Wednesday, October 22, 2014
Inquirer Daily News

John Sperling | College founder, 93

John Sperling, 93, who battled for accreditation and respect for the University of Phoenix, the upstart for-profit college that he founded in the 1970s to expand higher education to working adults, died Aug. 22 at a hospital in the San Francisco Bay area, according to a statement on Apollo Education Group Inc.'s website. No cause was given.

Through Apollo, the Phoenix-based publicly traded parent of University of Phoenix, Mr. Sperling became a billionaire. Forbes magazine estimated that his net worth peaked at $1.7 billion in 2005 before declining to $1.2 billion in 2012 and less than $1 billion in 2013, as his unorthodox, decentralized university faced renewed scrutiny of its finances and efficacy. - Bloomberg

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