Most of the world’s largest business empires and mega fortunes have been built in the United States. Not only are 14 of the world’s 25 largest public companies headquartered in the U.S., but 18 of the 25 wealthiest people in the world reside in America, many of whom founded some of the largest companies.
There are billionaires dispersed all across the country, with tech moguls on the West Coast, a coal magnate in West Virginia, and many successful retail tycoons hailing from the South. All but six states are home to at least one billionaire, and the remaining six states have one or more residents with a nine-figure estimated net worth.
To determine the richest person in every state, 24/7 Wall St. compiled data from Forbes’ World 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 company valuations. Data is current as of Aug. 14, 2020. For states that have no billionaire, information on the richest person came from the Forbes list of the Richest Person in Every State, which was published on Jun. 26, 2020.
Many of the people on this list have become significantly wealthier during the COVID-19 pandemic. Demand for the services and products provided by Jeff Bezos’ e-commerce behemoth Amazon and John Menard’s eponymous home improvement store has significantly increased as people have spent more time at home — and their net worths have increased by billions as a result. The companies that are able to safely provide essential services and products are not just reaping the financial rewards, but also are getting an unprecedented public relations boost. Several have become some of the most well-liked businesses in the nation. These are the companies with the best and worst reputations.