When it comes to the wealthiest individuals in the United States, the landscape is as diverse as the country itself. From tech moguls to retail giants, billionaires hail from various industries, each with a unique story of how they amassed their fortunes. This article takes a closer look at the richest billionaire in every state for 2024, highlighting their backgrounds, sources of wealth, and the economic impact they have on their states.
Alabama: Jimmy Rane
Background and Net Worth
Jimmy Rane, famously known as “the Yella Fella,” is Alabama’s wealthiest individual. With a net worth estimated at around $1 billion, Rane’s fortune stems from his highly successful lumber business.
Source of Wealth
Rane is the CEO of Great Southern Wood Preserving, a company he founded in 1970. Known for its pressure-treated lumber, the company has grown into one of the largest suppliers in the nation, contributing significantly to Rane’s wealth.
Alaska: Leonard Hyde
Background and Net Worth
Leonard Hyde tops the list in Alaska with a net worth of approximately $350 million. While not a billionaire, he is the wealthiest individual in the state.
Source of Wealth
Hyde’s wealth comes from his stakes in JL Properties, a major real estate company in Alaska that owns and manages numerous commercial properties across the state.
Arizona: Ernest Garcia II
Background and Net Worth
Ernest Garcia II is Arizona’s richest resident, boasting a net worth of about $8 billion. His fortune is largely tied to the online used car retailer Carvana.
Source of Wealth
Garcia founded Carvana, which revolutionized the car buying experience by offering a fully online platform. The company’s rapid growth and stock market success have significantly boosted his wealth.
Arkansas: Jim Walton
Background and Net Worth
Jim Walton, a member of the Walton family, which founded Walmart, is Arkansas’s wealthiest individual with a net worth of $68 billion.
Source of Wealth
Walton’s wealth primarily comes from his ownership stake in Walmart, the world’s largest retailer, and his involvement in various financial services through Arvest Bank, which he chairs.
California: Larry Page
Background and Net Worth
Larry Page, co-founder of Google, holds the title of the richest person in California with a staggering net worth of $120 billion.
Source of Wealth
Page’s immense fortune originates from Google, now Alphabet Inc., where he played a pivotal role in transforming the company into a tech giant that dominates the search engine market and numerous other tech sectors.
Colorado: Philip Anschutz
Background and Net Worth
Philip Anschutz is Colorado’s richest individual, with an estimated net worth of $11 billion. He is known for his investments in various industries, including energy, real estate, and entertainment.
Source of Wealth
Anschutz’s wealth is diversified across his company, The Anschutz Corporation, which has interests in oil, railroads, real estate, and sports teams, making him a significant figure in multiple sectors.
Connecticut: Ray Dalio
Background and Net Worth
Ray Dalio, the founder of Bridgewater Associates, is Connecticut’s wealthiest person with a net worth of $19 billion.
Source of Wealth
Dalio’s fortune is built on his hedge fund, Bridgewater Associates, one of the largest and most successful hedge funds in the world. His principles on investment and economics have also made him a prominent author and thought leader.
Delaware: Robert Gore
Background and Net Worth
Robert Gore, the inventor of Gore-Tex, is the richest person in Delaware with a net worth of $1 billion.
Source of Wealth
Gore’s invention of Gore-Tex, a waterproof and breathable fabric, revolutionized the outdoor apparel industry. His company’s products are widely used in various applications, contributing to his wealth.
Florida: Ken Griffin
Background and Net Worth
Ken Griffin, the founder of Citadel, a global financial institution, is Florida’s richest individual with a net worth of $35 billion.
Source of Wealth
Griffin’s wealth comes from his hedge fund, Citadel, which manages billions in assets. His success in the financial markets has placed him among the top financiers in the world.
Georgia: Jim Kennedy
Background and Net Worth
Jim Kennedy, the chairman of Cox Enterprises, is Georgia’s wealthiest person with a net worth of $9 billion.
Source of Wealth
Kennedy’s fortune is derived from Cox Enterprises, a conglomerate with interests in media, automotive, and internet services. His leadership has expanded the company’s reach and profitability.
Hawaii: Pierre Omidyar
Background and Net Worth
Pierre Omidyar, the founder of eBay, is Hawaii’s richest resident with a net worth of $21 billion.
Source of Wealth
Omidyar’s wealth primarily comes from his creation of eBay, the online auction platform that transformed e-commerce. He continues to invest in various philanthropic and business ventures.
Idaho: Frank VanderSloot
Background and Net Worth
Frank VanderSloot, the founder of Melaleuca, is Idaho’s wealthiest individual with a net worth of $4 billion.
Source of Wealth
VanderSloot’s wealth stems from Melaleuca, a health and wellness company that sells nutritional supplements and household products. His direct sales model has proven highly successful.
Illinois: Lukas Walton
Background and Net Worth
Lukas Walton, an heir to the Walmart fortune, is Illinois’s richest person with a net worth of $20 billion.
Source of Wealth
Walton’s wealth is inherited from his father, John Walton, and is largely invested in sustainable and socially responsible businesses, reflecting his commitment to environmental causes.
Indiana: Carl Cook
Background and Net Worth
Carl Cook, CEO of Cook Group, is Indiana’s wealthiest individual with a net worth of $11 billion.
Source of Wealth
Cook’s fortune comes from Cook Group, a medical device manufacturer. The company is a leader in the medical field, producing innovative health solutions.
Iowa: Harry Stine
Background and Net Worth
Harry Stine, founder of Stine Seed, is Iowa’s richest person with a net worth of $7 billion.
Source of Wealth
Stine’s wealth is derived from his agricultural business, Stine Seed, which is a leader in soybean genetics and seed production. His innovations have significantly impacted modern agriculture.
Kansas: Charles Koch
Background and Net Worth
Charles Koch, chairman and CEO of Koch Industries, is Kansas’s wealthiest individual with a net worth of $60 billion.
Source of Wealth
Koch’s wealth comes from Koch Industries, a conglomerate with interests in energy, chemicals, and manufacturing. His leadership has grown the company into one of the largest private firms in the world.
Kentucky: Tamara Gustavson
Background and Net Worth
Tamara Gustavson, an heir to the Public Storage fortune, is Kentucky’s richest person with a net worth of $8 billion.
Source of Wealth
Gustavson’s wealth is inherited from her father, B. Wayne Hughes, founder of Public Storage, the largest self-storage company in the US. She remains actively involved in the company’s operations.
Louisiana: Gayle Benson
Background and Net Worth
Gayle Benson, owner of the New Orleans Saints and Pelicans, is Louisiana’s wealthiest individual with a net worth of $3.5 billion.
Source of Wealth
Benson’s wealth comes from her ownership of the NFL’s New Orleans Saints and the NBA’s New Orleans Pelicans. Her investments in real estate and other ventures also contribute to her fortune.
Maine: Susan Alfond
Background and Net Worth
Susan Alfond, an heiress to the Dexter Shoe Company fortune, is Maine’s richest person with a net worth of $2 billion.
Source of Wealth
Alfond’s wealth is inherited from her father, Harold Alfond, who founded Dexter Shoe Company. The company’s sale to Warren Buffett’s Berkshire Hathaway significantly boosted the family’s wealth.
Conclusion
The richest individuals in each state showcase the diverse paths to wealth in America. From technology and retail to finance and real estate, these billionaires have not only amassed significant fortunes but have also left indelible marks on their industries and communities. While their stories are unique, they share a common thread of innovation, determination, and strategic investment.
FAQs
1. Who is the richest billionaire in California? Larry Page, co-founder of Google, is the richest billionaire in California with a net worth of $120 billion.
2. How many billionaires are there in the US? As of 2024, there are over 700 billionaires in the United States.
3. What industries are most billionaires in? Many billionaires come from industries such as technology, finance, real estate, and retail.
4. How does wealth distribution vary across states? Wealth distribution varies widely, with states like California and New York having multiple billionaires, while others may have only one or none.
5. Who is the youngest billionaire in 2024? The youngest billionaire in 2024 is Kylie Jenner, known for her cosmetics company Kylie Cosmetics.
