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John C. Bogle

The Vanguard Group is an investment management company founded in 1975 by John C. Bogle and valued at $1.7 million, according to its website. Bogle said that dealing with the "fiscal cliff" must be the government's highest priority.

"The idea of a 'grand' deal is now a necessity," he said, suggesting a combination of spending cuts and tax increases. "We are living in a different kind of America than we had in the past," he said. "I'm sure the founding fathers were pretty tough on each other, but they gave in for the greater good."

Peter Foley | Bloomberg | Getty Images