Joe Moglia Net Worth

What is Joe Moglia's Net Worth and Salary?

Joe Moglia is an American entrepreneur, former football coach and author who has a net worth of $75 million. Joe Moglia is the former chairman and CEO of TD Ameritrade. He was also the head football coach at Coastal Carolina University from 2012 to 2016 and again in 2018 during which the team transitioned from the NCAA Division to the NCAA Division and won four Big South Conference Championships. He has written two books: "The Perimeter Attack Offense" and "Coach Yourself to Success: Winning the Investment Game".

Salary

At his peak, Joe Moglia earned $20 million per year in total compensation from TD Ameritrade. He earned over $100 million in salary alone between 2001 and 2009. When he became coach of Coastal Carolina, he opted to be paid just $1, turning down the full $177,000 he was entitled to.

Early Life and Career Beginnings

Joseph Hugh Moglia was born on April 01, 1949 in New York City. He went to Fordham Preparatory School in the Bronx from 1963 to 1967. He later attended Fordham University where he earned a bachelor's in economics. He also earned a master's degree in secondary education from the University of Delaware.

Moglia spent 16 years coaching football, wrapping up his career as the defensive coordinator of Dartmouth College from 1981 to 1983. He decided to make a big career switch after the 1983 season, joining the Merrill Lynch MBA training program on Wall Street. He was the only football coach among the 26 trainees, all of whom were MBA graduates.

Corporate Career

Moglia spent 17 years at Merill Lynch serving on the executive committees for various private client and institutional businesses. He was in charge of the insurance company, investment products, the middle-market business and the (401) k business before leaving to become CEO of Ameritrade Holding Corp (currently TD Ameritrade) in 2001.

With Moglia at the helm, TD Ameritrade saw client assets soar from $24 billion to over $300 billion and market capitalization jump from $700 million to $12 billion. The company also achieved years of record earnings and capitalized on major acquisition and merger opportunities including the significant deals with TD Waterhouse in January 2006 and Datek Online Holdings four years earlier.

In March 2008 Moglia announced he'd step down as CEO in the fall to pursue other interests. The search for his successor lasted well into the summer at which point Fred Tomczyk, the former COO at TD Bank Financial Group, took over in September. Moglia then became chairman, succeeding J. Joseph Ricketts. In 2012 he cofounded Fundamental Global Investors with Kyle Cerminara and has been chairman ever since. Eight years later, in July 2020, they also co-founded FG New America Acquisition Corp, a special purpose acquisition company where he serves as chairman and partner. Moglia would then step down as chairman of TD Ameritrade later in the year when the company merged with Charles Swab Corporation.

Return to Football Coaching

When Moglia stepped down as CEO, he joined the University of Nebraska as an executive advisor to Bo Pelini, the then-head football coach. On November 10, 2010, he was named head coach of the Virginia Destroyers, the new United Football League franchise. Shortly thereafter, he became the president and head coach of the Omaha Nighthawks.

As the UFL's financial situation worsened, Moglia signed with the Coastal Carolina. He earned the title of 2012 Big South Conference Coach of the Year in his first season, having led the team to the championship. Following the 2015 season, Coastal Carolina began moving to the FBS, the highest level of college football. Subsequently, the school joined the Sun Belt Conference for non-football sports in July 2016 and completed the FBS transition in 2017. On July 28 of the same year, Moglia took medical leave. Fortunately, he was cleared to return to coaching on January 5, 2018.

Retirement and Legacy

On January 18, 2019 Moglia announced he'd be leaving his position as the head coach of the Coastal Carolina Chanticleers, passing the role to his offensive coordinator and interim coach,  Jamey Chadwell. His contract was valid until 2021 but the coaching veteran thought this decision would be best for the program. He retired with a remarkable record of 56-22 resulting in four Big South Conference titles and two Big South Coach of the Year awards.

In 2021 Moglia made a significant financial contribution to Coastal Carolina University. It was meant to kickstart the design of a $15 million indoor football practice facility, expand the university's football facilities and initiate a proposed south end zone project. The donation was also meant to complete funding for a $5 million soccer stadium. While the exact amount wasn't disclosed, CCU President Michael Benson announced that a future academic and athletic facility would be named The Joe Moglia Center. Moreover, it was announced that during the homecoming football game at his alma mater on October 7, 2023, Jack Coffey Field would be named Joe Moglia Stadium.