American Billionaires: Meet the Richest Person in Every U.S. State

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Do you know the richest person in your home state? While the United States at large prides itself on being home to many of the richest people in the world, each of its 50 states tells a unique story. 

We’ve compiled this list showcasing the richest person in every US state to give you a chance to explore the diversity of entrepreneurship, opportunities, and generational wealth that exists throughout the country.

Table of Contents

Quick Insights: The Richest Person in Every US State

  • While there are only 50 US States, there are 53 people on this list due to several ties
  • 48 out of 53 are billionaires; the only states which do not currently house at least one billionaire are Alaska, Delaware, Vermont, and West Virginia
  • The wealthiest person in the US overall is Elon Musk, representing Texas, worth an estimated net worth of $219 billion
  • Members of all three of the most affluent families in the world appear on this list
  • At least five individuals on the list have at one point been full or part owners of a pro sports team
  • 33 have founded organizations to which they owe a large portion of their wealth
  • At least 17 people on this list have inherited either a company, position, or significant portion of their assets from a family member

Alabama: James Stephens

Estimated worth: $4 billion

The richest person in Alabama is James Stephens, the former chairman of EBSCO Industries. An Alabama native, Stephens left his hometown of Birmingham to Attend Yale and later Harvard Business School. 

The former US Army lieutenant is primarily known for taking over EBSCO Industries, a business founded by his father. Stephens served as the president and later chairman of EBSCO Industries for nearly 50 years.

Alaska: Leonard Hyde and Jonathan Rubini

Estimated worth: $340 million each

Two individuals share the title of the wealthiest person in Alaska: Leonard Hyde and Jonathan Rubini, the co-founders of massive real estate development firm JL Properties. Each owns 50% of the company, of which Hyde is the President and Rubini is the CEO.

JL Properties has a tremendous presence in Anchorage, owning several of its most prominent buildings and a small number of properties elsewhere in the US.

Arizona: Ernest Garcia II

Estimated worth: $8.6 billion

Many people on this list inherited their wealth (or its source) from a family member, such as a parent or spouse. However, only one may attribute their fortune primarily to a son. That accolade goes to Arizona’s richest person, Ernest Garcia II.

As well as Garcia’s history of investing in used car selling and financing businesses, much of his fortune comes from being the largest shareholder of Carvana. Carvana is an online platform in the same industry founded by Garcia’s son, Ernest Garcia III.

Arkansas: Jim Walton

Estimated worth: $66.2 billion

It’s not a list of the richest people in the US if the name Walton doesn’t appear at least once or twice. The Walton family, heirs to the throne of Sam Walton, founder of Walmart, are the richest family not just in the US but in the world.

It should be no surprise then that Jim Walton, the youngest son of Sam, is the wealthiest person in Arkansas. His brother Rob, former chairman of the family retail giant, is the second-richest person in the state.

California: Larry Page

Estimated worth: $111 billion

The title of the richest person in California is a constantly moving target. The ongoing technical revolution radiating out of Silicon Valley, to make no mention of Hollywood or the state’s many other lucrative industries, leads to constantly shifting tides of wealth.

Larry Page, the Google co-founder, is now a board member and controlling shareholder of its parent company, Alphabet. He has recently retaken the top spot in the golden state, supplanting Meta’s Mark Zuckerberg.

Colorado: Philip Anschutz

Estimated worth: $10.9 billion

Colorado’s wealthiest billionaire is Philip Anschutz. He took over his father’s oil drilling company in the early 1960s, and from there, he has led a successful career of investing in stocks, real estate, and railroads.

Anschutz later moved some of his investment efforts into sports and entertainment. Over the years, he has owned large stakes in numerous pro sports teams and contributed to the founding of Major League Soccer (MLS)

Connecticut: Ray Dalio

Estimated worth: $22 billion

The top spot in Connecticut goes to legendary hedge fund manager Ray Dalio. Dalio founded Bridgewater Associates, the world’s largest hedge fund, managing $154 billion in assets. He has served as the company’s co-chief investment officer since 1985.

Delaware: Elizabeth Snyder

Estimated worth: $885 million each

Elizabeth Snyder, an heir to the family fortune of WL Gore & Associates, is the wealthiest person in Delaware. She shared this title with her brother, Bob Gore, former chairman of their parents’ company and inventor of Gore-Tex until he died in 2020.

Florida: Thomas Peterffy

Estimated worth: $20.1 billion

Thomas Peterffy sits atop the stack of one of the most billionaire-populated states in the US: Florida. He is the founder, chairman, and plurality shareholder of the investment firm, Interactive Brokers.

Peterffy was an early pioneer in the field of electronic securities trading. He also owns about 500,000 acres of land across Florida.

Georgia: Bernard Marcus

Estimated worth: $8.7 billion

The co-founder of the Home Depot chain of home improvement stores, Bernard Marcus, is a recent addition to this list. He recently surpassed Jim Kennedy, heir to the Cox Enterprises empire, as the richest Georgian in 2022.

After founding Home Depot in 1979, Marcus served as the company’s CEO and later chairman for over 22 years.

Hawaii: Larry Ellison

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Estimated worth: $106 billion

The richest person in Hawaii is Silicon Valley legend and Oracle co-founder Larry Ellison. He lives on Lanai, the sixth-largest of the Hawaiian islands, of which he owns roughly 98%.

Ellison is one of a small number of billionaires who has no college degree, making him a largely self-taught success story.

Idaho: Frank VanderSloot

Estimated worth: $2.9 billion

Idaho’s wealthiest individual is Frank VanderSloot, founder and CEO of wellness brand Melaleuca. VanderSloot serves on the US Chamber of Commerce board of directors and has engaged in numerous political efforts and campaigns.

Illinois: Ken Griffin

Estimated worth: $27.2 billion

Ken Griffin is the founder of the hedge fund Citadel and the associated market maker Citadel Securities. Citadel is one of several names at the center of the recent and ongoing GameStop short trading controversy, which has opened conversations around transparency and consumer rights in retail investing.

Indiana: Carl Cook

Estimated worth: $11.1 billion

Carl Cook, the richest billionaire in Indiana, has built most of his wealth as the CEO of Cook Group, the medical devices business founded by his parents. He took over the role after his father’s death in 2011.

Iowa: Harry Stine

Estimated worth: $6.9 billion

Harry Stine grew up on an Iowa farm and later founded Stine Seed. Through this business, Stine became a self-made billionaire by licensing corn and soybean genetics to massive companies in the agriculture space, including Monsanto and Syngenta.

Kansas: Charles Koch

Estimated worth: $60 billion

One of four sons of the third-wealthiest family in the world, Charles Koch has spent decades at the helm of the family business, Koch Industries. He took on the role of co-owner, chairman, and CEO of the organization from his father in 1967. Koch has maintained the position since. He ran the business with his brother, David Koch until the latter’s retirement in 2018.

Kentucky: Tamara Gustavson

Estimated worth: $8.5 billion

The richest Kentuckian, Tamara Gustavson, acquired most of her wealth as a significant stakeholder in her father’s storage company Public Storage. She is also the owner of Spendthrift Farm, one of the top thoroughbred breeding farms in the US.

Louisiana: Gayle Benson

Estimated worth: $3.8 billion

A New Orleans native, Gayle Benson is the principal owner of her hometown NFL (the New Orleans Saints) and NBA (the New Orleans Pelicans) teams. After inheriting both teams from her husband Tom in 2018, she became the first woman to be a majority shareholder in both an NFL and NBA team.

Maine: Susan Alfond

Estimated worth: $2.8 billion

Susan Alford, the richest woman in Maine, is one of four siblings to inherit the winnings of their father’s shoe company. In 1993, Harold Alfond sold Dexter Shoe Company to Warren Buffet for $420 million in Berkshire Hathaway stock. Susan Alfond and her three siblings inherited those shares, which have exploded in value.

Maryland: Stephen Bisciotti

Estimated worth: $5.9 billion

Baltimore Ravens (NFL) owner Stephen Bisciotti is the richest person in Maryland. He is the co-founder of Allegis Group, the largest staffing firm in the US. He co-founded the organization with his cousin Jim Davis, not to be confused with the creator of Garfield. 

Massachusetts: Abigail Johnson

Estimated worth: $21.2 billion

Abigail Johnson is the CEO of Fidelity Investments, of which she owns a nearly one-fourth stake, making her the richest person in Massachusetts. Johnson’s grandfather, Edward Johnson II, founded the mutual fund mega-giant.

Michigan: Daniel Gilbert

Estimated worth: $22 billion

Daniel Gilbert, the richest Michigander, is a serial entrepreneur. He has built his wealth through a career of many successful business launches and investments, including Quicken Loans, Rocket Companies, and the sneaker platform StockX. 

Minnesota: Glen Taylor

Estimated worth: $2.5 billion

Glen Taylor is the founder of Taylor Corp, a graphic communication company and one of the largest private companies in the US. He also owns stakes in several sports teams, including the NBA’s Timberwolves, the WNBA’s Lynx, and the Minnesota United FC soccer team.

Taylor is not only the wealthiest person in Minnesota but also one of its political leaders, serving in the state senate from 1981 to 1990. 

Mississippi: The Duff Brothers (James and Thomas)

Estimated worth: $2 billion each

Mississippi brings us another two-way tie: the brothers James and Thomas Duff. The pair inherited a struggling tire business from their father and built it into a business empire. They now own and run at least 18 companies under the umbrella of Duff Capital Investors.

Missouri: Pauline MacMillan Keinath

Estimated worth: $8.8 billion

Pauline MacMillan Keinath is the great-granddaughter of W.W. Cargill, founder of Cargill. Keinath and her family still own roughly a 90% stake in Cargill, the largest food company in the world. Keinath is the largest shareholder, owning approximately 13% of the total. 

Montana: Dennis Washington

Estimated worth: $6.9 billion

Montana is home to only four billionaires. Of those four, Dennis Washington tops the list. 

Washington comes from humble beginnings working in construction. From there, he later founded the multi-sector business group Washington Companies. The group has investments in copper mining, shipbuilding, and a railroad, among other holdings.

Nebraska: Warren Buffett

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Image Courtesy Kent Sievers and Shutterstock.

Estimated worth: $118 billion

When it comes to wealth in Nebraska, there is always one name that stands far above the others: Warren Buffet. Consistently one of the most affluent people in the world overall, the Oracle of Omaha built his wealth analyzing and investing in securities, primarily as the CEO of Berkshire Hathaway.

Buffet famously still lives in the same house he bought in 1958 and has pledged to give 99% of his wealth to charity.

Nevada: Miriam Adelson

Estimated worth: $27.5 billion

Miriam Adelson is the majority owner of the sprawling Las Vegas Sands gambling enterprise, landing her the highest net worth in the state of Nevada. She inherited control of the empire after the death of her husband, casino magnate Sheldon Adelson in early 2021.

New Hampshire: Richard Cohen

Estimated worth: $11.2 billion

Rick Cohen is the owner, chairman, and CEO of C&S Wholesale Grocers, a New-Hampshire-based grocery corporation co-founded by his grandfather. Cohen assumed control of the organization after his father’s retirement in 1989. 

Cohen is also the founder of Symbotic, a warehouse automation company that partners with major retailers, including Walmart and Target.

New Jersey: John Overdeck

Estimated worth: $6.5 billion

John Overdeck is a co-founder and co-chair of Two Sigma Investments, a hedge fund specializing in advanced technological trading strategies. Two Sigma, which Overdeck built along with David Siegel and Mark Pickard, manages over $40 billion in assets and operates out of New York.

New Mexico: Ron Corio

Estimated worth: $1.1 billion

The richest person in New Mexico is also the state’s first billionaire, Ron Corio. Corio is the founder and former CEO of Array Technologies, which creates tracking systems for solar arrays. Despite stepping down as chief officer, Corio still owns about 11% of the company.

New York: Michael Bloomberg

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Estimated worth: $82 billion

Michael Bloomberg is a New York powerhouse financial news mogul. He built his wealth primarily through his eponymous media company, Bloomberg Media Group.

In addition to his business exploits, Bloomberg has also had a significant career in politics. He served as the mayor of New York City for 12 years and briefly appeared as a candidate in the 2020 US Presidential election.

North Carolina: Tim Sweeney

Estimated worth: $7.4 billion

Tim Sweeney, a video game entrepreneur, is the wealthiest person in North Carolina. He is the inventor of the Unreal Engine, a popular platform for game development. He is also the founder of Epic Games, the company that developed Fortnite and the Epic Games PC gaming platform. 

North Dakota: Gary Tharaldson

Estimated worth: $1 billion

Gary Tharaldson is the wealthiest North Dakotan and the state’s sole billionaire. He is a hotelier, operating primarily through the Tharaldson Companies. Tharaldson has amassed a vast portfolio of over 350 commercial and residential properties through acquisitions and new construction.

Ohio: Les Wexner

Estimated worth: $5.8 billion

Les Wexner is the founder and former CEO of Bath and Body Works, Inc (formerly Limited Brands). Through its holdings in Bath and Body Works, Victoria’s Secret, Abercrombie & Fitch, Express, The Limited, and others, Wexner’s retail conglomerate has had a nearly immeasurable impact on the American Shopping Mall experience.

Wexner has also drawn controversy over his long-standing close relationship with Jeffrey Epstein.

Oklahoma: Harold Hamm

Estimated worth: $17.2 billion

Born and raised on an Oklahoma farm, Harold Hamm became the state’s wealthiest resident mainly through his role in the oil industry. He is the founder and chairman of Continental Resources (formerly Shelly Dean Oil Company), one of the largest independent oil companies in the US.

Oregon: Phil Knight

Estimated worth: $47.3 billion

Phil Knight, the co-founder of Nike, is the richest person in Oregon by a mile. He co-founded the athleticwear household brand with Bill Bowerman, his former university track coach, in 1964.

Though Knight retired from Nike in 2016, he still owns a nearly 25% stake in the company. 

Pennsylvania: Jeff Yass

Estimated worth: $12 billion

Jeff Yass started as a professional gambler with poker and horse racing. He later leveraged some of his winnings to co-found the Wall Street options trading firm Susquehanna International Group (SIG). SIG is the largest trader of liquid stocks in the US.

Rhode Island: Jonathan Nelson

Estimated worth: $2.2 billion

Jonathan Nelson is Rhode Island’s wealthiest citizen. He built his wealth as the founder of Providence Equity Partners, a private equity firm that has placed investments in more than 160 companies.

South Carolina: Anita Zucker

Estimated worth: $1.7 billion

Anita Zucker became the richest South Carolinian through her role at the head of InterTech Group. The chemicals manufacturer is a privately owned chemicals manufacturer based in South Carolina. Zucker became CEO after her husband Jerry, the company’s founder, died in 2008.

South Dakota: T. Denny Sanford

Estimated worth: $3.4 billion

Denny Sanford is the founder of First Premier Bank, which he owns through the holding company United National Corporation. He made most of his fortune through the bank and its credit lines for high-risk borrowers.

Tennessee: Thomas Frist Jr. 

Estimated worth: $21.8 billion

Tennessee native Thomas Frist Jr. is the richest man in the state. He earned his MD from Washington University and became a flight surgeon for the United States Air Force.

Frist later co-founded Hospital Corporation of America (HCA) Healthcare. HCA operates medical facilities across the US, plus some locations in the UK. Between 1977-2002 he served on and off as the company’s president, chairman, and CEO.

Texas: Elon Musk

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Image Courtesy Kathy Hutchins and Shutterstock.

Estimated worth: $219 billion

The current claimant to the title of the richest person in the US and the world at large is Elon Musk, who presently resides in Texas. The serial technology entrepreneur has acquired fame and became the world’s richest man through his involvement and leadership in companies including PayPal, Tesla, SpaceX, and The Boring Company.

Utah: Gail Miller and Matthew Prince

Estimated worth: $3.2 billion each

The third tie on our list, and the only one that isn’t due to shared ownership of a pool of assets, goes to Utah’s Gail Miller and Matthew Prince.

Gail Miller has been the owner and chair of the Larry H Miller Group of Companies (LHM Group) since the death of her husband, Larry Miller, in 2009. She is also the former owner of the NBA’s Utah Jazz and a successful line of car dealerships.

Matthew Prince is the co-founder and CEO of the web infrastructure company Cloudflare. The former law professor owns about a 13% stake in the company.

Vermont: John Abele

Estimated worth: $640 million

John Abele is the co-founder of Boston Scientific, a medical device company. Despite his former status as a billionaire, Abele’s wealth has significantly decreased after giving away a significant portion of it to philanthropic efforts. This generosity makes him one of the select few millionaires to make this list.

Virginia: Jacqueline Mars

Estimated worth: $31.7 billion

Heir to her grandfather’s century-old candy company, Jacqueline Mars is a member of one of the wealthiest families in the world. Mars and her two brothers each own one-third of the company, which also now does significant business in pet food.

Jacqueline is not the only member of the Mars family to appear on this list. Her brother John is the richest person in Wyoming, still ahead.

Washington: Jeff Bezos

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Estimated worth: $171 billion

Jeff Bezos is someone who could move to almost any state in the US and be the wealthiest person there. He recently lost the title of the world’s richest person; his staggering wealth is second only to that of Elon Musk.

Bezos started his career and built most of his wealth by founding and running Amazon. In 2021 he stepped down as CEO of the retail megalith. He has since shifted some of his attention to other ventures, including his space exploration company, Blue Origin. 

West Virginia: Jim Justice II

Estimated worth: $500 million

West Virginia’s richest resident and (formerly) only billionaire is its current governor, Jim Justice II. Justice acquired most of his wealth through the family coal business, which his father founded.

The 2021 reveal of nearly $900 million in undisclosed debts led to a significant reduction in his estimated net worth and his removal from Forbes’ list of billionaires.

Wisconsin: John Menard Jr.

Estimated worth: $16.6 billion

John Menard Jr. grew up on a Wisconsin farm and went on to found the Menards chain of midwestern home improvement stores, which he still owns. He is the father of former NASCAR driver Paul Menard.

Wyoming: John Mars

Estimated worth: $31.7 billion

As with his two siblings, John Mars owns an equal third of the family candy company founded by his grandfather in the early twentieth century. His sister, Jacqueline, appeared earlier on this list as the richest person in Virginia.

50 States, 50 Fortunes (Well, Technically 53)

The diversity in volume, origin, industry, and methodology of building wealth across these 50 states is a testament to this country’s deep array of opportunities.

Each state tells a new story — some are stories of multigenerational family legacies, others are of innovation, determination, and people who challenge themselves to do uncomfortable things.

The US holds as many roads to success and prosperity as it does cultural backgrounds, aspirations, and fascinating people with unique ideas. As far as who will build the next gigantic fortune and how they’ll do it, we’ll have to wait and see.


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