What group was the heir to Walter L. Morgan at Wellington Management Company founder of?
Walter L. Morgan Walter L. Morgan (July 23, 1898 – September 2, 1998) was the founder of the Wellington Fund, the first balanced mutual fund in the United States and one of the oldest surviving mutual funds. Morgan was born in Wilkes-Barre, Pennsylvania where he prepared at the Hillman Academy. He graduated from Princeton University in 1920, and shortly thereafter became the youngest CPA in Pennsylvania. In the 1920s Morgan raised $100,000 from relatives and business people to create what he believed to be a stable investment portfolio. The Industrial and Power Securities Company was established in 1928. It was later renamed the Wellington Fund in honor of the Duke of Wellington. Wellington Management Company was incorporated in Philadelphia in 1933. In 1951 Morgan hired John C. Bogle who became his heir at the company.
Walter Kwok Kwok Ping-sheung, Walter (; born 1950 in Hong Kong, with family roots in Zhongshan, Guangdong) is the eldest son of Kwok Tak Seng and Kwong Siu-hing. Together with brothers Thomas and Raymond, they inherited Sun Hung Kai Properties, Hong Kong's largest real estate developer, in 1990 following their father's death. As per Forbes(2015), Walter Kwok is the 9th wealthiest billionaire in Hong Kong and #193 in the world.