The Richest Person In Each State 2019


For the fifth yr operating, Forbes combed via fortunes throughout the nation to find the wealthiest resident in each state. While some states are residence to a number of high-profile billionaires—the world’s richest and second richest males, Jeff Bezos and Bill Gates, each stay in Washington—you solely want a nine-figure web value to take the highest spot in Alabama, Alaska, Delaware, New Hampshire, New Mexico and Vermont.

In all, 53 billionaires and centimillionaires made the ranks (three states had ties). Their collective $875 billion web value bested final yr’s $832 billion and set a brand new report. The prime business to be in is finance and investments (10 listing members), adopted by vogue and retail (eight members) and meals and beverage (5 members). However, huge tech is the supply of probably the most large fortunes: Its 4 billionaires collectively are value $251 billion, accounting multiple fourth of the overall mixed wealth.

A chronic droop in power shares made Harold Hamm, the founder and CEO of oil and gasoline firm Continental Resources, the most important share loser of the yr; his fortune fell 40% to $11.eight billion. Yet when most hedge funds misplaced cash in 2018, the most important hedge fund of Ken Griffin’s Citadel returned 9.1%, boosting Griffin’s web value 30% to $11.7 billion—making him the most important gainer.

Hotelier Gary Tharaldson, who has been North Dakota’s richest particular person since 2015, lastly reached the three-comma membership, making him the primary (and solely) billionaire from his residence state. Overall, 60% of those enterprise titans created their very own fortunes, whereas 21% inherited them and 19% have been handed a enterprise however have actively expanded it.

The Richest Person In Every State

Alabama

Jimmy Rane

Net value: $900 million

Age: 72

Source of wealth: lumber

Residence: Abbeville, Alabama

Rane is the founder and CEO of Great Southern Wood Preserving, which makes decks, fences and different handled lumber merchandise. He’s higher often known as “the Yella Fella,” his cowboy alter-ego who seems within the firm’s TV commercials. Read More.

Alaska

Leonard Hyde, Jonathan Rubini & households

Net value: $300 million every

Age: 62, 64

Source of wealth: actual property

Residence: Anchorage, Alaska

Business companions Hyde and Rubini personal a few of Anchorage’s largest buildings, together with JL Tower and the ConocoPhillips Towers. They additionally oversee an Alaskan army housing improvement and lodges in each Alaska and the continental United States. Read More.

Arizona

Ernest Garcia II

Net value: $5.6 billion

Age: 62

Source of wealth: used vehicles

Residence: Tempe, Arizona

Garcia is the most important shareholder of Carvana, a web based platform for promoting used vehicles and making auto loans that his son Ernest Garcia III based. It’s a subsidiary of DriveTime Automotive, the nation’s fourth-biggest used automotive retailer, which the older Garcia based and runs. Read More.

Arkansas

Jim Walton

Net value: $51.1 billion

Age: 71

Source of wealth: Walmart

Residence: Bentonville, Arkansas

Walton is the youngest son of Walmart founder Sam Walton. He runs the household’s Arvest Bank, which boasts property of greater than $16 billion. He sat on Walmart’s board for greater than a decade earlier than yielding the seat to his son, Steuart, in June 2016. Read More.

California

Mark Zuckerberg

Net value: $71 billion

Age: 35

Source of wealth: Facebook

Residence: Palo Alto, California

Zuckerberg began Facebook at Harvard in 2004 on the age of 19 for college kids to match names with faces in school.He took the social media large public in May 2012; three years later, he pledged together with his spouse Priscilla Chan to present away 99% of their inventory of their lifetimes. Read More.

Colorado

Philip Anschutz

Net value: $12 billion

Age: 79

Source of wealth: investments

Residence: Denver, Colorado

One of the richest males in sports activities, Anschutz owns the L.A. Kings, the L.A. Galaxy, over 1 / 4 of the Lakers, and the Staples Center (residence to each the Lakers and the Kings). His Anschutz Entertainment Group operates greater than 100 arenas and live performance venues worldwide. Read More.  

Connecticut

Ray Dalio

Net value: $18.four billion

Age: 69

Source of wealth: hedge funds

Residence: Greenwich, Connecticut

Dalio is the founding father of the world’s largest hedge fund agency, Bridgewater Associates, which manages $160 billion in property. He began taking part in the markets at age 12, getting ideas from golfers whereas he labored as a caddie, then launched Bridgewater from his two-bedroom New York City house in 1975. Read More.

Delaware

Robert Gore & Elizabeth Snyder

Net value: $885 million every

Ages: 82, 72

Sources of wealth: Gore-Tex

Residences: Newark, Delaware & Wilmington, Delaware

Siblings Gore and Snyder every have stakes in W.L. Gore & Associates, a supplies agency based by their dad and mom in 1958 that makes all the pieces from implants within the human physique to clothes worn on Mount Everest expeditions. It was Robert who invented Gore-Tex, a water-resistant light-weight material broadly utilized in out of doors clothes and footwear. Read More.

Florida

Thomas Peterffy

Net value: $18.eight billion

Age: 74

Source of wealth: low cost brokerage

Residence: Palm Beach, Florida

Peterffy is the founder and CEO of publicly traded Interactive Brokers, which markets its specialised buying and selling platform to stylish buyers. He additionally owns greater than 500,00zero acres of timberland in his residence state. Peterffy arrived in America in 1965 at age 21, the penniless descendant of Hungarian aristocrats who misplaced practically all the pieces to the Soviets. Read More.

Georgia

Jim Kennedy

Net value: $9.2 billion

Age: 71

Source of wealth: media, automotive

Residence: Atlanta, Georgia

Kennedy is the chairman of Cox Enterprises, the automotive and media firm headquartered in Atlanta. Kennedy’s grandfather, James M. Cox, based Cox Enterprises in 1898 when he bought the Dayton Evening News. Read More.  

Hawaii

Pierre Omidyar

Net value: $13.5 billion

Age: 52

Source of wealth: eBay, PayPal

Residence: Honolulu, Hawaii

Omidyar based on-line public sale agency eBay in 1995 and now serves on its board.  He additionally co-owns resort properties in southern California and Mexico, and is the founding father of First Look Media, the guardian firm of on-line information website The Intercept. Read More.

Idaho

Frank VanderSloot

Net value: $three.5 billion

Age: 70

Source of wealth: diet, wellness merchandise

Residence: Idaho Falls, Idaho

VanderSloot based and runs Melaleuca, which makes greater than 400 merchandise starting from well being dietary supplements to eco-friendly family cleaners. Melaleuca sells them instantly from the manufacturing unit to over 1.5 million customers each month via its on-line retailer. He was a nationwide finance co-chair for Mitt Romney’s two presidential bids. Read More.

Illinois

Ken Griffin

Net value: $11.7 billion

Age: 50

Source of wealth: hedge funds

Residence: Chicago, Illinois

Griffin based and runs Citadel, a Chicago-based hedge fund that manages $32 billion in property. He first started buying and selling from his Harvard dorm in 1987, then began his hedge fund three years later. He additionally owns Citadel Securities, considered one of Wall Street’s largest market makers. Read More.

Indiana

Carl Cook

Net value: $9.5 billion

Age: 56

Source of wealth: medical units

Residence: Bloomington, Indiana

Cook is the CEO of Cook Group, a $2.four billion (income) medical system producer. His dad and mom began the enterprise of their Bloomington, Indiana, house in 1963; Cook took over after his father’s demise in 2011. Read More.

Iowa

Harry Stine

Net value: $three.eight billion

Age: 77

Source of wealth: agriculture

Residence: Adel, Iowa

The son of a hardscrabble farmer, Stine is founder and CEO of Stine Seed Co, which licenses corn and soybean genetics to multinationals like Monsanto and Syngenta. He grew to become fascinated with seeds as a boy and began off working in his father’s soybean cleansing enterprise. Read More.

Kansas

Charles Koch

Net value: $42 billion

Age: 83

Source of wealth: Koch Industries

Residence: Wichita, Kansas

Koch is the chairman and CEO of Koch Industries, a $110 billion (income) conglomerate that makes all the pieces from Dixie cups and Brawny paper towels to fertilizers and air bag fibers. His father, Fred Koch, based the enterprise in 1940; Charles took over in 1967 and now shares majority management together with his youthful brother, David. Read More.

Kentucky

Tamara Gustavson

Net value: $5.three billion

Age: 57

Source of wealth: self storage

Residence: Lexington, Kentucky

Gustavson is the most important shareholder of Public Storage, which her billionaire father cofounded in 1972. She joined the agency in 1983 and rose to vice chairman earlier than leaving in 2003 to lift her youngsters. Gustavson now lives at Spendthrift Farm, the racehorse breeding farm owned by her household. Read More.

Louisiana

Gayle Benson

Net value: $2.9 billion

Age: 72

Source of wealth: professional sports activities groups

Residence: New Orleans, Louisiana

Gayle is the widow of Tom Benson, the previous proprietor of NFL’s New Orleans Saints and NBA’s New Orleans Pelicans (d. March 2018). She succeeded him as proprietor of each groups after a multiyear dispute with Tom’s daughter and grandchildren that led to a confidential settlement. Read More.

Maine

Susan Alfond

Net value: $1.7 billion

Age: 73

Source of wealth: sneakers

Residence: Scarborough, Maine

Alfond and her three siblings inherited a fortune created by their father, Harold Alfond, who began Dexter Shoe Co. six a long time in the past. In 1993, Harold bought the corporate to Warren Buffett’s Berkshire Hathaway for $420 million in inventory; the shares are actually value billions of . Read More.

Maryland

Ted Lerner & household

Net value: $5.1 billion

Age: 93

Source of wealth: actual property

Residence: Chevy Chase, Maryland

Lerner owns 20 million sq. ft of business and retail area, plus lodges and residences, primarily within the Washington, D.C., space. He borrowed $250 from his spouse to begin an actual property firm in 1952, first promoting houses for builders then grew to become a builder. Read More.

Massachusetts

Abigail Johnson

Net value: $14.7 billion

Age: 57

Source of wealth: cash administration

Residence: Milton, Massachusetts

Johnson is the chairman and CEO of Fidelity Investment, the Boston-based mutual fund large that has $2.7 trillion in managed property. She took over from her father, Edward Johnson III, in 2014 and has labored full-time for the corporate since 1988. Read More.

Michigan

Daniel Gilbert

Net value: $6.eight billion

Age: 57

Source of wealth: Quicken Loans

Residence: Franklin, Michigan

Gilbert cofounded what would turn out to be Quicken Loans, America’s largest on-line mortgage lender, in 1985. He bought it to Intuit for $532 million in 1999, however purchased it again three years later for $64 million. He has invested $2.5 billion to buy and rehab buildings in downtown Detroit. He additionally owns the NBA’s Cleveland Cavaliers. Read More.

Minnesota

Glen Taylor

Net value: $2.9 billion

Age: 78

Source of wealth: printing

Residence: Mankato, Minnesota

Taylor purchased a marriage service enterprise for $2 million in 1975 and turned it into Taylor Corp., a printing agency with over $2 billion in gross sales. He additionally owns stakes in NBA’s Timberwolves, WNBA’s Lynx and Minneapolis Star Tribune, which he purchased in 2014 for about $100 million. Read More.

Mississippi

Thomas Duff & James Duff

Net value: $1.35 billion every

Ages: 62, 58

Source of wealth: tires, diversified

Residence: Hattiesburg, Mississippi

The brothers based and co-own Duff Capital Investors, a $2.6 billion (income) holding firm. The agency’s largest asset is industrial tire vendor Southern Tire Mart, which was based by their father Ernest Duff in 1973. Read More.

Missouri

Pauline Macmillan Keinath

Net value: $6.9 billion

Age: 85

Source of wealth: Cargill

Residence: St. Louis, Missouri

MacMillan Keinath is believed to be the most important shareholder of Cargill, the most important non-public firm in America. Her great-grandfather, W.W. Cargill, based the enterprise as a single grain warehouse on the tip of an Iowa railroad line in 1865. The Cargill and MacMillan households are now not concerned in administration, however collectively they nonetheless personal roughly 90% of the corporate. Read More.

Montana

Dennis Washington

Net value: $6.2 billion

Age: 84

Source of wealth: building, mining

Residence: Missoula, Montana

A one-time heavy crane operator, Washington parlayed an early love of equipment right into a diversified enterprise group known as Washington Companies. Among its companies are a copper mine and a regional railroad, plus stakes in two diamond mines. Read More.

Nebraska

Warren Buffett

Net value: $85 billion

Age: 88

Source of wealth: Berkshire Hathaway

Residence: Omaha, Nebraska

Buffett, the CEO and chairman of conglomerate Berkshire Hathaway, is without doubt one of the most profitable buyers of all time. His firm owns greater than 60 firms, together with Geico, Duracell and Dairy Queen. He’s promised to present away over 99% of his fortune and has already donated $three.5 billion in his lifetime. Read More.

Nevada

Sheldon Adelson

Net value: $35.7 billion

Age: 85

Source of wealth: casinos

Residence: Las Vegas, Nevada

Adelson, the chairman and CEO of Las Vegas Sands, owns greater than half of the $14 billion (income) playing empire that spans the U.S. and Asia. A giant donor to Jewish causes and the Republican occasion, Adelson additionally owns the Las Vegas Review-Journal. Read More.

New Hampshire

Andrea Reimann-Ciardelli

Net value: $720 million

Age: 62

Source of wealth: shopper items

Residence: Hanover, New Hampshire

German heiress, and now U.S. citizen, Reimann-Ciardelli bought her stake within the household’s Luxembourg-based funding agency, JAB, to different members of the family in 2003. The conglomerate owns stakes in dozens of worldwide manufacturers, together with hygiene and residential merchandise large Reckitt Benckiser and wonder firm Coty. Read More.

New Jersey

John Overdeck

Net value: $6.1 billion

Age: 49

Source of wealth: hedge funds

Residence: Millburn, New Jersey

Overdeck is the cofounder of Two Sigma Investments, a data-driven hedge fund that manages $57 billion in property. He started his profession at quantitative hedge fund D.E. Shaw, then spent two years working for Amazon earlier than beginning his personal agency with fellow billionaire David Siegel in 2001. Read More.  

New Mexico

Mack C. Chase

Net value: $700 million

Age: 88

Source of wealth: oil

Residence: Artesia, New Mexico

Chase made his fortune within the Permian Basin oil fields in Texas and New Mexico. He first cofounded Marbob Energy, which provided pumping providers to effectively house owners, then struck out on his personal with Mack Energy Corp. in 1988. Read More.

New York

Michael Bloomberg

Net value: $53.eight billion

Age: 77

Source of wealth: Bloomberg LP

Residence: New York, New York

Bloomberg cofounded monetary data and media firm Bloomberg LP in 1981. He put within the seed funding for the corporate and now owns 88% of the enterprise, which has revenues north of $9 billion. Bloomberg additionally served as mayor of New York City for 3 phrases. Read More.

North Carolina

James Goodnight

New value: $9.1 billion

Age: 76

Source of wealth: software program

Residence: Cary, North Carolina

Goodnight cofounded analytics software program agency SAS in 1976 with John Sall, whom he met whereas a Ph.D. pupil at North Carolina State University. Its merchandise are actually utilized by greater than 83,00zero organizations world wide, and it generates over $three.2 billion in annual income. Read More.

North Dakota

Gary Tharaldson

Net value: $1 billion

Age: 73

Source of wealth: lodges

Residence: Fargo, North Dakota

Tharaldson is North Dakota’s first billionaire. He bought his first lodge portfolio in 2006 for $1.2 billion, however he has since constructed extra properties and now runs over 40 lodges in 14 states.  He additionally owns a large aquifer in Arizona and a North Dakota ethanol plant. Read More.

Ohio

Les Wexner & household

Net value: $four.7 billion

Age: 81

Source of wealth: retail

Residence: New Albany, Ohio

Wexner based and runs L Brands, the $12.6 billion (income) world retail empire that features Victoria’s Secret and Bath & Body Works. He received his begin in 1963, when he used a $5,00zero mortgage from his aunt to open The Limited, which bought fast-moving gadgets like shirts and pants. Today L Brands has over three,00zero shops worldwide. Read More.

Oklahoma

Harold Hamm & household

Net value: $11.eight billion

Age: 73

Source of wealth: oil & gasoline

Residence: Oklahoma City

The fracking pioneer runs Continental Resources, one of many nation’s largest unbiased oil firms. Continental produces greater than 200,00zero barrels per day, a lot of it from North Dakota’s Bakken formation. The thirteenth little one of Oklahoma sharecroppers, Hamm picked cotton barefoot as a baby and began working at a gasoline station at age 16 to assist his household. Read More.

Oregon

Phil Knight & household

Net value: $35 billion

Age: 81

Source of wealth: Nike

Residence: Hillsboro, Oregon

Knight, who ran monitor on the University of Oregon, began the predecessor to sports activities attire large Nike together with his former monitor coach Bill Bowerman. Knight, who later purchased out his companion, ran the sports activities large for 52 years. He retired in June 2016 however, together with his household, stays the most important shareholder within the $36.four billion (income) enterprise. Read More.

Pennsylvania

Victoria Mars

Net value: $7 billion

Age: 62

Source of wealth: sweet, pet meals

Residence: Philadelphia, Pennsylvania

Mars is a great-granddaughter of Frank Mars, who in 1911 based the sweet firm identified for M&Ms and Milky Way bars. She inherited her estimated eight% stake in Mars Inc. after her father Forrest Mars Jr. died in 2016. Read More.

Rhode Island

Jonathan Nelson

Net value: $1.eight billion

Age: 63

Source of wealth: non-public fairness

Residence: Providence, Rhode Island

Nelson is the founder and CEO of Providence Equity Partners, the non-public fairness agency he began in 1989. Providence has invested in additional than 180 firms—many within the media, communications, training and data industries—together with Hulu and the Ironman triathlon. Read More.

South Carolina

Anita Zucker

Net value: $1.eight billion

Age: 67

Source of wealth: chemical compounds

Residence: Charleston, South Carolina

Zucker is the CEO of InterTech Group, a non-public, family-owned chemical compounds producer based by her husband, Jerry Zucker (d.2008). The Charleston, South Carolina-based firm additionally owns an aerospace engineering agency and intensive industrial actual property. Read More.

South Dakota

T. Denny Sanford

Net value: $2.5 billion

Age: 83

Source of wealth: banking, bank cards

Residence: Sioux Falls, South Dakota

Sanford owns First Premier Bank, which makes a speciality of providing bank cards to high-risk debtors and is without doubt one of the largest issuers of Visa and Mastercards. An energetic philanthropist, Sanford has thus far given away greater than $1.6 billion to charity. Read More.

Tennessee

Thomas Frist Jr. & household

Net value: $11.7 billion

Age: 80

Source of wealth: hospitals

Residence: Nashville, Tennessee

Frist Jr. based HCA Healthcare, an operator of hospitals and surgical facilities within the U.S. and London, together with his father in 1968. Though Frist Jr. now not holds an govt place on the public firm, which owns and operates 179 hospitals and 119 surgical facilities, his two sons are board members. Read More.

Texas

Alice Walton

Net value: $50.1 billion

Age: 69

Source of wealth: Walmart

Residence: Fort Worth, Texas

Walton is the one daughter of Walmart founder Sam Walton. She has targeted on curating artwork, fairly than working for Walmart like her siblings, Rob and Jim. In 2011 she opened the Crystal Bridges Museum of American Art in her hometown, Bentonville, Arkansas. The museum options works from the likes of Andy Warhol, Norman Rockwell and Mark Rothko. Read More.

Utah

Gail Miller

Net value: $1.5 billion

Age: 75

Source of wealth: automotive dealerships

Residence: Salt Lake City, Utah

Miller and husband Larry (d. 2009) turned a single Toyota dealership right into a $5.1 billion (estimated income) operation with 64 dealerships. The Millers additionally bought NBA’s Utah Jazz in 1986 for $22 million; the group is now value $1.four billion, in line with Forbes. Read More.

Vermont

John Abele

Net value: $640 million

Age: 82

Source of wealth: well being care

Residence: Shelburne, Vermont

Abele cofounded medical system producer Boston Scientific in 1979 to offer much less invasive, extra accessible therapies. He retired in 2005 and shortly started promoting most of his shares in order that he now solely has a tiny stake. These days he’s busy with a second profession of philanthropy and early enterprise investing; he and AOL cofounder Steve Case lately invested alongside each other in edtech startup Knowledgehook. Read More.

Virginia

Jacqueline Mars

Net value: $28.1 billion

Age: 79

Source of wealth: sweet, pet meals

Residence: The Plains, Virginia

Mars owns an estimated one third of Mars Inc., the world’s largest sweet maker, based by her grandfather. She labored for the corporate for practically 20 years and served on the board till 2016. Read More.

Washington

Jeff Bezos & household

Net value: $157 billion

Age: 55

Source of wealth: Amazon

Residence: Seattle, Washington

The richest particular person on the planet, Bezos is the founder and CEO of e-commerce large Amazon, which pulled in $230 billion in revenues and $10 billion in web revenue in 2018. He and his spouse, MacKenzie, are divorcing after 25 years of marriage. Bezos introduced in April he’ll switch 1 / 4 of his 16% stake in Amazon to her when the divoce goes via. Read More.

West Virginia

Jim Justice II

Net value: $1.5 billion

Age: 68

Source of wealth: coal

Residence: Lewisburg, West Virginia

Justice is the governor of West Virginia and the state’s solely billionaire. He made his fortune in coal and owns the Greenbrier resort. Yet he’s had a tough time paying the payments: Since 2016, he is been hit with over $10 million court-ordered penalties and $13 million in tax-related liens. Read More.

Wisconsin

John Menard Jr.

Net value: $11.four billion

Age: 79

Source of wealth: residence enchancment shops

Residence: Eau Claire, Wisconsin

Menard Jr.’s namesake residence enchancment retailer brings in an estimated $10 billion in gross sales from over 300 places. His shops, which compete with Home Depot and Lowe’s, are concentrated in the course of the U.S., spanning from Wyoming to Ohio. Read More.

Wyoming

John Mars

Net value: $28.1 billion

Age: 83

Source of wealth: sweet, pet meals

Residence: Jackson, Wyoming

John and his siblings Jacqueline and Forrest Jr. (d. 2016) every inherited an estimated one third stake in sweet agency Mars Inc. when their father died in 1999. The firm’s first huge hit was the Milky Way sweet bar, launched in 1923. Read More.

Methodology

This is our fifth yr compiling an inventory of the richest particular person in each state. Several of the members of this group additionally seem on the Forbes World’s Billionaires List, which is printed in March, and The Forbes 400 listing of the richest Americans, which comes out in October. For the richest in state bundle, we replace the web worths of the billionaires we’re continuously monitoring to ensure we now have the newest figures. We then spend a major period of time looking for the richest centimillionaires within the states with no billionaires. Our estimates signify a snapshot of wealth as of June 21, 2019. The web value of anybody on this group can change materially inside days or even weeks.

Credits

Editors

Noah Kirsch and Jennifer Wang with help from Kerry A. Dolan.

Reporters

Angel Au-Yeung, Madeline Berg, Deniz Cam, Carter Coudriet, Hayley Cuccinello, Lauren Debter, Christopher Helman, Max Jedeur-Palmgren, Andrea Murphy, Samantha Sharf, Kristin Stoller, Nathan Vardi, and Will Yakowicz. Research by Susan Radlauer.



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