colored art-glass dome. Richard H. Driehaus was named to Barron's "All-Century" Team of 25 individuals identified as the most influential within the mutual fund industry over the past 100 years. In addition to his daughters, Tereza, Caroline and Kate, survivors include two sisters, said Stasi Radaios, administrative assistant at the private equity firm. The Driehaus College of Business was named after him at DePaul University, as was the Richard H. Driehaus Prize in architecture at Notre Dame. Its the social aspects of architecture and design that interest us. A case in point is another new museum the foundation is working on, the Public Housing Museum, which will be located on Taylor Street in the last remaining building of the Jane Addams Homes, a 1930s public-housing project. Did he ever consider becoming an architect? Become a Member today for a growing stake in the conservative movement. He was a larger-than-life figure whose magnetic personality was matched only by his enormous generosity. When most financiers and investment moguls gravitated to sterile steel and glass skyscrapers, Driehaus moved much of his financial firms offices into the 1886 Ransom Cable mansion, a Richardsonian Romanesque-style home. Contributions to the St. Croix Foundation focus on restoration as a tool for economic revitalization. Money magazine has described Richard H. Driehaus as a "master of momentum investing.". The dining room, for example, has elaborately embossed walls and an exuberant chandelier that incorporates wild boar heads, hunting horns, and brass arrows. Little Sisters of the Poor Hes not a time waster. This New Urbanism series is supported by the Richard H. Driehaus Foundation. Man of Vision Award, Midwest Eye-Banks, 2003 Its part of our past and how we evolved as human beings and as a civilization. Gold, enamel, glass, diamond, baroque pearl. This underscored his appreciation of architecture that denotes place by reaching back to historic precedents. This mansion is in downtown Chicago. Walworth County deed records . I do think there is a modernist bias in a lot of architectural dialogue today, and the world does not live entirely in works that are avant-garde. Richard Driehaus loves a party almost as much as he loves historic architecture. Richard Driehaus, founder and chairman of Driehaus Capital Management in Chicago, has died at age 78, according to a press release. After making his fortune as an extraordinarily successful investment fund founder and manager, Driehaus turned his eye toward philanthropy. Admission to the Freedom of the City of London, 2012 State police say a section of Interstate 55 northbound and southbound will be closed until Tuesday. A 19th-century Roman rendering of Cupid and Psyche stands beneath an art-glass dome in the sculpture gallery. After one organization dedicated to preserving and maintaining houses of worship went under, Driehaus carried that mission forward in 2008 by funding a Chicago office for a national organization with a similar mission, Partners for Sacred Places. Designs 4 Dignity On a given day, it is rare not to find a tourist or two posing for photos in front of the complexs imposing iron gate, a sign that Driehaus takes as evidence that the publicif not always the criticsunderstands and embraces his vision. Later on, when his father developed Alzheimers, Driehauss mother had to go back to work as a secretary. A way of learning about the world. But the prominent Chicago-native businessman and philanthropist, going against the grain, dedicated himself to proclaiming that beauty still mattered, earning the moniker modernist Chicagos voice of dissent from the New York Times. Mr. Driehaus first exposure to DePaul University was as an undergraduate business student. The cost today would be more than $100 million. Having grown up in the Catholic faith, with Christian values, he appreciated the significance of a Catholic education. From modest beginnings to being named by Barrons as one of the 25 most influential individuals within the mutual fund industry over the past 100 years, he never forgot his roots. In addition to reading, writing, and arithmetic, he says, they taught me three thingsyou have to continue to learn your whole life, you have to be responsible for your own actions, and you have to give something back to society.. Im not sure thats the tack the Pritzker Committee takes.. His path and personal story were larger than life, and the impact he made as an investor is perhaps only rivaled by the extensive legacy he left as a philanthropist. State of the Union: The new Heritage Project 2025 manifesto evinces promising signs of change in the foreign policy consensus. Richard Driehaus outside the Driehaus Museum in 2012. Become a member and enjoy the very best from The American Conservative in print & digital. In 2017, Mr. Driehaus gave a speech for the CFA Institute. Special exhibitions, books and films memorializing architects and architectural achievements. His philanthropy extended to numerous organizations representing many civic interests. The father of one of the teens said his daughter had died. The interior, meanwhile, was banged and chipped after decades of use as a commercial facility. Ferreras, his neighbor for 20 years, added she joyfully reaped the benefits of the twice-nightly waterfall and hologram display presented solely for the entertainment of departing cruise ship passengers and nighttime kayak tours in the harbor. Neighborhood Housing Services of Chicago, INTERNATIONAL We seemed to be settling for a homogeneous approach. Richard Driehaus died at 78 on March 9. Architects Research Foundation Driehaus meanwhile is working on harvesting its investments. You cant make an impact in New York. University of Notre Dame School of Architecture, RELIGIOUS Illinois Arts Legend Award, Illinois Arts Alliance Foundation, 2005 His brilliance, passion, humor, genuine heart, and pursuit of excellence will always be a guiding light in the galleries along with the voices of all the talented people who built and beautified the Nickerson Mansion. Like investing, it requires strategic thinking, judgment for innovation and tolerance of risk. An example is the recent brouhaha over Promontory Point, the Alfred Caldwell-designed lakefront landscape in Hyde Park. Friends of the Windows Photograph by Michael Tropea, 2018. This fall, he takes his commitment further by opening a museum of decorative arts in a phenomenally lavish 19th-century mansion on the Near North Side. Eventually, however, he realized that the residence would make an admirable repository for his collectionor, at least, part of his collectionof 19th-century art and decorative objects. Our priority has been to see how architecture and design can benefit people who dont normally have the benefit of those disciplines, says Sunny Fischer, the foundations executive director since the early 1990s. Richard Driehaus knew what he liked in stocks, classical architecture, the performing arts, parties and old cars. Wisconsin's Most Expensive Listing Is Now This Century-Old Lake Geneva Mansion Asking $39.25 Million Former home of the late investment manager Richard Driehaus, the 40-acre estate has more than . Executive Director From Driehaus to Our House. The couple will marry July 25 at Holy Name Cathedral in Chicago. In particular, he cherished his collection of decorative art objects from the late 19th and early 20th centuries. Requiescat in pace, Richard Driehaus (1942-2021). CHICAGO - OCTOBER 11: Tereza Driehaus, Ivanka Trump, Kristyna Pellouchoud Driehaus and Caroline Driehaus attends the launch of Ivanka Trump Fine Jewelry with Marshall Pierce & Company at Trump International Hotel & Tower on October 11, 2010 in Chicago, Illinois. He funded scholarships for international MBA students and a virtual stock portfolio contest for DePaul finance students. The philanthropy starts with the Richard H. Driehaus Foundation, which has an endowment of more than $70 million and dispenses about $2.5 million a year in grants, most of which go to Chicago. Mr. Driehaus supported a broad range of initiatives, including: Mr. Driehaus interest extended beyond bricks and mortar projects. Honorary Doctorate of Public Service, Saint Xavier University, 2009 Sir John Soanes Museum Foundation, SCHOOLS Design competitions for a: memorial to Daniel Burnham, new hospital for Childrens Memorial, campus center building at the Illinois Institute of Technology, and Friends of the Rivers 25th anniversary design charrette. Hegeler Carus Foundation It is presented annually in Madrid, Spain. Sacred Heart Schools I think great art and architecture are ennobling, Driehaus says. But in Chicago, you can because its big enough and its small enough and people actually get along enough a line that drew cheers. He was not the extrovert he is today, says Dorothy Driehaus Mellin, the elder of Driehauss two sisters. Six days after the blessed affair, Mr. Driehaus will hold his annual summer bash in Lake . The problem is theres no poetry in modern architecture, Driehaus said on the topic at the time, according to Chicago magazine. Honorary Member, The Cliff Dwellers, 2018 We see the city and its buildings as being inseparable. (One need only to recall most recently the reaction from the architectural establishment and journalist class to Trumps now-repealed executive order establishing classical architecture as the default for federal buildings: denunciations, cries of authoritarianism, and invocations of dictator chic.). Katie had organized a Christmas choir with children from The Port Ministries after-school program in Englewood, and Driehaus decided to donate to help her continue her effort. Buzz took one look and said, Forget the bust. St. Petersburg International Center for Preservation. Most Americans live in traditional buildings, and the more we understand traditional buildings and their language and nuances, the better off we are., Even Donna Robertson, the dean of the Illinois Institute of Technologys architecture school, the unofficial Vatican of American modernism, endorses Driehaus. The ideas keep getting bigger and better. The Pritzkers, however, are very much on Driehauss radar screen. PRESERVATION Diagonally across the intersection is the Samuel M. Nickerson House, purchased by Driehaus in 2003. He also was instrumental in the reconstruction of Roosevelt Park in St. Thomas. PRESERVATION Shield of St. Xavier Award, Saint Xavier University, 2006 A: Richard Driehaus is a self-made billionaire who began his career as a stockbroker in 1969. St. Ignatius College Prep Subscribe for free today! Foresight Design Initiative Landmark Preservation Award, Landmarks Illinois, 2002 Richard Driehaus, who died March 9, was a rare example of a good elite. His writing has also appeared inUniversity BookmanandAthwart. Its too complex and difficult, he says. In Memoriam: Richard H. Driehaus, available to view below: Images from top: Richard H. Driehaus, 2012. March 11, 2021 Eric Rasmussen. In 1982 he formed Driehaus Capital Management LLC, aninvestment advisory firm widely known for expertise in growth-oriented equity and alternative investment strategies. He died of natural causes, a news release from his. USVI Benefactor, Former Resident Richard Driehaus Dies, {{current_weather.dt | momentjs( atts.date )}}, Carnival Shooter Licensed to Carry Firearm, Held on $1M Bail, STJ Man Charged with Rape Turns Himself In, Anniversary: One Year of COVID in the Territory, Bryan Lauds Governments $45M Payment to Vitol for WAPA Debt, Silver Resumes St. Thomas-St. Croix Flights, Judge: Limetree Bay Terminals Must Buy Water for Residents Impacted by Refinery Flares, Senate: Health, Hospitals and Human Services, Board of Elections Schedules Special Meeting, Senate: Disaster Recovery, Infrastructure and Planning, stthomassource.com/content/2023/05/01/carnival-shooter-licensed-to-carry-firearm-held-on-1m-bail/. Unlike many news organizations, we haven't put up a paywall we want to keep our journalism as accessible as we can. All of this has now been reversed, starting with the exterior, where lasers were used to remove a centurys worth of grime. Let it not be for present delight, nor for present use alone, he wrote. The philanthropist and founder of Chicago-based Richard Driehaus Capital Management suffered a brain hemorrhage on March 9 and died at age 78. The philanthropist (1942-2021) championed the preservation and restoration of a built environment that edified the human person. In 2012, also working with the University of Notre Dame, he established the Rafael Manzano Martos Award for Classic Architecture and Restoration of Monuments. In the late 1990s, he sponsored an international competition for IIT that resulted in the new Rem Koolhaasdesigned student center. (He demurs when asked what he thinks of the building.) Every conversation is about something hes passionate about, whether its business, restoring historic architecture, 19th-century art, or any of the charities he supports.. Its on a museum, a foundation, an architecture prize, a fashion competition, numerous academic buildings and programs, and on awards celebrating historic preservation and the Chicago bungalow.