Forbes - USA (October 2019)

DIVERSE DESTINATIONS. DIVERSE LEADERSHIP









Arnold Donald, President and CEO
Carnival Corporation & plc
Past CEO, Executive Leadership Council


Valuing Diversity,


Embracing Inclusion.



Our values on diversity and inclusion are

reflected in our people, our brands, our

ports of call and our guests. We value

and promote inclusion, equal respect,
equal voice and equal opportunity for

each team member.













Orlando Ashford, President Julia Brown, Chief Procurement Officer Gary Eppinger, Chief Information Security Officer
Holland America Line Carnival Corporation & plc Carnival Corporation & plc
Past Chair, Executive Leadership Council Director, Executive Leadership Council Member, Executive Leadership Council






























Our diverse team of employees ashore and onboard

come from over 140 countries. Each brings distinct

life and cultural experiences. By including diverse

perspectives, we support a culture of empowerment that
drives innovation and new ideas. Together, we create

vacation experiences, deliver memorable moments

and exceed guest expectations around the world.

PROMOTION



Conversations at the Top



Marvin Ellison, CEO, Lowe’s Companies, Inc.





SKIP SPRIGGS: How did your upbringing help form your make is to surround themselves with people that think like
views around inclusion? them and look like them. You’re just limiting the strategic
discussion that’s going to take place. I often say, “Look, if
MARVIN ELLISON: I was raised in a small, segregated everybody is going to agree with me, I’ll cancel the meet-
Southern town, but my parents were very progressive think- ing and make all the decisions myself.” That’s my way of
ers. My dad would never allow us to say, “Well, this group of encouraging spirited debate.
people are bad because of what they did during Jim Crow.”
You have to take the time to get to know people as indi- At the end of the day, we are each products of where we come
viduals and never paint groups with broad brushstrokes. For from and what we’ve done. If you really bring those things
me, that translates into making sure that everyone has the to the table, and those things become part of your decision
opportunity to be viewed as an individual, not a stereotype. making, that’s a powerful combination to have. That’s what
I’m trying to facilitate.
And I remember college—a
large, urban university—where SS: Yes, right on, Marvin. And I
I’m sitting next to somebody from just saw your phenomenal sec-
Japan, somebody from Africa. ond-quarter results. One last
I loved to talk with them about question. With so much media
how they grew up. I learned the attention to race and gender
enriching, really magical aspects issues, it seems awareness
of the broadest array of what around diversity and inclusion
diversity means. has never been higher. Are you
getting any different communi-
Today, at Lowe’s, we don’t want cations from investors yet?
an environment where your
uniqueness doesn’t matter. The ME: To be honest with you, it
fundamental thing is: Can you hasn’t changed much. Most
do the job effectively? So we investors are focused on the
have to change the way some management team’s ability to
people think about individuals run the company with effective-
based on a stereotype. Every- ness and integrity.
one brings something special
to the table. But since I’m one of very few
African Americans running a
SS: Are there certain things major public company, part of
you do at Lowe’s to amplify ,I , SHUIRUP ZHOO WKHQ ,ŖP the role I take on is education
that message? of my leadership team and my
hoping the door opens for board of directors.
ME: Well, I’m a big believer in
the old saying “Talk is cheap.” RWKHUV ZKR ORRN OLNH PH WR When communicating with my
What really matters is your management team and board,
actions. When I got the chance EH QH[W LQ OLQH ř I want to be authentic. I take
to build this leadership team, the lead in having uncomfort-
we went out and hired diverse able conversations, not to be
executives. Now when I talk provocative but to help answer
about diversity and inclusion, the words carry weight. It’s questions where others’ lenses may not give them the whole
encouraging to see someone who looks like you being suc- vantage point. I try to create an environment where people
FHVVIXO DQG LW FUHDWHV D ULVLQJ WLGH ,W JLYHV \RX FRQŻGHQFH are not afraid to have those conversations, and I challenge
that you can get there too. others to lead if it is something that matters to them.


SS: Does having a diverse set of people around your senior I know I have an obligation to perform well every day,
leadership table lead to better business decisions? because that’s the ultimate scorecard for a public company
CEO. And if I perform well, then I’m hoping the door opens
ME: One hundred percent. The worst mistake leaders can for others who look like me to be next in line.



12 | DIVERSITY

ELC CEO Skip Spriggs welcomes former Obama White House Counselor
Valerie Jarrett, with (l to r) Deloitte Board Chair Janet Floutty; Helene Gayle, president
and CEO, Chicago Community Trust; ELC Board Vice Chair Crystal E. Ashby; and ELC
Board Chair Tonie Leatherberry






the full organization and creating a their professional effec-
career development plan. Two three- tiveness and ignite their
day courses—Leading Innovation and careers. The corporate
Navigating the Corporate Landscape— co-lead sponsors are
offer the same population strategies Target and the PepsiCo
for influencing key decision makers, Foundation, and the sup-
strengthening innovative behaviors porting sponsors are
and embracing perspectives that can HSBC, FedEx, Citi, Bristol-
lead to organizational transformation. A Myers Squibb, Goldman
third three-day course—Strategic Path- Sachs, Apple, JPMorgan
ways—offers black women in that senior Chase and Honeywell.
cohort unique strategies for increasing ELC members share their
their leadership capacity. The fourth experiences in panel dis-
three-day course—Bright Futures— cussions and small group
offers newer black managers basic meetings.
leadership and management skills so For one year follow- Laysha Ward, executive vice president,
Target Corporation, welcomes 1,000 participants at
they can earn broader responsibilities. ing MLMS, all participants
The ELC’s Mid-Level Managers’ Symposium
More than 300 “students” attended LDW become Institute Fellows, join-
East and West. ing an online network affording
Now in its 25th year, the Mid-Level them access to The ELC’s Digi-
Managers’ Symposium (MLMS), in tal Learning Platform and the Fellows a single responsibility to shareholder
conjunction with the Annual Recogni- directory. value and toward a suite of responsi-
tion Gala, is a two-day event where In a groundbreaking move this sum- bilities to customers and employees
nearly 1,000 mid-level corporate man- mer, the Business Roundtable issued as well, including “foster[ing] diversity
agers engage with ELC members and its Statement on the Purpose of a Cor- and inclusion, dignity and respect.”
business thought leaders to provide poration, redefining the responsibilities The new definition reaffirms the impor-
leadership strategies and lessons of a corporation. The group of roughly tance of The ELC’s mission.
through the lens of race and gender, 200 CEOs representing the largest U.S.
explore the tools needed to improve companies declared a shift away from COMPETITIVE SCHOLARSHIPS



DIVERSITY | 13

PROMOTION





Oil Company’s need to attract and retain
millennial and Gen-Z employees. The
winners were teams from The Wharton
School of the University of Pennsylva-
nia (1st Place), Duke University’s Fuqua
Our purpose is to leverage the depth School of Business (2nd Place) and

Miami Business School (3rd Place).
and breadth of our members’ expertise. The Award for Excellence in Business

Commentary, which has been spon-
Our leadership initiatives and programs sored by The Coca-Cola Foundation for

VSHDN WR WKH GHSWK 1RZ ZH DUH over 20 years, invites black undergradu-
ate business students to compete in a
VSHDNLQJ WR WKH SRWHQWLDO EUHDGWK ř national writing competition centered
on exploring business trends, issues and
insights. The Ann Fudge Scholarships
(named for the first woman to head
The ELC’s Board) and Alvaro L. Mar-
On an annual basis, The ELC awards and MS students from the nation’s top tins Scholarships (named for The ELC’s
more than $500,000 in competitive business schools to form teams, led by founder) are designed for business stu-
scholarships for college and graduate a black team leader, to analyze a timely dents attending one of the nation’s top
school students who demonstrate aca- business issue that demonstrates the historically black colleges and universi-
demic excellence, leadership skills and a students’ critical thinking, analytical and ties (HBCUs). The ELC is proud to partner
commitment to community service. communication skills. This year’s com- with Linde and Nationwide Mutual
The National Business Case Com- petition attracted more than 50 teams Insurance Company to create Linde’s
petition, sponsored by Exxon Mobil and challenged them to develop viable Engineers of Tomorrow and Nation-
Corporation, invites graduate MBA, MA VROXWLRQV WR VXSSRUW WKH ŻFWLRQDO *UHHQ wide’s Future Leaders Scholarship




Edward Jones: Encouraging



Associates To Improve


Their Communities





In the heart of North St. Louis city lies the La Salle Charter feel a unique responsibility
School, which provides programs that contribute to a 98% to support the places
high school graduation rate. For the past seven years, ZKHUH ZH KDYH ŻQDQFLDO
Demetrius Grooms has passionately served as a leader and advisors, because they
the founding board chair at the school. are engaged in the
Working at a purpose-driven organization headquartered community.”
in one of the top philanthropic cities in the country, “there are As tough as it is
so many causes you can get involved in if you’re passionate to sit for long hours in
about making a change,” says Grooms, an Edward Jones a boardroom tackling
principal in retirement and new account operations. complicated issues, “it’s the
Grooms is committed to education and the eradication people coming together
of poverty, with its destructive effects on health, housing to lend their time, treasure DEMETRIUS GROOMS
and jobs. “I’m supporting the work Edward Jones is doing to and talent” that gives him Principal, Retirement and New
Account Operations, Edward Jones
deepen its relationship with the Urban League, because they the most powerful sense of
do so much to improve our communities,” he says. community.
Grooms also serves on the boards of Rx Outreach, a Grooms joined Edward Jones in June 1998 and has
nonprofit that provides discounted medicine to people served in various roles. He was named a principal with the
in need, and Beyond Housing, which helps communities ŻUP LQ
become better places to live. Grooms earned bachelor’s degrees in applied
“What’s great about Edward Jones is our business mathematics and education from St. Louis University and
model,” he says. “We are embedded in the community. We an MBA from Webster University.



14 | DIVERSITY

Chris Lewis
General Counsel
Edward Jones

































































COMMITED TO:


INCLUSION. DIVERSITY. COMMUNITY.








Serving our clients and our communities starts with a commitment to an
inclusive and diverse workforce and leadership team. From our Cross-Cultural
Development Program, which helps financial advisors build successful
businesses in diverse communities, to coaching and mentoring individuals

from diverse backgrounds. We're not just trying to create a better workplace.
We're trying to create a better world.

Visit edwardjones.com to learn more.











Copyright © 2019 Edward Jones. All rights reserved. Member SIPC. Photograph by Wesley Law. CAU-11880-A

PROMOTION





Programs. Linde’s scholarship was
established to provide opportunities
for minority college students pursuing
careers in engineering, and Nationwide’s
scholarship was established to support
students pursuing degrees in business,
insurance and risk management or a
UHODWHG ŻHOG
Scholarship recipients are invited
to attend the Honors Symposium, a
four-day professional development
bootcamp focused on introducing
the recipients to a wide range of busi-
ness-related careers and industries to
encourage their continued interest in
business careers.

LEADING WITH PURPOSE:
PIVOTING TO THE NEW
While never turning from its North
Star, The ELC also embraces broader
leadership responsibilities that
accompany its unique and presti-
gious membership. “We’ve always
been a corporate-centric company,”
(cont’d page 20) Participants at the 2019 ELC C-Suite Academy




FedEx: Career Progression—



Advice For Advancement



As the highest-ranking African American women executives at FedEx, Gina Adams and Gloria Boyland are role models to
many. Here, both share the best advice they’ve received during their rise to the top.




GINA ADAMS GLORIA BOYLAND
Corporate Vice President, Corporate Vice President,
Government and Regulatory Affairs Operations and Service Support

I’ve been fortunate to spend most of I am fortunate to have received
my career at a company that values lots of excellent, life-directing
its employees and recognizes the advice from family, friends, sponsors
importance of diversity. Consequently, and mentors.
I’ve enjoyed a success at FedEx that has been personally
rewarding and delightfully challenging. We’ve got a lot If I must, I would select the following: “Sometimes it is
more to do, and I look forward to being part of that growth better to be liked than to be good.” I always remember
and innovation. this advice because it sets the stage for having a
That said, I often think about—and share—some of positive impact on those at home, at work and in the
what I’ve learned over the years from others: community. That “win” you have which leaves the other
person or team with the feeling that they’d prefer not to
• Don’t believe your own hype. interact with you again is actually a “loss.” For women, it
• Recognize the dignity in all work. is important to note that being “likable” does not mean
• Be willing to ask questions and collaborate. we can’t be powerful, strong, vocal and assertive. It just
• Build a legacy of helping and promoting others. means that, as with everyone, being a positive actor is
• Keep your word—and never, ever treat anyone poorly. the best path to long-term success.



16 | DIVERSITY



Lowe’s: CEO Marvin Ellison’s



New Blueprint For Diversity





The 190,000 full-time and 110,000 part-time associates who about purchases in our stores, so this BRG just makes business
work at home improvement giant Lowe’s serve more than sense,” he says.
18 million customers every week. And since Marvin Ellison Lowe’s hosted a two-day Women’s Leadership Summit that
took over as CEO in the summer of 2018, there’s been a brought together 500 women employees, including many store
renewed commitment to diversity and inclusion across the managers, in August. “The group included women of all ethnici-
entire operation. ties, and they had the opportunity to collaborate with women
-DQLFH /LWWOH /RZHŖV FKLHI GLYHUVLW\ RIŻFHU DQ (/& PHPEHU they did not know, from across the entire business,” says Frie-
and one of Black Enterprise’s top 35 women in corporate diver- son. “One young woman said to me, ‘This is what I like about
sity, says the impact can already be felt. “We started from ground the new management team. You are listening to us.’ We’re on
level, and we’re now racing up the maturity curve,” she says. the right track.”
“Partnering with ELC has been a wonderful resource for Quonta D. Vance, a Lowe’s division president who joined the
our associates and leaders,” says Little of creating a busi- company this year, is part of the leadership team that runs the
ness model with diversity and inclusion at its core. “Speaking black BRG. “It’s really refreshing to have leaders like Marvin and
with our associates who attended ELC’s Leadership Devel- the rest of his team giving us the push. It comes from our store
opment Week or Mid-Level Managers Symposium, they state associates also, who tell us, ‘Hey, we like to see you guys doing
how proud they are to work for Lowe’s, who is investing in more to celebrate diversity and inclusion.’” Associate feedback
their development. Associates return from programs with a plays a key role in planning for key programming for future
renewed commitment to Lowe’s and ready to contribute at events like Black History Month 2020, he says.
a higher level to help us achieve our mission. That’s a really As CEO, Ellison feels strongly about the role of the BRGs
strong business tie.” in advancing the company’s diversity and inclusion strategy.
Lowe’s Business Resource Groups (BRGs) — executive- “I’d have done anything to have one when I started out, just to
sponsored, associate-led groups — were launched by Ellison answer simple questions like, ‘Where’s the nearest barber?’
and Little and are more than just employee get-togethers. “We $QG DOVR KDUGHU TXHVWLRQV OLNH ŕ+RZ GR , ŻQG D PHQWRU"Ŗř KH
call them ‘business’ on purpose,” says Little, “because we want says. BRG executive sponsors report directly to him. “They have
our business to rely on them to help us shape our customer large functional budgets,” says Ellison, “so they can properly
commitment.” Lowe’s BRGs are both for associates who iden- fund their BRGs.”
tify with a particular culture and those who want to learn about Frieson adds, “ Marvin often says we have only two types
that culture, and each BRG is purposely assigned an execu- of associates here, those who directly serve customers and
tive sponsor from a different background to promote broader those of us who serve associates who serve customers. We’re
cultural competency and gain visibility among company all together moving our company from good to great.” With that
leadership. in mind, Ellison has shared his direct email address to 300,000
Donald Frieson, executive vice president for supply chain associates, and he answers all the questions he receives from
and the executive sponsor of the Lowe’s women’s BRG, joined them. “And believe me, they ask!” says Ellison. “I want them to
Lowe’s with Ellison a year ago. “Women make most decisions hear directly from me. We’re going to respect everyone.”



18 | DIVERSITY



PROMOTION





entrepreneurs and thought leaders as
ELC members is an immediate response.
“We’re going directly to them to learn
their needs,” she continues, “and we’re
creating custom programming for them.”
The common characteristic of all Ready resources are ELC legacy mem-
bers, the 25% of members who have left
these leaders, regardless of their corporate careers, many of them with-

entrepreneurial experience as well.
professional backgrounds, is they At the same time, The ELC is continu-
ing to leverage its collective voice for
ZDQW WR KDYH DQ LPSDFW ř its community to inspire others toward

more business success, financial
growth and stability and community
wealth. “We know where we started,
what we did to arrive where we are,”
explains Spriggs, “but our purpose is capabilities of executives, educators, says Crystal E. Ashby, The ELC Board’s
to leverage the depth and breadth of entrepreneurs, policy makers, govern- vice chair. “We still go home at night,
our members’ expertise. Our leader- ment officials, thought leaders—for we go to church, our kids play on
ship initiatives and programs speak to sustainable, enduring common good,” sports teams, we see our neighbors
the depth. Now we are speaking to the says Orlando Ashford, a former chair at the grocery store. We may not live
potential breadth.” of The ELC Board and president of Hol- where we grew up, but we still have
“The ELC lives in and comes from the land America Line. family there. We want to reach beyond
corporate world, so we’re in the right “The ELC is evolving with the busi- the places where we play large to oth-
position to intersect and integrate all ness community,” says Leatherberry, “so ers in our community.”
the different levers—the insights and we can continue serving it.” Including




TIAA: A Financial Services



Giant That Works For You



With more than $40 billion in annual revenue and almost $1 about the experience, and
trillion in assets under management, TIAA is not only among 7,$$ EHQHŻWV IURP EHWWHU
WKH ZRUOGŖV WRS HDUQHUVŔWKH ŻQDQFLDO VHUYLFHV RUJDQL]DWLRQ retention.”
is also consistently ranked among the top employers for Sponsoring events to
promoting a culture of diversity and inclusion. showcase black leaders
One of its greatest assets, in that pursuit, is its Business and achievements,
Resource Group model, which fosters leadership Empowered has ensured
development opportunities and cultural awareness that celebrating diversity is
company-wide. “Our job is to align with TIAA’s business a company-wide initiative.
through building a shared sense of community,” says Alexander remembers one
Ernest Alexander, TIAA’s director of operations and the event in particular that the
ERNEST ALEXANDER
national co-chair of Empowered, its African American and entire staff rallied behind: TIAA Managing Director and
Caribbean professionals resource group. “When Ken Chenault,” the National Co-Chair, Empowered
“This year we piloted a powerful new recruitment event,” former CEO and chairman
says Alexander. “We brought close to 150 HBCU [historically of American Express, “spoke about his career in our New
black colleges and universities] students for two days at our York headquarters, we broadcast it across all our locations,
campus in Charlotte to learn more about TIAA and meet and it was standing room only!”
some of our people—including our CEO Roger Ferguson. “TIAA has a deep commitment to attracting, retaining
It was so successful, we’re going to repeat it in other parts and developing employees from diverse backgrounds,”
of the country.” adds Glenn Richter, senior executive vice president, chief
Empowered also provides resources to help employee ŻQDQFLDO RIŻFHU DQG H[HFXWLYH VSRQVRU IRU WKH (PSRZHUHG
members advance within the company. “In our mentoring BRG at TIAA. “We understand that our ability to create a
program, we match senior employees with newer ones,” diverse and inclusive culture for employees enhances our
says Alexander. “Mentors and mentees are both enthusiastic ability to understand and serve our customers.”



20 | DIVERSITY

Valuing our differences




works for all of us.




























TIAA proudly supports the work of the

Executive Leadership Council and continues

to embrace initiatives that foster respect,

inclusion and opportunity. TIAA.org/diversity INVESTING ADVICE BANKING RETIREMENT




TIAA is an Equal Employment Opportunity/Affirmative Action employer committed to fostering workforce diversity and inclusion.
©2019 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017

PROMOTION





REFRESHED MEMBER
VALUE PROPOSITION
The ELC’s refreshed Member Value
Proposition anticipates and supports
those who aspire to success in a chang-
ing landscape. Millennials, for example,
raise new concerns. “They talk about
lifestyle issues, like work-life balance,
having a variety of work experiences,
repaying student loans, which are caus-
ing them to postpone marriage and
children, and taking care of children and
parents at the same time,” says Teresa
Payne-Nunn, ELC’s new vice president
DQG FKLHI PHPEHUVKLS RIŻFHU
The experiences and aspirations of
corporate leaders—legacy members
along with current younger leaders—are
blending with the aspirations of entrepre-
neurs, who want to move from startup to
sustainability. “The value proposition
GRHVQŖW KDYH WR EH RQH VL]H ŻWV DOO ř VD\V
Barzey. “It just has to be all encompass-
ing of our membership.”
Elynor Williams (r), former Sara Lee executive and sole woman among The ELC’s 19
founding members, regales the 300 attendees of The ELC’s Women’s Leadership Forum, with
moderator Westina Matthews Shateen, creator of the annual event







Gregory E. Deavens

Treasurer, Board of Directors, The Executive Leadership Council
EVP, CFO, Treasurer, Independence Health Group



At Independence Health Group, we see the value in diverse ideas, experiences and perspectives. We
believe that the power of diversity helps us build a strong and vibrant workforce, create unique
health care solutions for our members and attract and serve a broad base of customers.

As a company, we are committed to making diversity and inclusion a way of operating and doing
business. That commitment is embodied in the unwavering support of the Independence board

of directors and is advanced by our CEO and management teams. The 10,000 associates we employ
corporate-wide also embrace, nurture and celebrate what makes them different through
participation in company-sponsored volunteer projects, identity groups, activities and clubs.

A well-defined supplier diversity program like ours encourages new products, ideas, services and
solutions. It promotes innovative ways of thinking about how to deliver care to our members when
they’re at their most vulnerable.


In 2018, Independence’s supplier diversity program celebrated a landmark spend of more than $100
million with diverse suppliers. This was achieved through a multi-year strategy across all of our
affiliates to build alliances with businesses owned by people of color, veterans and women.

I’m proud to have the opportunity to help ensure that our business relationships reflect the diversity
of the community in which we live and work. And I’m equally proud to play a role in creating a work
Independence Health Group environment that is both diverse and inclusive.






22 | DIVERSITY

It’s all about our people









Our diverse workforce is what makes our



company great.






For more than 80 years, our associates have been committed to the


individuals, families, and communities they serve — dedicated to helping



our members navigate the health system, get well, and stay well.




Our sincerest thanks to all our associates for making


Independence Health Group such a great place to work!

ELC C-Suite Academy participants






focused on the success of The ELC In today’s global economy, with instan-
in serving our members.” taneous information, “the ELC has a
meaningful opportunity to be proactive,
EXTERNAL ADVOCACY WR GHŻQH DQG RZQ RXU EUDQG DPRQJ NH\
For over 30 years, The ELC has decision makers,” adds Marketing Com-
relied on its members to “serve as mittee co-chair Ed Dandridge, global
ELC brand ambassadors in their head of marketing and communications
companies and in the world,” for AIG’s General Insurance business.
says Leilani Brown, ELC Board “We have a unique and enduring pur-
secretary, co-chair of the Board’s pose. We need to be authentic and clear
Marketing Committee and senior about what we stand for and why.”
vice president of strategic part- One successful avenue has been The
nerships at K12. “And they do it ELC’s External Advocacy Committee’s
effectively. Yet The ELC remains proactive engagement with members of
one of the best-kept secrets, the U.S. Congress who support diversity
and that’s not to anybody’s ben- and inclusion. The reception The ELC
HŻW QRW WR 7KH (/& WR FRUSRUDWH holds annually during Congressional
ELC CEO Skip Spriggs jokes with Patti LaBelle America, to the business com- Black Caucus (CBC) week is a popular
at 2018 ELC Annual Recognition Gala
munity or to our community.” result, and already Caucus members
Now, The ELC has begun “reach out to ELC leaders for policy
sharing its knowledge and input or to sit in on a hearing,” says Barry
experience beyond the cor- Granger, co-chair of The ELC’s External
“We are receiving more membership porate context. “We are a business Advocacy Committee and founder and
applications than ever,” reports Barzey, organization with a vast reservoir of head of the private equity company B3
“and they are looking for business suc- content expertise on any and every Technology Investments.
cess but also a deeper purpose for their ŻHOG RI EXVLQHVV HQGHDYRU ř VD\V /XFLD Because The ELC actually evolved
lives.” Leatherberry sees The ELC’s future Riddle, co-chair of The ELC’s External from the unsuccessful efforts of ELC
in this rich blend: “The common character- Advocacy Committee, “and our very founder Alvaro Martins to save a Texas
istic of all these leaders, regardless of their presence on panels or at congressional HBCU from bankruptcy, strengthening
professional backgrounds, is they want to hearings speaks directly to the value of this long history of engagement with
have an impact.” She promises: “I am laser diversity and inclusion.” HBCUs is a priority. Many of today’s



24 | DIVERSITY

PROMOTION





Celebrating 100 Seasons By Creating A


More Diverse And Inclusive Future






As the NFL celebrates its 100th season, it is equally
important to recognize the diverse leadership and

LQLWLDWLYHV WKDW KDYH LPSDFWHG WKH JDPH ERWK RQ WKH ŻHOG
and in the front office. To be a leader in best business
practices, the NFL understands that diversity is an

LPSRUWDQW IDFWRU DQG LW PXVW EH UHżHFWHG WKURXJKRXW WKH
entire organization, not in just one aspect of it.
The NFL continues to seek full diversity throughout its

FRDFKLQJ UDQNV H[HFXWLYH UDQNV DQG WKH OHDJXH RIŻFH
To achieve this, it is vital to implement collective and
innovative solutions that foster an inclusive environment. TROY VINCENT DAWN APONTE
Executive Vice President Chief Football
Those responsible for the game within football
of Football Operations $GPLQLVWUDWLYH 2IŻFHU

operations exemplify our diversity. This group, led by
executive vice president of football operations Troy
Vincent, includes: David Gardi, SVP of game operations
and compliance; Al Riveron, SVP of officiation; Dawn
Aponte, chief football administrative officer; Arthur
McAfee, SVP of player engagement; Tracy Perlman, SVP
of football communications and marketing; and Natara
Holloway, VP of football strategy and business operations.
Along with the entire NFL staff, these individuals
work tirelessly to formalize partnerships with historically
black colleges and universities, the American Football
Coaches Association and the National Collegiate Athletic ALBERTO RIVERON DAVID GARDI

Association and to create programs that foster a diverse 693 2IŻFLDWLQJ SVP Game Operations
and Compliance
talent pipeline.
Key initiatives where the NFL champions diverse hiring
practices are the Rooney Rule and the HBCU Careers in
Football Forum. These opportunities are ever-evolving in
order to maximize impact. Last year, the NFL implemented
new guidelines for the Rooney Rule that continues to open
the door of opportunity for hiring head coaches and
football operation executives. While the HBCU Careers in
Football Forum, which takes place in conjunction with the
Celebration Bowl, focuses on informing and giving HBCU
students access to opportunities that can jump-start their
careers in professional sports. ARTHUR MCAFEE TRACY PERLMAN
SVP Player Engagement SVP Football Communications
In addition, the Football Operations team oversees the
and Marketing
Bill Walsh Diversity Coaching Fellowship and the Nunn-
Wooten Scouting Fellowship. The Bill Walsh Diversity
Coaching Fellowship is designed to increase the number
of full-time NFL minority coaches by providing them
with access, resources and experience. Whereas the
Nun-Wooten Scouting Fellowship exposes interested
former players to a career in professional scouting. Both
programs recognize the value that diversity brings to the
success of the game.
As the NFL celebrates 100 seasons, we remain
committed to creating opportunities that foster a diverse
NATARA HOLLOWAY
and inclusive environment. VP Football Strategy
and Business Operations



The National Football League Is A Proud Supporter Of The Executive Leadership Council And Its Goals, Leading With Purpose.
| 25

PROMOTION





members are active donors and also SUHVLGHQW DQG FKLHI RSHUDWLQJ RIŻFHU ZKR Philanthropic Advisory Committee, relays
serve on HBCU boards and advisory had a long career in both corporate and these statistics: “As of 2016, at all levels
committees. Names of ELC members public service before joining The ELC, of HBCU degree-granting institutions,
who are interested in serving as HBCU has been overwhelmed with the mem- virtually two-thirds of associate, bache-
trustees are shared with HBCU presi- bership’s potential for contributing to the lor, master and doctorate degrees were
dents as well as CBC members. greater good. “I’ve been here less than a awarded to female students.”
year, and I’ve met black leaders in posi- Leatherberry warns, “If we don’t start
PHILANTHROPY WITH tions of great authority and power. When correcting that imbalance now, in 30
COMMUNITY AT THE CENTER I tell teenagers that the CEO of Carnival years we’ll be facing the same set of
After 33 years of a largely inward-facing Corporation is black, they are astonished. challenges. This is not something that
focus—developing black leadership for I want all young people to know these can change overnight.”
corporate America—The ELC is continu- people exist. It gives them inspiration to “HBCUs still overproduce black doc-
ing its shift to a more outward-facing keep going, to know you can actually tors, lawyers, engineers and Ph.D.s as a
focus: to be a more effective voice on accomplish incredible success.” percentage of their student body,” says
longer-term issues facing the black Leatherberry believes deeply in the Granger, “so they are the appropriate
community. “We members are making promise of this philanthropy pivot: “As focus for the Chair’s Initiative. We know
changes in the companies where we leaders, we have great impact when we which HBCUs have marketing, business
lead,” says Ashby, “but we live in a sphere act collectively and with intention.” or science programs, which ones are
that is much broader than the corporate, The first focus in what Leatherberry open to partnerships. Now it’s just about
entrepreneurial or thought leader space. predicts will be “an umbrella of philan- aligning the resources.”
We are not just experts at our jobs; we thropic programs and activities” is her A second philanthropic path already
are experts at being black there, about Chair’s Initiative to increase the number underway is addressing the persis-
being black in America. We have to of black men with college degrees and tent and growing wealth gap between
share that with our community.” to see them pursuing viable careers. Wil- blacks and whites in America, the focus
Kelly Veney Darnell, ELC executive vice lie Deese, chair of The ELC Board’s new of the Black Economic Forum (BEF),






AIG’s Commitment to


Diversity & Inclusion




The diversity of our workforce is one world. The ERGs represent areas
of AIG’s greatest assets and brings of focus that matter to our employ-
us great pride. ees and our clients, such as gender
Our colleagues show us how to equality and identity, sexual orienta-
better understand our clients, tion, race, ethnicity, diverse abilities,
incre ase innova t ion and generational differences and military
reduce risk. That’s why, as experience.
part of our journey to build In 2019, AIG was recognized for
the AIG of the future, we the second consecutive year as
are focused on foster- one of DiversityInc’s Top 50 Com-
ing a culture of inclusion panies for Diversity, thanks to our
that is designed to attract, commitment to talent pipeline and
d e v e l o p a n d r e t a i n development, leadership account-
diverse talent. ability and supplier diversity.
AIG has built a coordi- AIG’s Executive Leadership Team
nated portfolio of Human and Board make diversity and inclu-
Capital initiatives in our sion a priority and receive regular
goal to be the most-valued briefings on our progress. Increasing
insurer for our stakehold- diversity remains an important part
ers. Our Diversity & Inclusion of the company’s fabric and culture.
programs include the active We will continue to come up with new
participation of more than 10,000 ways to ensure a diverse workforce
members of more than 130 Employee and a welcoming environment for all.
Resource Groups (ERGs) around the



26 | DIVERSITY

"Creating a diverse and inclusive




industry is the right thing to do.




It’s always been the right thing to do."




 BRIAN DUPERREAULT, PRESIDENT AND CHIEF EXECUTIVE OFFICER, AIG












AIG is a proud partner and ally of The Executive Leadership Council.






#AIGALLIES #LIFEATAIG









Insurance, products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Insurance and services may not
be available in all jurisdictions, and coverage is subject to actual policy language. For additional information, please visit our website at www.AIG.com.

PROMOTION





a partnership between The ELC and CEO of Ariel Investments, LLC, the largest narrowing the racial wealth gap could
Sigma Pi Phi Fraternity (Beta Iota Boulé), minority-run mutual fund in the country. increase the country’s per capita gross
a national organization that sponsors The BEF dove into data from an domestic product (GDP) by 4-6%. With
social action and public policy initiatives. August 2019 report, The Economic the U.S. GDP growing at approximately
The second BEF took place in Martha’s Impact of the Racial Wealth Gap, pre- <3%, the money being left on the table
Vineyard in August, bringing together pared by McKinsey & Company in LV VLJQLŻFDQW
black corporate leaders and black lead- partnership with The ELC and the Boulé,
ers in finance, “looking at the problem which documents the tenfold gap STRATEGIC PARTNERSHIPS
through a common set of lenses, pulling between the wealth of white Americans Partnerships with other organizations
together our collective talent to deter- and black Americans. The new and advocating for the rights of underrepre-
mine how we can make impact at scale,” important twist revealed is that blacks sented groups increase the effectiveness
says Leatherberry. The keynote speaker are not the only losers as a result. With of all. The ELC therefore connects with
was John Rogers Jr., founder, chair and hard data, the report estimates that other philanthropic organizations
aligned with its mission.
In 2004, The ELC became a founding
partner of the Alliance for Board Diver-
sity WKH ŻYH WLPH SXEOLVKHU RI WKH Missing

1DUURZLQJ WKH UDFLDO ZHDOWK JDS FRXOG Pieces report. The report underlies all ABD
partner efforts, individually and together, to
increase the country’s per capita gross advocate for greater diversity on boards
of the top 500 U.S. corporations.
domestic product (GDP) by 4-6%. June 2017 marked the launch of the
CEO Action for Diversity & Inclusion®,
led by a steering committee of The ELC
and CEOs and leaders from Accenture,










Bank of America: Committed To Diversity And Inclusion







Bank of America’s commitment to creating an 2018 to advance economic mobility and social justice
inclusive experience for employees starts at the issues in black communities. We also spend over
top with CEO Brian Moynihan, who has chaired $2 billion every year working with diverse suppliers.
the Global Diversity & Inclusion Council (GDIC) for
We offer a number of opportunities for teammates
10 years. The GDIC is focused on growing the diverse
to share their diverse backgrounds and interests.
representation of our workforce and promoting an
Our Black Executive Leadership Council includes
inclusive workplace where all employees have the
nearly 200 senior Black/African American leaders
opportunity to achieve their goals.
who focus on recruiting and advancing diverse talent,
At all levels of the company, we work to attract, engaging our communities and influencing business
retain and develop diverse talent. More than strategies to help drive responsible growth. They
45% of our U.S.-based workforce are people of work closely with the 14,000 members of our
color, and more than 50% of our global workforce Black Professional Group to help create visibility
are women. Our senior leadership is similarly diverse. for black talent at Bank of America through coaching,
Women and/or people of color make up more than mentoring and networking. “We leverage differences to drive collaborative and
45% of our Board of Directors and more than 50% innovative work environments in which all employees
We value the many partnerships we have with diverse
of our management team. feel like they matter and are delivering for the
organizations and are proud to be recognized as one of
clients and community we serve.”
Our commitment proudly extends to our local the 50 Best Companies for Diversity for 2018
communities, where we invested over $28 million in by Black Enterprise. Cynthia Bowman
Chief Diversity and Inclusion Officer
Bank of America








28 | DIVERSITY

the power to


pave the way















Thank you to the Executive Leadership Council for developing past, present and future black leaders.

At Bank of America, we’re committed to global diversity, with nearly half of our

U.S.-based workforce being racially or ethnically diverse. We proudly recognize our executive
leaders who are ELC members and who help drive the success of our company.
















D. Steve Boland Tiffany Eubanks-Saunders Patrick Carey Cynthia Bowman Ather Williams III Richard Nichols
Managing Director, Market Executive, Senior Vice President, Chief Diversity and Managing Director, Managing Director,
Head of Consumer Lending Bank of America National Fulfillment Inclusion Officer Head of Business Banking Bank of America
Private Bank Executive Private Bank


Visit bankofamerica.com/inclusion to learn more.



























































© 2019 Bank of America Corporation | ARH44WPT | AD-08-19-0041.A

Pharmaceutical executive Phyllis Anderson leads group session during The ELC’s Leadership Development Week




Boston Consulting Group, Deloitte US,
EY, General Atlantic, KPMG, New York
Life, P&G and PwC. Tim Ryan, chair of
the Steering Committee and U.S. chair
and senior partner at PwC, is the face
of CEO Action, which has earned the We are uniquely positioned to study the
commitment of 700 CEOs from the top
H[SHULHQFHV RI EODFN PHQ DQG ZRPHQ LQ
companies in the world.
The annual Senior Multicultural Leaders
businesses of all kinds and at all levels.
Conference®, led by Carla Harris, former
ELC Board chair and vice chair of wealth
management and senior client advisor With facts and data, our experiences
at Morgan Stanley, is hosted by Morgan
Stanley, AARP, Target and Deloitte in col- ZRQŖW EH GLVPLVVHG DV DQHFGRWDO DQG RXU
laboration with the ABD. The conference advocacy becomes actionable.
provides perspectives from leaders in the

FRUSRUDWH HGXFDWLRQ QRQSURŻW DQG JRY
ernment arenas relevant to executing in a
competitive global environment.
data and thought leadership discussions experiences of black men and women
THE INSTITUTE FOR about global black executives, the busi- in businesses of all kinds and at all lev-
LEADERSHIP DEVELOPMENT ness case for diversity and inclusion and els. With facts and data, our experiences
AND RESEARCH other related topics. won’t be dismissed as anecdotal and
In addition to presenting The ELC’s In the coming year, says Christopher our advocacy becomes actionable.”
extensive live leadership develop- Butts, Ed.D., The ELC Institute’s new With a new professional team in place,
ment programs, the Institute produces vice president and chief learning offi- the Institute will not only build on the
an expansive digital learning platform cer, “we’re going to kick the programs Korn Ferry research on black CEO-cali-
that offers lessons, topics, seminar and up a notch and add value to both the ber corporate leaders and the McKinsey
keynote addresses by ELC members, face-to-face programming, the virtual research on the racial wealth gap; it will
respected consultants, thought leaders programming and the research.” also conduct its own research through
and academics, available to subscribers. Through the Institute, says Brown, “We ELC members on their success strate-
Subscribers can also access research, are uniquely positioned to study the gies and the impact of U.S. and global



30 | DIVERSITY

PROMOTION





trends and events. A proposed book of voice beyond the corporate world, to
case studies from various academics reach the needs of our broad black
would be used in Institute programs and business community.”
would also be available for use in col- For over three decades, The ELC
leges and business schools. has advocated for more blacks on
“Our vision,” says Butts, “is to be the boards and in the C-suite, including
source for information about blacks in WKH &(2 RIŻFH DQG GHVLJQHG UHŻQHG


business in America. Soon, everyone and presented unique leadership
looking for that will know to come to The development programs and products
ELC’s Institute.” for its members as well as younger
blacks who aspire to the most senior
corporate positions. The ELC is now
CEO Spriggs is leading with purpose. “At leading with a broader purpose, with
our Gala last week, we celebrated literally depth and breadth; embracing black
two ends of our corporate spectrum. We entrepreneurs and thought leaders,
had our inaugural CEO GameChanger stars in the new business landscape;
Conference, where we really went deep and tackling institutional barriers that
on actionable items CEOs can take to defy the stability and wealth aspira-
bring change to their senior leadership tions of so many black Americans.
and boards, and our Mid-Level Managers’
Symposium, which is the highlight of many
of those young professionals’ careers.” New opportunities for black leadership
About the pivot to the new, Spriggs adds, abound. Join The ELC on its North Star
At the Martha’s Vineyard 2019 Black Economic
“We announced The ELC’s comprehen- journey. Visit www.elcinfo.com.
Forum: ELC Board Chair Tonie Leatherberry, Rep.
sive strategy to use our powerful collective Joyce Beatty (D-OH), ELC CEO Skip Spriggs













“Get results.




Seek mentors.



Be courageous.”






At Cargill, every person matters and can make a difference.

Our inclusive and diverse work culture encourages you to
be you while making a real impact on our global success.

When everyone is valued for their unique perspectives,
we’re able to nourish the world in a safe, responsible and

sustainable way. Discover how a career at Cargill can help

you achieve your higher purpose.
Sonya McCullum Roberts

President and Group Leader, Cargill Salt Group

Sonya shares three key elements that allowed cargill.com/careers
her to succeed.

THE RICHEST PEOPLE IN AMERICA THE LIST












118 4












O






























F O R B E S . C O MO



T H E



F O R B E S










AMERICA’S RICHEST HAVE BEEN
TREADING WATER FOR THE PAST 12
MONTHS. THE AVERAGE FORTUNE OF
THE LIST MEMBERS IS UP JUST 2.2% TO
$7.4 BILLION, AND THE $2.1 BILLION
ENTRY POINT IS UNCHANGED. STILL,
MOST HAVE COME A LONG WAY. THIS
YEAR WE ARE HIGHLIGHTING THEIR
PROFESSIONAL BEGINNINGS, FROM
STOCKING SHELVES TO STARTING A SKI
TUNING BUSINESS IN A BASEMENT AND
EVERYTHING IN BETWEEN.








O C T O B E R 3 1 , 2 0 1 9

1. JEFF BEZOS 119 119

$114 BILLION T
SELF-MADE SCORE: *
SOURCE: AMAZON
AGE: 55 RESIDENCE: SEATTLE
PHILANTHROPY SCORE:
In the costliest divorce ever,
Bezos transferred a quarter of
his Amazon shares, now worth
$36.1 billion, to MacKenzie, his
wife of 25 years, earlier this
year (though he kept the voting
rights of those shares). Bezos
also sold $2.8 billion worth of
Amazon stock. He still has a
nearly 12% stake in the $230
billion (2018 sales) e-com-
merce behemoth and remains
the world’s richest person de-
spite a $46 billion drop in the
past year. Bezos, who at age 16
spent a summer as a cook at a
McDonald’s, where he learned
to crack an egg with one hand,
raised the minimum wage for
350,000 U.S.-based Amazon
full-time, part-time, tempo-
rary and seasonal employees
last November to $15 an hour.
In 2018 his philanthropic vehi-
cle, Bezos Day One Fund, do-
nated $97.5 million to 24 or-
ganizations helping homeless
families. In September, Bezos
announced that his company
would spend $100 million on
reforestation projects around
the world, weeks after wildfires
in the Amazon rainforest made
headlines. He also said Ama-
zon would purchase 100,000
electric delivery vehicles.

























PHOTOGRAPH BY MICHAEL PRINCE

age 10, then used his early sav-
ings of $114.75 to buy three
shares of Cities Service pre-
ferred stock. This past April,
his Omaha-based firm agreed
to spend $10 billion buying
shares in Occidental Petroleum
if it completed its acquisition
of energy firm Anadarko Petro-
leum Corp.; the two companies
merged in August.
120
4. MARK ZUCKERBERG
5. LARRY ELLISON
0 $69.6 BILLION S
1
SELF-MADE SCORE: * $65 BILLION S SELF-MADE SCORE: (
P
O SOURCE: FACEBOOK SOURCE: ORACLE
T AGE: 35 RESIDENCE: PALO ALTO, CA AGE: 75 RESIDENCE: WOODSIDE, CA


PHILANTHROPY SCORE: PHILANTHROPY SCORE:

T Facebook was fined $5 billion The Oracle chairman and chief
S
I in July by the Federal Trade technology officer lost a top
L
Commission for violating con- lieutenant in September when
E
H sumers’ privacy. While the co-CEO Mark Hurd took an in-
T penalty was the largest in the definite leave of absence, citing
FTC’s history, it didn’t dent the health reasons. Co-CEO Safra
$55.8 billion (2018 sales) so- Catz, a 20-year company veter-
cial network, whose stock is an, is now alone atop Oracle,
up 15% in the past year, or the whose revenues grew less than
fortune of its CEO, who is $8.6 1% in the past fiscal year as it
billion richer than a year ago. faced strong competition. In
Concerns linger that Facebook August, Ellison reportedly res-
has become too powerful and cued his daughter Megan’s film
2. BILL GATES has control of too much data. and TV production company,
His cofounder Chris Hughes, Annapurna Pictures (Zero Dark
$106 BILLION S SELF-MADE SCORE: * who left the company years Thirty, Vice), from the brink
SOURCE: MICROSOFT ago, wrote an opinion piece of bankruptcy. His son David’s
AGE: 64 RESIDENCE: MEDINA, WA
for the New York Times in May Skydance Media is behind the
PHILANTHROPY SCORE: calling for Facebook to be bro- upcoming Top Gun: Maver-
Gates responded to the public ken up. Zuckerberg started ick. Ellison joined Tesla’s board
backlash against billionaires the business at age 19 while in December and revealed he
by reiterating his support for attending Harvard; he later owned $950 million in shares.
a higher estate tax. In the dropped out. Earlier this year, The stock has since dropped by
Bill & Melinda Gates Foun- he reportedly paid $59 million 28%. Ellison, who worked sum-
dation’s annual Goalkeepers for a sprawling estate in Lake mers as a lifeguard, founded
Report, published in Sep- Tahoe, about a four-hour drive Oracle in 1977; he gave up the
tember, he and Melinda are from Facebook headquarters. CEO job five years ago.
up-front about being born to
“white, well-off parents” who
sent them to excellent schools,
while noting that hardship is
the rule for hundreds of mil-
lions of other people. Their
foundation, they say, is work-
ing to create equal opportu-
nities for people around the 3. WARREN BUFFETT
globe. He is the subject of a
three-part Net flix documenta- $80.8 BILLION T SELF-MADE SCORE: * ELAINE THOMPSON/AP; NATI HARNIK/AP; CHRIS PIZZELLO/INVISION/AP; CHRISTOPHE MORIN/BLOOMBERG
ry, Inside Bill’s Brain: Decod- SOURCE: BERKSHIRE HATHAWAY
ing Bill Gates, that first aired AGE: 89 RESIDENCE: OMAHA
in September. At 16 Gates PHILANTHROPY SCORE:
spent a year working on a The legendary investor con-
computer programming proj- tinues to run conglomerate
ect for the Bonneville Power Berkshire Hathaway, which
Administration, which con- owns stakes in everything
trolled Washington State’s from Apple to Delta Air Lines
electric grid. He and his high to JPMorgan Chase. He start-
school classmate Paul Allen ed his first business at age 7,
(d. 2018) soon had plans to de- selling chewing gum and Co-
velop software for the grow- ca-Colas door-to-door on hot
ing personal computer mar- evenings. Buffett went on to
ket. Gates left Harvard in 1975 work at his grandfather’s gro-
to pursue that idea. cery store, Buffett & Son, at


O C T O B E R 3 1 , 2 0 1 9
F O R B E S . C O M
WEALTH INHERITED VS. SELF-MADE CHANGE IN WEALTH KEY: S UP T DOWN SIGNATORY OF THE PHILANTHROPY SCORE
! @ # $ % ^ & * ( ) WX UNCHANGED Ì NEW TO LIST 3 RETURNEE GIVING PLEDGE

paign to tackle climate change
ever undertaken in the Unit-
ed States.” Long before he was
developing geopolitical policy,
Bloomberg got his start work-
ing at an electronics compa-
ny in Cambridge, Massachu-
setts, during high school. His
first foray into finance was un-
glamorous: After earning his
M.B.A. from Harvard, he got a
job in “The Cage” at Salomon 121
Brothers, where he counted
out securities by hand. “We
[toiled] in our underwear . . . T
in an unair-conditioned bank E
H
vault, with an occasional six-
L
pack of beer to make it more I
6. LARRY PAGE bearable,” he wrote in his au- early glimpse of such inequi- T
S

tobiography. He worked his ties: His first job was as a golf

$55.5 BILLION S way up to general partner be- caddie at Franklin Hills Coun-
T
SELF-MADE SCORE: * fore getting fired in 1981. try Club in Michigan. The Har- O
SOURCE: GOOGLE Bloomberg then cofounded a vard classmate of Gates and P

AGE: 46 RESIDENCE: PALO ALTO, CA former long-term CEO of Mi- 1
firm of his own, which turned 0
PHILANTHROPY SCORE: into financial information and crosoft retired in 2014 and
In a year when Alphabet dealt media giant Bloomberg LP. bought the NBA’s L.A. Clippers
with employee protests, secu- for $2 billion that same year.
rity bugs and fines from the 9. STEVE BALLMER
European Union and the FTC,
DAVID PAUL MORRIS/BLOOMBERG; PETER BARRERAS/INVISION/AP; MATT ROURKE/AP; PATRICK T. FALLON/BLOOMBERG; RICK T. WILKING/GETTY IMAGES
CEO Page was called out for $51.7 BILLION S
avoiding public appearances. SELF-MADE SCORE: ^
In September 2018 he declined SOURCE: MICROSOFT
to show up at a Senate intelli- lated to Parkinson’s research, AGE: 63
gence committee hearing; in social justice and immigrant RESIDENCE: HUNTS POINT, WA
June he skipped Alphabet’s an- rights. PHILANTHROPY SCORE:
nual shareholders’ meeting. Ballmer Group, which he and
Outside the company, he’s re- 8. MICHAEL BLOOMBERG his wife, Connie, set up in
portedly funding two “flying 2014 to improve economic mo-
car” startups, Kitty Hawk and $53.4 BILLION S bility in the U.S., is teaming
Opener. Named after his late SELF-MADE SCORE: * with Mike Bloomberg’s and
father, his Carl Victor Page SOURCE: BLOOMBERG LP Bill Gates’ foundations to pilot
AGE: 77 RESIDENCE: NEW YORK CITY
Memorial Foundation, which community programs in ten
last reported $2 billion in as- PHILANTHROPY SCORE: cities that will address income
sets, funded flu vaccines for The former New York City inequality. The groups an-
students. mayor announced in March nounced in June that they are
that he would not run for investing $12 million in such
7. SERGEY BRIN president in 2020, instead cities as Newark, New Jersey,
launching Beyond Carbon, and Detroit over 18 months.
$53.5 BILLION S “the largest coordinated cam- Ballmer may have gotten an 10. JIM WALTON
SELF-MADE SCORE: (
SOURCE: GOOGLE
$51.6 BILLION S SELF-MADE SCORE: @
AGE: 46 RESIDENCE: LOS ALTOS, CA
SOURCE: WALMART
PHILANTHROPY SCORE: AGE: 71 RESIDENCE: BENTONVILLE, AR
Amid Google’s difficult year, Al- PHILANTHROPY SCORE:
phabet president Brin—like his Despite giving away $1.2 bil-
Google cofounder Page—has lion in Walmart stock this sum-
stayed out of public view and mer in the largest donation he
reportedly even stopped regu- has ever publicly made, Jim re-
larly attending the weekly in- mains the richest member of
ternal “TGIF” staff meetings, the Walton family. That’s main-
where he used to be a main- ly due to his estimated 44%
stay. He focuses much of his stake in Arvest Bank, where he
time on the Alphabet subsid- was the longtime CEO. The Fay-
iaries he’s most interested in, etteville, Arkansas-based bank
like “moonshot” research lab has over 275 branches in four
X, and is reportedly funding a states with assets of more than
high-tech airship. Most of the $19 billion. The youngest son
giving from his family founda- of Walmart founder Sam Wal-
tion, which last disclosed near- ton, Jim sat on Walmart’s board
ly $1.4 billion in assets, goes for over a decade before yield-
to donor-advised funds, but he ing his seat to his son, Steuart,
has also made donations re- in 2016.


O C T O B E R 3 1 , 2 0 1 9 F O R B E S . C O M

11. ALICE WALTON Walmart after college as a buyer 13. JULIA KOCH & FAMILY can politicians’ coffers ahead of
of children’s clothes.
the 2020 election. Adelson and
$51.4 BILLION S SELF-MADE SCORE: ! $41 BILLION Ì SELF-MADE SCORE: ! his wife, Miriam, donated over
SOURCE: WALMART 13. CHARLES KOCH SOURCE: KOCH INDUSTRIES $200,000 to the National Repub-
AGE: 70 RESIDENCE: FORT WORTH, TX AGE: 57 RESIDENCE: NEW YORK CITY lican Senatorial Committee in
PHILANTHROPY SCORE: $41 BILLION T SELF-MADE SCORE: % PHILANTHROPY SCORE: July alone. Adelson, who at age
SOURCE: KOCH INDUSTRIES Koch and her three children in- 12 borrowed $200 from his uncle
12. ROB WALTON AGE: 83 RESIDENCE: WICHITA, KS herited a 42% stake in Koch In- to buy the rights to sell newspa-
PHILANTHROPY SCORE: dustries from her husband, David, pers on a Boston street corner,
$51.3 BILLION S SELF-MADE SCORE: $ Koch is in his 52nd year of run- who died in August at age 79. An made a fortune selling comput-
SOURCE: WALMART ning $110 billion (revenues) in- Iowa native who graduated from er-trade-show company Comdex
122 AGE: 75 RESIDENCE: BENTONVILLE, AR to Softbank in 1995. He bought
dustrial conglomerate Koch the University of Central Arkan-
PHILANTHROPY SCORE: Industries, which in August in- sas, she moved to New York in the casino operator Las Vegas Sands
Four weeks after a mass shoot- vested in Ibotta, a mobile pay- 1980s and worked as an assistant in 1989 and is still CEO and ma-
T jority owner. He’s battling non-
S ing at a Walmart store in El ment and coupon app. Koch was to designer Adolfo. In 1991, friends
I Hodgkin’s lymphoma.
L Paso, Texas, left 22 dead, the trained as an engineer at MIT but set up Julia and David on a blind

E nation’s biggest retailer said it worked as a consultant before re- date, which did not go well. They
H would limit ammunition sales, turning home to Wichita in 1961 ran into each other again six 18. MICHAEL DELL
T
end handgun sales in Alas- to join the family business. A po- months later and dated for five
ka and discourage customers litical heavyweight, last Decem- years before marrying in 1996. $32.3 BILLION S
from openly carrying guns in its ber he helped push for passage of SELF-MADE SCORE: *
SOURCE: DELL COMPUTERS
4,700 U.S. stores, even in states the First Step Act, a criminal jus- 15. MACKENZIE BEZOS AGE: 54 RESIDENCE: AUSTIN, TX
where it’s legal to do so. Rob tice reform bill. The act allows
PHILANTHROPY SCORE:
ran Walmart for nearly 25 years; some federal prisoners to be re- $36.1 BILLION Ì SELF-MADE SCORE: #
he stepped down as chair- leased early and improves reentry SOURCE: AMAZON Dell again proved his financial
man in 2015 but still sits on the readiness among the imprisoned AGE: 49 RESIDENCE: SEATTLE engineering wizardry in Decem-
board. Alice briefly worked for population. PHILANTHROPY SCORE: N.A. ber, when he took public his
namesake hardware and storage
Weeks before her divorce from Jeff
giant. The deal raised the hack-
• B E G I N N I N G S • Bezos was finalized, she signed les of Carl Icahn (No. 30), who
the Giving Pledge, promising to said the offering served as an
give more than half of her wealth
“economic windfall mostly at-
to charity. (Jeff has not signed the
tributable to Michael Dell” and
pledge.) Bezos, a novelist who says his partners. The company had
she wrote her first book when she gone private in 2013 following
was 6 (a 142-pager called The Book
a nasty battle with, yes, Icahn.
Worm), has worked as a dishwash-
Dell founded the business out
er, waitress, deli cashier, library of his University of Texas dorm
monitor and a research assistant
room in 1984.
to novelist Toni Morrison.
16. PHIL KNIGHT & FAMILY 19. JACQUELINE MARS
$29.7 BILLION S
$35.9 BILLION S SELF-MADE SCORE: @
SELF-MADE SCORE: *
SOURCE: CANDY, PET FOOD
SOURCE: NIKE
AGE: 80 RESIDENCE: THE PLAINS, VA
AGE: 81 RESIDENCE: HILLSBORO, OR
PHILANTHROPY SCORE:
PHILANTHROPY SCORE:
Knight is the founder of Nike, 19. JOHN MARS
which featured former NFL quar-
terback Colin Kaepernick in a con- $29.7 BILLION S
troversial 2018 ad campaign. “It SELF-MADE SCORE: @
SOURCE: CANDY, PET FOOD
doesn’t matter how many people
AGE: 84 RESIDENCE: JACKSON, WY
hate your brand as long as enough
24. RUPERT MURDOCH & FAMILY people love it,” he said in Febru- PHILANTHROPY SCORE:
ary. “You have to take a stand on The siblings’ candy compa-
$19.1 BILLION S SELF-MADE SCORE: % something.” Knight has said that ny has been innovating. This
SOURCE: NEWSPAPERS, TV NETWORK his decision to feature Kaepernick spring Mars launched its Seeds
AGE: 88 RESIDENCE: NEW YORK CITY was shaped by a conversation he of Change accelerator, provid-
PHILANTHROPY SCORE: had with LeBron James, who wor- ing $50,000 grants to food-fo-
The Australian-born media mogul, pictured in 1960 around ried that his son, who is black, cused startups. In September,
the time he took over the Sydney tabloid the Daily Mirror, would get shot by a policeman. it acquired a majority stake
in Berlin-based protein and
capped his six-decade career in March with one of the biggest
ever media deals. He sold nearly all of 21st Century Fox’s assets— 17. SHELDON ADELSON snack company Foodspring.
including its movie studio, two television networks and stakes in The brother-and-sister duo each
Hulu and Star India—to Disney for $71.3 billion. He kept conser- $34.5 BILLION T own an estimated one third of KEYSTONE-HULTON ARCHIVE-GETTY IMAGES
SELF-MADE SCORE: ) the $35 billion (est. sales) com-
vative media outlet Fox News and the Fox broadcast stations, giv-
SOURCE: CASINOS pany, which was founded by
ing his son Lachlan control of the remaining assets. He’s been in
AGE: 86 RESIDENCE: LAS VEGAS
the media business since his 20s, when he inherited a newspaper their grandfather. While both
PHILANTHROPY SCORE: have retired from the board,
after the death of his father, a former war correspondent. His ca-
reer served as the basis for the Broadway play Ink and partially The casino mogul and Trump Jacqueline’s son is chairman of
inspired the HBO series Succession. supporter is flooding Republi- the board.

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• B E G I N N I N G S •
21. JIM SIMONS caddie at age 11. He launched Sam Zell (No. 119), who went
Bridgewater in 1975 from his on to become a repeat client at
$21.6 BILLION S SELF-MADE SCORE: * New York City apartment. Blackstone.
SOURCE: HEDGE FUNDS
AGE: 81 RESIDENCE: EAST SETAUKET, NY
27. LEN BLAVATNIK 30. CARL ICAHN
PHILANTHROPY SCORE:
The wealthiest hedge fund man- $18.3 BILLION S SELF-MADE SCORE: ( $17.6 BILLION S SELF-MADE SCORE: (
ager on the planet is the found- SOURCE: DIVERSIFIED SOURCE: INVESTMENTS
er of Renaissance Technologies, AGE: 62 RESIDENCE: LONDON AGE: 83 RESIDENCE: NEW YORK CITY
an esteemed quantitative trad- PHILANTHROPY SCORE: PHILANTHROPY SCORE:
ing firm that manages $68 billion. In November 2018 the Soviet- At 83, Icahn is still throwing his
124 A big chunk of that belongs to Si- born, U.S.-educated billionaire weight around markets. He has
mons and other Renaissance in- pledged $200 million through been fighting Occidental Petro-
siders. A code breaker for the U.S. his foundation to Harvard Med- leum’s $55 billion (including
T
S during the Vietnam War and a for- ical School, the school’s largest debt) acquisition of Andarko Pe-
I
L mer math teacher, Simons found- gift ever. It follows multimillion- troleum, which went through
ed Renaissance in 1982 and retired
E dollar gifts to Oxford, U Penn, in August. Icahn calls the deal
H in 2010, but remains involved as Columbia and Stanford. Blavat- “misguided and hugely over-
T
chairman. nik and partners bought former priced.” His main investing ve-
34. ABIGAIL JOHNSON Soviet state-owned oil compa- hicle is publicly traded Icahn
22. LAURENE POWELL JOBS $14 BILLION T ny TNK and sold it to Rosneft in Enterprises. His first job was
& FAMILY SELF-MADE SCORE: # 2013. He acquired Warner Music working as a beach boy at a club
on Long Island. Icahn, then 16,
Group in 2011 and engineered
SOURCE: MONEY MANAGEMENT
AGE: 57 RESIDENCE: MILTON, MA the creation of multinational made extra money playing poker
$21.3 BILLION S SELF-MADE SCORE: @ chemical company LyondellBa- with some of the members. The
SOURCE: APPLE, DISNEY PHILANTHROPY SCORE:
sell in 2007. longtime New Yorker is planning
AGE: 55 RESIDENCE: PALO ALTO, CA Johnson started out as a sum-
on moving his business to Flori-
PHILANTHROPY SCORE: mer intern at Fidelity, her fam- da, where taxes are lower.
Steve Jobs’ widow founded Em- ily’s mutual fund giant. She 28. LUKAS WALTON
erson Collective, a hybrid philan- joined the firm as an equity $18.1 BILLION S SELF-MADE SCORE: ! 31. THOMAS PETERFFY
thropic and investing limited lia- analyst in 1988. She took over SOURCE: WALMART
bility company, in 2016 to tackle as CEO in 2014 from her father AGE: 33 RESIDENCE: JACKSON, WY $17.5 BILLION T SELF-MADE SCORE: )
issues including securing human Edward “Ned” Johnson III (No. PHILANTHROPY SCORE: SOURCE: DISCOUNT BROKERAGE
rights for immigrants and improv- 79) and has moved the firm AGE: 75 RESIDENCE: PALM BEACH, FL
ing U.S. schools. Emerson Collec- into low-cost index funds and He inherited a stake in Walmart PHILANTHROPY SCORE: N.A.
tive owns stakes in media (Pop- socially responsible funds. She when his father, John, son of
Up Magazine, Axios, OzyMedia), owns an estimated one fourth founder Sam Walton, died in a The father of digital trading
sports (the NBA’s Washington Wiz- of Fidelity, the second-largest plane crash in 2005. He stud- stepped down in September
ards and NHL’s Washington Capi- mutual fund company (behind ied environmentally sustainable as CEO of Interactive Brokers,
tals) and tech startups. Vanguard), with $2.7 trillion in business at Colorado College which he founded in 1993. He
managed assets. and now invests in eco-friendly remains chairman of the firm,
funds. He has donated at least which markets a specialized
23. ELON MUSK $149 million to the Walton Fam- trading platform to sophisticat-
ily Foundation. ed investors. His first job at age
$19.9 BILLION S SELF-MADE SCORE: * man emeritus of the cosmetics
SOURCE: TESLA MOTORS, SPACEX 8 was helping his building’s su-
giant that he ran as CEO for 17 perintendent stack and deliv-
AGE: 48 RESIDENCE: LOS ANGELES 29. STEPHEN
years got a $5.4 billion boost to his er wood to other tenants. At 12
PHILANTHROPY SCORE: fortune in the past year as shares SCHWARZMAN he illegally sold Juicy Fruit gum
Musk is working to rehab his soared along with revenues, par- to classmates in his native Hun-
image following a tumultuous ticularly in markets like China, $17.7 BILLION S SELF-MADE SCORE: * gary at more than double the
2018, much of it the result of India and Russia. SOURCE: INVESTMENTS price. He immigrated to Ameri-
his Twitter usage. Things are on AGE: 72 RESIDENCE: NEW YORK CITY ca in 1965 at age 21.
the upswing at Tesla, his electric 26. RAY DALIO PHILANTHROPY SCORE:
carmaker, which churned out The Blackstone cofounder and 32. DONALD BREN
roughly 87,000 cars in the sec- $18.7 BILLION S SELF-MADE SCORE: * CEO began working at his
ond quarter, 33,700 more than SOURCE: HEDGE FUNDS family’s store, Schwarzman’s $17 BILLION S SELF-MADE SCORE: *
the same quarter last year. Still, AGE: 70 RESIDENCE: GREENWICH, CT Curtains and Linens, at age SOURCE: REAL ESTATE
shares are down 14% from the PHILANTHROPY SCORE: 10, wrapping gifts and fold- AGE: 87 RESIDENCE: NEWPORT
heady stock price 12 months ago. ing handkerchiefs. He start- BEACH, CA
Several times this year, the
Musk taught himself to code as a ed a lawn-mowing business
founder of Bridgewater As- PHILANTHROPY SCORE:
kid and sold his first video game, sociates, the world’s biggest at 14, employing his young- The nation’s richest real estate
Blastar, for $500. hedge fund firm, with $160 bil- er twin brothers to mow while baron owns 550 office build-
lion under management, called he brought in the clients. “Our ings and 125 apartment com-
25. LEONARD LAUDER out wealth inequality as a na- business lasted three full years plexes through his Irvine Com-
tional issue and voiced con- before we had an employee pany, mostly in Orange County,
$18.8 BILLION S SELF-MADE SCORE: % cerns about the limits of capi- strike,” Schwarzman says. In California. He also owns the
SOURCE: ESTÉE LAUDER his memoir, published in Sep-
talism. In April he and his wife Metlife Building in Manhattan.
AGE: 82 RESIDENCE: NEW YORK CITY
pledged to contribute $100 mil- tember, the Philadelphia na- Bren went to college on a ski-
PHILANTHROPY SCORE: lion to Connecticut’s lowest tive revealed that the first vis- ing scholarship and spent three
The eldest son of legendary Estée performing schools; the state itor to Blackstone in 1985, the years as a U.S. Marine Corps of-
Lauder is writing his memoir, set will match the funds. Dalio’s year it was founded, was then ficer. He built his first house in
to hit shelves in 2020. The chair- first job was working as a golf little-known real estate investor 1958 with a $10,000 bank loan.


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• B E G I N N I N G S •
coming even better known 41. THOMAS FRIST JR.
thanks to a string of lavish real
estate purchases totaling some & FAMILY
$700 million. In Palm Beach he
$11.5 BILLION T SELF-MADE SCORE: &
just spent another $99 million
SOURCE: HOSPITALS
for a home on the beach next to
AGE: 81 RESIDENCE: NASHVILLE
his other property. He is the ma-
jority owner of Citadel Securi- PHILANTHROPY SCORE:
ties, one of Wall Street’s biggest The former Air Force flight sur-
market-making firms, respon- geon cofounded HCA Healthcare
sible for one of every five stock with his father in 1968. Frist is no
126 trades in the U.S. and 40% of re- longer an executive at HCA but
tail equity volume. Griffin’s first still owns a 20% stake in the com-
job was selling Franklin Mint pany, which owns and operates
T collectibles. 185 hospitals.
S
I
L
41. JOHN MENARD JR.
E 39. DAVID TEPPER
H
T
$12 BILLION S SELF-MADE SCORE: * $11.5 BILLION S SELF-MADE SCORE: (
36. PIERRE OMIDYAR SOURCE: HEDGE FUNDS SOURCE: HOME IMPROVEMENT
STORES
AGE: 62 RESIDENCE: MIAMI BEACH
AGE: 79 RESIDENCE: EAU CLAIRE, WI
$13.1 BILLION S SELF-MADE SCORE: * PHILANTHROPY SCORE:
SOURCE: EBAY, PAYPAL Tepper’s Appaloosa hedge fund PHILANTHROPY SCORE:
AGE: 52 RESIDENCE: HONOLULU Menard was still in college when
firm manages $13 billion, down
PHILANTHROPY SCORE: from a peak of $20 billion, most- he started building agricultural
Omidyar and his wife Pam’s philanthropic and impact investing arm ly because he’s been returning structures near his hometown of
Omidyar Network spun off its decade-old citizen engagement group capital to clients in recent years Eau Claire, Wisconsin. After col-
in October 2018. Renamed Luminate, it promotes democratic insti- with an eye toward one day con- lege, he turned down a job offer
tutions around the world by investing in press freedom, government verting it into a family office. at IBM to stick with his own busi-
transparency and digital rights. Since its launch it has doled out He also moved from New Jersey ness; it’s now a 300-store, $10.7
$326 million to 251 organizations in 18 countries. His fortune comes to Florida and, in a $2.3 billion billion (est. sales) home improve-
from eBay, the online auction house he founded in 1995. The compa- deal, bought the Carolina Pan- ment chain, Menards.
ny took off after he brought on Meg Whitman (No. 217) as CEO thers football team. Tepper’s first
three years later. She stayed for a decade. Omidyar is still a director job was shoveling snow in the 44. CHARLES ERGEN
at eBay, which has 182 million active buyers. cold winters of Pittsburgh, where
he grew up. $10.8 BILLION WX
SELF-MADE SCORE: *
SOURCE: SATELLITE TV
40. DUSTIN MOSKOVITZ AGE: 66 RESIDENCE: DENVER
33. ERIC SCHMIDT charges. His new firm, Point72 $11.6 BILLION S SELF-MADE SCORE: * PHILANTHROPY SCORE:
Asset Management, manages
SOURCE: FACEBOOK The pending Sprint and T-Mobile
$14.2 BILLION T SELF-MADE SCORE: ^ over $5 billion in investor funds AGE: 35 RESIDENCE: SAN FRANCISCO merger would allow Ergen to re-
SOURCE: GOOGLE plus Cohen’s personal fortune. alize his ambitions to make Dish
AGE: 64 RESIDENCE: ATHERTON, CA PHILANTHROPY SCORE: a wireless provider. If approved,
Despite being Facebook’s first chief
37. DONALD NEWHOUSE technology officer—after drop- Sprint would sell its prepaid
PHILANTHROPY SCORE:
The former Google CEO left the & FAMILY ping out of Harvard with for- phone businesses and other assets
board of parent company Al- to Dish. Ergen stepped down as
mer roommate Zuckerberg—he is
phabet in June after serving as CEO of Dish in 2017 and serves as
$12.8 BILLION S SELF-MADE SCORE: % far removed from the social net-
a director for 18 years. He is still SOURCE: MEDIA work these days. He holds an esti- chairman. He once made money
a technical advisor. He’s spend- AGE: 90 RESIDENCE: NEW YORK CITY mated 2% stake but left in 2008 to playing blackjack and worked as
ing time at the Massachusetts an analyst for Frito-Lay.
PHILANTHROPY SCORE: found Asana, a work management
Institute of Technology, where
His family’s nearly century-old Ad- software firm. A November 2018
he’s a visiting innovation fellow. round of funding valued the com- 45. DAVID DUFFIELD
He also chairs the Department vance Publications continues to di- pany at $1.5 billion.
versify, announcing in March that
of Defense’s innovation board. $10.7 BILLION S SELF-MADE SCORE: *
it would acquire plagiarism-detec- SOURCE: BUSINESS SOFTWARE
tion software company Turnitin 41. PHILIP ANSCHUTZ AGE: 79 RESIDENCE: INCLINE
35. STEVE COHEN for a reported $1.7 billion. He runs VILLAGE, NV
Advance as co-president alongside $11.5 BILLION S SELF-MADE SCORE: %
$13.6 BILLION S SELF-MADE SCORE: * SOURCE: INVESTMENTS PHILANTHROPY SCORE:
his son Steve. The bulk of his for-
SOURCE: HEDGE FUNDS AGE: 79 RESIDENCE: DENVER Duffield’s first job as a systems en-
AGE: 63 RESIDENCE: GREENWICH, CT tune is a stake in cable TV giant gineer at IBM after college made
Charter Communications. PHILANTHROPY SCORE:
PHILANTHROPY SCORE: a lasting impression. He found-
Anschutz is pumping money from
The hedge fund billionaire is 38. KEN GRIFFIN his diversified holdings into what ed three fairly successful software
having a pop culture moment he hopes will be one of the world’s companies, the first at age 28, but
of sorts: The character Bobby left all three due to bureaucracy or
$12.7 BILLION S SELF-MADE SCORE: * biggest wind farms on his Wyo-
Axelrod on Showtime’s hit show SOURCE: HEDGE FUNDS ming ranch. He grew up a cou- infighting. At his fourth, People-
Billions is reportedly based AGE: 51 RESIDENCE: CHICAGO ple states away in Kansas, where Soft, he created a corporate cul-
loosely on Cohen. He returned ture modeled after the one at IBM. RANDI LYNN BEACH-AP
PHILANTHROPY SCORE: as a 6-year-old he sold Kool-Aid on
to managing investors’ money a nearby college campus until he Oracle bought PeopleSoft in 2005.
in late 2018 after a two-year ban One of the biggest forces in fi- He then started enterprise soft-
nancial markets, Griffin is be- was chased away.
resulting from insider trading ware company Workday.


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47. JAN KOUM After working for several years at 51. JIM KENNEDY derful Company, the biggest pro-
Yahoo, he started mobile messag- ducer of almonds and pistachios
$10.1 BILLION S SELF-MADE SCORE: ) ing app Whats App in 2009 with $9.6 BILLION S SELF-MADE SCORE: $ and the owner of Halos manda-
SOURCE: WHATSAPP Brian Acton (No. 342). Facebook SOURCE: MEDIA, AUTOMOTIVE rin oranges.
AGE: 43 RESIDENCE: ATHERTON, CA acquired it in 2014 for $22 billion AGE: 71 RESIDENCE: ATLANTA
PHILANTHROPY SCORE: in cash and stock. Flush with cash PHILANTHROPY SCORE: 56. JERRY JONES
and free time after resigning as
Koum and his mother came to
CEO of WhatsApp last year, Koum 51. BLAIR PARRY-OKEDEN $8.6 BILLION S SELF-MADE SCORE: *
the U.S. from Ukraine when he
reportedly purchased a $100 mil- SOURCE: DALLAS COWBOYS
was 16, fleeing anti-Semitism.
His mother became a babysit- lion home in Malibu in August. $9.6 BILLION S SELF-MADE SCORE: ! AGE: 77 RESIDENCE: DALLAS
SOURCE: MEDIA, AUTOMOTIVE
ter; Koum swept floors at a gro- His Instagram suggests that he is PHILANTHROPY SCORE:
128 an avid collector of rare Porsches. AGE: 69 RESIDENCE: NEW SOUTH
cery store to help pay the bills. WALES, AUSTRALIA The Dallas Cowboys owner con-
tinues to bet big on oil and gas.
48. ANDREW BEAL PHILANTHROPY SCORE: In July, Jones invested $475 mil-
T • B E G I N N I N G S • Brother and sister share a 50%
S lion in publicly traded energy
I stake in Cox Enterprises, the $21
L $9.8 BILLION T SELF-MADE SCORE: * company Comstock Resources
SOURCE: BANKS, REAL ESTATE billion (revenues) media and auto-
E in exchange for 50 million new
H AGE: 66 RESIDENCE: DALLAS motive conglomerate founded by shares and $175 million worth
T
PHILANTHROPY SCORE: their grandfather in 1898. Kenne- of convertible preferred stock.
Beal started out flipping rent- dy began his career at Cox in 1972 But his most prized asset is still
al properties at age 19 while as a production assistant in the his NFL team. At $5.5 billion the
newspaper division. After working
studying business adminis- Cowboys are the world’s most
for the company in various roles
tration at Michigan State. He valuable sports team. Its 91-acre
dropped out, started two prof- he was named chairman and CEO headquarters, The Star, con-
itable banks that bear his name in 1988. He stepped down as CEO tinues to draw new tenants; in
in 2008 but continues as chair-
and prospered during the Great February beverage firm Keurig
man. Parry-Okeden has no role at
Recession, cutting back loans Dr Pepper announced plans to
while the credit bubble expand- Cox and lives in Australia. move its Texas headquarters to
ed and cashing in when it burst. the site. Jones has come a long
In 1993 he developed a com- 53. HANK & DOUG MEIJER way from his days working at his
plex mathematical problem, the parent’s grocery store, Pat’s Su-
“Beal Conjecture,” that no one $9.5 BILLION S SELF-MADE SCORE: # permarket, where he started as a
has solved, despite a cash prize SOURCE: SUPERMARKETS customer greeter at age 9.
AGES: 67,65 RESIDENCE: GRAND
that’s now $1 million.
RAPIDS, MI
56. GEORGE SOROS
49. CARL COOK PHILANTHROPY SCORE:
46. GORDON MOORE $9.7 BILLION S SELF-MADE SCORE: # The brothers own Meijer, a Mich- $8.6 BILLION S SELF-MADE SCORE: )
igan-based grocery chain with
SOURCE: HEDGE FUNDS
SOURCE: MEDICAL DEVICES stores throughout the Midwest AGE: 89 RESIDENCE: KATONAH, NY
$10.3 BILLION S
SELF-MADE SCORE: * AGE: 57 RESIDENCE: BLOOMING- and estimated sales of $17.8 bil- PHILANTHROPY SCORE:
TON, IN
SOURCE: INTEL lion. The company was started in A survivor of Nazi-occupied
AGE: 90 RESIDENCE: WOODSIDE PHILANTHROPY SCORE: N.A. 1934 by their grandfather and fa- Hungary, Soros left for London
CA ther. In September Meijer joined
Cook is the CEO of Cook Group, where he studied and worked
PHILANTHROPY SCORE: a medical device manufactur- retailers like Kroger and CVS in part-time as a railway por-
One of Silicon Valley’s most ing company with $2.4 billion asking customers not to bring ter before moving to the U.S.
pivotal business leaders, he (sales) that his parents founded firearms into stores. He became famous for betting
once said his career as an out of an apartment in Bloom- against the British pound in
entrepreneur was “by acci- ington, Indiana, in 1963. He took 54. STEWART 1992. Now the hedge fund man-
dent.” Moore was pursuing over after his father, Bill, passed & LYNDA RESNICK ager is known for his liberal
a career as a scientist when away in 2011. political leanings and outspo-
the poor management skills $9 BILLION S SELF-MADE SCORE: * ken criticism of leaders such as
of his Nobel Prize-winning 49. STANLEY KROENKE SOURCE: AGRICULTURE, WATER President Trump and Chinese
boss at Shockley Semicon- AGE: 82,76 RESIDENCE: BEVERLY President Xi Jinping.
ductor Laboratory inspired $9.7 BILLION S SELF-MADE SCORE: ^ HILLS, CA
him and seven others ( “the SOURCE: SPORTS, REAL ESTATE PHILANTHROPY SCORE: 58. CHRISTY WALTON
traitorous eight”) to leave AGE: 72 RESIDENCE: ELECTRA, TX
At age 4 Lynda started perform-
and start Fairchild Semicon- PHILANTHROPY SCORE: ing on a live weekly television $8.5 BILLION S SELF-MADE SCORE: !
ductor in 1957. He worked In August the real estate mogul show in Philadelphia. Stewart, SOURCE: WALMART
at Fairchild for 11 years, became sole owner of Arse- AGE: 70 RESIDENCE: JACKSON, WY
after which he and Robert nal football club after buying at age 13, worked as a stockroom PHILANTHROPY SCORE:
boy at a drugstore in New Jer-
Noyce split off to start semi- out Russian tycoon Alisher Us- sey and saved enough money to When her husband, John, son of
conductor firm Intel, which manov’s minority stake, report- buy a camera and take pictures Walmart founder Sam Walton,
he ran for years. His foun- edly paying $58 million and died in a plane crash in 2005,
dation has donated millions borrowing $719 million from of neighborhood homes, selling she inherited a stake in the re-
the images to the homeowners.
to the Thirty Meter Tele- Deutsche Bank. Construction The two met when Stewart in- tailer, but most of her late hus-
scope in Hawaii; construc- on a new stadium for his Los terviewed her ad agency Lynda band’s shares went to their only
tion began in July. Activists Angeles Rams is ongoing; it Limited, which she started after child, Lukas (No. 28). In 2010 WAYNE MILLER-MAGNUM PHOTOS
say the telescope disrespects is projected to cost more than dropping out of college, to work she established Cuna del Mar,
a sacred site; proponents $5 billion. He is married to on a campaign for his janitori- an investment fund focused on
argue it will help scientists Walmart heir Ann Walton creating a sustainable supply of
learn about the universe. Kroenke (No. 67). al services company. Together seafood.
ever since, they own The Won-

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59. MICKY ARISON after he pleaded guilty to Florida ment towers and a retail com- laboration including more than
prostitution charges. The foun- plex; roughly 100,000 people visit 35 California newspapers that is
$8.1 BILLION T SELF-MADE SCORE: % dation said the disgraced finan- on a typical weekend day. In Au- working to cover income inequal-
SOURCE: CARNIVAL CRUISES cier was let go in 2007 and only gust, Ross hosted a fundraiser for ity and poverty in the state. The
AGE: 70 RESIDENCE: BAL HARBOUR, FL appeared on its tax filings due Donald Trump at his Southamp- couple’s Beneficus Foundation
PHILANTHROPY SCORE: to a recording error. Black later ton home, sparking calls to boy- supports free online tutoring site
sent an email to employees ex- cott fitness chains Equinox and Khan Academy and Climate Re-
The Carnival Corp. chairman
plaining that he was unaware of SoulCycle. Ross is a minority in- ality Project, which is working to
donated $1 million to victims of
Epstein’s conduct when he ap- vestor in both. combat climate change.
Hurricane Dorian. The company
donated another $1 million and pointed him. Black cofounded
dispatched two cruise ships— private equity giant Apollo Glob- 67. JOHN DOERR 67. RICHARD KINDER
al Management in 1990. 129
the Pride and the Liberty—to
Freeport to deliver relief sup- $7.5 BILLION T SELF-MADE SCORE: * $7.5 BILLION S SELF-MADE SCORE: *
plies to the Bahamas. Arison’s 63. RONALD PERELMAN SOURCE: VENTURE CAPITAL SOURCE: PIPELINES T
dad, Ted, cofounded Carnival AGE: 68 RESIDENCE: WOODSIDE, CA AGE: 75 RESIDENCE: HOUSTON H
in 1972, and Micky soon joined, $7.7 BILLION T SELF-MADE SCORE: & PHILANTHROPY SCORE: PHILANTHROPY SCORE: E

working in sales before moving SOURCE: LEVERAGED BUYOUTS The chairman of venture capi- Kinder is cofounder and chair- F
AGE: 76 RESIDENCE: NEW YORK CITY O
on to reservations. He was its tal firm Kleiner Perkins remains man of Kinder Morgan, one of R
CEO from 1979 until 2013. PHILANTHROPY SCORE: one of Silicon Valley’s power bro- the largest energy infrastruc- B
Perelman learned about busi- kers. An early backer of Google ture firms in North America, with E
S
60. DAVID GEFFEN ness from his father, who ran and Amazon through the firm, 84,000 miles of pipeline. Hav-
4
manufacturing and mining he’s recently invested in compa- ing cleared major legal hurdles in 0
$7.9 BILLION T SELF-MADE SCORE: ( companies. As a teenager he nies such as health-insights start- Texas, Kinder Morgan is begin- 0
SOURCE: RECORD LABELS, MOVIES worked the loading dock of a up Cardinal Analytx Solutions, ning construction of the $2 billion
AGE: 76 RESIDENCE: BEVERLY HILLS, CA family brewery. In the 1980s he health advisor Tia and student- Permian Highway Pipeline from
PHILANTHROPY SCORE: earned a reputation as an ag- financial-aid tool Mos. With his Waha, Texas, to the Gulf Coast.
gressive corporate raider, but wife, Ann, he has funded projects Kinder had a paper route growing
In 1963, the Brooklyn native
got his start in Hollywood as an his empire is dwindling. The like The California Divide, a col- up in Missouri.
usher at CBS Television City. stocks of cosmetics giant Rev-
lon and gambling business Sci-
The next year he landed in the
entific Games are both down
mailroom of talent agency Wil- • B E G I N N I N G S •
liam Morris, lying about gradu- more than 20% this year. In De-
cember his family foundation
ating from UCLA. It worked:
pledged $65 million to Prince-
Geffen eventually became an
agent. He then founded his own ton, where his daughter Debra,
record labels and later partnered Revlon’s CEO, went to college.
with Steven Spielberg (No. 225)
and Jeffrey Katzenberg to create 63. CHARLES SCHWAB
DreamWorks.
$7.7 BILLION T SELF-MADE SCORE: *
61. TOM & JUDY LOVE SOURCE: DISCOUNT BROKERAGE
AGE: 82 RESIDENCE: WOODSIDE, CA
PHILANTHROPY SCORE:
$7.8 BILLION S SELF-MADE SCORE: (
SOURCE: RETAIL & GAS STATIONS The stock price of Schwab’s epon-
AGES: 82, 82 RESIDENCE: ymous brokerage firm is down
OKLAHOMA CITY about 20% in the past year amid
growing competition. Schwab
PHILANTHROPY SCORE:
founded the company in 1971 and
Before he became a business-
stepped down as CEO in 2008.
man, Tom Love was an officer With his wife, Helen, Schwab
in the Marines. He left in 1958,
has donated millions to support
and six years later he and his
causes including California char-
wife, Judy, opened a gas station ter schools and research for
in Watonga, Oklahoma. Today Alzheimer’s and dyslexia. He cut
their Love’s Travel Stops &
Country Stores have more than his teeth in the financial world in
1963, helping to start The Invest-
490 locations in 41 states and ment Indicator newsletter.
estimated sales of $20 billion.

63. LEON BLACK 66. STEPHEN ROSS 55. HAROLD HAMM & FAMILY

$7.6 BILLION WX SELF-MADE SCORE: *
$7.7 BILLION S SELF-MADE SCORE: * $8.8 BILLION T SELF-MADE SCORE: )
SOURCE: REAL ESTATE
SOURCE: PRIVATE EQUITY SOURCE: OIL & GAS
AGE: 79 RESIDENCE: NEW YORK CITY
AGE: 68 RESIDENCE: NEW YORK CITY AGE: 73 RESIDENCE: OKLAHOMA CITY
PHILANTHROPY SCORE:
PHILANTHROPY SCORE: PHILANTHROPY SCORE:
After more than a decade of plan-
The private equity magnate was The youngest of 13 kids born to Oklahoma sharecroppers, Hamm
ning and construction, Ross’ Re-
named in the Jeffrey Epstein lated Companies opened a portion (above at left in a 1964 photo) picked cotton and tomatoes as a
scandal this summer when news of its $25 billion Hudson Yards child. He later mucked out oil tanks and founded a trucking com-
broke that tax filings for his fam- pany that hauled water to oilfields. At 21 he started an oil-drilling
in March. The 28-acre develop-
ily foundation listed Epstein as outfit. Today his Continental Resources produces 330,000 barrels
ment on Manhattan’s far west side
a director until 2012, four years of oil and gas a day in North Dakota, Oklahoma and Montana.
includes office buildings, apart-
O C T O B E R 3 1 , 2 0 1 9 F O R B E S . C O M

• B E G I N N I N G S •
stake in candy and pet-care tical software firm SAS in 1976.
company Mars after their fa- Today it’s a $3.3 billion (reve-
ther, Forrest Mars Jr., died in nues) company with software
2016. Together they own an es- used by more than 83,000 or-
timated one third of the $35 ganizations around the world.
billion (est. sales) company, In March it announced it was
which has recently taken an in- investing $1 billion in AI over
terest in helping food-based the next three years, including
startups through its newly funds for an accelerator pro-
launched Seeds of Change ac- gram that offers training and
celerator. Pamela works as a certification programs to busi-
130 company ambassador to the ness leaders and data scientists.
Mars pet-care division, and
Marijke and Victoria (who was 77. HERBERT KOHLER JR.
T formerly chairman) both sit on
S & FAMILY
I the board.
L

E $7.2 BILLION T SELF-MADE SCORE: $
H 75. JOHN MALONE SOURCE: PLUMBING FIXTURES
T
AGE: 80 RESIDENCE: KOHLER, WI
61. SHAHID KHAN $7.3 BILLION T SELF-MADE SCORE: *
SOURCE: CABLE TELEVISION PHILANTHROPY SCORE:
$7.8 BILLION S SELF-MADE SCORE: ) AGE: 78 RESIDENCE: ELIZABETH, CO He is the chairman of Kohler,
SOURCE: AUTO PARTS PHILANTHROPY SCORE: his family’s plumbing-fixture
AGE: 69 RESIDENCE: NAPLES, FL company. He ran the compa-
The cable magnate started his
PHILANTHROPY SCORE: career in 1963 at Bell Labs, ny, which was founded by his
The Pakistan native arrived in the U.S. at 16 with $500 in his pock- where he worked in econom- grandfather in 1873 to make
farm tools, for 43 years; his son
et; to make ends meet in college he washed dishes, delivered piz- ic planning and research and de- David became CEO in 2015.
zas and then landed a job at auto parts manufacturer Flex-N-Gate, velopment. He has since orches-
where he stayed on to oversee production as an engineering man- trated numerous media deals.
ager. While there, he came up with a revolutionary design for a He sold TCI to AT&T for more 79. DIANE HENDRICKS
single-piece bumper and struck out on his own in 1978 with Bum- than $50 billion in 1999, and last
per Works; the business made enough money for Khan to buy out year merged Discovery Inc. and $7 BILLION S SELF-MADE SCORE: (
SOURCE: ROOFING
his former employer two years later. Today Flex-N-Gate makes 84% Scripps. Malone, who stepped AGE: 72 RESIDENCE: AFTON, WI
of the metal bumpers for trucks and SUVs in North America. Khan, down from the boards of Lions
who also owns the NFL’s Jacksonville Jaguars, launched All Elite Gate Entertainment and Char- PHILANTHROPY SCORE:
Wrestling, a competitor to WWE, in January with his son Tony. ter Communications in 2018, America’s richest self-made
still chairs Liberty Media, which woman grew up on a Wiscon-
owns the Atlanta Braves, For- sin dairy farm and did stints as
mula One racing, and SiriusXM. a waitress and as a pen-facto-
67. ANN WALTON KROENKE the Museum of the Bible, which ry worker before meeting her
opened in 2017. He worked as a 75. DAVID SHAW roofer husband, Ken Hendricks
$7.5 BILLION S SELF-MADE SCORE: ! stock boy at a general store dur- (d. 2007), while selling custom
SOURCE: WALMART ing high school. $7.3 BILLION S SELF-MADE SCORE: * homes. Together, the couple
AGE: 70 RESIDENCE: ELECTRA, TX SOURCE: HEDGE FUNDS renovated and rented out apart-
70. MARIJKE MARS
PHILANTHROPY SCORE: AGE: 68 RESIDENCE: NEW YORK CITY ments. They founded ABC Sup-
She inherited her fortune when PHILANTHROPY SCORE: ply in Beloit, Wisconsin, in 1982.
her father, Bud Walton, broth- $7.4 BILLION S SELF-MADE SCORE: @ Originally an academic, Shaw It’s now the nation’s largest dis-
er of Walmart founder Sam, died SOURCE: CANDY, PET FOOD worked at Columbia U’s com- tributor of roofing. Under Hen-
AGE: 55 RESIDENCE: LOS ANGELES dricks, who is chairperson, the
in 1995. She is married to Stan- puter-science department be-
ley Kroenke (No. 49) and is not in- PHILANTHROPY SCORE: N.A. fore leaving to explore com- business surpassed $10 billion
volved with the family business. putational finance in 1986. He in annual sales for the first time
70. PAMELA MARS started his firm D.E. Shaw a in 2018.
70. DAVID GREEN $7.4 BILLION S SELF-MADE SCORE: @ couple years later. He stepped 79. EDWARD JOHNSON III
& FAMILY SOURCE: CANDY, PET FOOD away from management of the
firm in 2002 to return to re-
AGE: 59 RESIDENCE: ALEXANDRIA, VA
search; he now leads a group $7 BILLION T SELF-MADE SCORE: %
$7.4 BILLION S SELF-MADE SCORE: ) PHILANTHROPY SCORE: N.A. SOURCE: MONEY MANAGEMENT
of scientists studying compu-
SOURCE: RETAIL AGE: 89 RESIDENCE: BOSTON
AGE: 77 RESIDENCE: OKLAHOMA CITY 70. VALERIE MARS tational biochemistry. He still PHILANTHROPY SCORE:
has a stake in the hedge fund he
PHILANTHROPY SCORE: created. “Ned” joined mutual fund giant
$7.4 BILLION S SELF-MADE SCORE: @
While other brick-and-mor- SOURCE: CANDY, PET FOOD Fidelity, founded by his father,
tar retailers struggle to keep AGE: 60 RESIDENCE: NEW YORK CITY 77. JAMES GOODNIGHT in 1957 as an analyst. He took
the lights on, Hobby Lobby has over as chairman and CEO in
PHILANTHROPY SCORE: N.A.
opened nearly 50 new stores 1977 and held those roles for
$7.2 BILLION T SELF-MADE SCORE: *
in 2019. Green set up his first 70. VICTORIA MARS SOURCE: SOFTWARE nearly 40 years before passing
crafts shop—a 300-square-foot AGE: 76 RESIDENCE: CARY, NC them to daughter Abigail (No.
store in Oklahoma—in 1970. $7.4 BILLION S SELF-MADE SCORE: @ PHILANTHROPY SCORE: 34). An enthusiastic art collec-
Today his Hobby Lobby has SOURCE: CANDY, PET FOOD tor, his Brookfield Arts Founda-
850 locations in 46 states and AGE: 62 RESIDENCE: PHILADELPHIA After the North Carolina State tion buys art and loans it to mu-
University professor met stu-
$5 billion in sales. Green, a de- PHILANTHROPY SCORE: N.A. dent John Sall (No. 225) in the seums and institutions like the
vout Christian, and his fami- The sisters inherited their Museum of Fine Arts, Boston.
ly donated $500 million to fund 1960s, the two cofounded statis-

O C T O B E R 3 1 , 2 0 1 9
F O R B E S . C O M
WEALTH INHERITED VS. SELF-MADE CHANGE IN WEALTH KEY: S UP T DOWN SIGNATORY OF THE PHILANTHROPY SCORE
! @ # $ % ^ & * ( ) WX UNCHANGED Ì NEW TO LIST 3 RETURNEE GIVING PLEDGE

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• B E G I N N I N G S •
2018. Its next project: the Bob 85. JUDE REYES Abraxis and American Phar-
Dylan Center, which will open maceutical Partners, for a com-
in Tulsa in 2021 and display the $6.7 BILLION S SELF-MADE SCORE: * bined $9.1 billion by 2010. He
songwriter’s extensive archive. SOURCE: FOOD DISTRIBUTION bought the Los Angeles Times
AGE: 64 RESIDENCE: PALM BEACH, FL and the San Diego Tribune
82. STEVEN RALES PHILANTHROPY SCORE: for $500 million in June 2018.
The brothers agreed to sell their When he was 14, he earned
$6.9 BILLION S SELF-MADE SCORE: & food-service distributor Rein- money by distributing copies of
SOURCE: MANUFACTURING hardt for $2 billion in July. That the Evening Post in Port Eliza-
AGE: 68 RESIDENCE: same month, their $32.5 bil- beth, South Africa.
SANTA BARBARA, CA
lion (revenues) Reyes Holdings
132 PHILANTHROPY SCORE:
said it would acquire a North- 91. ISRAEL ENGLANDER
Wes Anderson’s Isle of Dogs, ern California beer distributor,
which Rales coproduced, came up adding nearly 14,000 new re- $6.6 BILLION S SELF-MADE SCORE: (
T SOURCE: HEDGE FUNDS
S short in February at the Academy tail accounts, in a deal valued
I AGE: 71 RESIDENCE: NEW YORK CITY
L Awards after being nominated for at roughly half a billion. Reyes
PHILANTHROPY SCORE:
E best animated feature. Rales was Holdings is already the larg-
H 84. ELI BROAD probably too preoccupied to care: est beer distributor in the U.S. Englander’s $39 billion (assets)
T
Hours after the film lost out, Da- and owns two Coca-Cola bot- firm, Millennium Management,
$6.8 BILLION S naher—the industrial conglom- tlers and distributors. It also is known for its strategy of re-
SELF-MADE SCORE: (
erate he and his brother Mitchell owns Martin Brower, a food dis- warding its highest perform-
SOURCE: INVESTMENTS (No. 154) cofounded—announced
AGE: 86 RESIDENCE: LOS ANGELES tributor to McDonald’s, Panera ing trading teams with more
that it would acquire GE’s bio- and Chick-fil-A. Chris and Jude capital and cutting off or firing
PHILANTHROPY SCORE:
pharma business for $21.4 billion started the business in 1976. those who lose money. Known
The son of Lithuanian im- in cash. The deal hasn’t closed Younger brother Duke, who is as Izzy, Englander founded the
migrants got his first job at yet, but Danaher’s stock price has now CEO, is worth $1.5 billion. firm in 1989.
a Detroit outlet of A.S. Beck risen by nearly one fourth since.
Shoes at 17. Broad made his 91. REINHOLD
first million in his mid-twen- 85. JIM DAVIS & FAMILY 85. JOHN A. SOBRATO
ties after cofounding home & FAMILY SCHMIEDING
builder Kaufman & Broad $6.7 BILLION S SELF-MADE SCORE: *
in 1957 (pictured above SOURCE: NEW BALANCE $6.7 BILLION S SELF-MADE SCORE: & $6.6 BILLION S SELF-MADE SCORE: *
in that company’s early AGE: 76 RESIDENCE: NEWTON, MA SOURCE: REAL ESTATE SOURCE: MEDICAL DEVICES
years). He later bought Sun PHILANTHROPY SCORE: AGE: 80 RESIDENCE: ATHERTON, CA AGE: 64 RESIDENCE: NAPLES, FL
Life Insurance, transforming Davis owns an estimated 95% of PHILANTHROPY SCORE: PHILANTHROPY SCORE: N.A.
it into annuities giant Sun- sneaker giant New Balance, which Sobrato worked summers at a Michigan-born Schmieding
America, before selling it to he bought in 1972 for $100,000. It hardware store starting at age first worked at a medical device
AIG for $18 billion in stock 12, going on to join the carpen- company. That gave him the
now has $4.1 billion in sales. He
in 1998. In June, Broad pub- ter’s union as an apprentice and know-how to found Arthrex, an
started working for his father’s
lished an opinion piece in restaurants as a “lumper” carrying then build his family’s real es- orthopedic surgical tools com-
the New York Times support- tate holdings into the sprawl- pany, in Naples, Florida. The
trays. At college he studied biology
ing a wealth tax for the top ing Sobrato Organization. Ten- private company has estimated
and chemistry, thinking he’d work
1%. He and his wife, Edythe, ants at its Silicon Valley office revenues of more than $2 bil-
in medicine, until one of his pro-
have two philanthropic fessors suggested his talent might buildings include Amazon, lion and about 30% of the mar-
foundations and recent- Google, Facebook and Netflix. ket for sports medicine surgical
be in sales. That led to a job as a
ly celebrated more than 50 sales rep for a high-tech medical He stepped down from daily op- tools, according to competitor
years of grant-making. erations in 2013. Smith & Nephew.
electronics firm.
85. NANCY 85. PATRICK 93. MARC BENIOFF
WALTON LAURIE SOON-SHIONG $6.5 BILLION S SELF-MADE SCORE: *
79. GEORGE KAISER SOURCE: BUSINESS SOFTWARE
$6.7 BILLION S SELF-MADE SCORE: ! $6.7 BILLION T SELF-MADE SCORE: ( AGE: 55 RESIDENCE: SAN FRANCISCO
SOURCE: PHARMACEUTICALS
$7 BILLION T SELF-MADE SCORE: % SOURCE: WALMART AGE: 67 RESIDENCE: LOS ANGELES PHILANTHROPY SCORE:
SOURCE: OIL & GAS, BANKING AGE: 68 RESIDENCE: HENDERSON, NV The Salesforce cofounder
AGE: 77 RESIDENCE: TULSA PHILANTHROPY SCORE: PHILANTHROPY SCORE: turned local politics into na-
PHILANTHROPY SCORE: The daughter of Bud Walton, Soon-Shiong took heat this tional news this year, support-
spring when Sorrento Thera-
Kaiser started working for who helped his brother Sam ing a ballot measure to raise
his family’s Kaiser-Francis Oil build Walmart into a retail jug- peutics filed a lawsuit accus- taxes on San Francisco’s largest
Co. in Tulsa after earning an gernaut. She inherited a stake ing him of a “catch and kill” companies to finance homeless
scheme that ultimately prevent-
M.B.A. at Harvard in 1966. He in Walmart that has made both programs; he chastised folks
ed a cancer drug from reaching
took control of the company her and her sister Ann Walton like Jack Dorsey (No. 169) who
three years later. He plowed Kroenke (No. 67) billionaires. the market. Sorrento alleges opposed the measure, which
this happened in the years fol-
profits into acquiring a major- voters approved. In May Be-
lowing the sale of Sorrento’s
ity stake in the Bank of Okla- 85. J. CHRISTOPHER REYES nioff, whose first job was work-
homa and investments in nat- cancer drug Cynviloq to his ing at a jewelry store in high
ural gas carriers and the NBA’s $6.7 BILLION S SELF-MADE SCORE: * NantPharma in 2015. This past school, announced a $30 mil-
Oklahoma City Thunder. His SOURCE: FOOD DISTRIBUTION April Soon-Shiong told Forbes lion gift to University of Cal-
the allegations were false. A
foundation donated funds to AGE: 65 RESIDENCE: HOBE SOUND, FL ifornia San Francisco to fund
create the Gathering Place, a PHILANTHROPY SCORE: medical doctor, he founded research into ending home-
park in Tulsa that opened in and sold two drug companies, lessness.


O C T O B E R 3 1 , 2 0 1 9
F O R B E S . C O M
WEALTH INHERITED VS. SELF-MADE CHANGE IN WEALTH KEY: S UP T DOWN SIGNATORY OF THE PHILANTHROPY SCORE
! @ # $ % ^ & * ( ) WX UNCHANGED Ì NEW TO LIST 3 RETURNEE GIVING PLEDGE

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93. DANIEL GILBERT 95. MARGARETTA 95. ROBERT PERA dividual stakeholder in Car-
gill, the biggest private com-
$6.5 BILLION T SELF-MADE SCORE: * TAYLOR $6.4 BILLION S SELF MADE SCORE: * pany in the U.S. with sales of
SOURCE: QUICKEN LOANS SOURCE: WIRELESS NETWORKING $113.5 billion, she owns an es-
$6.4 BILLION S SELF-MADE SCORE: !
AGE: 57 RESIDENCE: FRANKLIN, MI GEAR timated 12% of the agricul-
SOURCE: MEDIA, AUTOMOTIVE AGE: 41 RESIDENCE: SAN JOSE, CA
PHILANTHROPY SCORE: ture company founded by her
AGE: 77 RESIDENCE:
Gilbert, who is recovering from a SOUTHAMPTON, NY PHILANTHROPY SCORE: great-grandfather W.W. Cargill
stroke he had in May, has spent PHILANTHROPY SCORE: Most recent college grads would in 1865. For the first time in
years buying and revitalizing These three siblings inherit- be overjoyed to land a hardware three years, sales and earnings
buildings in Detroit. It’s paying engineering job at Apple. But not at Cargill fell—1% and 17%, re-
ed a combined 50% of Cox En- spectively—in the fiscal year
off—his Jack Entertainment sold the Ubiquiti Networks CEO, who
134 terprises from their mother, through May.
the city’s Greektown Casino-Ho- Anne Cox Chambers, who is wanted success much faster. At 26,
tel this spring for $1 billion. His he launched Ubiquiti, which sells
still alive. Neither Anne nor her
largest asset is mortgage lend- wireless networking systems. The 107. GEORGE LUCAS
T children have ever had an ac-
S er Quicken Loans, which he co- company went public before his
I tive role at the family-owned
L founded when he was 22. Earlier 34th birthday; today it has a mar- $6.2 BILLION S SELF-MADE SCORE: *
firm. Taylor’s son Alex is presi- SOURCE: STAR WARS
E still, Gilbert opened up a pizzeria ket cap of nearly $8 billion. Pera
H in his mother’s kitchen, though dent and CEO of the $21 billion is the majority owner of the NBA’s AGE: 75 RESIDENCE: SAN ANSELMO, CA
T (sales) automotive and media
the local health department shut company. Memphis Grizzlies, which are on PHILANTHROPY SCORE:
it down within a week. their fifth coach in ten years. Lucas, whose parents ran a
stationery store in Modesto,
95. JAMES CHAMBERS 95. BERNARD MARCUS 100. DANNINE AVARA California, studied film at the
University of Southern Califor-
$6.4 BILLION S SELF-MADE SCORE: )
$6.4 BILLION S SELF-MADE SCORE: ! $6.3 BILLION S SELF-MADE SCORE: ! nia. After graduating, he won
SOURCE: HOME DEPOT
SOURCE: MEDIA, AUTOMOTIVE SOURCE: PIPELINES a Warner Bros. scholarship, al-
AGE: 90 RESIDENCE: ATLANTA
AGE: 62 RESIDENCE: PALISADES, NY AGE: 55 RESIDENCE: HOUSTON lowing him to become a pro-
PHILANTHROPY SCORE:
PHILANTHROPY SCORE: PHILANTHROPY SCORE: duction assistant on Francis
The Home Depot cofounder cel- Ford Coppola’s Finian’s Rain-
95. KATHARINE RAYNER ebrated his 90th birthday in 100. SCOTT DUNCAN bow. Three years later, Coppo-
June at the Georgia Aquarium. la executive-produced Lucas’
$6.4 BILLION S SELF-MADE SCORE: ! Hundreds of people attended $6.3 BILLION S SELF-MADE SCORE: ! first feature film, THX 1138.
SOURCE: MEDIA, AUTOMOTIVE the event, during which guests SOURCE: PIPELINES The Star Wars and Indiana
AGE: 74 RESIDENCE: EAST HAMPTON, NY raised more than $117 million AGE: 36 RESIDENCE: HOUSTON Jones creator has largely re-
PHILANTHROPY SCORE: for his favorite nonprofits. PHILANTHROPY SCORE: tired from film. He and his
wife, Mellody Hobson, have
100. RANDA DUNCAN put $1 billion into the Lucas
• B E G I N N I N G S •
WILLIAMS Museum of Narrative Art,
which will open in Los Ange-
$6.3 BILLION S SELF-MADE SCORE: # les in 2021.
SOURCE: PIPELINES
108. JOHN OVERDECK
AGE: 58 RESIDENCE: HOUSTON
PHILANTHROPY SCORE:
$6.1 BILLION S SELF-MADE SCORE: *
100. MILANE FRANTZ SOURCE: HEDGE FUNDS
AGE: 49 RESIDENCE: MILLBURN, NJ
$6.3 BILLION S SELF-MADE SCORE: ! PHILANTHROPY SCORE:
SOURCE: PIPELINES
108. DAVID SIEGEL
AGE: 50 RESIDENCE: HOUSTON
PHILANTHROPY SCORE:
In June, Williams purchased $6.1 BILLION S SELF-MADE SCORE: *
Texas Monthly magazine from a SOURCE: HEDGE FUNDS
private equity firm for an undis- AGE: 58 RESIDENCE: SCARSDALE, NY
closed amount. She and her three PHILANTHROPY SCORE:
siblings are the biggest share- Siegel and his partner,
holders of Enterprise Products Overdeck, have built one of the
Partners, the oil and gas pipeline nation’s biggest hedge fund
company their father, Dan Dun- firms, Two Sigma Investments,
82. ROBERT KRAFT can (d. 2010), founded in 1968. over 18 years. With $60 billion
She is the only one involved in
under management, Two Sigma
$6.9 BILLION S SELF-MADE SCORE: * the publicly traded company, is a quantitative trading firm
SOURCE: NEW ENGLAND PATRIOTS which she chairs. that uses a data-driven process
AGE: 78 RESIDENCE: BROOKLINE, MA to absorb large amounts of
PHILANTHROPY SCORE: 100. PAULINE MACMILLAN information to predict the
Nearly three weeks after his New England Patriots won their sixth KEINATH prices of securities. The firm has RICK FRIEDMAN-SPORTS ILLUSTRATED- GETTY IMAGES
Super Bowl in February, Kraft was charged with two counts of solicit- branched out to private
equity and venture capital, pri-
ing prostitution in Jupiter, Florida. He pleaded not guilty; the case is $6.3 BILLION T SELF-MADE SCORE: ! marily investing Overdeck’s and
ongoing. Kraft, who sold newspapers outside the old Braves Stadium SOURCE: CARGILL
in Boston as a kid, made a fortune in paper and packaging before he AGE: 85 RESIDENCE: ST. LOUIS Siegel’s money. Before
Two Sigma, Siegel launched
bought the Patriots for $172 million in 1994. The NFL team is PHILANTHROPY SCORE: N.A. Blink.com, a bookmarking
now worth $4.1 billion. He committed $20 million this year to estab- Believed to be the largest in- website, in 1999.
lish a foundation to fight anti-Semitism and hate crimes.


O C T O B E R 3 1 , 2 0 1 9
F O R B E S . C O M
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before it was even a thing.




Since 1970, we’ve been engaging on ESG product and


social issues. Today, we manage more than $20 billion

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Bill Ackman Marc Benioff The Impact 50

His Pershing Square Founda-
tion has committed more than The CEO of Salesforce, which
$40 million to mission-driven launched an impact fund in
social enterprises like February, personally invest-
InClassToday, which aims ed in recycling and waste re-
to reduce school absences. duction firm Rubicon Global. INVESTORS


Steve Ballmer David Bonderman
Ballmer has put more than
$60 million into outfits The TPG chairman cofound-
like Social Solutions, which ed the firm’s impact invest- WITH
makes software for nonprof- ing Rise Fund, which is clos-
its and government agencies. ing its second fund this year
INTENT
with $3 billion in new capital.











Never before has it been more on trend
to do good with your dollars. Coined at
a Rockefeller Foundation event in 2007,
the term “impact investing” is defined as
investing in ventures that both make money
and have a positive social or environmental
impact. It’s a strategy that’s been embraced
by many, including billionaires, pop stars
and athletes. As of April, there were more

than 1,340 organizations managing $502
billion in impact investing assets worldwide,
according to the Global Impact Investing
Network. That’s more than double last year’s
total. Forbes has put together The Impact 50
to highlight some of the most notable impact
investors. Twenty-nine are members of The
Forbes 400. Some are on other Forbes lists.
Still others have paved their own paths.









Scott Cook
Jim Breyer Howard W. Buffett
The Intuit cofounder says social change is hard, but impact invest-
ing is the way ahead. “We’ll probably do it for a decade, 20 years,”
Cook said of his impact portfolio. Cook’s investing focuses on The venture capitalist has in- The Oracle of Omaha’s grand-
bringing technology into education and helping close the achieve- vested $25 million in start- son teaches sustainable invest-
ment gap, especially around pre-K for low-income youth. He’s in- ups with purpose, includ- ing, wrote a book on how to
vested $8.8 million into edtech funds like Reach, Owl and Rethink ing Apollo Agriculture, to measure its returns and is an
Education and $26.4 million into nine startups, including literacy help farmers in Kenya max- investor in Forbes Under 30
software LightSail and data-driven higher education imize profits, and Paige.AI, alum Justin Kamine’s KDC Ag.
engagement platform Civitas.
which applies AI to pathology.


O C T O B E R 3 1 , 2 0 1 9

Michael Dell Diane Hendricks Irwin Jacobs

His and his wife’s foundation To revive Beloit, Wisconsin, Hen- The Qualcomm founder has in-
has invested in urban educa- dricks repurposed an old factory vested millions in social impact
tion, such as for-profit education campus as a modern working startups, such as water purifi-
technology platforms in India. space with a startup incubator. cation company CycloPure and
clean-engine maker Tour Engine.
John Doerr Reid Hoffman
Paul Tudor Jones
An early backer of clean- The LinkedIn cofounder has put
tech companies, the VC is now $1.5 billion into impact invest- The hedge fund manager co-
an investor in G2VP, a $350 ments through charitable en- founded research nonprofit
million cleantech fund. tities—specifically foundations JUST Capital, which ranks Rus-
and donor-advised funds. He sell 1000 companies on their im-
Dagmar Dolby backs groups like low-cost mo- pact on communities, employ-
bile payment app Segovia. ees, customers and others.
In 2014, Dolby and her fam-
Liesel Pritzker ily founded Dolby Fami-

The Hyatt Hotels heiress is an ly Ventures, an impact invest-
avid impact investor through her ment entity that bets mostly
Blue Haven Initiative, which bills on biomedical startups.
itself as “one of the first family
offices created with impact in- Cheryl Dorsey
vesting as its focus.” It’s invested
in Kenyan solar energy compa- As president of the fellow-
ny M-Kopa and Nigeria’s on- ship program Echoing Green,
line payment startup Paystack. she led $2.6 million worth
She also created the ImPact, a of investments in 56 social-
pledge calling on wealthy fam- good organizations in 2018.
ilies to pursue investments with
measurable social returns.
Bill & Melinda Gates


The couple’s foundation has put
about $2 billion into for-prof-
it businesses that address health-
Steve & Jean Case
care and poverty, with returns
Their foundation’s Impact coming back to the foundation.
Investing Network Map tracks
transactions between impact Daniel Gilbert
investors and socially con-
scious startups in an effort The Quicken Loans cofound-
to make the burgeoning sec- er and his companies are pump-
tor more transparent. ing $5.6 billion into the revital-
ization of Detroit’s downtown.
Sean “Diddy”
Combs Al Gore
In May, his investment man-
The hip-hop artist has invest-
ed in Andreessen Horowitz’s new agement firm raised over $1 bil-
Cultural Leadership Fund, which lion for its Sustainable Solutions
donates all fees and profits to Fund, which will back later-
nonprofits that help African stage startups that focus on en- Evan Williams
Americans join the tech sector. vironmental solutions, health-
care and financial inclusion. Obvious Ventures, which the Twitter cofounder helped set up, focus-
es on “world positive” investing, betting on companies that it thinks
Jim Coulter have disruptive solutions to some of humanity’s biggest problems.
Arlan Hamilton So far it has raised over $315 million and put money into 47 portfo-
The Rise Fund, of which he is lio companies including sustainable diamond manufacturer Dia-
co-managing partner, has im- Her Backstage Capital funds mond Foundry, which grows cultured diamonds in a California lab,
pact investments in more than companies led by minority and and plant protein company Beyond Meat, whose successful IPO this STEPHEN VOSS/REDUX (NEAR LEFT)
25 companies including Zipline, female founders, like maternal year encapsulates the notion of a double bottom line. A certified B
a drone-based rapid deliv- and child healthcare platform Corp, Obvious even incorporates values into its “World Positive” term
ery service for healthcare pro- Mahmee and criminal justice sheets that investors and founders can sign.
viders in Ghana and Rwanda. software startup Promise.





EDUCATION INTERNATIONAL HEALTHCARE POVERTY/INEQUALITY TECHNOLOGY ENVIRONMENT URBAN RENEWAL CIVIC ENGAGEMENT DIVERSIFIED ON THE 400 LIST

Jim McKelvey

The Square cofounder is com-
mitted to remaking St. Lou-
is, in part by funding its start-
ups such as cancer vaccine
company Immunophotonics.


Derrick Morgan
The former Tennessee Titans
linebacker set up an Opportu-
nity Zone fund in 2019 to in-
vest in marginalized commu-
nities. He also has personal
investments in such companies
as CleanFiber, which makes in-
sulation from recycled materials.


Dustin Moskovitz

Through his Good Ventures, the
Asana and Facebook cofound-
er has invested in healthcare
companies like Sherlock Bio-
sciences, which is working to
easily detect human viruses.


Jacqueline Novogratz


Her nonprofit fund Acumen has
invested $110 million to build
more than 102 social enter-
prises in countries like Ugan-
da, Kenya and Pakistan.

Pierre Omidyar


His Omidyar Group has put
more than $700 million into
startups that combat issues like
gender and income inequality,
Laurene Powell Jobs such as Indian digital sav-
As founder of the philanthropic, investment and advocacy entity Emerson Collective, Powell Jobs partners ings platform Kaleidofin.
with entrepreneurs, policymakers and advocates to promote social change. She’s backed English learner-
focused software startup Ellevation, public sector budgeting software OpenGov, and environmental sensor Sean Parker
network Aclima. She also sits on the board of social and environmental impact fund The Rise Fund.
The original Facebook president
has played a key role in cham-
pioning Opportunity Zones,
a government initiative to in-
vest in low-income areas.
Justin Kamine Mitch Kapor Vinod Khosla
The 30-year-old, who appeared The Lotus Notes founder and Nancy Pfund
on Forbes’ Under 30 list in 2018, his wife, Freada, have invest- The impact arm of his Khosla
cofounded KDC Ag to create and ed, through their Kapor Cap- Ventures invests in startups like Her venture capital firm DBL
invest in profitable infrastruc- ital, $60 million in 102 com- Driptech, which makes afford- Partners has invested in
ture to reduce food waste in the panies using tech to close able drip irrigation for small- cleantech startups like ZOLA
U.S. Warren Buffett’s grand- opportunity gaps for low-in- plot farmers, and solar invest- Electric and sustainable com-
son Howard is an investor. come and minority communities. ment platform SunFunder. posting startup EcoScraps.

FROM LEFT: JOE PUGLIESE/AUGUST; MIKE COHEN/THE NEW YORK TIMES/REDUX; MARTIN SCHOELLER/AUGUST

J.B. Pritzker David Robinson

Through his and his wife’s The 1995 NBA MVP’s Ad-
foundation, he has pioneered miral Capital funnels 10%
the use of social impact bonds of profits from its real es-
to fund early childhood ed- tate and private equity invest-
ucation for low-income stu- ments into community proj-
dents in Utah and Chicago. ects and San Antonio charter
school Carver Academy.
George Roberts
Eric & Wendy
Schmidt
His employment-focused
REDF venture philanthropy Their foundation put $50
aims to deploy $5 million in million in sustainable firms,
new debt financing by 2020. including environmental
Its first loan last year was to sensor network Aclima.
a Philadelphia laundry busi-
ness that hires the homeless Jeff Skoll
and the formerly incarcerated.
His Capricorn Investment
Group oversees $5 billion
in assets, most of which are
tied to renewable resourc-
Mark Cuban es and clean technology.

Will & Jada Smith
The serial entrepreneur invests
in mission-driven companies, Their investments include
especially those led by women Quidnet Energy, a stor-
or veterans. Examples of such age system developer to en-
investments include Mahmee, able a carbon-free power
a maternal healthcare tech- grid, and Just Water, which
nology company that counts makes cartons from plants. Ray Dalio
Serena Williams as an inves- With his family, the founder of the world’s biggest hedge fund,
tor, and Combat Flip Flops, Bridgewater Associates, has put $98 million into impact invest-
which manufactures clothing Jim Sorenson ments. Dalio is particularly focused on trying “to find ways of
and shoes in conflict areas and The son of a late billionaire, doing it in support of the oceans,” like funding documentaries.
uses profits to fund the educa- Sorenson donated $13 mil- He’s backed the Global Health Investment Fund, which provides
tion of Afghan girls and other lion to create the Sorenson Im- financing for drugs and vaccines against diseases faced dispro-
charitable causes. In June, portionately in poorer countries, and the Accion Frontier Inclusion
Cuban invested $1 million in pact Center at the University Fund, which backs companies that bring financial services to un-
Hala Systems, which uses AI to of Utah. His Impact Founda- derserved consumers in emerging markets.
prevent violence and keep ci- tion also backs entrepreneurs
vilians safe before, during and trying to solve social issues.
after conflict in places like
Syria. “It’s incredible what they Kat Taylor
have created and how many Christy Walton
lives they have saved,” he says. Taylor, who’s married to bil- Jerry Yang
lionaire Democratic pres- The Yahoo cofounder invests
idential candidate Tom Walton launched investment in socially minded compa-
Steyer, cofounded Radi- fund Cuna del Mar in 2010 nies, including a startup mak-
cle Impact in 2013 to back to back companies working ing healthcare more available
companies engaged in re- to develop a sustainable sup- in Rwanda and Ghana, both
sponsible finance, clean en- ply of seafood, like red snapper personally and through his VC
ergy and healthy food. farmer Earth Ocean Farms. firm AME Cloud Ventures.


Alice & Jim Walton Serena Williams Mark Zuckerberg

Her Serena Ventures invests
The siblings are spear- in groups that embrace di- The Facebook cofound-
heading a program that verse leadership and so- er and his wife have invest-
will issue $300 million cial change, such as Pro- ed more than $100 mil-
in bonds to help charter pel, a food-stamp software lion in a dozen-plus startups,
schools invest in facilities. for low-income Americans. mostly in education.



O C T O B E R 3 1 , 2 0 1 9

Impact without compromise.





TIAA-CREF Social Choice Bond Fund




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INTERMEDIATE CORE-PLUS BOND FUNDS


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108. GEORGE ROBERTS 114. BUBBA CATHY Bubba runs the company’s Geor- 119. ARTHUR BLANK
gia-based Dwarf House and Tru-
$6.1 BILLION S SELF-MADE SCORE: * $5.7 BILLION S SELF-MADE SCORE: $ ett’s Grill restaurants. Their late $5.5 BILLION S SELF-MADE SCORE: (
SOURCE: PRIVATE EQUITY SOURCE: CHICK-FIL-A father, Truett Cathy, opened his SOURCE: HOME DEPOT
AGE: 76 RESIDENCE: ATHERTON, CA AGE: 65 RESIDENCE: ATLANTA first chicken shack in an Atlanta AGE: 77 RESIDENCE: ATLANTA
PHILANTHROPY SCORE: PHILANTHROPY SCORE: mall in 1967. PHILANTHROPY SCORE:
After graduating from Claremont This year, Blank paid more than
McKenna College, Roberts got a 114. DAN CATHY 114. ERNEST GARCIA II $180 million for his new 240-
job at Bear Stearns, where he was foot yacht, DreAMBoat (AMB
mentored by Jerome Kohlberg. $5.7 BILLION S SELF-MADE SCORE: $ $5.7 BILLION S SELF-MADE SCORE: ( are his initials). He’s come a long
SOURCE: CHICK-FIL-A SOURCE: USED CARS
The duo plus Roberts’ cousin way since he started his first
AGE: 66 RESIDENCE: ATLANTA AGE: 62 RESIDENCE: TEMPE, AZ 143
Henry Kravis (No. 112) cofounded business—a laundry pickup ser-
PHILANTHROPY SCORE:
KKR in 1976, making their mark PHILANTHROPY SCORE: vice—as a student at Babson.
as early practitioners of lever- The brothers’ fast-food chicken Garcia spent decades in the used- In 1978, Blank and his co-work- T
aged buyouts. Now Roberts is a chain continues to dominate— car business, building DriveTime er Bernard Marcus (No. 95) were H
pioneer in giving, where his REDF both in sales and customer satis- Automotive into one of the na- fired from hardware store Handy E

(Roberts Enterprise Development faction. Chick-fil-A is the favorite tion’s biggest sellers of used cars. Dan. That year they dreamed up F
Fund) does venture philanthropy, fast-food restaurant in Ameri- But most of his fortune comes The Home Depot from a coffee O
R
backing more than 175 social ca, according to a recent Mar- from publicly traded Carvana, an shop in Los Angeles and, with B
enterprises in 26 states. ket Force survey. With more than online platform for buying used help from investor Ken Lan- E
S
2,400 restaurants in 47 states, the cars and getting auto loans co- gone (No. 187), opened their first
108. RONDA STRYKER chain says it had record revenues founded by his son Ernest (No. two stores in Atlanta the next 0
4
of more than $10 billion in 2018. 363) initially as a subsidiary of year. Blank made his first mil- 0
$6.1 BILLION S SELF-MADE SCORE: @ Dan is chairman and CEO while DriveTime. lion when the company went
SOURCE: MEDICAL EQUIPMENT
public in 1981. He also owns the
AGE: 65 RESIDENCE: PORTAGE, MI MLS team Atlanta United and is
• B E G I N N I N G S • 114. TAMARA GUSTAVSON
PHILANTHROPY SCORE: the majority owner of the Atlan-
Her fortune increased by half $5.7 BILLION S SELF-MADE SCORE: @ ta Falcons.
a billion dollars thanks to ris- SOURCE: SELF-STORAGE
ing shares of medical device and AGE: 57 RESIDENCE: LEXINGTON, KY 119. EDWARD ROSKI JR.
equipment maker Stryker Corp., PHILANTHROPY SCORE:
which her grandfather Homer Kentucky’s richest person is the $5.5 BILLION T SELF-MADE SCORE: %
founded. The only family member SOURCE: REAL ESTATE
largest shareholder of self-stor-
to sit on the Stryker board, she is AGE: 80 RESIDENCE: LOS ANGELES
age company Public Storage, co-
also a director of Michigan bank founded by her father, B. Wayne PHILANTHROPY SCORE:
Greenleaf Trust and an active
Hughes (No. 306). Gustavson Roski served as an officer in the
philanthropist.
started working at Public Stor- U.S. Marine Corps after graduat-
age in her early 20s and was a se- ing from USC in 1962. He served
112. HENRY KRAVIS nior vice president when she left in Vietnam and received two Pur-
to raise her kids in 2003. Her ple Hearts. He joined his father’s
$6 BILLION S SELF-MADE SCORE: * husband is president of Spend- real estate firm Majestic Real-
SOURCE: PRIVATE EQUITY thrift Farm, the horse-breeding ty upon his return in 1966. Today
AGE: 75 RESIDENCE: NEW YORK CITY 100. RALPH LAUREN farm owned by Hughes, home of the company is one of the largest
PHILANTHROPY SCORE: the 2017 Preakness winner, Cloud in the country with more than 78
Kravis and his cofounder George $6.3 BILLION T SELF-MADE Computing. million square feet of mostly in-
SCORE: (
Roberts (No. 108) are in their 43rd dustrial property—warehouses
SOURCE: RALPH LAUREN
year running KKR, which has 118. TOM GORES and retail space.
AGE: 80 RESIDENCE: NEW YORK
grown to over $200 billion in as-
CITY
sets. Kravis and his wife, Marie-Jo- $5.6 BILLION S SELF-MADE SCORE: * 119. ROBERT ROWLING
PHILANTHROPY SCORE:
sée, who have given away an esti- SOURCE: PRIVATE EQUITY
mated $200 million, promised $10 Born Ralph Lifshitz, Lau- AGE: 55 RESIDENCE: BEVERLY HILLS, CA $5.5 BILLION T SELF-MADE SCORE: %
million to help repair Notre-Dame ren’s first job was working PHILANTHROPY SCORE: SOURCE: HOTELS, INVESTMENTS
cathedral after the fire in April. at the department store Al- The Beverly Hills financier is AGE: 66 RESIDENCE: DALLAS
exander’s in high school.
closing in on his largest fund PHILANTHROPY SCORE:
After serving in the U.S.
113. MARTHA INGRAM Army, he sold ties at Brooks yet; his Platinum Equity’s assets Rowling is spending $455 mil-
& FAMILY Brothers before launching under management have soared lion building the Omni Stillwa-
FAIRCHILD ARCHIVE-PENSKE MEDIA-SHUTTERSTOCK
70% since last year to $19.4 bil-
his Polo line of ties in 1967 ter Woods resort on 600 acres
$5.8 BILLION S SELF-MADE SCORE: $ (pictured above). Earli- lion as a result. Gores attributes in Frisco, Texas. In partnership
SOURCE: BOOK DISTRIBUTION, er this year his firm Ralph his talent for business to years with the PGA, which is moving
TRANSPORTATION spent watching his dad, who ran its headquarters there, he’ll build
Lauren, which has $6.3 bil-
AGE: 84 RESIDENCE: NASHVILLE a small corner grocery store in two golf courses. Other projects
lion in sales, became one of
PHILANTHROPY SCORE: 32 major fashion and textile Flint, Michigan, where Gores are under way in Boston and
worked in his youth. Today, he’s Oklahoma City. With his father,
Her late husband, Bronson, found- companies to sign a “fash- pledged $10 million for relief
ed Ingram Industries in 1978. Her ion pact” pledging to re- Reese, Rowling sold most of their
amid the city’s ongoing water oil and gas business for $500 mil-
sons Orrin and John now serve as duce their impact on the en-
crisis. In nearby Detroit, he lion in 1989; seven years later,
CEO and chairman of the $2.5 bil- vironment. In June, Lauren bankrolled a new $90 million he bought Omni Hotels. He also
lion (est. revenue) group, which was bestowed with an hon- headquarters and training center
operates in book distribution and orary knighthood by Prince owns Gold’s Gym. He donated 20
manufacturing, digital storage and Charles, a first for an Ameri- for the NBA’s Pistons, which he acres in Dallas for the construc-
acquired from Platinum inves- tion of a new Salvation Army
marine transportation. can designer.
tors in 2015. center.

O C T O B E R 3 1 , 2 0 1 9 F O R B E S . C O M

• B E G I N N I N G S •
119. DAVID SUN Son James is the frequently vili-
fied CEO of MSG, which owns the
$5.5 BILLION S SELF-MADE SCORE: ) New York Knicks. Dolan served in
SOURCE: COMPUTER HARDWARE the U.S. Air Force and briefly stud-
AGE: 68 RESIDENCE: IRVINE, CA ied at John Carroll University be-
PHILANTHROPY SCORE: fore dropping out to create sports
newsreels for local stations out of
119. JOHN TU his house.

$5.5 BILLION S SELF-MADE SCORE: ( 125. BRUCE KOVNER
SOURCE: COMPUTER HARDWARE
144 AGE: 78 RESIDENCE: ROLLING HILLS, $5.3 BILLION S SELF-MADE SCORE: (
CA
SOURCE: HEDGE FUNDS
PHILANTHROPY SCORE: AGE: 74 RESIDENCE: NEW YORK CITY
T Before becoming billionaires, Tu
S PHILANTHROPY SCORE:
I and Sun were immigrants from
L Kovner worked as a New York City
Taiwan, with Tu scraping by run-
E cab driver before founding Caxton
H ning a one-man gift shop with im- Associates, a global macro hedge
T ported Chinese collectibles. The
fund that he ran for 28 years. He
two met in a basketball league in retired in 2011.
the 1980s and founded a comput-
er-memory company that pros-
pered until the 1987 stock-market 127. RAY LEE HUNT
crash. Undeterred, the pair start-
$5.2 BILLION T SELF-MADE SCORE: %
ed computer-products firm Kings-
SOURCE: OIL, REAL ESTATE
ton Technology in October 1987. AGE: 76 RESIDENCE: DALLAS
Today, Kingston generates $7.5 bil-
PHILANTHROPY SCORE:
lion in revenue.
Hunt started out in the oil in-
dustry in 1958 as a summer em-
119. SAM ZELL ployee on the oilfields owned 100. DENNIS WASHINGTON
by his father, the wildcatter
$5.5 BILLION T SELF-MADE SCORE: *
SOURCE: REAL ESTATE, PRIVATE H.L. Hunt. Hunt Oil has oper- $6.3 BILLION S SELF-MADE SCORE: )
ations in Texas and Peru, while SOURCE: CONSTRUCTION, MINING
EQUITY
AGE: 78 RESIDENCE: CHICAGO its ventures in Yemen have been AGE: 85 RESIDENCE: MISSOULA, MT
shuttered since April 2015 due
PHILANTHROPY SCORE: PHILANTHROPY SCORE:
to the country’s ongoing civil
The real estate kingpin got his In October 2018, Washington’s newly acquired mining outfit Domin-
war. Hunt cashed out on his in-
first taste of the industry as ion Diamond unearthed a 552-carat yellow diamond 135 miles south
vestment in the publicly traded
a sophomore at the Universi- electricity operator InfraREIT of the Arctic Circle, the largest ever found in North America. That
ty of Michigan, where he man- same month his 332-foot yacht Attessa IV collided with a commer-
when Oncor acquired it for $1.3
aged a 15-unit student apart- cial fishing boat, causing one death and several injuries. The indus-
billion in May, earning him
ment building in exchange for nearly $330 million. trialist, whose holdings include a railroad and a copper mine, bagged
a free room. By the time he fin- groceries and shined shoes as an adolescent and by age 15 was work-
ished law school in 1966, he ing construction jobs. From age 17 to 19, he operated machinery
owned more than a dozen prop- 128. TED LERNER & FAMILY in Ketchikan, Alaska, where the above photograph was taken.
erties. Zell went on to build Eq- He started his Washington Cos. in 1964 with a $30,000 loan and a
$5.1 BILLION S SELF-MADE SCORE: (
uity Residential, one of the na- leased tractor.
SOURCE: REAL ESTATE
tion’s largest publicly traded
AGE: 94 RESIDENCE: CHEVY CHASE, MD
apartment REITs, along with an
PHILANTHROPY SCORE:
office empire he sold for $39 bil-
lion in 2007. During law school, Lerner sold to lead Cargill, the $113.5 billion on the streets of Brooklyn. He
real estate on weekends to help (sales) agricultural giant. He took those skills into running
125. CHARLES DOLAN support his widowed mother was CEO from 1976 to 1995. In Odd Lot Trading, which sold
August the company announced
discounted merchandise un-
and younger siblings. Unfulfilled
& FAMILY as a lawyer, he borrowed $250 that it was partnering with the loaded by manufacturers and
from his wife, Annette, in 1952 to University of Illinois at Urbana- other retailers. He later in-
$5.3 BILLION T SELF-MADE SCORE: ( start selling houses for a build- Champaign to open an innova- vested in a number of bank-
SOURCE: CABLE TELEVISION er. Over six years he sold 22,000 tion lab focused on using tech- rupt companies—including,
AGE: 93 RESIDENCE: OYSTER BAY, NY nology to modernize the global eventually, comic book com-
homes and decided to try his
PHILANTHROPY SCORE: hand at development. Today his food system. MacMillan owns pany Marvel, which he bought
Dolan sold Cablevision for $17.7 Lerner Enterprises is one of the an estimated 11% of the com- in 1998. Perlmutter revived
billion to Altice in 2016, but the largest owners of real estate in pany. the company with movies like
broadcast billionaire, along with the Washington, D.C., area. Spiderman, The Hulk and
his wife, Helen, and their six chil- 128. ISAAC PERLMUTTER Iron Man before selling it to
dren, still owns controlling stakes 128. WHITNEY MACMILLAN Disney for $4 billion in 2009.
in Madison Square Garden Co. $5.1 BILLION S SELF-MADE SCORE: ) He remains chairman of Mar-
and AMC Networks. A lawsuit $5.1 BILLION T SELF-MADE SCORE: @ SOURCE: MARVEL COMICS vel but is not involved in the
filed by the Dolan family against SOURCE: CARGILL AGE: 76 RESIDENCE: PALM BEACH, FL movie side of the business,
Altice for allegedly ignoring prom- AGE: 90 RESIDENCE: VERO BEACH, FL PHILANTHROPY SCORE: which won big this year with
ises of the merger agreement and PHILANTHROPY SCORE: An Israeli immigrant, Perl- Avengers: Endgame, the high-
equitable fraud, which Altice de- MacMillan was the last member mutter came to America with est-grossing film of all time,
nied, was settled in September. of the Cargill-MacMillan family $250 in 1967 and peddled toys at $2.8 billion.


O C T O B E R 3 1 , 2 0 1 9
F O R B E S . C O M
WEALTH INHERITED VS. SELF-MADE CHANGE IN WEALTH KEY: S UP T DOWN SIGNATORY OF THE PHILANTHROPY SCORE
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• B E G I N N I N G S •
131. JEFF SKOLL 131. DIRK ZIFF 140. CHARLES B. JOHNSON


$5 BILLION S SELF-MADE SCORE: ^ $5 BILLION S SELF-MADE SCORE: $ $4.9 BILLION T SELF-MADE SCORE: %
SOURCE: EBAY SOURCE: INVESTMENTS SOURCE: MONEY MANAGEMENT
AGE: 54 RESIDENCE: PALO ALTO, CA AGE: 55 RESIDENCE: NORTH PALM AGE: 86 RESIDENCE: PALM BEACH, FL
BEACH, FL
PHILANTHROPY SCORE: PHILANTHROPY SCORE:
His Participant Media backed PHILANTHROPY SCORE: Johnson became CEO of Frank-
several notable productions re- lin Resources, the investment
leased this year, including docu- 131. ROBERT ZIFF management firm founded
mentary American Factory, about by his father, at age 24. Re-
$5 BILLION S SELF-MADE SCORE: $
a glass factory opened by a Chi- tired since 2013, he is its larg-
146 SOURCE: INVESTMENTS
nese billionaire in Ohio (which AGE: 53 RESIDENCE: NEW YORK CITY est shareholder, with just over
Netflix and Barack and Michelle 20%. According to the Yale
PHILANTHROPY SCORE:
Obama acquired at Sundance), Daily News, he waited tables
T In March the media-shy brothers
S and Ava Duvernay’s Netflix se- and played football while at-
I were mentioned in special counsel
L ries When They See Us, about the tending the college on a schol-
Robert Mueller’s report detailing
E wrongly convicted teenagers in arship.
H the Central Park jogger case. Skoll Russian interference in the 2016
T election. According to the report, a
grew up in Montreal; at age 11 he 140. TERRENCE PEGULA
had a paper route and shoveled Russian lawyer met with some of-
snow. At 12, he sold door-to-door ficials from the Trump campaign $4.9 BILLION S SELF-MADE SCORE: (
131. ROCCO COMMISSO for Amway. He made his fortune in June 2016 and alleged that the SOURCE: NATURAL GAS
Ziffs engaged in tax evasion and
as the first president of online AGE: 68 RESIDENCE: BOCA RATON, FL
$5 BILLION S money laundering in Russia. The
SELF-MADE SCORE: ) auction firm eBay. PHILANTHROPY SCORE:
SOURCE: TELECOM profits, the lawyer claimed, helped Pegula’s decision to switch col-
AGE: 69 RESIDENCE: SADDLE 131. ROBERT F. SMITH fund either the Democratic Na- lege majors from math to petro-
RIVER, NJ tional Committee or the Clinton
campaign. The report did not offer leum engineering paid off, land-
PHILANTHROPY SCORE: $5 BILLION S SELF-MADE SCORE: * ing him a Getty Oil job after
evidence of the claims; the Ziffs
After failing to acquire AC SOURCE: PRIVATE EQUITY graduation. A decade later, he
AGE: 56 RESIDENCE: AUSTIN, TX declined to comment. Their for-
Milan last summer, Commis- tune stems from their late father’s founded oil producer East Re-
so scooped up Italian football PHILANTHROPY SCORE: publishing empire and was ex- sources, selling most of it to
club Fiorentina for a price re- Smith gave one of the most mem- Royal Dutch Shell in 2010 for
tended through hedge funds.
portedly between $150 mil- orable commencement speeches $4.7 billion. The Buffalo Bills,
lion and $200 million. Com- of all time in May at the all-male, which he bought in 2014, are re-
misso immigrated to the U.S. historically black Morehouse Col- 140. ROBERT BASS portedly exploring plans to build
from Italy at age 12; his first lege. He vowed to wipe out all the a new stadium.
$4.9 BILLION T SELF-MADE SCORE: $
job in his new country was student debt of the class of 2019, SOURCE: OIL, INVESTMENTS
playing the accordion dur- an estimated $30 million. The na- AGE: 71 RESIDENCE: FORT WORTH, TX 144. LEONARD STERN
ing movie theater intermis- tion’s wealthiest African Amer-
PHILANTHROPY SCORE:
sions in the Bronx. He later ican, Smith is founder of Vista $4.8 BILLION WX
Bass has invested millions in su-
got a scholarship to Columbia Equity Partners, a private equi- SELF-MADE SCORE: %
University, where he played ty firm that exclusively invests personic-private-jet startup SOURCE: REAL ESTATE
Aerion, which in February attract- AGE: 81 RESIDENCE: NEW YORK CITY
soccer. After working in the in enterprise software deals and
ed a “significant” investment from
cable industry for years, he manages $50 billion. In high PHILANTHROPY SCORE:
founded cable firm Media- school, Smith got an internship at Boeing. The jet, which will be sold Stern’s Hartz Mountain owns
com, the main source of his the Denver branch of Bell Labora- for $120 million, promises to zip over 260 properties, many in
people from New York to London
fortune. tories after persistent cold calling. northern New Jersey. Plans for an
in four hours, but the first flight apartment development in Wee-
is not expected to happen before
131. HARRY STINE 2025. Bass has been an investor hawken have reportedly stalled in
the township’s planning commit-
131. KAREN PRITZKER $5 BILLION S SELF-MADE SCORE: ) ever since he and his three broth- tee. Stern worked for his father’s
SOURCE: AGRICULTURE ers inherited a small fortune from pet-supply business, which Stern
$5 BILLION T SELF-MADE SCORE: # AGE: 77 RESIDENCE: ADEL, IA their oil tycoon great-uncle more pivoted into real estate after get-
than four decades ago.
SOURCE: HOTELS, INVESTMENTS PHILANTHROPY SCORE: ting an M.B.A.
AGE: 61 RESIDENCE: BRANFORD, CT
Stine says he started farming at
PHILANTHROPY SCORE: 5 years old in Iowa and drove a 140. TILMAN FERTITTA 145. JOHN BROWN
Her father, Robert, ran fami- tractor to pick up straw bales.
ly manufacturing firm Marmon Always scrappy, the young Stine $4.9 BILLION S SELF-MADE SCORE: ( $4.7 BILLION S SELF-MADE SCORE: ^
SOURCE: HOUSTON ROCKETS,
Group. Karen always had a cre- gathered, hulled, dried and sold ENTERTAINMENT SOURCE: MEDICAL EQUIPMENT
ative bent. In the fourth grade, black walnuts to the local grocery AGE: 62 RESIDENCE: HOUSTON AGE: 85 RESIDENCE: ATLANTA
she started a magazine, selling store for five cents a pound. Today PHILANTHROPY SCORE: PHILANTHROPY SCORE:
it to friends on the school bus, his Stine Seed is the nation’s larg- Brown, who ran medical-de-
and she went on to write for est independent seed company. The founder of restaurant and vice manufacturer Stryker Corp.
various publications including entertainment group Landry’s for 32 years, retired a decade ago
Seventeen and Newsday as well 131. DANIEL ZIFF lost a bid for Caesars Entertain- but still owns about 5% of Stryk-
as serve as an editor for Work- ment in June. After a stint as a er stock. He donated $57 million
lifeguard in Galveston, he made
ing Mother from 1980 to 1986. $5 BILLION S SELF-MADE SCORE: $ to his alma mater Auburn in 2015,
Since 2012, she has produced SOURCE: INVESTMENTS his first million at 29 by starting the largest gift in the university’s
three documentary films, two of AGE: 47 RESIDENCE: NEW YORK CITY Landry’s, which now owns Bubba history, but otherwise keeps a low
Gump Shrimp Co., the Rainforest
which were featured at the Sun- profile.
PHILANTHROPY SCORE: Cafe and Golden Nugget casinos.
dance Film Festival.

O C T O B E R 3 1 , 2 0 1 9
F O R B E S . C O M
WEALTH INHERITED VS. SELF-MADE CHANGE IN WEALTH KEY: S UP T DOWN SIGNATORY OF THE PHILANTHROPY SCORE
! @ # $ % ^ & * ( ) WX UNCHANGED Ì NEW TO LIST 3 RETURNEE GIVING PLEDGE