The richest person in every state

The US is home to more billionaires than any other country. While it might be tempting to think they all congregate in California, New York, Florida, or Texas, these ultra-rich members of society can also be found in Hattiesburg, Mississippi, or Shelburne, Vermont — or dozens of other cities nationwide. In fact, there are billionaires in 47 states.

In May 2025, Forbes released a list of the wealthiest person in each state. With fortunes across industries like tech, retail, agriculture, and oil, these individuals have a combined net worth of $2 trillion, up a full $400 billion from last year.

Find out who’s the richest person that calls your state home, according to Forbes’ report. The estimated net worths below were accurate as of April 2025.

ALABAMA: Jimmy Rane

Net worth: $1.5 billion

Age: 78

Source of wealth: As the founder and CEO of Great Southern Wood Preserving, Rane helped popularize the lumber business by appearing in commercials as a cowboy known as “the Yella Fella.”

Residence: Abbeville

ALASKA: Jonathan Rubini and family, Leonard Hyde and family

Net worth: $400 million, each

Age: Rubini is 70; Hyde is 68.

Source of wealth: Rubini serves as the CEO and chairman of commercial real-estate developer JL Properties, while Hyde serves as its president. Each of them owns 50% of the business, which also includes properties in Florida and Utah, Forbes reported.

Residence: Anchorage

ARIZONA: Ernest Garcia II

Net worth: $17.3 billion

Age: 67

Source of wealth: Ernest Garcia II owns the used car retailer DriveTime Automotive, the fourth-largest used car retailer in the US. He is also the largest shareholder of Carvana, an online used car dealer founded by his son, Ernest Garcia III, in 2012.

Residence: Tempe

ARKANSAS: Rob Walton and family

Net worth: $113 billion

Age: 80

Source of wealth: Rob Walton and his siblings inherited their wealth from their father, Sam Walton, who opened the first Walmart store in 1962 and founded the discount warehouse Sam’s Club in 1983. Rob Walton, the eldest of the Walton siblings, is also one of the principal owners of the Denver Broncos.

Residence: Bentonville

CALIFORNIA: Mark Zuckerberg

Net worth: $189 billion

Age: 40

Source of wealth: As a student at Harvard, Zuckerberg cofounded a social network known as “The Facebook” in 2004. He went on to become CEO of Meta, the parent company for Facebook, Instagram, WhatsApp, and Threads.

Residence: Palo Alto

COLORADO: Philip Anschutz

Net worth: $16.9 billion

Age: 85

Source of wealth: Anschutz initially amassed his fortune through the discovery of an oil field on the Wyoming-Utah border in 1979 and subsequent investments in railroad companies. He founded Anschutz Entertainment Group (AEG) in 1994, which owns major sports teams and performance venues such as the Crypto.com Arena. AEG is also the parent company of the Coachella music festival.

Residence: Denver

CONNECTICUT: Steve Cohen

Net worth: $21.3 billion

Age: 68

Source of wealth: Cohen founded two hedge funds, SAC Capital and Point72. Until SAC Capital was shut down after pleading guilty to insider trading charges in 2013, it was one of the most successful hedge funds in the world (Cohen himself was never charged). Point72 currently manages over $35 billion, Forbes reported. He also holds a 95% ownership stake in the New York Mets.

A fun fact about Cohen: He loosely inspired Damien Lewis’ “Billions” character, Bobby Axelrod.

Residence: Greenwich

DELAWARE: Elizabeth Snyder

Net worth: $800 million

Age: 77

Source of wealth: Snyder’s parents founded WL Gore & Associates, a manufacturing company that holds over 7,000 patents, in 1958. Gore-Tex, a waterproof fabric used in outdoor apparel and shoes, remains its most profitable invention. Snyder owns around 5.5% of the company, Forbes reported.

Residence: Wilmington

FLORIDA: Jeff Bezos

Net worth: $206 billion

Age: 61

Source of wealth: Bezos founded e-commerce titan Amazon in 1994 and still owns around 9% of the company. As of May 2025, he was the third-richest person in the US behind Elon Musk and Mark Zuckerberg. He’s also the third-richest person in the world, just ahead of Larry Ellison.

Residence: Miami

GEORGIA: Bubba Cathy, Dan Cathy, and Trudy Cathy White

Net worth: $10.7 billion

Age: 71 (Bubba), 72 (Dan), and 69 (Trudy)

Source of wealth: The Cathys are heirs to the Chick-fil-A family fortune. Founded by their father, S. Truett Cathy, in the 1960s, the fried-chicken fast-food chain now has over 3,200 restaurant locations worldwide. Dan Cathy’s son, Andrew Cathy, took over as CEO in 2021. Dan Cathy’s brother, Bubba Cathy, is still the executive vice president.

Residence: Atlanta (Bubba and Don), Hampton (Trudy)

HAWAII: Pierre Omidyar

Net worth: $10 billion

Age: 57

Source of wealth: Omidyar founded eBay in 1995 and became a billionaire when the e-commerce company went public during the dot-com bubble in 1998. eBay also acquired PayPal in 2002 for $1.5 billion.

Residence: Honolulu

IDAHO: Frank VanderSloot

Net worth: $3.2 billion

Age: 76

Source of wealth: VanderSloot is the founder and former chief executive of Melaleuca, Inc., which sells nutritional and wellness products online. Forbes reported that the company now has over one million customers each month.

Residence: Idaho Falls

ILLINOIS: Lukas Walton

Net worth: $39 billion

Age: 38

Source of wealth: Lukas Walton is the billionaire heir to the Walmart fortune and the grandson of Walmart founder Sam Walton. Lukas Walton inherited his vast wealth after his father, John T. Walton, died in a plane crash in 2005 at the age of 58.

He founded Builders Vision, an impact investing group, in 2021, and also chairs the Walton Family Foundation’s environment program committee.

Residence: Chicago

INDIANA: Carl Cook

Net worth: $9.9 billion

Age: 62

Source of wealth: Cook has served as CEO of Cook Group, a medical-device manufacturing company founded by his parents, since his father’s death in 2011. Forbes reported the company made $2.4 billion in revenue in 2024.

Residence: Bloomington

IOWA: Harry Stine

Net worth: $10.2 billion

Age: 83

Source of wealth: Stine is an agricultural pioneer and the founder and owner of Stine Seed, a corn and soybean seed company based in Adel, Iowa.

According to the company’s website, Stine Seed and its affiliates own around 800 patents related to soybean and corn genetic technology. Major licensing deals have helped it become one of the world’s largest private seed companies.

Residence: Adel

KANSAS: Charles Koch and family

Net worth: $67.5 billion

Age: 89

Source of wealth: Koch amassed his billions from serving as co-CEO of Koch, Inc., which produces around $125 billion in revenue each year, Forbes reported.

Founded in 1940 by his father, Fred Koch, Koch Industries — later shortened to Koch — is involved in various businesses, from oil pipelines to paper goods, and is the second-largest private company in the US.

Residence: Wichita

KENTUCKY: Tamara Gustavson

Net worth: $8.1 billion

Age: 63

Source of wealth: Gustavson made her billions as the heiress to the Public Storage empire and as a prize-winning horse breeder. Her father, B. Wayne Hughes, cofounded Public Storage, a self-storage company that now owns and operates thousands of locations across the US and Europe, in 1972.

Forbes reported that Gustavson owns about 10% of the company.

Residence: Lexington

LOUISIANA: Todd Graves

Net worth: $17.2 billion

Age: 53

Source of wealth: Graves, the founder and CEO of the chicken-tender restaurant chain Raising Cane’s, opened his first restaurant in 1996. The company now has nearly 900 restaurants in the US and made $5.1 billion in annual sales in 2024, Forbes reported.

Residence: Baton Rouge

MAINE: Susan Alfond

Net worth: $3.7 billion

Age: 79

Source of wealth: Alfond’s father, Harold Alfond, made a fortune as the founder of the Dexter Shoe Company, once one of the largest shoe manufacturers in the US. Forbes reported that he sold the company to Warren Buffett in 1993 for $420 million in Berkshire Hathaway stock.

Harold Alfond died in 2007, leaving his fortune to Susan Alfond and her three siblings.

Residence: Scarborough

MARYLAND: Annette Lerner and family

Net worth: $5.5 billion

Age: 95

Source of wealth: Lerner’s fortune grew after she loaned $250 to her husband, Ted Lerner, to establish a firm that sold homes to real-estate developers, Forbes reported.

Founded in 1952, it grew to become one of the most successful real-estate companies in the DC area. The Lerners also made their money as owners of the Washington Nationals baseball team.

Residence: Chevy Chase

MASSACHUSETTS: Abigail Johnson

Net worth: $31.5 billion

Age: 63

Source of wealth: Johnson is the chair and CEO of Fidelity Investments — which her grandfather founded — and holds an estimated 28.5% ownership in the company. The Financial Times called her the “quiet queen of American finance” for the way she grew her father’s and grandfather’s business while staying incredibly private.

Residence: Milton

MICHIGAN: Daniel Gilbert

Net worth: $23.7 billion

Age: 63

Source of wealth: Gilbert is the founder and chairman of Rocket Companies, formerly known as Quicken Loans. From 2013 to 2018, under Gilbert’s leadership, the company closed nearly half a trillion in home loans, according to the Gilbert Family Foundation. He also owns the NBA’s Cleveland Cavaliers.

Residence: Franklin

MINNESOTA: Glen Taylor

Net worth: $2.9 billion

Age: 84

Source of wealth: Taylor purchased Carlson Letter Service, a wedding stationery business that he worked for while attending college, in 1975, according to the company’s website. It became the Taylor Corporation, a print services and communications company. A former state senator, he’s also owned several sports teams.

Residence: Mankato

MISSISSIPPI: Thomas and James Duff

Net worth: $3 billion

Age: 68 and 64

Source of wealth: The Duff brothers’ wealth originates from their family business: tires. Their father, Ernest, founded Southern Tire Mart in the ’70s and sold it in 1998. James and Thomas bought it back in 2003 and then cofounded Duff Capital Investors, a holding company, in 2007. Forbes reported it now brings in $5 billion in revenue across over 20 businesses.

Residence: Hattiesburg

MISSOURI: David Steward

Net worth: $11.4 billion

Age: 73

Source of wealth: In 1990, David Steward cofounded IT provider World Wide Technology, which Forbes valued at $20 billion in sales. Citi, Verizon, and the federal government are a few of the company’s clients. An avid fan of car racing, Steward has pushed for more diversity in NASCAR, according to his company bio. In 2018, WWT began sponsoring Bubba Wallace, one of the few Black drivers in the racing organization’s history.

Residence: St. Louis

MONTANA: Dennis Washington

Net worth: $7.4 billion

Age: 90

Source of wealth: Washington owns a business group called Washington Companies, which is involved in mining, rail and marine transportation, and construction. He’s also invested in his son Kyle’s ship business, Seaspan ULC.

Residence: Missoula

NEBRASKA: Warren Buffett

Net worth: $165 billion

Age: 94

Source of wealth: Buffett is one of the best-known and most successful investors of all time. He’s made his fortune via Berkshire Hathaway, which owns brands such as Geico, Dairy Queen, and Duracell. Despite his immense wealth, he’s also known for his modest spending habits. Recently, he announced he’ll retire at the end of 2025.

Residence: Omaha

NEVADA: Miriam Adelson and family

Net worth: $28.6 billion

Age: 79

Source of wealth: Miriam Adelson is on the list after the 2021 death of her husband, casino magnate and major Republican donor Sheldon Adelson. Now, she and her family own over 50% of Las Vegas Sands, a casino company worth over $39 billion. In 2023, she became a majority owner of the Dallas Mavericks, a title formerly held by Mark Cuban. She’s also been a major donor to Donald Trump.

Residence: Las Vegas

NEW HAMPSHIRE: Rick Cohen and family

Net worth: $11.5 billion

Age: 72

Source of wealth: Most of Cohen’s familial wealth comes from Symbotic, a warehouse automation company that has partnered with Walmart. Cohen is the chairman and CEO. In addition, Cohen also owns the US’ largest grocery wholesaler, C&S Wholesale Grocers, which brings in $33 billion annually, Forbes reported. In 2024, his net worth plunged by $9 billion due to his family’s stake in Symbotic, when the company’s stocks tanked.

Residence: Keene

NEW JERSEY: John Overdeck

Net worth: $7.4 billion

Age: 55

Source of wealth: Two Sigma, a $60 billion hedge fund, which Overdeck cofounded, is the source of his wealth. He and David Siegel stepped down as co-CEOs last year, amid a long-term dispute over managing the firm. In high school, he won a silver medal in the International Mathematics Olympiad, and now he serves as chair for the National Museum of Mathematics.

Residence: Millburn

NEW MEXICO: Ron Corio

Net worth: $1.7 billion

Age: 63

Source of wealth: Corio’s billionaire status — the first in New Mexico — stems from Array Technologies, a solar tracking systems business. He is the founder and former CEO, resigning in 2020 before its IPO.

Residence: Albuquerque

NEW YORK: Michael Bloomberg

Net worth: $105 billion

Age: 83

Source of wealth: What hasn’t Bloomberg done? Besides his 12-year stint as the mayor of New York City and an unsuccessful presidential campaign, Bloomberg cofounded Bloomberg LP in 1981. Bloomberg is a media company and a financial firm with revenues of $13.3 billion, as reported by Forbes.

Residence: New York

NORTH CAROLINA: James Goodnight

Net worth: $9.8 billion

Age: 82

Source of wealth: Goodnight and his colleague John Sall (also a billionaire) cofounded a private school, Cary Academy, and also co-own a hotel and country club. But their biggest business venture together is the software company SAS, founded in 1976. It made over $3 billion in sales in 2024, according to the company’s 2024 annual report.

Residence: Cary

NORTH DAKOTA: Gary Tharaldson

Net worth: $1.2 billion

Age: 79

Source of wealth: Tharaldson, the only billionaire in North Dakota, got his start in 1982 when Tharaldson Hospitality purchased a Super 8 Motel. It then became a huge hospitality group and one of America’s largest developers of new hotels.

Residence: Fargo

OHIO: Les Wexner and family

Net worth: $7.8 billion

Age: 87

Source of wealth: Wexner opened The Limited in Ohio in the 1960s. He then founded a retail empire that, at one point, owned brands like Abercrombie & Fitch, The Limited Too, Express, and Victoria’s Secret. Now Wexner’s company has been renamed Bath & Body Works Inc., and solely owns the chain of the same name.

Residence: New Albany

OKLAHOMA: Harold Hamm and family

Net worth: $18.5 billion

Age: 79

Source of wealth: Hamm founded the Shelly Dean Oil Company, now known as Continental Resources, in 1967 when he was only 21. It’s now one of the largest oil companies in the US, thanks in part to Hamm’s decision to use horizontal drilling and hydraulic fracturing in the Bakken region of North Dakota in the ’90s. The company went public in 2007, but in 2022, Hamm and his five children took the company private again in a deal worth $27 billion.

Residence: Oklahoma City

OREGON: Phil Knight and family

Net worth: $29 billion

Age: 87

Source of wealth: One word: Nike. Knight cofounded the iconic brand in 1964 alongside Bill Bowerman. Although Knight retired in 2016, he and his family still own 20% of the company, which, in 2024, earned $51 billion in fiscal revenue, per Forbes.

Residence: Hillsboro

PENNSYLVANIA: Jeff Yass

Net worth: $59 billion

Age: 66

Source of wealth: After spending time as a pro gambler and trader on the Philadelphia Stock Exchange, Yass cofounded Susquehanna International Group in 1987. The successful Wall Street trading firm has a 15% stake in ByteDance, TikTok’s parent company. NBC reported in 2024 that Yass also has a personal share (7%) of ByteDance.

Residence: Haverford

RHODE ISLAND: Jonathan Nelson

Net worth: $3.4 billion

Age: 68

Source of wealth: In 1989, Nelson founded and led the private equity firm Providence Equity Partners. He was CEO until January 2021 and is now its executive chairman. The firm has invested in over 180 companies, including Hulu, Warner Media Group, and Yankees Entertainment and Sports Network (YES).

Residence: Providence

SOUTH CAROLINA: Robert Faith

Net worth: $5 billion

Age: 61

Source of wealth: Robert “Bob” Faith founded Greystar, a global real estate firm, in 1993 and continues to serve as chairman and CEO. Throughout his career, Faith grew Greystar from 9,000 units in the US to more than a million units across five continents, worth more than $315 billion, the company reported in a March press release. The company also has an investment management platform with $36 billion in assets under development.

Residence: Charleston

SOUTH DAKOTA: T. Denny Sanford

Net worth: $2.1 billion

Age: 89

Source of wealth: The University of Minnesota alum made his fortune as the owner of First Premier Bank. Despite having just 17 branches across South Dakota, the bank is one of the largest issuers of Mastercards, in part because it specializes in offering credit cards to those with low credit scores. Often, the cards have low limits and high interest rates.

Residence: Sioux Falls

TENNESSEE: Thomas Frist Jr. and family

Net worth: $26.8 billion

Age: 86

Source of wealth: Frist Jr. cofounded Hospital Corp. of America with his father in 1968. According to its website, the for-profit healthcare company is responsible for 186 hospitals and over 2,400 care sites (like urgent care centers, surgery clinics, and physician clinics) across the US and UK. He and his family own over 20% of the company, and his sons, Thomas Frist III and William Frist, are board members.

Residence: Nashville

TEXAS: Elon Musk

Net worth: $388 billion

Age: 53

Source of wealth: Elon Musk and Jeff Bezos are in a continuous battle for the title of richest person in the US. Musk is CEO of Tesla, CEO and founder of SpaceX, and the founder of neurotechnology startup Neuralink and tunneling company The Boring Company. He also helped found OpenAI, but he left in 2018 and announced his own AI endeavor, xAI, in 2023, which he owns an estimated 54% of, according to Forbes. He also owns an estimated 74% of social media platform X, formerly known as Twitter.

Residence: Austin

UTAH: Gail Miller

Net worth: $4.4 billion

Age: 81

Source of wealth: Miller owns the Larry H. Miller Company, which she founded with her husband, Larry H. Miller, in 1979 after purchasing their first Toyota dealership. The LHM Company’s car dealership business became the eighth-largest in the US, and she sold it for $3.2 billion in 2021, Forbes reported. (Larry H. Miller died in 2009.) LHM’s portfolio also includes companies in real estate, entertainment, sports, and insurance, among others. In 2020, after more than 30 years of owning the Utah Jazz, Miller sold the team and their home arena for $1.66 billion.

Residence: Salt Lake City

VERMONT: John Abele

Net worth: $2 billion

Age: 88

Source of wealth: In 1979, Abele cofounded Boston Scientific, a medical device manufacturer, alongside Peter Nicholas. Boston Scientific focuses on developing more accessible medical technologies, and its products include pacemakers, defibrillators, and stents.

Residence: Shelburne

VIRGINIA: Jacqueline Mars

Net worth: $39 billion

Age: 85

Source of wealth: As the granddaughter of Mars Incorporated founder Frank C. Mars, Jacqueline owns an estimated one-third of the legendary candy, food, and pet-care company responsible for treats like Snickers, Juicy Fruit, and Milky Way. (Her brother owns another third and is the richest person in Wyoming, per Forbes.) She served on the board of directors until 2016, having spent nearly 20 years with the company.

Residence: The Plains

WASHINGTON: Steve Ballmer

Net worth: $118 billion

Age: 69

Source of wealth: Bill Gates hired Ballmer as Microsoft’s 30th employee in 1980. Ballmer went on to serve as the CEO of Microsoft from 2000 to 2014. After retiring, he bought the Los Angeles Clippers for $2 billion and donated millions to the University of Oregon.

Residence: Hunts Point

WEST VIRGINIA: Brad Smith

Net worth: $900 million

Age: 61

Source of wealth: During Smith’s time as CEO and then executive chairman of the finance and business software company Intuit, the company’s revenue almost doubled, Forbes reported. The success came after Intuit revamped its desktop software into a digital cloud-based platform. Now the president of Marshall University, he also chairs Nordstrom’s board of directors and sits on the boards of Amazon and JPMorgan Chase.

Residence: Huntington

WISCONSIN: Diane Hendricks

Net worth: $21.9 billion

Age: 78

Source of wealth: Hendricks earned her billionaire status as the cofounder of ABC Supply, the largest roofing wholesaler in the US, with her late husband Ken Hendricks. Founded in 1982, ABC Supply acquired the building materials distributors Bradco in 2010 and L&W Supply in 2016 with Hendricks at the helm.

Residence: Afton

WYOMING: John Mars

Net worth: $39 billion

Age: 89

Source of wealth: Mars — whose sister is Jacqueline Mars, Virginia’s richest person — is another heir of the Mars family fortune amassed from candy products such as Snickers, Mars Bars, and M&M’s, as well as Pedigree pet food and Uncle Ben’s rice. He owns a third of the $45 billion business.

Residence: Jackson

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