Are founders more risk-tolerant and long-term oriented than successors and salaried workers? Although there is an accumulation of anecdotal evidence regarding founders' risk and time preferences, quantitative analysis is still limited; previous studies have typically inferred these preferences from firm-level behaviors. By analyzing survey data from 533 founders, 1,110 successors, and 505 salaried workers in Japan, we quantitatively evaluated their individual risk and time preferences and investigated their heterogeneity based on decision theory. During this analysis, we employed a holistic approach to categorize individual risk and time preferences, postulating that a combination of risk and time preference parameters has distinctive characteristics that cannot be reduced to their separate elements. Our results lead to a twofold conclusion: first, founders exhibit a higher tolerance for risk than successors and salaried-workers, although they are close to risk-neutral. Second, founders show more impatience with respect to time than both successors and salaried workers. Our study offers a detailed portrayal of managerial risk and time preferences.