Special Report

Richest Person in Every State

Photo by Prodip Guha / Getty Images

As the 2020 election has brought income inequality to the forefront of American politics, billionaires are under scrutiny across the nation. Every state has residents worth hundreds of millions, if not billions, of dollars. Each state is home to at least one person worth $300 million or more, and 44 states have at least one billionaire. 

To determine the richest person in every state, 24/7 Wall St. compiled data from Forbes’ Real Time Billionaires list. Data on residency and net worth came from the list, which is updated regularly to reflect changes in stock prices and private company valuations. Data is current as of Jan. 13, 2020. For states that have no billionaire, information on the richest person came from the Forbes 400 and the Forbes list of the Richest Person in Every State. 

While many of the richest people in every state inherited their fortune, most could be considered self-made, either through successful investments or founding major companies. While creating a thriving business is never easy, some entrepreneurs on this list had a more favorable business climate than others simply because of where they were located. These are the best (and worst) states for business.

Click here to see the richest person in every state

Source: Courtesy of Auburn University

Alabama: Jimmy Rane
> Est. net worth: $900 million
> Resides: Abbeville

Lumber magnate Jimmy Rane, who advertises his company Great Southern Wood Preserving by posing as his alter ego Yella Fella, is Alabama’s wealthiest person. Rane, whose net worth is estimated at $900 million, continues to live in his small hometown of Abbeville and has made it his personal mission to revitalize the town.

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Source: Fsdbb3 / Wikimedia Commons

Alaska: Leonard Hyde, Jonathan Rubini and Families
> Est. net worth: $300 million (tied)
> Resides: Anchorage

Jonathan Rubini and Leonard Hyde are two of Alaska’s biggest names in real estate. The two own real estate development and management company JL Properties, which owns many properties in Anchorage, including the state’s tallest building, the ConocoPhillips Tower. Rubini and Hyde each own half of the business, giving them a $300 million estimated net worth each.

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Source: Courtesy of DriveTime Automotive

Arizona: Ernest Garcia II
> Est. net worth: $6.2 billion
> Resides: Tempe

Arizona’s Ernest Garcia has made his fortune in the automotive business. He owns major used car retailer DriveTime Automotive and is the largest shareholder of online used car selling platform Carvana. Carvana was founded by Garcia’s son as part of DriveTime before it became a separate system.

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Arkansas: Jim Walton
> Est. net worth: $51.9 billion
> Resides: Bentonville

Jim Walton — the youngest son of Sam Walton, founder of Walmart — is one of the many heirs to the retail giant’s fortune. He also has a slightly larger stake in the company than the other heirs, as well as other investments, making him the richest person in the state. Jim lives in Bentonville, home of the largest company in the world by revenue.

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Source: Alex Wong / Getty Images

California: Mark Zuckerberg
> Est. net worth: $81.9 billion
> Resides: Palo Alto

Mark Zuckerberg, Facebook’s co-founder and CEO, edged out Oracle’s Larry Ellison to become the wealthiest person in California. Zuckerberg had a net worth in excess of $80 billion as of early 2020. He was also the country’s fourth richest person, according to the 2019 Forbes 400. The fifth, sixth, and seventh richest people in America also live in California — Ellison, and Google co-founders Larry Page and Sergey Brin, respectively.

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Source: Bruce Bennett / Getty Images

Colorado: Philip Anschutz
> Est. net worth: $11.5 billion
> Resides: Denver

Philip Anschutz has become one of the wealthiest people in the world by investing in several businesses, including oil, railroads, real estate, and entertainment. His Anschutz Entertainment Group owns and operates arenas and stadiums across the globe. The Denver resident has donated over $100 million to the University of Colorado’s medical center, which was named in his honor.

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Connecticut: Ray Dalio
> Est. net worth: $18.7 billion
> Resides: Greenwich

Ray Dalio is the founder of Bridgewater Associates, the largest hedge fund in the world based on assets managed. His net worth of $18.7 billion makes him the 26th wealthiest person in America. Dalio started the company out of his New York City apartment, but it is now located in Westport, Connecticut.

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Source: Public Domain / Wikimedia Commons

Delaware: Elizabeth Snyder and Robert Gore
> Est. net worth: $885 million (tied)
> Resides: Newark

One of the country’s least populous states, Delaware is not home to any billionaires, and brother and sister Elizabeth Snyder and Robert Gore tie as the state’s wealthiest people — each with a net worth of $885 million. The two share in the apparel company Gore-Tex fortune founded by their parents. Gore, working as a chemical engineer, invented the waterproof material used in Gore-Tex apparel.

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Source: Brendan Smialowski / Getty Images

Florida: Thomas Peterffy
> Est. net worth: $17.6 billion
> Resides: Palm Beach

Florida’s wealthiest resident is Thomas Peterffy, the former CEO of financial services company Interactive Brokers. Peterffy is best known for contributing to popularizing digital high-speed trading. He stepped down as CEO in 2019 but remained as chairman of the board of directors. Peterffy’s LLC owns more than 80% of Interactive Brokers, accounting for the majority of his $17.6 billion net worth.

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Georgia: Jim Kennedy
> Est. net worth: $9.9 billion
> Resides: Atlanta

Atlanta is home to billionaire Jim Kennedy, who inherited media empire Cox Enterprises. The company, which his grandfather founded in 1898, includes cable television company Cox Communications as well as a number of other properties spanning television, newspaper, and the internet. Kennedy was CEO of Cox for 20 years until 2008 and remains as chairman.

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Hawaii: Pierre Omidyar
> Est. net worth: $13.2 billion
> Resides: Honolulu

The founder of auction website eBay, Pierre Omidyar, has an estimated net worth of $13.2 billion. Omidyar, who spent several years of his childhood in Hawaii, moved back to Honolulu in 2006. He invested millions in various business and philanthropic projects throughout the islands, focusing in areas such as local food production, renewable energy, and waste reduction.

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Source: Jeremy112233 / Wikimedia Commons

Idaho: Frank VanderSloot
> Est. net worth: $3.7 billion
> Resides: Idaho Falls

Idaho’s richest person is Frank VanderSloot, the founder and long-time head of consumer products and supplements company Melaleuca. VanderSloot has helmed the company since he started it in 1985. Melaleuca now reports annual revenue of over $2 billion.

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Source: Larry Busacca / Getty Images

Illinois: Ken Griffin
> Est. net worth: $13.1 billion
> Resides: Chicago

Ken Griffin founded global investment fund Citadel in 1990. With an estimated net worth of $13.1 billion, Griffin is the richest person in Illinois and one of the 40 wealthiest people in the United States. Griffin has donated an estimated $900 million throughout his life, much of which went to nonprofits in his home of Chicago.

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Source: Courtesy of Rose-Hulman Institute of Technology

Indiana: Carl Cook
> Est. net worth: $10.4 billion
> Resides: Bloomington

Bloomington’s Carl Cook is the CEO of Cook Group, a long-time maker of medical equipment. The company specializes in devices used in minimally-invasive surgery such as stents and filters. Carl inherited control of Cook Group from his parents, who founded the company. With a net worth of $10.4 billion, Cook is the wealthiest person in Indiana.

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Source: Courtesy of Stine Seed Company

Iowa: Harry Stine
> Est. net worth: $5.4 billion
> Resides: Adel

With an estimated net worth of $5.4 billion, Harry Stine is the wealthiest person in Iowa. Stine made his fortune in the state’s substantial corn and soybean industries. The Stine Seed Company — originally founded in the 1950s by Stine’s father as Stine Seed Farm — today owns hundreds of patents in soybean and corn genetics and does over $1 billion in sales annually. Stine still resides with his family in Adel, where his grandparents first moved in the late 1800s.

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Source: Courtesy of Koch Industries

Kansas: Charles Koch
> Est. net worth: $42.8 billion
> Resides: Wichita

Kansas’ Charles Koch, along with his late brother David, made his fortune building and running Koch Industries, which operates in everything from paper products to chemical manufacturing to oil pipelines. The Koch brothers have been known for their participation in the American political system and for their financial support of conservative candidates, spending over $100 million to promote the Tea Party movement alone.

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Source: Courtesy of Public Storage

Kentucky: Tamara Gustavson
> Est. net worth: $5.0 billion
> Resides: Lexington

Tamara Gustavson is the largest shareholder of self storage company Public Storage, which was started by her father, B. Wayne Hughes, in 1972. Controlling 11% of the company, Gustavson has a net worth of $5 billion. She also sits on Public Storage’s board as well as on the board of American Homes 4 Rent, which was also founded by her father. Gustavson lives on her family’s horse breeding farm, Spendthrift Farms, in Lexington, Kentucky.

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Source: Chris Graythen / Getty Images

Louisiana: Gayle Benson
> Est. net worth: $3.1 billion
> Resides: New Orleans

Gayle Benson became the wealthiest person in Louisiana following the death of her husband, Tom Benson, in 2018. A legal battle with Tom’s children and grandchildren, who claimed he was mentally unfit when he gave her control of his assets, was eventually settled. Benson now owns both of New Orleans’s pro sports teams, the Pelicans and the Saints.

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Source: Courtesy of Getty Images

Maine: Susan Alfond
> Est. net worth: $1.9 billion
> Resides: Scarborough

Susan Alfond is the heiress to the Alfond family fortune. Alfond’s father founded the Dexter Shoe Company, which he sold to Warren Buffett for $420 million in Berkshire Hathaway stock in 1993. As Berkshire Hathaway stock has appreciated, the Alfonds have since made billions.

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Source: Win McNamee / Getty Images

Maryland: Ted Lerner and family
> Est. net worth: $5.5 billion
> Resides: Chevy Chase

Maryland’s Ted Lerner has been one of the biggest names in real estate for decades, getting his start in 1952 selling homes before moving into large-scale development. The Chevy Chase resident now has a net worth estimated at $5.5 billion. In 2006, Lerner bought the MLB’s Washington Nationals.

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Source: Singhaniket255 / Wikimedia Commons

Massachusetts: Abigail Johnson
> Est. net worth: $16.0 billion
> Resides: Milton

With an estimated net worth of $16.0 billion, Abigail Johnson is the wealthiest person in Massachusetts and the sixth wealthiest woman in America. Johnson is the owner of mutual fund group Fidelity Investments, which her grandfather started. IN 2014, she took over as CEO of the firm, which today manages over $2 trillion in assets. Johnson’s siblings and co-heirs to the family fortune, Elizabeth Johnson and Edward Johnson IV, are also billionaires.

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Source: Drew Angerer / Getty Images

Michigan: Daniel Gilbert
> Est. net worth: $6.5 billion
> Resides: Franklin

Daniel Gilbert is the richest person in Michigan with a net worth of $6.5 billion. Gilbert co-founded the mortgage lending company now known as Quicken Loans when he was just 22 years old, in 1985. The company has since grown to become the biggest online mortgage lender, according to Forbes. Gilbert is also the owner of the NBA’s Cleveland Cavaliers.

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Source: Elsa / Getty Images

Minnesota: Glen Taylor
> Est. net worth: $2.8 billion
> Resides: Mankato

Glen Taylor made his $2.8 billion fortune by founding Taylor Corp., a printing services company. Though he no longer serves as CEO, Taylor remains chairman of the company. Taylor has purchased ownership stakes in several Minnesota sports teams, including the NBA’s Timberwolves and the MLS franchise Minnesota United.

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Source: Courtesy of Duff Capital Investors / Southern Tire Mart

Mississippi: James and Thomas Duff
> Est. net worth: $1.4 billion (tied)
> Resides: Hattiesburg

Brothers James and Thomas Duff inherited their father’s tire business, Southern Tire Mart, in 1983 and turned it into the largest truck tire distributor in the nation. The brothers diversified their interests, funding in 2007 Duff Capital, which acquired several businesses over the years. The billionaire brothers are the richest people in Mississippi, each with a net worth of $1.4 billion.

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Source: Spencer Tirey / Getty Images

Missouri: Pauline MacMillan Keinath
> Est. net worth: $6.9 billion
> Resides: St. Louis

Cargill heiress Pauline MacMillan Keinath became the wealthiest person in Missouri after real estate mogul and Los Angeles Rams owner Stan Kroenke moved his primary residence to Texas. Keinath controls 12% of Cargill, which is the largest food company in the world, according to Forbes.

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Source: Courtesy of The Washington Companies

Montana: Dennis Washington
> Est. net worth: $6.7 billion
> Resides: Missoula

With an estimated net worth of $6.7 billion, Dennis Washington is the wealthiest person in Montana. Through his business, Washington Companies, he owns a diversified group of businesses that span several industries such as shipping, rail transport, and diamond mining. Washington has given over $800 million to the Dennis and Phyllis Washington Foundation, a charitable organization.

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Source: Scott Olson / Getty Images

Nebraska: Warren Buffett
> Est. net worth: $89.6 billion
> Resides: Omaha

One of the most successful investors in history, Warren Buffett is worth an estimated $89.6 billion. The Oracle of Omaha is not only the wealthiest person in Nebraska, but also the third richest person in America. Buffett is the chairman and CEO of Berkshire Hathaway, a conglomerate that partly or wholly owns dozens of companies, including Geico, Duracell, and Kraft Heinz. Buffett was born in Omaha in 1930 and has lived there with his family continuously since 1956.

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Source: Ethan Miller / Getty Images

Nevada: Sheldon Adelson
> Est. net worth: $41.4 billion
> Resides: Las Vegas

With an estimated net worth of $41.4 billion, Sheldon Adelson is the wealthiest person in Nevada and one of the 20 wealthiest people in America. Adelson is the chairman and CEO of Las Vegas Sands, one of the largest casino and resort companies in the world. He is a major political donor, contributing more than $123 million to conservative politicians in the 2018 election cycle, more than any other U.S. citizen.

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Source: KathyDewar / Getty Images

New Hampshire: Andrea Reimann-Ciardelli
> Est. net worth: $720 million
> Resides: Hanover

There are no billionaires living in New Hampshire, but with a $720 million net worth, Andrea Reimann-Ciardelli is the state’s wealthiest resident. Reimann-Ciardelli is a descendant of Ludwig Reimann, who in 1828 joined Johann Adam Benckiser as a partner in his chemical company. Now known as JAB Holding Company, the family business has since expanded into consumer goods and today owns such major brands as Coty, Keurig, and Panera Bread. Reimann-Ciardelli sold her JAB stake in 2003.

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Source: Thos Robinson / Getty Images

New Jersey: John Overdeck
> Est. net worth: $6.1 billion
> Resides: Millburn

Hedge fund manager John Overdeck is the richest person in New Jersey with a net worth of more than $6 billion. Overdeck founded Two Sigma Investments, a hedge fund with more than $54 billion under management. The firm largely focuses on quantitative trading, which relies more on the securities and their trending behavior over time, rather than on the underlying companies’ operations.

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Source: Courtesy of Chase Foundation

New Mexico: Mack C. Chase
> Est. net worth: $700 million
> Resides: Artesia

Mack C. Chase is an oil and gas tycoon who grew up and resides in Artesia, New Mexico. Chase started his own oil drilling business in 1968. While the Mack Energy Corporation has since expanded its operations to Texas and other parts of New Mexico, the company’s headquarters remain in Artesia. Through the Chase Foundation, Chase has donated millions to Artesia’s schools, students, athletic fields, health care facilities, and downtown area.

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Source: Drew Angerer / Getty Images

New York: Michael Bloomberg
> Est. net worth: $58.4 billion
> Resides: New York

New York is home to dozens of billionaires, and at the top of this group is investor, media mogul, and former New York Mayor Michael Bloomberg. In 1981, Bloomberg started his investing media company, which also provides trading terminals to businesses and investors. Bloomberg was able to leverage his fame and wealth in the New York area to win a bid for city mayor in 2002, and he served for three terms. As of early 2020, he is campaigning to be the Democratic Party nominee for president.

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Source: Brad Barket / Getty Images

North Carolina: James Goodnight
> Est. net worth: $8.0 billion
> Resides: Cary

With an estimated net worth of $8.0 billion, James Goodnight is the wealthiest person in North Carolina and one of the 100 wealthiest people in America. Goodnight made his fortune in the software industry, founding analytics software firm SAS in 1976. The company is currently the largest employer in Cary, where Goodnight lives.

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Source: Courtesy of Tharaldson Hospitality Management

North Dakota: Gary Tharaldson
> Est. net worth: $1.0 billion
> Resides: Fargo

Gary Tharaldson, the Fargo-based builder and operator of hundreds of hotels across the country through Tharaldson Companies, is the only billionaire in the state of North Dakota. Tharaldson sold 130 of his hotels for $1.2 billion to Goldman Sachs in 2006.

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Source: Public Domain / Wikimedia Commons

Ohio: Les Wexner and family
> Est. net worth: $4.5 billion
> Resides: New Albany

Les Wexner is the founder and CEO of L Brands, a fashion retailer whose flagship brands include Victoria’s Secret and Bath & Body Works. As a philanthropist, Wexner has donated millions to Ohio State University, the area’s Jewish community through the Wexner Foundation, and various other Ohio nonprofits.

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Source: Alex Wong / Getty Images

Oklahoma: Harold Hamm & family
> Est. net worth: $9.7 billion
> Resides: Oklahoma City

Harold Hamm made his fortune in the oil and gas industry. After going to work in the oil fields as a young man, Hamm founded Continental Resources at age 21. Recently, Hamm and his company spearheaded the development of the Bakken oil formation, leading to the North Dakota oil boom. His current net worth is estimated at $9.7 billion, the most of any person in Oklahoma.

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Source: Drew Angerer / Getty Images

Oregon: Phil Knight and family
> Est. net worth: $40.0 billion
> Resides: Hillsboro

Phil Knight is Oregon’s wealthiest resident. Knight and his former University of Oregon track coach founded the company that would become footwear behemoth Nike. Today, Nike is one of the largest employers in Oregon. Knight is also one of the state’s biggest philanthropists, having given more than $1.5 billion to the University of Oregon and Oregon Health & Science University.

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Source: Matt Sullivan / Getty Images

Pennsylvania: Victoria Mars
> Est. net worth: $7.5 billion
> Resides: Philadelphia

Philadelphia’s Victoria Mars inherited in 2016 an estimated 8% stake in Mars Inc., the company founded by her great-grandfather. The candy company, which now owns several other food and pet food brands, has an estimated $35 billion in sales annually. Victoria is one of three heirs to the Mars fortune to rank on this list.

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Source: Courtesy of Providence Equity

Rhode Island: Jonathan Nelson
> Est. net worth: $1.8 billion
> Resides: Providence

Providence, Rhode Island resident Jonathan Nelson is the co-founder and CEO of Providence Equity Partners. The company owns stakes in dozens of companies, largely in media, communications, and information.

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Source: Photo by Ryan Johnson / northcharleston / Flickr

South Carolina: Anita Zucker
> Est. net worth: $1.9 billion
> Resides: Charleston

Anita Zucker is CEO of the Charleston-based InterTech Group, a chemical manufacturing company. Zucker took over the position after her husband Jerry Zucker, who founded the company, passed away in 2008. In addition to her work, Zucker is also a noted philanthropist, giving millions of dollars to various educational causes throughout her home state of South Carolina.

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Source: Courtesy of Sanford Burnham Prebys Medical Discovery Institute

South Dakota: T. Denny Sanford
> Est. net worth: $2.4 billion
> Resides: Sioux Falls

T. Denny Sanford made much of his fortune with First Premier Bank. Sanford now works as CEO of the bank’s holding company, United National Corporation. Sanford has committed much of his immense wealth to improving the lives of children in and around South Dakota. He has donated hundreds of millions of dollars to children’s hospitals and medical schools in the Midwest.

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Source: Eagledj / Wikimedia Commons

Tennessee: Thomas Frist Jr and family
> Est. net worth: $13.0 billion
> Resides: Nashville

Thomas Frist Jr. founded Hospital Corporation of America with his father, Thomas Frist Sr. in 1968. Today, the company owns dozens of hospitals in the United States and the U.K.

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Source: Rick T. Wilking / Getty Images

Texas: Alice Walton
> Est. net worth: $51.7 billion
> Resides: Fort Worth

The daughter of the late Sam Walton, the founder of Walmart and Sam’s Club, Alice Walton is the wealthiest person in Texas and the 11th wealthiest person in America. Unlike her brothers Rob and Jim, who reside in Arkansas near the company’s headquarters, Alice Walton has not served on Walmart’s board or executive team. Walton opened the Crystal Bridges Museum of American Art in her hometown of Bentonville, Arkansas.

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Source: Chris Gardner / Getty Images

Utah: Gail Miller
> Est. net worth: $1.6 billion
> Resides: Salt Lake City

Gail Miller is the head of the Larry H. Miller Group, which she started with her late husband, Larry. The group owns a wide variety of companies, including car dealerships and theater complexes. Miller is also the long-time owner of the state’s only big sports franchise, the NBA’s Utah Jazz. Miller recently placed ownership of the Jazz in the hands of a trust to make sure the team remains in-state for the foreseeable future, but she and her family continue to oversee operations.

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Vermont: John Abele
> Est. net worth: $640 million
> Resides: Shelburne

Though John Abele is retired, he still has a small stake in Boston Scientific, a medical device company he co-founded in 1979. Abele was once a billionaire, but he donated much of his wealth, leaving him with $640 million.

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Source: Pool / Getty Images

Virginia: Jacqueline Mars
> Est. net worth: $30.2 billion
> Resides: The Plains

Jacqueline Mars, heiress to the candy company Mars, Inc. fortune, is not just the richest person in Virginia, but also one of the wealthiest people in the world. She is worth an estimated $30.2 billion, making her the 33rd wealthiest person in the world. Mars, her brother John, and the heirs of her late brother Forrest Jr. own one-third of Mars, Inc. each.

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Source: Alex Wong / Getty Images

Washington: Jeff Bezos
> Est. net worth: $117.1 billion
> Resides: Seattle

Jeff Bezos, founder and CEO of e-commerce juggernaut Amazon, is the wealthiest man in the world. With a current net worth of nearly $117.1 billion, Bezos is billions of dollars ahead of fellow Washington resident Bill Gates, who is the second wealthiest person in the world. Bezos’ empire continues to expand into new businesses. In August 2017, Amazon bought supermarket chain Whole Foods for $13.7 billion. Bezos also owns the Washington Post and aerospace company Blue Origin.

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Source: Scott Halleran / Getty Images

West Virginia: Jim Justice II
> Est. net worth: $1.5 billion
> Resides: Lewisburg

West Virginia is the largest producer of coal east of the Mississippi River and the second largest in the country. Not surprisingly, the state’s wealthiest resident, Jim Justice II, owes his fortune to coal. He inherited a coal business from his father and still owns mines in five states. In 2016, Justice was elected state governor. After running as a Democrat, Justice flipped parties to become a Republican six months after winning.

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Source: Tom Pennington / Getty Images

Wisconsin: John Menard Jr
> Est. net worth: $11.7 billion
> Resides: Eau Claire

John Menard, Jr. derives his fortune from the home improvement store bearing his name, Menard’s. The business has over 300 locations around the Midwest. Menard’s business has been the subject of controversy, including assault accusations from the wife of a longtime business associate.

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Source: WPA Pool / Getty Images

Wyoming: John Mars
> Est. net worth: $30.2 billion
> Resides: Jackson

Like the other billionaires in his family, John Mars’s vast fortune stems from the company his grandfather founded — Mars, Inc. The company makes some of the world’s most recognizable candies, including M&Ms, Snickers, and Twix. John and his sister Jacqueline each own a third of the company, and the rest is divided among the four daughters of his late brother Forrest Jr.

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