MEMORIAL RESOLUTION HONORING THE LIFE OF RICHARD H. DRIEHAUS
WHEREAS, Richard H. Driehaus, businessman, philanthropist, preservationist, and loving brother, husband, and father, passed away on March 9, 2021, at the age of 78; and
WHEREAS, The Chicago City Council has been informed of Richard's passing by the Honorable Brendan Reilly, Alderman of the 42nd Ward; and
WHEREAS, Born in 1942 and raised in the Brainerd neighborhood on Chicago's Southwest side, Richard's father suffered a heart attack when Richard was young, causing his mother to enter the workforce and provide for the family, and prompting Richard to begin work at an early age; and
WHEREAS, Richard worked a paper route for the Southtown Economist while he was in grade school; one day while he was bored, he started reading the papers he was delivering and discovered the New York Stock Exchange, and from there his fascination with stocks was born; and
WHEREAS, Richard made his first investment when he was 13, using $1,000 he had saved from his paper route and invested in stocks recommended by financial columnists, which promptly tanked, teaching him an early lesson about the market; from then on, he resolved to learn the stock market on his own, and his early interest in stocks grew into Driehaus Capital Management, which he founded in 1982; today, Driehaus Capital Management manages funds of $13.2 billion; and
WHEREAS, Growing up in the Catholic faith, Richard attended St. Ignatius College Prep and St. Margaret of Scotland School; after high school, he went on to attend DePaul University, where he earned a Bachelor of Science in 1965 and an MBA in 1970; he was also awarded an honorary doctorate by the school in 2002; and
WHEREAS, Richard Was a vibrant, world-changing force, and was always motivated to make a difference; he was a devoted philanthropist who came to understand that maximizing the impact of donated dollars can be more challenging, and more fulfilling, than earning those same dollars; and
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