
Investor and business leader Mellody Hobson sits down with Craig Melvin on this week’s episode of Glass Half Full for a conversation about motherhood, money, and what it takes to keep going. Mellody opens up about growing up on Chicago’s South Side with a single mom who bought easter dresses instead of paying the light bill, the fifth grade spelling test that changed the course of her life, and how financial trauma drove her to build a career in the investment business. Mellody also shares what her husband, George Lucas, taught her about parenting, and the simplest piece of money advice she gives everyone she meets.
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Craig Melvin
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Craig Melvin
Learn more@chase.com Sapphire Reserve cards issued by JP Morgan, Chase bank and a member FDIC subject to credit approval. Foreign. Craig Melvin here. Welcome to my basement bar and welcome to Glass Half Full. This is where we talk to folks that you know about the, the milestones and the moments that shape who they are professionally and personally. And today our guest is Melanie Hobson, who is of course one of the most respected voices in business and finance. She also happens to be married to a fellow named George Lucas. For all you Star wars geeks, and Melody and I had a really interesting conversation about the aforementioned Star Wars. A little nugget about why Yoda talks the way Yoda does. And we also talked about her childhood and how being the youngest of six in a single parent household in Chicago really turned her into the powerhouse that she is now. And she even weighed in on crypto, too, and how her daughter hates what she wears. Melody Hopson, Glass Half Full. Melody Hobson, good morning to you.
Mellody Hobson
Good morning. Good to see you.
Craig Melvin
Thank you so much for being with us here on Glass Half Full. As you know, we like to start every episode with a toast. I've got my bourbon. I always have bourbon. But I should point out it's afternoon here, it's morning there, so people don't judge me. What's one thing that you'd like to toast? Melody Hopson.
Mellody Hobson
Okay, you know what? I'm going to toast waking up today. How's that?
Craig Melvin
Cheers to that.
Mellody Hobson
You underestimate that.
Craig Melvin
We woke up on the right side of dirt.
Mellody Hobson
That's right. Good to be with you.
Craig Melvin
That's my. That's what my grandma used to say. You know, one of the things that we like to do here on this particular podcast is we like to touch, start with the moments that define us. And when you look back on your life and your career, is there one moment that you can sort of single out and say, that was when it clicked?
Mellody Hobson
There were a few. There are a few. The one that I think about that immediately comes to mind. It's a story. I'll make it quick. I was in fifth grade at the Ogden School in Chicago, a public school. And our teacher had a practice when we took our spelling test that if every student in the class received 100 on the spelling test, we received two Girl Scout cookies. But if one person missed one word, no one got anything. And in my school, all grades were read out loud so everyone knew what your grade was. You would give your paper to your neighbor, they would grade it and then the teacher would call out your name and your neighbor would give your grade verbally. We got to Hobson and my friend sitting next to me who was grading my paper, Amy Joyce, said 90% and I nearly fell out of my chair. The whole class is glaring at me. They're so upset. I, I'm going to be the reason there are no Girl Scout cookies. The teacher looks at me and she says, you should hope someone else misses. So it's not just you. I wait till we get to the last person we get to why it's just me. And I think to myself, this is horrible. I'm literally sweating. I'm so upset I'm going to cost everyone the cookies. Which may as well be $2 million to fifth graders, right? So long story long, she says instead of having the entire class suffer, we're gonna have you stand in the hallway while we enjoy our cookies.
Craig Melvin
What? That's terrible. What God awful lesson did you learn from that?
Mellody Hobson
Me up, I have to tell you. So I walked to the door and it was like a movie where the door moves away from you. It felt like it took me an hour to get to the door. I get to the door, it's got a little schoolhouse window on the door. I look in the window, they're having their cookies and I, you know, little tears are running down my face. But I was like, never again. Never again happened to me again, ever, ever, ever. It was one of those moments that just lit me up. I also, I took a lot of accountability and I knew all I had was me. So it wasn't, you know, it sounds pretty bad.
Craig Melvin
Yeah.
Mellody Hobson
But in hindsight, I'm somewhat grateful.
Craig Melvin
Yeah. Here's what I want to know. I want to know if that teacher is still alive. And I want to track down him or her. And I want to maybe thank them
Mellody Hobson
because had it not, she died recently, maybe a year or two ago. Her name was Rose Falvo. And my whole life I corresponded with her.
Craig Melvin
That's awesome. You're the youngest of six, Single mom, Chicago. And from what I've read it, it wasn't always beer And Skittles for melody hops. And there were some. There were some rough days.
Mellody Hobson
My mom was someone who tried really hard. She worked really hard. She made decisions that weren't always the right decision. So I used to tell people I was the child where my mom bought Easter dresses instead of paying the light bill. And so we would have no lights, but we'd look good at church. And all of that really created this need for me to understand money, which is why I don't think there's any accident that I work in the investment business. And so those time. There were times in my childhood that were, you know, we would get evicted, our phone would get disconnected, our cars would be repossessed, our lights would be turned off. You know, we had our things sat in the street a couple of times. And that just left a deep impression on me of feeling very, very insecure about just the basics of life. And again, it led me to seek to need to control that for myself and to find a better way. So I was laser focused on school because I saw that as being my option. I joke with people. I wasn't an athlete on the court, but I became a corporate athlete. That's where I, you know, in school and in business, I'm. It's the same kind of training.
Craig Melvin
Yeah, you. You've been all pro for a long time now. You know, it's. It's fascinating that you bring that up, because I tell folks sometimes my dad struggled with addiction issues for most of my life. And as a result, I think sometimes you can be shaped by. You can be shaped by a negative example just as much as you can by a positive example. So for me, I saw my dad and I was like, you know what? I don't know exactly what I want to do with my life, but I do know I don't want to do that. I don't want to be like him. And it sounds like, to a certain extent, that may have been the case with your mother as well. At least when it comes to managing finances.
Mellody Hobson
She was a great mother. I felt very loved. But I did have a. The. My purpose was born out of that financial trauma. There's no question about it. In my mind, I wouldn't be me without it. So I can't, you know, look back on it and change anything. My husband said to me once, something that I thought was very profound. He said, you know, you should forgive your mother. And I said, forgive my mother. I'm not upset with my mother. He's like. He's like, I think there Are some issues there. You should forgive your mother. And I looked at him and he said, you know, by all measures, you turned out great. And I just thought, you know, it took me off guard, and I got a little choked up, and I was like, yeah, when I tell these stories, I'm, I. She's a human being, and she did the best that she could.
Craig Melvin
Yeah.
Mellody Hobson
Didn't make me who I was. So, you know, I, I, I listened to my husband on that one.
Craig Melvin
You said on that one. That implies there have been others where,
Mellody Hobson
you know, I married Yoda's dad. You know that he's very wise. He is. There are a lot of great learnings that come from George. And at the same time, he knows when I say this, he's your crazy uncle. He's both. He's a genius. Who's a crazy uncle too.
Craig Melvin
That's usually how it happens. The kids sort of go hand in hand. Very wise he is.
Mellody Hobson
Can I tell you one thing about the very wise he is or just the words being scrambled? Please. Yoda talked backwards so that kids would actually listen because he said if he spoke normally, it would sound too preachy. So the kids have to unscramble the words so they have to listen really hard.
Craig Melvin
Was that his idea? That was his idea from the beginning.
Mellody Hobson
That's genius, right?
Craig Melvin
That is. That is.
Mellody Hobson
He said, have Yoda say the things he says and put it in normal, in a normal sentence structure. He's like, your eyes would roll. But when we scrambled it, a child will say, like, what is he saying? And they lean in and they have to unscramble it in their brain. And he said, and they listen.
Craig Melvin
Wow, that's next level. I did not know that. Did not know that. Never knew that. How did you meet George? How did you and George Lucas meet?
Mellody Hobson
We met at a conference.
Craig Melvin
So tell me about this conference, you guys. Were you at a Star wars convention? A Star wars conference?
Mellody Hobson
No, no, no, no. Not at all. We were at a conference in Aspen, a business conference that has lots of different people that come together. I was on the board of DreamWorks, and I just went up to him and started talking to him because I've been on the board of DreamWorks, and he was him the first year, and then the second year, he said, oh, I'm going to Chicago to give a speech, and I live in Chicago. Lived in Chicago. And he said, well, maybe you could grab a dinner or something. And literally, I was filler, like it was something to do, like there was no other reason. And it just Sort of took off from there. But for a long time, I didn't tell anyone that I was. We were going out. I only referred to him by his initials. I still do. And it was, you know, it turned into seven years of dating. And then we got married 12 years ago.
Craig Melvin
Seven years.
Mellody Hobson
Yeah. We weren't going to get married. I mean, I was, you know, I had a good life, but we had a child and so that became a different story. It's all great. I'm very fortunate that it all worked out the way it has.
Craig Melvin
It has. It's worked out, to say the least. I want to go back to the gap between that terrible spelling story and the Girl Scout cookies to Princeton and the in between there. Talk to me a little bit about your childhood and how you wound up at Princeton.
Mellody Hobson
I told you, I was very determined. I asked my friends this, and I don't know if you've ever felt this way, but I always ask my friends, how old were you when you knew you were a mutant?
Craig Melvin
What do you mean?
Mellody Hobson
Like just weird like the other kids.
Craig Melvin
You know, it's funny, I. I remember first grade, Mrs. Glenn's class, and I had these thick, like coke bottle glasses and. And I was sort of an outcast. And that. That's. I guess that would be when I felt like a mutant. That's interesting that other. Other weird kids sort of gravitate, even in adulthood to other weird kids.
Mellody Hobson
I think it's just people in general. I don't think if it's about weird, it's like, when did you know you were different? I was five. You know, I was in a family where my siblings were 20 years older than me. I mean, start with that. That's not normal. I have nieces that are one is two years older than me, one is one year younger. So. So they're like siblings. My. My siblings. Children are more in my generation. And then I had these ideas that no one in my family knows where they came from. So when I was a little, little girl, I used to say to my mom, I'm going to Yale now. My. No one in my family went to college. And so she's like, where? You know, I said, where did that come from? I don't know. And I had this idea of Ivy League schools and all sorts of things, that there was no history of that in my family or any kind of conversation about it. But I started there with that focus, saying, if I get really good grades in school. And quite frankly, because so much of my life I could not control, I controlled the thing I could, which was school, that was something I had control over and my own ability. And so as a result of that, that. That's what really, you know, became those defining years of intense focus, intense study, intense. Because I said, if I want a better life, I've got to go to a really good college. And if I go to a really good college, I'll get a good job. If I get a good job, I won't worry about where I'm living. I'm telling you that it was as simple as that. There were no aspirations of any of the things I have or have done. I was just thinking about the basics, like waking up, not worrying about where I would live.
Craig Melvin
You wanted to make money because you had spent so much of your childhood knowing and experiencing what it was like to not have it.
Mellody Hobson
There's a very famous money manager who, in a job interview, he would ask people. His name was Bill Gross, and he ran a fund. He ran Pimco, which was a big bond manager. I read a story about him and he said that in every job interview, he said, what is important to you? Money, fame, or power for every person? It's one of those three. And, you know, no one wants to admit it. And I sat with myself when I was reading this article and I said, well, clearly in the beginning I needed money. I was really chasing, and I wanted to be financially secure. It doesn't mean whatever motivates you is the same thing for your whole life. But I thought that was really interesting asking. And I asked people that question. They're somewhat put off by it, but I said, it's just being, you know, truthful. What's important to you?
Craig Melvin
Money, fame or power. And if people are being honest, it's always one of the three. For some, it's probably all three, but at least one of the three.
Mellody Hobson
But it's at least one.
Craig Melvin
What do most people tell you it is? Do most people tell you it's money,
Mellody Hobson
or do most people tell you demure from the answer? They don't want to answer the question.
Craig Melvin
That's a great interview question.
Mellody Hobson
They find it to be too aggressive. It's very telling. I said, but no, you've got to pick something because it helps me know how to inspire and incent you. I mean, literally.
Craig Melvin
Yeah, helpful, because not to go down this rabbit hole. I mean, you could have fame or infamy and not have power or money, and you could have money and not be famous. In fact, the longer I live, the more I discovered that people who generally have the Most money aren't famous.
Mellody Hobson
Or try very hard not to be.
Craig Melvin
Correct. Correct. Has it changed over time or is it still money?
Mellody Hobson
No, it's not money for me. No.
Craig Melvin
What is it?
Mellody Hobson
I think I have, you know, there's a point where you're okay. And even though I have my recurring night nail dream is that I have some form of homelessness, I haven't had that in a long time, but it is there. Those things stick with you. No, I think about how my influence can affect other people. So I guess technically it's power.
Craig Melvin
Power.
Mellody Hobson
I don't say that with any, you know, I'm not trying to sound, you know, maniacal or, you know.
Craig Melvin
Yeah, no, I know what you mean.
Mellody Hobson
I mean it in terms of, can I use my person to make a difference? If I have what I want and need, what do I need to do with this time that I have on this earth?
Craig Melvin
I remember years ago. I don't, I don't remember what I was reading or what I was watching, but I, I, I didn't. This was probably 20 years ago. I didn't really know who Melody Hobson was. Um, maybe it was cnbc. Anyway, you were on something and, And I was like, oh, my God, this woman, she's probably worth close to a billion dollars at this point. And she's not Oprah and she's black, and this is at the beginning of the Internet. And I started searching around and it was one of those things where it really. You were a unicorn to me back then. And now we all know who Mellody Hobson is. But did you find that that was the case 20, 25 years ago? People would meet you and they were like, like, who are you? What are you? Like, what's, they were fascinated by, by you.
Mellody Hobson
So this is what I'll tell you. First of all, your number is not right. But I think because we manage billions of dollars at Ariel, people, People assume it's my money. It's not. We manage client money and we manage billions of dollars for other people. And that has been the case for a lot of my career. So that's the first thing. The second thing I will tell you is that, yes, there's a moment. I see it. I always joke with people I meet, people that I, for years and years, who didn't know me, didn't know anything about me, and I could literally look at them and watch a light bulb go on. Or first you're underestimated and dismissed, and then all of a sudden the light bulb goes on and you can See it in their face. Like their face wakes up to, huh? And I did have one CEO once say to me, who are you? I was working on the deal and we were negotiating against each other and I think he thought I would just be like a piece of cake. And it was just a very, very funny story about how that exchange went back and forth. But I don't, you know, I think I'd like to exceed expectations. And so any way that I can do that, if people, you know, have lower expectations or don't know what to expect from me, hopefully they are pleasantly surprised. The other thing I find is sometimes people will say, which I, it's just so fascinating to me that you're nicer than I thought you would be. And I'm always like, what does that mean? Why wouldn't I be nice? Yeah, they, they, people say, you know why?
Craig Melvin
Because I, I, I also find sometimes that I do think a lot of folks assume that anyone who's achieved a reasonable modicum of, of status or wealth or fame or what, that you're kind of a jackass.
Mellody Hobson
But they don't think that. I think because you're on television, they know, like your personality is so affable. Do you get that? I wonder if it's because they of finance, they think you're just not going to, it's all going to be math and no heart.
Craig Melvin
Well, yes, I think you did sort of say the quiet part out loud. Yes. I think they just assume if you've made a few bucks that you clearly can't be nice when two things we know two things can be true. You mentioned that moment when you were under, underestimated. Is there a moment, Melody, where, where you, you thought, you know what, I've done this, I've done this. But I don't, I don't know if I can keep going. I, I, I, I don't the bottom, the bottom may fall out or I made this mistake. Is there a moment where you did second guess your yourself professionally a lot?
Mellody Hobson
Yeah.
Craig Melvin
Even now?
Mellody Hobson
Yeah, I talk to myself in my head. Things feel very hard at times. I have friends in my head who keep me going when I feel very weary. And you know, one of my closest friends in life is Lewis Hamilton. And I always share with Lewis that he lives in my head as a way of everything from like, you wake up in the morning, you kind of don't want to go to the gym. And I'm like, Lewis would go, I'm on the treadmill, Louis would work harder. It's like, it's a little. Louis would never give up. Lewis would never give up. And so times when I do feel I, you know, I don't want to keep going. I have to think beyond myself. I really do ask myself not to be selfish. It's it, you know, I, I'm working for other reasons now. I'm pushing for other reasons. And so I do try to hold myself accountable. But at the same time, and Lewis has taught me this, you know, he says, melody, you must be kind to yourself. You know, be gentle with yourself. And so that is something that, you know, you have that those weary moments. And the first thing I do in those weary moments is chastise myself. You know, you can do better. You can. That's where my head goes. Don't be a wimp. When I really sometimes is like, yes, this is very hard.
Craig Melvin
More with Melody Hopson after the break. All new drinks are now at McDonald's. Like the strawberry Watermelon Refresher and the Sprite Berry Blast topped with cold foam. Who knew ice cold drinks could be so fire? Try them all now at McDonald's. Refreshers contain caffeine.
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Craig Melvin
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Mellody Hobson
Hey, everyone, check out this guy and his bird. What is this, your first date? Oh, no.
Craig Melvin
We help people customize and save on car insurance with Liberty Mutual together.
Mellody Hobson
We're married. Me to a human, him to a bird. Yeah, the bird looks out of your league.
Craig Melvin
Anyways, get a'@libertymutual.com or with your local agent.
Mellody Hobson
Liberty, Liberty, Liberty, Liberty. And any person doing anything. You know, there are moments where you feel, you know, as I suggested, weary or that you can't do it. And that's when you're actually onto something. It's the things that are really, really hard that are worth, you know, those moments of. Of that marshaling that strength.
Craig Melvin
Lewis Hamilton, by the way, undeniably one of the greatest athletes of our time. And I'm still not convinced he always gets his due. But that's a separate podcast.
Mellody Hobson
All time he would die.
Craig Melvin
Let's talk about the moment of motherhood for Melody and, and how that has shaped you and changed you.
Mellody Hobson
Well, I have a child that holds me accountable. George told me this when we had Everest. He said, melody, with a child, there is no highway. He said, you live in a world where it's my way or the highway. You can put anyone on the highway, including a spouse. You have people who work for you. He's like, it's my way or the highway, but there's no highway with a child.
Craig Melvin
That is true.
Mellody Hobson
He's like, and that is going to be your learning. And so she's, she's formidable.
Craig Melvin
How could she not be?
Mellody Hobson
I mean, that's, you know, in a totally different way.
Craig Melvin
And how, how so how's she, how's she different?
Mellody Hobson
She's an observer. She will take in a lot of information she has. She's not chatty with others. She's very, very reticent when she meets people. She doesn't just let you in. I'm friendly to everyone. And she's like, she's reserved. Very, not almost, you know, she's reserved. She's not gonna just let you in. And so she's discerning and I really appreciate that about her. And then with me, she's just, again, she holds me accountable when I'm talking to her. She's like, you've stopped paying attention to me.
Craig Melvin
How old is she now?
Mellody Hobson
She's 12. So she can see when my mind leaves the conversation, which I'm like, again, like, stay focused, stay focused. I'm trying so hard. And she's like, you've stopped paying attention to me. And she, she will call me out on it. She doesn't like the phone, Hates the phone. Hates it.
Craig Melvin
You know what's interesting? Our kid, I've got an eleven year old and an eight and a half year old. They're the same way. And like if we're on it and we're, and by the way, if we're having a conversation and then something distracts us and we pick up the phone, they're like, you would. And I'm like, oh my God, you're right, you're right, you're right. I do wonder if that's a pendulum that's starting to swing back. I wonder if fortunately, maybe now we're rearing a generation of children who have seen the evils of these God awful devices. And they're like, they're taking mommy and daddy away from me.
Mellody Hobson
Yes, absolutely. That's how she sees it. She hates the phone. So I have to put the phone in the trunk in the. You know, I'm not driving in that situation. I have to leave it somewhere during dinner. Like do not bring the phone. Finish the call before I walk in the door because I know how much it's going to bother her.
Craig Melvin
Respect. I respect that. More to come with Melody Hopson. Stay with us.
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Craig Melvin
Learn more@chase.com Sapphire Reserve cards issued by JP Morgan, Chase bank and a member FDIC subject to credit approval. And Doug, there's nowhere I wouldn't go to help someone customize and save on car insurance with Liberty Mutual. Even if it means sitting front row at a comedy show.
Mellody Hobson
Hey everyone, check out this guy and his bird. What is this, your first date? Oh, no.
Craig Melvin
We help people customize and save on car insurance with Liberty Mutual together.
Mellody Hobson
We're married. Me to a human, him to a bird. Yeah, the bird looks out of your league.
Craig Melvin
Anyways, get a quote@libertymutual.com or with your local agent.
Mellody Hobson
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Craig Melvin
this. We've got a few minutes left. I want to get to some of my curiosities. The producers Call this Craig's Curiosities, but these are actually things that I've always been curious about with you. Just. And these are quick answers. Most common questions people ask Melody Hobson about money when they meet you for the first time.
Mellody Hobson
How to make more.
Craig Melvin
And what do you tell them? Invest with me.
Mellody Hobson
Now that real money is made over time. It takes time. They have to be patient, think long term, have a plan and stick with it.
Craig Melvin
What are the most common money mistakes that people make?
Mellody Hobson
Investing in fads.
Craig Melvin
Crypto.
Mellody Hobson
Yes.
Craig Melvin
You consider that a fad?
Mellody Hobson
I do.
Craig Melvin
What are some other fads?
Mellody Hobson
I mean, I've lived through so many of them. There was the dot bomb, the dot com, that was Freudian, slip.com bubble that burst. I mean, there have been a host of these things along the way that have come and gone. Hot stocks, meme stocks, you know, all sorts of things where people think somehow they're going to make a fortune. Day trading, you know, people are betting their mortgage thinking they can make money in a month. It just doesn't work like that.
Craig Melvin
I've often thought sometimes you'll see these people who are on like Instagram or TikTok giving investment advice and I thought if you were really so good at investment advice, would you be tiktoking? But I think sometimes I'm in the minority when it comes to things like that. What's the one piece of advice that you would give a gen zer right now when it comes to their finances?
Mellody Hobson
It doesn't matter how much, just get started. A little goes a long way over decades. Compounding is a magnificent thing. Warren Buffett calls compound interest the eighth wonder of the world. It can work for you or work against you. Working for you in terms of money growing through investments is powerful. When you are young, you can ride out all the ups and downs and over the long term, you're going to do extremely well. $20 a month, $10 a month. I'm telling you, even small amounts go a very long way. I think people think they have to wait until they have a certain amount of money to invest. And that is not the case.
Craig Melvin
Have you found, Melody, that. And one of the things I've always enjoyed about you is that you have committed a good chunk of your life to educating people. A lot of people who look like me and you two, educating them about money, making it approachable. Have you found that financial literacy has started to shift in this country?
Mellody Hobson
We've seen some improvements. There's no question 28 states today have financial literacy mandates in their education system. The problem is they're not getting to the point. I don't think home mech or learning how to write a check or read a utility bill is the kind of financial literacy I'm talking about. I want a young person to know the difference between the Dow, the NASDAQ and the S and P. I want them to know how to invest in their 401k plan. I want them to understand compound interest. And so that's why I wrote a book for kids about money, so that they could start to really understand this. Just to explain compound interest. I give the example. Would you rather have a penny that doubles every day for a month or a million dollars? And most people take the million dollars, but the penny that doubles every day for a month because of compound interest is over $5 million.
Craig Melvin
I don't know if I actually knew that off the top of my head, and I feel like I should because I took econ 201. Shoot.
Mellody Hobson
Well, sometimes in college. That's the other thing. We don't learn these things. You know, you might have learned about supply and demand.
Craig Melvin
I did. That's true.
Mellody Hobson
But it's, you know, opportunity costs and things like that, but not some of these everyday issues that can make the difference between you having a secure life and retirement and you being able to pass on wealth to your kids and family and having them be secure.
Craig Melvin
How would you characterize your investment portfolio right now? What's, what's Melody Hopson in?
Mellody Hobson
Well, certainly everything that Ariel does, I own every fund that we have because I feel very strongly about our long term, patient approach to investing, value investing, buying things that are out of favor, misunderstood, ignored, or under followed. And the big thing I'm working on right now, trying to carry it across the finish line is closing a fund that focuses on women's sports, which I think of women's sports as being the small caps of sports. And I think we're at a once in a generation inflection point in sports.
Craig Melvin
I think you're right. Really quickly before I let you go, moments that you would redo. When you look back on all of it, is there a moment or two that you would say, you know what? I'd like to take another swing at that?
Mellody Hobson
Yeah. I think they're all around people and situations where I could have been a better person. And I know it when I'm doing it. It's like, I so know it. I'm like, why did you have to say that? Why'd you have to do that? Sometimes in the, in the, in The. Under the guise of being direct, I was harsh and I regret that.
Craig Melvin
Is there a specific instance or is that.
Mellody Hobson
I mean, I wouldn't name names or. Sure, sure. I mean, you. In your career, there are times when you look back. I think I'm a different leader today than I was early in my career when I didn't know what I was doing.
Craig Melvin
How so?
Mellody Hobson
I think I have more wisdom. You know, knowledge is not wisdom. Just because you know stuff doesn't mean you're wise.
Craig Melvin
Do you think that one becomes wise simply by spending more years on this earth, or do you have to actively pursue the wisdom?
Mellody Hobson
I don't think that would happen, but everyone doesn't. You know, George is naturally wise. I told you that. That's one of the things I most appreciate about him. It's overflowing pearls just fall out of his mouth because he thinks like that. But I've met a lot of people who are older and not that wise. So, no, I don't think it's a. It's a necessary outcome. We are hopeful that over time, wisdom builds and life experience hopefully knocks us around a bit. That would make us wiser people. But everyone doesn't get the lesson.
Craig Melvin
No, you're right.
Mellody Hobson
I would have probably had more children.
Craig Melvin
Really?
Mellody Hobson
Yeah. I'm like. I'm annoyed with myself.
Craig Melvin
Well, I mean, you're still young.
Mellody Hobson
I'm 56.
Craig Melvin
It's. It's the new 36. It's the new 36.
Mellody Hobson
I said I was older than death.
Craig Melvin
Who said that?
Mellody Hobson
My daughter.
Craig Melvin
She's tough. She's tough.
Mellody Hobson
That's all new. Older than death. That's what she's like.
Craig Melvin
But by the way, I've got a son and I've got a daughter. I find that my daughter, like, she'll say mean things sometimes just to get under my skin. Like, she know, even at eight and a half, like, she knows she's being mean. And my son would spare my feelings.
Mellody Hobson
Yeah, because girls are like that. Girls are tough. I mean, I get a full response to every outfit I wear. When I come downstairs in the morning, my daughter looks at me and she's like, so unfortunate.
Craig Melvin
No, she doesn't.
Mellody Hobson
She was mortified by my suit. She was like, you look like a professor in a really bad way.
Craig Melvin
And I just said, when you sat down, I was like, that's a beautiful sport coat.
Mellody Hobson
Oh, no, no, she doesn't like it. No flourishes, no bedazzling. Not her. She wants it simple. But, you know, again, it's all. I would have had more Children. I, I, I should have had more than. I love children. I love babies. I love all of that. Love it. Not bothered at all by a crying baby, by a diaper, nothing. Love it. And I just, I'm, I'm annoyed with myself that I only had one child, but I only saw one hand in my visual. I only saw myself holding one hand.
Craig Melvin
Okay, that's insightful. Are you, Melody, would you consider yourself a half glass full or half glass empty person?
Mellody Hobson
Full, very much so. I have always been an optimist and so that's a big part of who I am.
Craig Melvin
Is there a moment that Melody Hobson is still chasing?
Mellody Hobson
Oh, many, many, yes.
Craig Melvin
Oh, I love this. Tell me more, Melody. What are these moments?
Mellody Hobson
You know, a lot of them are about how I want to be as a person. You know, those, there's, there are a lot of hills to still climb and really, you know, I had a friend when I was much younger who said, you know, I'm eager to see if you grow into a complete person.
Craig Melvin
That doesn't sound like a compliment.
Mellody Hobson
It was a, it was a, it was a good, it was a good flag.
Craig Melvin
But what was she trying, what was she saying or.
Mellody Hobson
He's saying, yeah, that there's a lot to growing into being whole. And, and there are a lot of that that I still see, you know, that I, that I can do. And I don't mean that in a way of, of any, I'm not disappointed in myself. I just think I'm, I'm trying to do better and so I have a lot more to do. You know, just little things like I, I'm spending a lot of time just learning to quiet my mind. I have a mind that is not quiet. It's not, and that it's fine for me. But that restless mind affects people around me.
Craig Melvin
I, I find the, the more I talk to people like you who again, have achieved some measure of success, that's frequently the case. The mind is constantly, like, worrying and, and, and spinning and, But I would
Mellody Hobson
think about him. What is the effect on her of this mother who's like, yeah, that's true.
Craig Melvin
I've so enjoyed this and I think you are a complete person. Contrary to what your daughter might say,
Mellody Hobson
the final nail was in that coffin. I will have gotten close. But that's the great thing about life. We're all works in progress. You know, recognizing that we're not done ever is one of the great, you know, joys. There's more to be done.
Craig Melvin
If you are enlightened, I would maintain that Melody Hobson might be in the minority when it comes to that worldview. But thank you. I've enjoyed this, my friend. I appreciate the time.
Mellody Hobson
Thanks for all you do, really. I'm a fan.
Craig Melvin
And tell your daughter that's a beautiful jacket. I don't care what she says.
Mellody Hobson
She's not a fan of it.
Craig Melvin
Yeah.
Mellody Hobson
All right, Take care.
Craig Melvin
And there you have it. Melody Hobson. She's a Glass Half Full kind of person. I hope you enjoyed that as much as I did. You thought you knew Melody Hobson, didn't you?
Mellody Hobson
Ha.
Craig Melvin
Turns out you were wrong. It was interesting to hear, first of all, the fact that she dated George Lucas for seven years before they got married. But also when someone is open enough to admit that there are things that they would redo and hearing her say that she wishes that she'd had more kids, that's something that a lot of folks can relate to. I hope my wife's not listening because I'm not one of those folks that wasn't me saying that I wish I had more children. I'm happy with that two that I have. I digress. This is the part of the podcast where the corporate overlords encourage me to have you share, subscribe and like this episode. If you want us to continue doing this, this has been fun. I hope you enjoyed this edition of Glass Half Full. Cheers to next this episode of Glass Half Full is produced by Tyree Nobles and Jarrett Crawford, along with Brooke Glatz. Our editor is Ali Strain and sound design and mix is by Juliana Mastro Rilli. Ashley Domagola is our production manager. Sadie Bass is our supervising producer. Our head of audio production is Jessica Finton. Ariana Davis. Santana is our executive editor. Our hi, I'm Craig Melvin and this has been Glass Half Full, a production of the Today Show. See you next week.
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Date: May 19, 2026
Guest: Mellody Hobson
Main Theme:
An intimate, inspiring conversation with Mellody Hobson — pioneering business leader, co-CEO of Ariel Investments, and wife of George Lucas — on how her challenging upbringing shaped her approach to life, finance, motherhood, and finding meaning beyond money.
In this heartfelt episode, Craig Melvin sits down with Mellody Hobson to explore the life moments that shaped her resilience and success. From her tough Chicago childhood to her high-profile marriage to filmmaker George Lucas, Mellody shares personal anecdotes, the lessons learned from adversity, her approach to financial literacy, and candid thoughts on parenting and personal growth.
Fifth-Grade Spelling Test Trauma
Growing Up with Financial Insecurity
Understanding Forgiveness and Parental Fallibility
Their Love Story
Why Yoda Talks Backwards
Intensity of Focus & “Being a Mutant”
Motivations: Money, Fame, or Power
Facing Stereotypes and Surprises
Self-Doubt & Accountability
Motherhood’s Unique Challenges
Regrets & Growth
Top Money Questions & Pitfalls
Advice to Gen Z
State of Financial Education
Investment Philosophy
On Forgiving Parents:
On Yoda:
On Wisdom:
On Power:
On Regret:
On Optimism:
The episode is warm, conversational, and honest, with both Craig and Mellody sharing personal stories, humorous family anecdotes, and wisdom in an accessible and approachable way. Mellody’s candor about both her successes and vulnerabilities makes the conversation feel intimate and relatable.
This episode offers a deep dive into the forces that shaped a leading light in American business. Mellody Hobson brings both gravitas and humility, discussing everything from Star Wars lore to the realities of raising children in today’s world. Her advice on money, power, and wisdom is grounded in hard-won experience and delivered with sincerity and optimism.
— Mellody Hobson (37:14)