Do You Know the Richest Person in Your State?
Fortune Also Favors the Rich
Forbes likes a good horserace. Its annual survey of the wealthiest people in the world includes the biggest names in business and philanthropy including old, old money, and the nouveau riche.
Whatever their path to wealth, there are a lot of crazy rich people in America — 735 billionaires in 2023 alone were worth a collective $4.5 trillion. While there are states with more than their share — California, New York, and Florida come to mind — they can be found scattered across much of the county.
We’ve sifted through the Forbes list to see who has the biggest pot of gold in each state in the union. Unless otherwise noted, residence status and net worth totals are from last year's listings of the Forbes Real-Time Billionaires List, which updates constantly when markets are open. If you like a horserace, follow along and watch these fortunes ebb and flow.
Alabama: Jimmy Rane, $1.2 billion
The founder and CEO of Great Southern Wood Preserving — who appears in his company’s TV ads as “the Yella Fella” cowboy — made a 2019 Forbes list as the richest person in Alabama. This year the magazine also includes him in the billionaire class.
Alaska: Leonard Hyde, Jonathan Rubini & families $300 million each (2019)
Alaska remains one of a handful of states without a billionaire but these real-estate business partners, who share ownership of JL Properties, with significant holdings in Anchorage, were named by Forbes in 2019 as the richest folks in the state.
Arizona: Mark Shoen, $4.9 billion
Shoen might not be a household name, but the company his parents founded — U-Haul — certainly is. Forbes says Shoen owns about one-fifth of its parent company, Amerco, and also owns a large private self-storage company.
Other notables: President of Amerco — U-Haul’s parent company — E. Joe Shoen ($4.2 billion); Los Angeles Angels owner Arturo Moreno ($4.1 billion); grandson of the inventor of condensed soup Bennett Dorrance ($3.4 billion); GoDaddy founder Bob Parsons ($3.4 billion); and Ernest Garcia II ($3.1 billion), the biggest shareholder in Carvana.
Arkansas: Jim Walton, $63.6 billion
The youngest son of Walmart founder Sam Walton is the chairman of his family’s Arvest Bank and the richest member of the group of heirs that Forbes says own about half of Walmart’s stock.
Other notables: Walmart director and Denver Broncos owner Rob Walton ($62.3 billion); J.B. Hunt Transport Services cofounder Johnelle Hunt ($4.5 billion); investment banker Warren Stephens ($3.2 billion); Tyson Foods chairman John Tyson & family ($2.9 billion); and Barbara Tyson ($2.2 billion), widow of Randal Tyson, who was the son of the company’s founder
Related: Giant Companies You Didn't Know Are Family-Owned
California: Larry Page, $90.9 billion
California is the land of billionaires, boasting 186 in 2022. The Google cofounder (with Sergey Brin) rose to the top of the pack this year, supplanting Meta’s Mark Zuckerberg. A clean energy advocate, Forbes says Page also is interested in space exploration and flying cars.
Other notable residents: Former Alphabet president Sergey Brin ($87.1 billion); Facebook cofounder Mark Zuckerberg ($82.9 billion); NVIDIA CEO and president Jensen Huang ($25.9 billion); former Google CEO Eric Schmidt ($18.1 billion); Irvine Company chairman Donald Bren ($17.4 billion)
Related: Most Unbelievable Lawsuits Filed Against Big Companies
Colorado: Philip Anschutz, $10.9 billion
An entrepreneur who built his wealth through energy, railroads, telecommunications, sports, and entertainment investments, Anschutz once owned six Major League Soccer teams. He currently owns the Los Angeles Galaxy and the NHL’s Los Angeles Kings — as well as Crypto.com Arena where the Kings play.
Other notables: retired telecom giant John Malone ($9.3 billion); venture capitalist Mark Stevens ($4.2 billion); philanthropist and Stryker Corp. heir Pat Stryker ($3.4 billion); cofounder of Dish Network Charles Ergen ($2.1 billion); and Cargill heir William MacMillan ($1.2 billion)
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Connecticut: Ray Dalio, $19.1 billion
Dalio launched Bridgewater Associates — the world’s largest hedge fund firm — and ran it before stepping away as CEO in 2017. Forbes says he’s donated more than $1 billion to causes that support such things as microfinance and public education.
Other notables: Steve Cohen ($17.5 billion), founder of hedge-fund firm Point72 Asset Management; hotel heir Karen Pritzker ($6.1 billion); Todd Boehly, cofounder of holding company Eldridge ($5.3 billion); XPO Logistics creator Brad Jacobs ($3.8 billion); and hedge fund investor Stephen Mandel Jr. ($3.6 billion)
Delaware: Elizabeth Synder, $885 million (2019)
Snyder and her sibling, Robert Gore, were among the heirs to the Gore-Tex fortune that grew from a manufacturing company founded by their parents, Wilbert and Genevieve Gore. Forbes named them the richest people in Delaware in 2019. Robert — who developed the material — died in 2020.
Florida: Ken Griffin, $35 billion
Griffin was the richest person in Illinois before following his hedge fund, Citadel, to Miami. Forbes says the graduate school of Arts and Sciences at Harvard will bear his name following a $300 million donation.
Other notables: Interactive Brokers founder Thomas Peterffy ($24.3 billion); hedge fund manager and Carolina Panthers owner David Tepper ($18.5 billion); Jacksonville Jaguars owner Shahid Khan ($12.2 billion); investing icon Carl Icahn ($11.2 billion); Subway heir Elisabeth DeLuca & family ($8 billion)
Georgia: Jim Kennedy, $8.4 billion
Kennedy shares ownership with his sister and cousins of the privately-held automotive and media company Cox Enterprises.
Other notables: Home Depot cofounds Bernard Marcus ($8.1 billion) and Arthur Blank ($7.6 billion); brothers Bubba and Dan Cathy ($6.6 billion each) who run Chick-fil-A; and Trudy Cathy White ($6.6 billion), daughter of Chick-fil-A founder Truett Cathy
Hawaii: Larry Ellison, $121 billion
The cofounder, chairman, and chief technology officer of Oracle gave up his CEO title in 2014 and now lives on the island of Lanai. Forbes says he bought most of it in 2012 for about $300 million.
Other notables: eBay founder Pierre Omidyar ($9 billion)
Idaho: Frank VanderSloot, $3.1 billion
The founder of Melaleuca, which makes nutrition and wellness products, came from humble beginnings. In addition to his successful business, Forbes says he’s a major landowner with holdings across Idaho, Utah, and Montana.
Illinois: Lukas Walton, $22.6 billion
Forbes previously listed this grandson of Walmart founder Sam Walton as living in Wyoming but now cites his place of residence as Chicago, making him the wealthiest person in Illinois. Walton came into his fortune when his father, John Walton, died in 2005.
Other notables: Ryan Specialty Group founder and CEO Patrick Ryan ($8.8 billion); real estate magnate Neil Bluhm ($6 billion); Beanie Babies creator Ty Warner ($5.7 billion); Hyatt hotel heir and the company’s executive chairman Thomas Pritzker ($5.5 billion); and Mark Walter ($5.3 billion), CEO of investment firm Guggenheim Partners
Indiana: Carl Cook, $10.2 billion
Cook’s parents started the medical-device company Cook Group in their Bloomington apartment in 1963. He took over as CEO after his father’s death in 2011.
Other notables: Indiana Colts owner James Irsay ($3.9 billion); real estate investor and Indianapolis Pacers owner Herb Simon ($3.4 billion)
Iowa: Harry Stine, $7.4 billion
This farmer’s son turned his interest in seed genetics into a fortune, striking lucrative deals with Monsanto, Syngenta, and others. Forbes says he continues to develop seeds that allow for better yields or more resistance to pesticides.
Kansas: Charles Koch, $59 billion
Koch has been CEO of Koch Industries — the business his father started in 1940 – since 1967. Forbes says he currently owns a 42% stake in the company.
Other notables: Garmin cofounder, chairman, and CEO Min Kao and family ($4.3 billion)
Kentucky: Tamara Gustavson, $7.5 billion
Gustavson’s late father, B. Wayne Hughes, cofounded Public Storage in 1972. Forbes says she holds a 10% stake in the company.
Louisiana: Gayle Benson $4.7 billion
The former interior designer and third wife of Tom Benson inherited control of the NFL’s New Orleans Saints and NBA’s New Orleans Pelicans after her husband’s death in 2018 following legal disputes with his daughter and grandchildren.
Maine: Susan Alfond, $2.6 billion
Alfond’s father started the Dexter Shoe Co. in 1958 and sold it to Berkshire Hathaway for shares of that company’s stock in 1993. Forbes says Alfond and her brothers (Ted and Bill) are minority owners of the Boston Red Sox and Liverpool FC.
Maryland: Annette Lerner & Family, $6.5 billion
The heirs of Ted Lerner, following his death in February 2023, own the Washington Nationals and run Lerner Enterprises, a large owner of real estate in the Washington, D.C., area, according to Forbes.
Other notables: Baltimore Ravens owner Stephen Bisciotti ($6.4 billion); Danaher Corp. cofounder Mitchell Rales ($5.5 billion); Washington Commanders owner Dan Snyder ($4.9 billion); Allegis Group cofounder Jim Davis ($4.4 billion); and real estate investor Bernard Saul II ($3.9 billion)
Massachusetts: Abigail Johnson, $21.6 billion
Johnson joined Fidelity Investments as an analyst in 1988, became CEO in 2014, and chairman in 2016. Her grandfather, Edward Johnson II, founded the company in 1946 and she holds about 25% of the firm’s stock.
Other notables: New England Patriots owner Robert Kraft ($10.6 billion); Fidelity heir Edward Johnson IV ($6.8 billion); Elizabeth Johnson, Abigail’s sister ($5.3 billion); Granite Telecommunications founder and CEO Robert Hale Jr. ($5 billion); New Balance chairman Jim Davis & family ($4.9 billion);
Michigan: Dan Gilbert, $18.6 billion
Gilbert was just 22 when he founded what would become Quicken Loans in 1985, using $5,000 he earned from selling pizzas in college, says Forbes. He’s the owner of the Cleveland Cavaliers and cofounder of the online sneaker sales platform StockX.
Other notables: Stryker Corp. director Ronda Stryker ($7.3 billion); United Wholesale Mortgage CEO Mat Ishbia ($7 billion); Grocery chain owners — and brothers — Hank, Doug, and Mark Meijer ($4.6 billion each); Little Ceaser's cofounder and Detroit Red Wings and Detroit Tigers owner Marian Ilitch ($4 billion)
Minnesota: Glen Taylor, $2.7 billion
The founder of Taylor Corp., a printing services company, has ownership stakes in the NBA’s Timberwolves and Minnesota United of Major League Soccer. He also owns the Minneapolis Star Tribune.
Other notables: Stanley Hubbard ($1.6 billion), who runs Hubbard Broadcasting; Corvel Corp. board member Jeffrey Michael & family ($1.4 billion); Cargill heirs Martha MacMillan ($1.2 billion), and John MacMillan ($1.2 billion)
Mississippi: James Duff, $2.3 billion, and Thomas Duff, $2.3 billion
The Duff brothers founded and own Duff Capital Investors, a holding company built from their father’s company, Southern Tire Mart. The business is the nation’s largest truck tire distributor.
Missouri: John Morris, $8.3 billion
The Bass Pro Shops founder and CEO has come a long way since his days of selling tackle out of his father’s liquor store in Springfield, MO. Forbes says the company’s purchase of rival Cabela’s in 2017 nearly doubled the size of the company.
Other notables: Cargill heir Pauline MacMillan Keinath ($6.9 billion); World Wide Technology founder David Steward ($6 billion) and CEO Jim Kavanaugh ($3.7 billion); Scottrade cofounder Rodger Riney & family ($3.3 billion); and Robert Clark ($1.6 billion), founder of construction firm Clayco
Montana: Dennis Washington, $6.4 billion
Washington built his fortune via construction and mining operations. He owns a copper mine and a regional railroad and has stakes in two diamond mines. Forbes says he and his wife have given $960 million to their foundation.
Other notables: Cargill heirs Austen Cargill II and Marianne Liebmann ($3.9 billion each); Linda Pritzker ($2 billion) of the Hyatt hotel empire
Nebraska: Warren Buffett, $112.8 billion
Dubbed the “Oracle of Omaha” for his long history of savvy investments, Buffett’s Berkshire Hathaway owns more than 60 companies including Geico and Duracell. He’s also known for his generosity, promising to give away the bulk of his wealth. Forbes says he’s already donated more than $51 billion.
Other notables: Greater Omaha Packing owner Henry Davis ($2.5 billion); Buckle chairman Daniel Hirschfeld ($1.4 billion)
Related: Warren Buffett Is Worth Over $100 Billion and Still Pays Less in Taxes Than You
Nevada: Miriam Adelson, $37.4 billion
Forbes says the widow of Sheldon Adelson owns more than half of the Las Vegas Sands gambling empire with casinos in Las Vegas, Singapore, and Macao. A doctor, she and her husband founded the Sheldon G. Adelson Research Clinic in Las Vegas. The couple also donated $180 million to Republican candidates and causes in 2020.
Other notables: PeopleSoft and Workday cofounder David Duffield ($10.4 billion); Walmart heir Nancy Walton Laurie ($8.6 billion); cybersecurity firm Zscaler CEO Jay Chaudhry ($5.1 billion); casino owner Phil Ruffin ($3.3 billion); casino owners Lorenzo Fertitta and Frank Fertitta III ($2.9 billion each)
New Hampshire: Rick Cohen & Family ($13.4 billion)
Cohen owns C&S Wholesale Grocers, the nation’s largest grocery wholesaler, according to Forbes. But the family’s wealth largely comes from warehouse automation firm Symbotic, which went public via a SPAC in 2022.
New Jersey: Rocco Commisso, $7.8 billion
When legendary hedge fund manager David Tepper moved took his talents to Florida (for a second time) it opened the position of “New Jersey’s Wealthiest Person” to Mediacom cable company founder and CEO Rocco Commisso. Forbes says he’s also the owner of Italian Serie A soccer team Fiorentina.
Other notables: Cofounder of investing powerhouse Two Sigma John Overdeck ($6.8 billion); investor Peter Kellogg ($3.6 billion); Larry Robbins ($1.9 billion), founder and CEO of Glenview Capital Management; Bloomberg cofounder Duncan MacMillan ($1.7 billion)
New Mexico: Ron Corio, $1.1 billion (2021)
Forbes crowned Corio as New Mexico’s first billionaire in April 2021. But the man who founded Albuquerque-based solar firm Array Technologies fell off the latest list. Corio started the company in 1989 and stepped down as CEO before it went public in 2020.
New York: Michael Bloomberg, $94.5 billion
The former mayor of New York City — and 2020 presidential candidate — is CEO of the financial information and media company he cofounded in 1981. As a philanthropist, he’s donated heavily to gun control, climate change, and other issues.
Other notables: Julia Koch & family ($59 billion); Renaissance Technologies founder Jim Simons ($28.1 billion); Blackstone chairman and CEO Stephen Schwarzman ($27.1 billion); Estee Lauder heir Leonard Lauder ($18.6 billion); media baron Rupert Murdoch & family ($17.4 billion)
North Carolina: James Goodnight, $7.4 billion
Forbes says college friends Goodnight and John Sall (see below) started SAS in 1976 to produce software to analyze agricultural data. Goodnight is still with the firm — which now has more w 83,000 customers — as CEO.
Other notables: Epic Games CEO Tim Sweeney ($4.7 billion); SAS cofounder John Sall ($3.7 billion); real estate developer Roy Carroll II ($2.9 billion)
North Dakota: Gary Tharaldson, $1 billion (2019)
Once the first billionaire in North Dakota, the former gym teacher and insurance salesman has since dropped off the Forbes list. His firm builds and operates hundreds of hotels across the country.
Ohio: Les Wexner & Family, $6 billion
His first venture, The Limited, grew into L Brands, an apparel company that included Victoria’s Secret and Bath & Body Works. He stepped down as CEO in 2020 amid questions about his ties to convicted sex offender Jeffrey Epstein.
Other notables: Denise York & family ($5.1 billion), who Forbes says controls 90% of the San Francisco 49ers; investor and philanthropist Clayton Mathile ($2.3 billion); Medpace CEO August Troendle ($1.8 billion); Norma Lerner ($1.1 billion), widow of MBNA’s Al Lerner, and her daughter Nancy Lerner ($1.1 billion) and son Randolph Lerner ($1.1 billion)
Oklahoma: Harold Hamm & Family, $18.9 billion
Forbes calls Hamm – the founder of Continental Resources, one of the biggest independent oil companies in the U.S. — a “fracking pioneer.” Hamm and his children own nearly all of the company.
Other notables: Hobby Lobby founder Dave Green & family ($14.9 billion); BOK Financial chairman George Kaiser ($12.8 billion); Love’s Travel Stops cofounder Judy Love & family ($10.9 billion); energy investor Lynn Schusterman ($3.2 billion); Paycom CEO Chad Richison ($2.2 billion)
Oregon: Phil Knight & Family, $48 billion
Knight founded and ran Nike for 52 years before retiring in 2016. Forbes says he’s pledged more than $500 million to his alma maters, the University of Oregon, and Stanford’s Graduate School of Business.
Other notables: Timothy Boyle ($2.2 billion), chairman and CEO of Columbia Sportswear, founded by his grandparents in 1938; Travis Boersma ($2.2 billion), cofounder of coffee chain Dutch Bros.
Pennsylvania: Jeff Yass, $28.5 billion
A former professional gambler, Yass is a cofounder of Susquehanna International Group, a giant in options trading with investments in hundreds of private companies including TikTok parent ByteDance, says Forbes.
Other notables: Fanatics founder Michael Rubin ($11.4 billion); candy company heir Victoria Mars ($9.6 billion); Susquehanna International Group cofounder Arthur Dantchik ($7.2 billion); Philadelphia Eagles owner Jeffrey Lurie & family ($4.4 billion); and Erie Indemnity chairman Thomas Hagen ($4.2 billion)
Rhode Island: Jonathan Nelson, $3.1 billion
Nelson founded Providence Equity Partners in 1989, which invests in companies in the media, communications, education, and information industries. Forbes says he was CEO until January 2021 and remains executive chairman of the firm.
South Carolina: Robert Faith, $5.2 billion
Faith is the founder, chairman, and CEO of real-estate firm Greystar, which Forbes says “manages and operates more than $240 billion in real estate across five continents.”
Other notables: Anita Zucker ($1.9 billion), CEO of chemical manufacturer InterTech Group
South Dakota: T. Denny Sanford, $2 billion
Sanford owns First Premier Bank, which Forbes says “specializes in offering credit cards to high-risk borrowers.” He’s given more than $2 billion to charity including $1 billion to Sanford Health, a group of non-profit hospitals.
Tennessee: Thomas Frist Jr. & Family, $22.4 billion
Frist founded Hospital Corp. of America with his father in 1969. HCA owns and operates more than 2,000 care sites, including 185 hospitals, in 20 states.
Other notables: FedEx founder Fred Smith ($5.1 billion); Cleveland Browns owner and Pilot truck stop CEO Jimmy Haslam ($4.8 billion); former chair of Ingram Industries Martha Ingram & family ($3.8 billion); investor Jon Yarbrough ($3.2 billion); Brad Kelley ($2.5 billion), one of the largest landowners in the U.S.
Texas: Elon Musk, $178.2 billion
Musk’s stature on the Forbes list took a hit over the last year — mainly due to his controversial $44 billion purchase of Twitter, financed in part by selling large chunks of Tesla stock. But don’t shed any tears for Elon: Despite his problems, Forbes says he’s still the second-richest man in the world.
Other notables: Walmart heir Alice Walton ($61.4 billion); Dell Technologies chairman and CEO Michael Dell ($54.5 billion); Dallas Cowboys owner Jerry Jones ($13 billion); real estate and sports mogul Stanley Kroenke ($12.9 billion); Andrew Beal ($10.3 billion)
Utah: Gail Miller, $4.2 billion
Forbes says Miller built one of the largest auto dealership groups with her husband, Larry, before selling it in 2021 for $3.2 billion. The family is the former owner of the Utah Jazz.
Other notables: Cloudflare cofounder and CEO Matthew Prince ($1.7 billion); Qualtrics cofounder and CEO Ryan Smith ($1.6 billion); Scott Watterson ($1.6 billion), cofounder of iFIT; Qualtrics president Jared Ryan ($1.4 billion); and Qualtrics cofounder Scott Smith ($1 billion)
Vermont: John Abele, $640 million (2019)
The cofounder and director of medical-device company Boston Scientific was last seen on a Forbes list in 2019 when he was tapped as the richest person in Vermont. Since then, no one from the White Mountain state has been included in the list. USA Today says Abele and his family have given more than $100 million to nonprofit organizations.
Virginia: Jacqueline Mars, $38.3 billion
This well-known philanthropist inherited a one-third stake in candymaker Mars Inc., which her grandfather founded. She serves on the boards of the Smithsonian and the National Archives.
Other notables: Mars heir Pamela Mars ($9.6 billion); SC Johnson heir Winifred J. Marquart ($4.6 billion); Carlyle Group cofounder Daniel D’Aniello ($3.3 billion); Carlyle Group cofounder William Conway Jr. ($2.9 billion); and former America Online CEO and investor Steve Case ($1.4 billion)
Related: Everything You Wanted to Know About M&M’s But Were Afraid to Ask
Washington: Jeff Bezos, $128.7 billion
The Amazon founder’s fortune diminished somewhat in the last year. But that may be partly by design. Forbes says he donated more than $400 million in stock to nonprofits in 2022 — which squares with his stated plan to give away most of his money during his lifetime.
Other notables: Microsoft cofounder Bill Gates ($114 billion); former Microsoft CEO Steve Ballmer ($96.4 billion); philanthropist MacKenzie Scott ($28.4 billion); philanthropist Melinda French Gates ($6.3 billion); and early Microsoft employee Charles Simonyi ($6.1 billion)
West Virginia: Jim Justice II
The two-term governor inherited a coal business from his father and Forbes says his wealth peaked at $1.7 billion in 2018. But he dropped off the Forbes billionaires list in 2021 after news of “previously undisclosed debt” came to light.
Wisconsin: John Menard Jr., $17.4 billion
Founder of home improvement retailer Menard’s, which Forbes says earns an estimated $10.7 billion in sales from more than 300 stores concentrated in the middle of the U.S.
Other notables: Cofounder and chair of ABC Supply Diane Hendricks ($13.4 billion); Judy Faulkner ($7.4 billion), who founded medical-record software provider Epic; and SC Johnson heirs Helen Johnson-Leipold, C. Curtis Johnson, and H. Fisk Johnson ($4.8 billion each)
Wyoming: John Mars, $38.3 billion
John’s grandfather, Frank, founded Mars Inc. in 1911. Forbes says he now owns a third of the company, known for its candy, pet care, and food products. His sister and nieces own the rest.
Other notables: Walmart heir Christy Walton ($11 billion); Ameritrade founder J. Joe Ricketts & family ($3 billion); B. Wayne Hughes Jr. ($2 billion), son of Public Storage cofounder B. Wayne Hughes; Amy Wyss ($1.8 billion), daughter of Swiss billionaire Hansjoerg Wyss
This article was originally published on Cheapism
