William Duncan MacMillan | |
|---|---|
| Born | 1938 (age 86–87) |
| Alma mater | Rutgers University (BS) |
| Occupation(s) | Mathematician,businessman, andphilanthropist |
| Known for | Co-founder ofBloomberg L.P. |
| Spouse | Nancy MacMillan |
| Children | 2, Kevin MacMillan, and Alissa MacMillan |
Duncan MacMillan is an American mathematician, philanthropist, and businessman known for being one of the four founders ofBloomberg L.P.[1]
MacMillan served four years in theUnited States Marine Corps after which he went to college.[2] In 1966, MacMillan earned a Bachelor of Science degree in Mathematics fromRutgers University. In 1967, he began his career working atBankers Trust.[3]
MacMillan worked at the investment bankSalomon Brothers withMichael Bloomberg,Thomas Secunda andCharles Zegar.[1] After Bloomberg - who was Salomon's former head of equity trading and sales and then head of computer systems and data - was fired when he opposed the takeover of the company byPhibro, a metals trading company, he invited Zegar, Secunda, and Macmillan to start up their own financial data company.[1] They accepted and together they foundedInnovative Market Systems, with Bloomberg investing $300,000, the majority of seed capital.[1] Secunda, who was a mathematician, was responsible for analytics; MacMillan was the expert in customer needs; and Zegar created the software.[1]
In 1982, they got their first customer,Merrill Lynch who ordered 20 data terminals and invested $30 million in the company (receiving a 30 percent ownership interest).[1] The company grew rapidly thereafter and by 2008 had $7.6B in sales and over 15,000 employees. Bloomberg owned 88% of the company and the three other partners 4% each (In 2008, Bloomberg purchased back Merrill Lynch's original 30% share).[4][5]
MacMillan is a Member of the Dean's Advisory Committee; he is a member of the Foundation of The Medical Center at Princeton. He has endowed a Professorship of Genetics at Rutgers University and a Professorship in Theoretical Computer Science at TheInstitute for Advanced Study.[3] He is also a generous supporter ofThe Cancer Institute of New Jersey where he serves on the board of directors.[3] His wife Nancy is a trustee of the Institute for Advanced Study and theAmerican Repertory Ballet.[3] MacMillan and his wife are signatories ofThe Giving Pledge.[6]
MacMillan is married to Nancy MacMillan whom he met while working at Bankers Trust.[2][3] Nancy has a B.A. in economics and mathematics fromConnecticut College, a M.A. in economics fromHunter College, and aMaster of Business Administration in finance fromRider University.[2] They have two children: Kevinand Alissa.[2]
