Forbes - USA (October 2019)

PROMOTION
Setting
















The
















Bar












Ensuring



Integrity In Your


Organization










WRITTEN BY BILL MILLAR



In today’s marketplace, a commitment to
integrity is essential for every business.
Not only does it ensure that employees will
uphold organizational values and comply
with the law, but when problems do occur,
many regulatory and enforcement agencies
offer credit if an organization demonstrates
that it has an effective ethics and compliance
program in place.
As a business leader, you may think to
yourself: “My organization has an ethics and
compliance program, so we’re all set.” But is
your company doing enough?
“Most business leaders today believe that
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fostering integrity in the workplace. “Unfortu-
nately, however, our research has shown that
most organizations have not done enough to
truly ensure integrity in their operations.”



1 | ETHICS & COMPLIANCE

PROMOTION


WHAT CAN GO WRONG? • In 2018, the U.S. Securities and THE BENEFITS OF
News headlines indicate that a variety ([FKDQJH &RPPLVVLRQ 6(& ETHICS & COMPLIANCE
of new business risks are surfacing reported that its “whistleblower (&,ŖV UHVHDUFK VKRZV WKDW HWKLFV DQG
daily. And with those risks comes program” had collected over $1.7 compliance programs can help mitigate
the potential for misconduct. In fact, billion in sanctions since its inception. the risk of noncompliance in an organi-
WKURXJK LWV *OREDO %XVLQHVV (WKLFV • In 2018, while the number of corporate zation. Regardless of its size or industry,
6XUYH\ *%(6n ŔD ORQJLWXGLQDO VWXG\ non-prosecution agreements and when an organization establishes a com-
RI ZRUNSODFH HWKLFVŔ(&, IRXQG WKDW deferred prosecution agreements SOLDQFH SURJUDPŔHYHQ LI LWŖV RQO\ IRFXVHG
on average, 47% of employees observe in the U.S. stayed the same, “the RQ UHJXODWRU\ VWDQGDUGV RU WKH ODZŔWKHUH

misconduct each year. Not all of those monetary recoveries skyrocketed to DUH PHDVXUDEOH EHQHŻWV $FFRUGLQJ WR WKH
issues lead to enforcement action, but nearly $8.1 billion,” reported the law *%(6 VXUYH\ HPSOR\HHV DUH

the consequences can be severe when ŻUP *LEVRQ 'XQQ
they do. For example:


• ,Q 7KH )RUHLJQ &RUUXSW 3UDFWLFHV
$FW )&3$ %ORJ UHSRUWHG EDVHG
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reported enforcement actions, that
three companies paid a total of $583
PLOOLRQ WR UHVROYH )&3$ YLRODWLRQV Leaders need to commit to a high
• In 2018, based on the U.K.’s Serious standard of integrity to truly mitigate
)UDXG 2IILFHŖV SXEOLVKHG FDVHV
consultancy.uk reported triple the the risk of wrongdoing.”
number of raids executed in 12
/$55< ' 7+203621
months to gather evidence for
)250(5 '(387< $77251(< *(1(5$/ 8 6 '(3$570(17 2) -867,&(
FULPLQDO LQYHVWLJDWLRQVŔŘKLWWLQJ LWV
highest frequency in six years.”






Healthcare Delivered



From An Ethical Culture



Working to improve the lives and healthcare of the more than 78 Anthem’s core values.
PLOOLRQ SHRSOH $QWKHP VHUYHV WKURXJK LWV DIŻOLDWHG FRPSDQLHV “Anthem’s mission is that

is a role that comes with steep responsibility. And it’s one that we are working to improve
Anthem goes to great lengths to accomplish with care. lives and communities,
“We don’t take lightly at Anthem how critical health plans and simplifying health-
and healthcare are for people,” says Sarah Lorance, Anthem’s care, and expecting more,”
693 DQG FKLHI FRPSOLDQFH RIŻFHU Ř:H HQVXUH HDFK DVVRFLDWH LV Lorance says. “It really is

empowered to do what’s right.” evidence that ethics and
+HDOWKFDUH LV D KLJKO\ UHJXODWHG LQGXVWU\ŔWKHUH DUH ORWV RI compliance have to be a
rules and guidelines in place to protect customers. But there’s a cornerstone in everything
difference between simply following regulations and behaving we do.”
ethically. At Anthem, leaders have taken steps to build a culture There’s third-party evi-
where employees aren’t simply checking boxes, but actively dence, too. In 2018, Anthem SARAH LORANCE

LQFRUSRUDWLQJ HWKLFDO YDOXHV GDLO\ŔLQ WKHLU ZRUN LQWHUDFWLRQV ZDV LQFOXGHG RQ (WKLVSKHUHŖV 693 &KLHI &RPSOLDQFH 2IŻFHU
Anthem
ideas and beyond. FRYHWHG :RUOGŖV 0RVW (WKLFDO
To accomplish this goal, Anthem executives developed a set of &RPSDQLHV OLVW
VWDQGDUGV IRU HWKLFDO EXVLQHVV FRQGXFW DQG WHUPHG LW Ř7KH &RGH ř That recognition was no small honor, but for Lorance, another
Ř,Q ŕ7KH &RGHŖ ZHŖUH SURYLGLQJ FOHDU JXLGHOLQHV IRU ZKDW ZH measure meant even more: A recent internal survey, completed
mean when we say ‘act morally’ and ‘act with integrity,’ and how in partnership with an external partner, reports that Anthem
we carry out our accountabilities in serving our members,” says associates feel they’re part of an ethical culture.
Lorance. “Anthem associates rate our culture of integrity higher than
The expectation for ethical behavior spans every level of the benchmark an external partner provides,” she says. “It’s great
Anthem’s organization. In fact, the company’s mission is built to have external recognition, but equally as important for me is
around doing what’s right, with integrity defined as one of that our internal associates really feel our culture of integrity.”



2 | ETHICS & COMPLIANCE



PROMOTION


• More than two times more likely to 6LQFH (&, KDV ZRUNHG WR IUDPHZRUN WR KHOS RUJDQL]DWLRQV GHŻQH

report suspected wrongdoing to determine the profile and metrics of DQG DFKLHYH VXFFHVV $FFRUGLQJ WR (&,ŖV
management organizations that are highly effective in research, the impact of implementing an
• Almost four times more likely to reducing risk of noncompliance. Through +43 LV GUDPDWLF (PSOR\HHV DUH
express satisfaction with their an extensive effort by an independent
company’s response to their report Ř%OXH 5LEERQ 3DQHO ř DV ZHOO DV UHVHDUFK • 546% more likely to say they work
• More than four times more likely to and the ongoing work of ethics and in a strong ethical culture
say they work in a strong ethical FRPSOLDQFH SUDFWLWLRQHUV (&, HVWDE • 467% more likely to demonstrate
culture OLVKHG LWV ŘKLJK TXDOLW\ SURJUDPř +43 integrity


Ř(YHU\ HIIRUW WKDW D FRPSDQ\ XQGHUWDNHV
makes a difference,” Harned says. Impact of Ethics & Compliance Programs On Employee Observations Of Wrongdoing

#
"
QUALITY MATTERS
2QH GUDZEDFN RI D FRPSOLDQFH SUR
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gram that only complies with the law,
however, is that it doesn’t necessarily &(.
reduce misconduct.
“An organization is not doing enough "
!
if it measures the success of its com- +.
pliance program by its ability to satisfy *).
enforcement or regulatory standards,”
VD\V /DUU\ ' 7KRPSVRQ IRUPHU 8 6
deputy attorney general and chairman %(.
RI WKH (&, Ř/HDGHUV QHHG WR FRPPLW WR *'.
a high standard of integrity to truly miti-
gate the risk of wrongdoing.” " !

"






Otsuka: Seeking The Ideal Formulation



Of Ethics & Compliance



“We are innovators,” says Kabir Nath, $FFRUGLQJ WR 0F*HH 2WVXND WRRN D ELJ
president and CEO of Otsuka North America VWULGH E\ HYROYLQJ LWV WUDLQLQJ DSSURDFK 3UHYL
Pharmaceutical Business, a part of the global ously, the organization’s ethics training included
Otsuka Pharmaceutical group. “Each and a two-hour digital course that staff completed
every one of our people plays an important every year. “Honestly, it was brutal,” she says.
role in providing products that prescribers 1RZ 2WVXND XVHV PRQWKO\ FDPSDLJQV
and patients depend on for improved health IRFXVHG RQ VSHFLŻF LVVXHV GHOLYHULQJ WKUHH WR


and well-being,” he says. “It is vital that we ŻYH PLQXWH WUDLQLQJ YLGHRV ZLWK VXSSOHPHQWDO
exhibit the highest standards both of ethics and materials where needed, as a less overwhelm- JENNIFER MCGEE, ESQ.

compliance throughout the enterprise.” ing and more compelling and customized &KLHI &RPSOLDQFH 2IŻFHU
2WVXND $PHULFD
Making that happen at the company is alternative. According to McGee, this shift to 3KDUPDFHXWLFDO ,QF
everyone’s business, but today efforts are led shorter, more frequent training “doses” is prov-
E\ -HQQLIHU 0F*HH FKLHI FRPSOLDQFH RIIL ing more effective in reinforcing ethical values.
cer. “Any effective compliance program must Though proud of their company’s com-
prevent, detect and deter misconduct,” says pliance-minded culture and controls, both
McGee. But compliance-focused checks and Nath and McGee believe there’s always
balances must in turn be supported by an URRP IRU LPSURYHPHQWŔDQG WKH\ŖOO HPEUDFH
XQZDYHULQJO\ HWKLFDO FXOWXUHŔZLWK D KHDOWK\ the next creative ideas. “I know we have a
dose of innovation. To that end, McGee works good solid foundation,” says Nath. “But we
WR SURPRWH WKH FRPSDQ\ŖV &RGH RI (WKLFV DQG have to recognize there’s always something
3URIHVVLRQDO &RQGXFW SROLFLHV DQG SURFHGXUHV new just over the horizon.”
training, and even its supplier-focused ethics
and compliance programs, by engaging and
KABIR NATH
inspiring staff in new ways.
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2WVXND 1RUWK $PHULFD
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4 | ETHICS & COMPLIANCE

Otsuka America Pharmaceutical, Inc.
Otsuka Pharmaceutical Development & Commercialization, Inc. September 2019 01US19EUC0243

PROMOTION


,QWHJULW\ LQ +43V PHDQV WKDW
employees:

• 'RQŖW EHQG WKH UXOHV
• Feel heard by supervisors
• Believe top management is honest &RPSDQLHV ZRXOG EH ZLVH WR UHYLHZ DQG DGRSW
• Understand core values
• &DQ LGHQWLI\ ULVNV the high-quality program framework for their
• Feel prepared to handle risks internal ethics and compliance efforts.”
• &DQ UDLVH FRQFHUQV
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• Are satisfied with the company’s )250(5 '(387< $77251(< *(1(5$/ 8 6 '(3$570(17 2) -867,&(
response


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help reduce misconduct (see chart on framework for their internal ethics and
SUHYLRXV SDJH 7R YLHZ (&,ŖV UHVHDUFK compliance efforts. It is grounded in
and learn more, visit www.ethics.org. research, affirmed by thought leaders $V D QRQSURŻW GHGLFDWHG WR

and practitioners around the world, and strengthening ethics and compliance
TAKE THE TEST most of all, it has been proven to trans- programs, ECI is giving 2,500
3DXO - 0F1XOW\ IRUPHU 8 6 GHSXW\ form organizational cultures. Through organizations the opportunity to take
DWWRUQH\ JHQHUDO DQG (&, ERDUG PHP WKH +43 (&, KDV PDGH D YLWDO FRQWULEX the HQP assessment at no charge
ber, strongly advises organizations to tion to business.” through the month of November.
measure their ethics and compliance (&, DOVR GHYHORSHG DQ RQOLQH DVVHVV Visit https://www.ethics.org/forbes/.
SURJUDPV DJDLQVW WKH +43 ment tool for businesses interested in
Ř&RPSDQLHV ZRXOG EH ZLVH WR UHYLHZ understanding the quality of their ethics
and adopt the high-quality program and compliance programs.






DXC Technology: Harnessing The Power



Of Values, Culture And Integrity



Much can go wrong within a control environment, and “there value set helps align the
are limits to what internal controls alone can accomplish,” says organization with objectives
Chris DePippo, chief ethics and compliance officer at DXC “across all layers and levels
Technology. Controls may be designed ineffectively or signals without regard for titles or
can be overlooked. Worst-case scenario? Controls can be differences in responsibil-
“circumvented by employees—or more commonly, altogether ity.” Those values, meant
overridden by management intent on abusing their authority.” to “harmonize interactions
ř&XOWXUH LV YHU\ RIWHQ D URRW FDXVH RI PLVFRQGXFW ř 'H3LSSR EHWZHHQ ';& DQG LWV FXV
says. However, companies that invest in values and a culture tomers, business partners
RI LQWHJULW\ XVXDOO\ ŻQG WKHVH LQWDQJLEOHV DUH WKHUH WR ŘEDFNVWRS and competitors,” are cele-

inevitable control failures.” brated among stakeholders as
6R IRU ';& D FXOWXUH RI SHUIRUPDQFH ZLWK LQWHJULW\ŔZKDW the company’s “special sauce.” CHRIS DEPIPPO
&KLHI (WKLFV
'H3LSSR FDOOV WKH ŘLPPXQH V\VWHP RI WKH RUJDQL]DWLRQřŔLV 8OWLPDWHO\ VD\V 'H3LSSR

&RPSOLDQFH 2IŻFHU
HVVHQWLDO Ř$W ';& ZH EHOLHYH WKDW RXU HPEUDFH RI LQWHJULW\ DQG creating and sustaining a cul- ';& 7HFKQRORJ\
YDOXHVŔLQ DOO SODFHV DFURVV WKH JOREHŔEXLOGV D WUXVW DPRQJ ture of integrity in high-pressure
employees, partners, clients and shareholders that secures our EXVLQHVV HQYLURQPHQWV UHTXLUHV FRQVWDQW FDUHŔDQ HIIRUW QRW
future.” XQOLNH ŘNHHSLQJ D JDUGHQ IUHH RI ZHHGV ř ';& LV QR H[FHSWLRQ
';&ŖV HWKLFV DQG FRPSOLDQFH WHDP JRHV WR JUHDW OHQJWKV WR The business must continuously reinforce its values and find
build an awareness among people managers: It’s their respon- innovative ways to engage people managers and their teams.

VLELOLW\ WR VHW WKH WRQH DQG VKDSH FXOWXUH 'H3LSSR H[SODLQHG WKDW %XW IRU 'H3LSSR WKH EHQHŻWV RI WKLV DSSURDFK DUH ZHOO ZRUWK WKH
the effort is to “get managers to recognize that leading teams effort: “When there’s little time to get it right and when risk-taking

brings a ‘higher calling’ and that merely ‘making the number’ or DQG LQQRYDWLRQ DUH UHTXLUHG ZHŖUH FRQŻGHQW RXU YDOXHV DUH WKHUH
‘delivering the milestone’ or ‘keeping the client happy’ are not to inform an employee’s instincts, decisions and actions.”
enough.”
$FFRUGLQJ WR 'H3LSSR WKH FRPSDQ\ EHOLHYHV D ZHOO GHŻQHG


6 | ETHICS & COMPLIANCE

In a time of





change, thrive





with DXC.






That’s our promise. Here’s how


we keep it.


In the era of digital disruption, one thing remains

clear and constant at DXC Technology.



We are committed to promoting a culture
of performance with integrity.


It is the strategic focus of our ethics

and compliance program.









































Learn more about how we conduct business

at dxc.technology/governance

145. STANLEY tember that he would not run evolved into the largest staffing 154. JACK DANGERMOND
for president, citing his frus- firm in the United States, with
DRUCKENMILLER tration with the political sys- 19,000 employees and $13.4 bil- $4.4 BILLION S SELF-MADE SCORE: *
tem and saying that his inde- lion in revenue in 2018. Bisciotti SOURCE: MAPPING SOFTWARE
$4.7 BILLION T SELF-MADE SCORE: *
pendent run would increase also owns the NFL’s Baltimore Ra- AGE: 74 RESIDENCE: REDLANDS, CA
SOURCE: INVESTMENTS
the odds of reelecting Donald vens, worth $2.75 billion. PHILANTHROPY SCORE:
AGE: 66 RESIDENCE: NEW YORK CITY
Trump (No. 275). Last spring his
PHILANTHROPY SCORE: The godfather of digital maps
venture capital firm Maveron— 150. CHASE COLEMAN III started out working at his fa-
In December the former hedge which has invested in Groupon ther’s plant nursery in Red-
fund manager penned a Wall and trendy shoe firm Allbirds— $4.5 BILLION S SELF-MADE SCORE: & lands, California. After high
Street Journal op-ed urging the raised $180 million in its lat- SOURCE: HEDGE FUNDS
154 Federal Reserve to halt its interest- est fund. In June 2018 Schultz AGE: 44 RESIDENCE: NEW YORK CITY school, he and his then girl-
friend and now wife, Laura,
rate increases, which it did. His stepped down as chairman of PHILANTHROPY SCORE: went to Cal Poly, where he stud-
Duquesne Capital Management Starbucks, the coffee chain he
T averaged 30% returns for over a grew from four stores in 1982 A “Tiger Cub” who worked for Ju- ied environmental science and
S lian Robertson’s legendary hedge landscape architecture. In 1968
I quarter century before Drucken- to more than 30,000 locations
L fund outfit Tiger Management, Dangermond worked with a
miller returned outside money in worldwide.
E Coleman founded his own tech in- team at Harvard that developed
H 2010 and formed a family office. vestment firm in 2001. Now his the first computer mapping
T 148. HENRY SAMUELI $30 billion (assets) Tiger Global software. The next year Danger-
145. HOWARD SCHULTZ Management has made early-stage mond moved back to Redlands
$4.6 BILLION S SELF-MADE SCORE: ( investments in companies such as to start Esri. Today the company
$4.7 BILLION S SELF-MADE SCORE: ) SOURCE: SEMICONDUCTORS
Juul, Warby Parker and Glassdoor is worth an estimated $4.4 bil-
SOURCE: STARBUCKS AGE: 65 RESIDENCE: NEWPORT
as well as more traditional hedge lion and its software is used by
AGE: 66 RESIDENCE: SEATTLE BEACH, CA
fund investments like positions in governments, cities and corpo-
PHILANTHROPY SCORE: PHILANTHROPY SCORE: Microsoft and Facebook. He is a rations across the world.
Schultz announced in Sep- Samueli resigned as chief tech- descendant of Peter Stuyvesant, a
nology officer of chipmaker director-general of the Dutch colo- 154. JOSHUA HARRIS
• B E G I N N I N G S • Broadcom in December 2018, ny that became New York.
but he remains chairman of the $4.4 BILLION S SELF-MADE SCORE: *
company he cofounded with 150. WALTER SCOTT JR. SOURCE: PRIVATE EQUITY
Henry Nicholas (No. 179). Sam- AGE: 54 RESIDENCE: NEW YORK CITY
ueli, who owns the Anaheim & FAMILY PHILANTHROPY SCORE:
Ducks hockey team, has bought Harris’ Apollo Global Manage-
land near Anaheim’s Honda $4.5 BILLION WX
SELF-MADE SCORE: & ment, which first made a name
Center, the Ducks’ home. Sam-
SOURCE: UTILITIES, TELECOM for itself by investing in dis-
ueli’s parents were Holocaust
AGE: 88 RESIDENCE: OMAHA tressed debt, is making inroads
survivors; he stocked shelves
PHILANTHROPY SCORE: into media, buying majority in-
at his parents’ Los Angeles li- terests in Cox Enterprises’ radio
quor stores as a teenager in the Scott and old friend Warren Buf- and broadcast television port-
late 1960s. fett teamed up last year to sup-
port a Nebraska initiative to folios. The deals will give Apol-
lo control of over a dozen TV sta-
expand Medicaid in the state, do-
148. SHELDON SOLOW nating $200,000 each to a sup- tions and 60 radio stations. Harris,
who cofounded Apollo in 1990,
131. PAUL TUDOR $4.6 BILLION T SELF-MADE SCORE: ( porting committee called Insure showed his business chops early:
SOURCE: REAL ESTATE the Good Life. Nebraska vot-
JONES II AGE: 91 RESIDENCE: NEW YORK CITY ers approved the expansion in a The Maryland native spent several
state ballot measure in Novem- college summers managing lem-
PHILANTHROPY SCORE:
$5 BILLION S SELF-MADE SCORE: ber 2018. onade stands outside the Smith-
& The New York native was a sonian’s National Zoo and other
SOURCE: HEDGE FUNDS small-time developer before D.C. spots.
AGE: 65 RESIDENCE: PALM erecting 9 West 57th Street in 150. TIM SWEENEY
BEACH, FL 1974. The 49-story office tower, $4.5 BILLION Ì SELF-MADE SCORE: * 154. MITCHELL RALES
PHILANTHROPY SCORE: whose tenants include KKR SOURCE: VIDEO GAMES
and Apollo Global Manage-
Before attaining acclaim as a AGE: 48 RESIDENCE: CARY, NC $4.4 BILLION S SELF-MADE SCORE: &
hedge fund manager, Jones ed- ment, makes up roughly half of PHILANTHROPY SCORE: N.A. SOURCE: MANUFACTURING,
ited the front pages of his fa- Solow’s fortune; he is currently INVESTMENTS
working on a 52-story skyscrap- Over 250 million people, most- AGE: 63 RESIDENCE: POTOMAC, MD
ther’s small business newspa-
er across the street. ly boys ages 10 to 25, have played
per, the Memphis Daily News. PHILANTHROPY SCORE:
his company’s video game Fort-
The macro trader wrote under nite since it launched in July 2017. Big art collectors, Rales and his
the pseudonym Paul Eagle 150. STEPHEN BISCIOTTI It held the finals for its inaugural wife, Emily, bought Lee Krasner’s
while in high school and col- Fortnite World Cup in July at New The Eye Is the First Circle (1960)
lege. He then made his first $4.5 BILLION S SELF-MADE SCORE: * York City’s Arthur Ashe Stadium, for $11.7 million in May. It is out
million trading cotton futures, SOURCE: STAFFING, BALTIMORE on tour until 2021, at which time
RAVENS where finalists competed for more
before opening Tudor Invest- it will be put on display at their
AGE: 59 RESIDENCE: MILLERSVILLE, MD than $30 million in prize money.
ment Corp.’s first office (where A 16-year-old took home the top Glenstone Museum in Potomac,
he’s pictured) in 1980. Jones, PHILANTHROPY SCORE: prize of $3 million. In 2018, Epic Maryland. They have donated
who cofounded anti-poverty Bisciotti worked in the staffing in- raised $1.25 billion from firms in- more than $1 billion to the mu-
group Robin Hood Foundation, dustry for a year right out of col- cluding KKR, Kleiner Perkins and seum’s private foundation. Rales’
helped launch wildlife conser- lege before starting Allegis Group, Vulcan Capital. Sweeney found- fortune comes from the industrial
vation nonprofit African Com- then called Aerotek, in 1983 with ed the company in 1991 in his par- firm Danaher, which he cofound-
munity & Conservation Foun- his cousin Jim Davis (No. 85). ents’ house, developing and releas- ed with his brother Steven (No. 82)
dation last November. What started in a basement has in 1983; he still sits on the board.
ing his game ZZT at age 21.

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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international disaster relief.

• B E G I N N I N G S •
solved the issue. Jacobs has begun cess with its nondairy whipped
handing ownership of the Boston cream. Today it sells cakes,
Bruins hockey team and Delaware icings and pizza dough. Rich
North to his six children. has served as chairman of the
$3.9 billion (sales) company
159. JANE LAUDER since 2006.

$4.3 BILLION S SELF-MADE SCORE: $ 159. ALEJANDRO SANTO
SOURCE: ESTÉE LAUDER
AGE: 46 RESIDENCE: NEW YORK CITY DOMINGO
PHILANTHROPY SCORE: N.A.
156 The daughter of Ronald Laud- $4.3 BILLION S SELF-MADE SCORE: #
SOURCE: BEER
er (No. 159) started her career AGE: 42 RESIDENCE: NEW YORK CITY
at Clinique, the Estée Laud-
T PHILANTHROPY SCORE:
S er brand her father has head-
I ed as chairman since 1994.
L 159. ANDRES SANTO
After stints with other brands
E
H such as Origins, she returned to DOMINGO
T
Clinique and was named Global
Brand President in 2014. $4.3 BILLION S SELF-MADE SCORE: #
SOURCE: BEER
AGE: 41 RESIDENCE: NEW YORK CITY
159. DAVID FILO 159. RONALD LAUDER PHILANTHROPY SCORE:
$4.3 BILLION S SELF-MADE SCORE: % The brothers each hold a 1.75%
$4.3 BILLION T SELF-MADE SCORE: *
SOURCE: ESTÉE LAUDER stake in Anheuser-Busch InBev,
SOURCE: YAHOO
AGE: 75 RESIDENCE: NEW YORK CITY which owns their family’s former
AGE: 53 RESIDENCE: PALO ALTO, CA
Colombian brewer Bavaria. They
PHILANTHROPY SCORE:
PHILANTHROPY SCORE: inherited the stake from their late
The advocacy group that urged
Filo and Jerry Yang (No. 333) dropped out of Stanford’s Ph.D. pro- father. But their paths diverged
gram to start Yahoo in 1994. After plenty of nights at the office in shoppers to avoid SoulCycle and from there. Alejandro, a senior
the early days, they built it into an internet giant, once worth $125 other brands owned by Trump managing director at Quadrant
billion. But that was a long time ago; its core business was sold to supporter Stephen Ross (No. 66) Capital Advisors in New York, pur-
called for a similar boycott of
Verizon for $5 billion in 2016. The rest of Yahoo, notably a stake in chased 20% of Château Pétrus, the
Chinese internet company Alibaba, was renamed Altaba; Filo owns Estée Lauder in August because renowned southern France vine-
a 6% stake. Altaba shareholders voted to liquidate in June, and the of Ron Lauder’s ties to POTUS. yard, in September 2018. Andres
The president of the World Jew-
company plans to sell its remaining Alibaba shares in 2020. cofounded a record label, Kemado,
ish Congress and Estée Lauder and sits on the boards of Conser-
board member gave $100,000 to
vation International and the New
a Trump PAC two years ago and York Public Library.
154. JULIAN recruiter of Victoria’s Secret mod- reportedly showed up at Ross’
els. Epstein’s six-story Manhat- Hamptons fundraiser for Trump.
ROBERTSON JR. tan townhouse, worth $56 million, He has also informally advised the 159. KELCY WARREN

was previously owned by Wexner. White House on Israel. $4.3 BILLION T SELF-MADE SCORE: (
$4.4 BILLION S SELF-MADE SCORE: *
L Brands maintains Epstein was SOURCE: PIPELINES
SOURCE: HEDGE FUNDS
never an employee; it says it has 159. IGOR OLENICOFF AGE: 63 RESIDENCE: DALLAS
AGE: 87 RESIDENCE: LOCUST VALLEY,
hired an outside law firm to re-
NY PHILANTHROPY SCORE:
view the company’s ties with him. $4.3 BILLION S SELF-MADE SCORE: )
PHILANTHROPY SCORE: SOURCE: REAL ESTATE Warren grew up around pipe-
Wexner admitted that he is “em-
Robertson was the stock savant barrassed” by his relationship AGE: 77 RESIDENCE: LIGHTHOUSE lines. When he was young, he
behind Tiger Management— with Epstein. Even before the POINT, FL spent summers as a welder’s
one of the most successful hedge scandal, Victoria’s Secret had been PHILANTHROPY SCORE: assistant. Today the CEO and
funds of the 1980s and ’90s. He losing customers. The Russian immigrant got his chairman of Energy Transfer
shuttered Tiger in 2000 follow- first job after college as an ana- LP oversees more than 86,000
ing heavy losses from the dot-com 159. JEREMY JACOBS SR. lyst for Shell Oil and moonlighted miles of pipelines.
crash, shifting to seeding his pro- as a college math teacher. Today
tégés, the Tiger Cubs. & FAMILY his Olen Properties owns 8.1 mil- 168. BERT BEVERIDGE
lion square feet of office space and
154. LES WEXNER & FAMILY $4.3 BILLION S SELF-MADE SCORE: % 15,662 apartments. $4.2 BILLION S SELF-MADE SCORE: *
SOURCE: FOOD SERVICE
SOURCE: VODKA
AGE: 79 RESIDENCE: EAST AURORA, NY AGE: 57 RESIDENCE: AUSTIN, TX
$4.4 BILLION T SELF-MADE SCORE: * 159. ROBERT RICH JR.
SOURCE: RETAIL PHILANTHROPY SCORE: PHILANTHROPY SCORE: N.A.
AGE: 82 RESIDENCE: NEW ALBANY, OH Jacobs’ concessions giant Dela- $4.3 BILLION T SELF-MADE SCORE: % Beveridge’s company Tito’s
PHILANTHROPY SCORE: ware North and the federal gov- SOURCE: FROZEN FOODS Handmade Vodka is one of the
The CEO of L Brands, which owns ernment settled a long legal fight AGE: 78 RESIDENCE: ISLAMORADA, FL fastest-growing spirits brands in
Victoria’s Secret, made headlines this summer over naming rights PHILANTHROPY SCORE: the U.S. Tito’s sold an estimat-
when former friend and person- at Yosemite National Park. Dela- After college, Rich briefly tried ed 88 million bottles of vodka in
al money manager Jeffrey Ep- ware North lost the contract for his luck in pro hockey, play- 2018, up nearly 40% from 2017.
stein was arrested on charges of Yosemite in 2016 to rival Aramark, ing as the backup goalie for the After graduating from college MERI SIMON-KRT-NEWSCOM
sex trafficking minors in July. Ep- but initially refused to give up Buffalo Bisons in the Ameri- with degrees in geology and
stein, who died by apparent sui- the trademarks for popular ven- can Hockey League. In 1964 he geophysics, he started working
cide in prison in August, alleged- ues. A $12 million payment from joined his dad’s company, Rich in the oil business, including as
ly lured girls by pretending to be a Ara mark and the government re- Products, which had early suc- a well-site geologist.


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



168. NATHAN sold equity at a reported $35 also chairs the board of trust- gust it would sell its food order-
billion valuation, increasing the ees at the University of South- ing platform Caviar to competitor
BLECHARCZYK founders’ net worths by $500 ern California, his alma mater, DoorDash for $410 million. Dor-
million each. The company is which has weathered a string sey, the CEO of both companies, is
$4.2 BILLION S SELF-MADE SCORE: *
expected to go public in 2020. of high-profile crises, including also known for his “wellness” hab-
SOURCE: AIRBNB
Gebbia and Chesky met in col- the Varsity Blues college admis- its—from meditating in a cave in
AGE: 36 RESIDENCE: SAN FRANCISCO
lege at Rhode Island School of sions scandal. Caruso’s daugh- Myanmar to eating only one meal
PHILANTHROPY SCORE:
Design, where Gebbia start- ter (a USC student) was friends a day.
ed his first company: portable with one student who was ad-
168. BRIAN CHESKY foam cushions called CritBuns. mitted to USC after her parents 168. JENSEN HUANG
After moving to San Francisco, allegedly paid a bribe; the two
158 $4.2 BILLION S SELF-MADE SCORE: * the pair, who were struggling women were aboard Caruso’s $4.2 BILLION T SELF-MADE SCORE: *
SOURCE: AIRBNB
to make ends meet, bought an yacht when charges were an- SOURCE: SEMICONDUCTORS
AGE: 38 RESIDENCE: SAN FRANCISCO
air bed for their apartment and nounced in March. AGE: 56 RESIDENCE: LOS ALTOS, CA
PHILANTHROPY SCORE:
T rented it out.
S PHILANTHROPY SCORE:
I
L 168. JOE GEBBIA 168. BARRY DILLER His graphics-chip maker Nvidia

E 168. RICK CARUSO is caught in the crosshairs of the
H $4.2 BILLION S SELF-MADE SCORE: * $4.2 BILLION S SELF-MADE SCORE: ( trade war with China. Nvidia said
T
SOURCE: AIRBNB $4.2 BILLION S SELF-MADE SCORE: & SOURCE: ONLINE MEDIA it would acquire computer net-
AGE: 38 RESIDENCE: SAN FRANCISCO SOURCE: REAL ESTATE AGE: 77 RESIDENCE: NEW YORK CITY working firm Mellanox Technolo-
AGE: 60 RESIDENCE: LOS ANGELES
PHILANTHROPY SCORE: PHILANTHROPY SCORE: gies in March for $6.9 billion, but
Airbnb’s trio of cofounders con- PHILANTHROPY SCORE: Diller’s first job was working the deal is pending approval from
tinue to push their home-shar- The man behind Los Angeles’ in the mailroom at the William China, where both companies
ing platform into hotels and popular outdoor shopping mall Morris Agency when he was 19. have a significant customer base.
bed-and-breakfasts as the com- The Grove opened his first hotel Today he oversees media and Its shares were hit last year by
pany tries to attract a wider in March. Rooms at the Rose- dating app conglomerate IAC trade war worries but have been
range of hosts and guests. In wood Miramar Beach Resort and online travel giant Expedia. rebounding. Huang, a Taiwanese
March, Airbnb acquired book- in Montecito, California, start Longtime New Yorker is build- immigrant, waited tables at Den-
ing startup HotelTonight and at a lofty $825 a night. Caruso ing Pier 55—nicknamed Diller Is- ny’s as a high school student and
land—a park and performance says the experience helped him
venue in the Hudson River slat- overcome his shyness.
ed to open in 2021.
• B E G I N N I N G S •
168. JOHN PAULSON
168. DAGMAR DOLBY
$4.2 BILLION T SELF-MADE SCORE: (
& FAMILY SOURCE: HEDGE FUNDS
AGE: 63 RESIDENCE: NEW YORK
$4.2 BILLION T SELF-MADE SCORE: !
PHILANTHROPY SCORE:
SOURCE: DOLBY LABORATORIES
AGE: 78 RESIDENCE: SAN FRANCISCO The arbitrageur famed for his
“big short” of the U.S. subprime
PHILANTHROPY SCORE:

market before the 2008 financial
In September 2018, Dolby donated crisis was once the 17th-rich-
$20 million to UC San Francisco est American. But he has stum-
to establish the Dolby Family Cen-
bled in recent years on ill-fated
ter for Mood Disorders. She has
bets such as one on the consol-
also supported the Academy Foun- idation of the healthcare indus-
dation to fund the construction of
try. His hedge fund firm Paulson
the Academy Museum of Motion
& Co. lost most of its outside in-
Pictures in Los Angeles. A German
vestors and now largely manages
native, she met her late husband, his personal fortune plus nearly
Ray, in 1962 while studying in a $2 billion in his foundation. He
summer language program in the
recently moved his downsized
U.K. Three years later he founded firm into the Manhattan offices
the audio-equipment maker Dolby of piano maker Steinway & Sons,
Laboratories that made them rich.
which he owns.
179. NEAL BLUE & FAMILY
168. JACK DORSEY 168. MARGOT
$4.1 BILLION Ì SELF-MADE SCORE: &
SOURCE: DEFENSE $4.2 BILLION T SELF-MADE SCORE: * BIRMINGHAM PEROT
AGE: 84 RESIDENCE: SAN DIEGO SOURCE: TWITTER, SQUARE
AGE: 42 RESIDENCE: SAN FRANCISCO $4.2 BILLION Ì SELF-MADE SCORE: !
PHILANTHROPY SCORE: N.A.
PHILANTHROPY SCORE: SOURCE: COMPUTER SERVICES,
Blue is chairman and CEO of $2.7 billion (est. sales) defense com- REAL ESTATE
pany General Atomics. The company is best known as the manufac- A licensed massage therapist, AGE: 85 RESIDENCE: DALLAS JAMES BURKE-THE LIFE PICTURE COLLECTION-GETTY IMAGES
Dorsey wrote dispatch software
turer of the Predator drone, which was one of the first drones to fly PHILANTHROPY SCORE:
over Afghanistan after 9/11. He and his brother Linden bought GA for ambulances and cop cars be-
when it was a nuclear energy company in 1986. Three decades earlier fore cofounding two now pub- Her late husband, tech pioneer
Neil (left) and Linden (right), who are looking at a map of South licly traded companies: online and presidential candidate H.
payments firm Square and so- Ross Perot, died in July at 89 after
America in this photo, raised $3,000 to fly a single-propeller Piper
aircraft around the continent. The feat landed them on the cover cial media firecracker Twitter. battling leukemia. She met him on
of Life magazine. Neal Blue later served in the U.S. Air Force as a Square, whose stock dropped in a blind date while he was a stu-
nuclear weapons custodian. the past year, announced in Au- dent at the U.S. Naval Academy.


O C T O B E R 3 1 , 2 0 1 9
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! @ # $ % ^ & * ( ) WX UNCHANGED Ì NEW TO LIST 3 RETURNEE GIVING PLEDGE

• B E G I N N I N G S •

179. MARK CUBAN 179. ERIC SMIDT film production company Impera-
tive released Friedkin’s directorial
$4.1 BILLION S SELF-MADE SCORE: * $4.1 BILLION S SELF-MADE SCORE: ) debut, Lyrebird, and will produce
SOURCE: ONLINE MEDIA SOURCE: HARDWARE STORES Martin Scorsese’s The Killer of the
AGE: 61 RESIDENCE: DALLAS AGE: 59 RESIDENCE: BEVERLY HILLS, CA Flower Moon. He owns hotels in
PHILANTHROPY SCORE: PHILANTHROPY SCORE: Aspen and Los Cabos and a luxury
conservation lodge in Tanzania.
In September Cuban sold part With his dad, Smidt started Har-
of his stake in HDNet, the par- bor Freight Tools as a teenager.
ent company of AXS TV and He and his father (d. 2016) had a 187. RUPERT JOHNSON JR.
HDNet Movies, for an undis- falling out that left Smidt as sole
closed sum. In December he owner and CEO of the now $4.7 $4 BILLION T SELF-MADE SCORE: $
and his business partner Todd billion (revenues) home improve- SOURCE: MONEY MANAGEMENT 159
AGE: 79 RESIDENCE: BURLINGAME, CA
Wagner sold cinema chain ment retailer.
Landmark Theatres to real es- PHILANTHROPY SCORE:
tate magnate Charles Cohen 187. JERRY SPEYER 179. JEFF SUTTON Johnson Jr. is vice chairman of in- T
(No. 239). The Shark Tank star vestment firm Franklin Resources, E
H
founded video portal Broadcast. $4 BILLION WX $4.1 BILLION T SELF-MADE SCORE: * founded by his father Rupert H.
F
com with fellow Indiana Univer- SELF-MADE SCORE: * SOURCE: REAL ESTATE Johnson Sr. in 1947. O
sity alum Wagner in 1995 and SOURCE: REAL ESTATE AGE: 59 RESIDENCE: NEW YORK CITY R
B
sold it to Yahoo for $5.7 billion AGE: 79 RESIDENCE: NEW YORK PHILANTHROPY SCORE: 187. KEN LANGONE E
CITY S
in stock in 1999. He bought the The retail maven, who got his
Dallas Mavericks for $280 mil- PHILANTHROPY SCORE: start by buying and leasing a store $4 BILLION S SELF-MADE SCORE: ( 4
0
lion in 2000; today it is worth Tishman Speyer—which SOURCE: INVESTMENTS 0
to Payless Shoesource, hit anoth-
nearly $2.3 billion. At 12, Cuban Speyer started in 1978 and is er home run when Puma opened AGE: 84 RESIDENCE: SANDS POINT, NY
sold garbage bags door-to-door now run by his son Rob—is its first North American flag- PHILANTHROPY SCORE:
after his dad wouldn’t give him known for redeveloping icon- ship in his former American Girl A devout Catholic, Langone donat-
money to buy new sneakers. ic places like Manhattan’s store in August. The two-floor, ed $100,000 to restoration efforts
Rockefeller Center, the Chrys- 18,000-square-foot Manhattan lo- at Notre-Dame cathedral in Paris,
179. RICHARD LEFRAK ler Building and Yankee Sta- cation sits just a few blocks south which was severely damaged by
dium. The company has prop-
& FAMILY erties and offices around the of his six-floor, 68,000-square- fire in April. Since pledging $100
foot Nike shop, which launched
million to the NYU School of Med-
world. It entered Europe in icine in August 2018 to help stu-
$4.1 BILLION T SELF-MADE SCORE: % 1988 when it started work on last November after Sutton lured
SOURCE: REAL ESTATE the MesseTurm (Fair Tower) the sportswear giant from its old dents attend tuition-free, the per-
AGE: 74 RESIDENCE: NEW YORK CITY Trump-owned home. centage of minority applicants has
in Frankfurt, Germany, the
PHILANTHROPY SCORE: model of which is pictured, more than doubled, the school
said. As an investment banker he
As an owner of many rent-sta- with Speyer behind it to the 179. STEVEN UDVAR-HAZY
helped take many companies pub-
bilized apartments in New right. It also owns properties lic, including Home Depot, a deal
York City, LeFrak took a hit in in Brazil, China and India. $4.1 BILLION S SELF-MADE SCORE: ( that eventually catapulted him
SOURCE: AIRCRAFT LEASING
June when lawmakers in Al-
AGE: 73 RESIDENCE: BEVERLY HILLS, CA into the billionaire ranks.
bany passed a bill making it
PHILANTHROPY SCORE:
harder for certain landlords to
raise rents. Richard, who has Udvar-Hazy grew up in Buda- 187. JANICE MCNAIR
been CEO of the LeFrak Orga- lows Nicholas to avoid prison pest, Hungary; in 1958, after the
nization since 2003, took over in exchange for drug counsel- failed revolution, his family fled $4 BILLION Ì SELF-MADE SCORE: @
SOURCE: ENERGY, SPORTS
from his late father, Sam, who ing and a reported $500,000 to Stockholm and later New York AGE: 83 RESIDENCE: HOUSTON
built thousands of rent-regu- donation to Las Vegas treat- City. Two years later, at age 14,
lated apartments in Brooklyn ment programs. He made his he was working in a Manhattan PHILANTHROPY SCORE:
and Queens and acquired land fortune from semiconductor warehouse packing boxes for 30 The South Carolina native owns
across the Hudson River in Jer- firm Broadcom, which he co- cents an hour. He started his first the Houston Texans. Her hus-
sey City. Now he is grooming founded with Henry Samueli airplane leasing firm, Internation- band, and college sweetheart
his sons Harrison and James to (No. 148) in 1991. He left Broad- al Lease Finance Corp., in 1973. whom she married junior year,
take over. com in 2003. He sold it to AIG for $1.3 billion Bob McNair (d. 2018) initial-
in 1990 but stayed on for years ly built a fortune through Cogen
179. HENRY NICHOLAS III 179. SUMNER REDSTONE to help run it. In 2010 he left and Technologies, the power genera-
tion company he founded in the
started a second airplane leas-
$4.1 BILLION S SELF-MADE SCORE: * $4.1 BILLION T SELF-MADE SCORE: % ing firm, Air Lease Corp., which early ’80s and sold to Enron for
SOURCE: SEMICONDUCTORS SOURCE: MEDIA he took public in 2011; he is chair- $1.5 billion in 1999.
AGE: 60 RESIDENCE: NEWPORT AGE: 96 RESIDENCE: BEVERLY HILLS, CA man of the $1.7 billion (revenues)
COAST, CA PHILANTHROPY SCORE: outfit. 187. GWENDOLYN
PHILANTHROPY SCORE: Redstone and his family own 187. DAN FRIEDKIN SONTHEIM MEYER
WOLFRAM BRUECK BY JOCKEL FINK-AP versial plea deal with Nicho- which agreed to merge in Au- $4 BILLION WX SELF-MADE SCORE: $ SOURCE: CARGILL
roughly 80% of the voting
Earlier this year, Nevada pros-
shares in CBS and Viacom,
ecutors agreed to a contro-
$4 BILLION T SELF-MADE SCORE: !
SOURCE: TOYOTA DEALERSHIPS
gust in a $12 billion deal ex-
las, who was arrested in 2018
AGE: 58 RESIDENCE: RANCHO
AGE: 54 RESIDENCE: HOUSTON
pected to close by year end. His
SANTA FE, CA
and charged with five counts
PHILANTHROPY SCORE:
daughter Shari, with whom he
of drug trafficking after police
PHILANTHROPY SCORE:
had previously feuded, is his
Friedkin inherited Gulf States
found large quantities of meth-
Meyer inherited an estimated
heir apparent and soon-to-be
Toyota, the $9 billion (estimat-
amphetamine, heroin, cocaine
7% stake in food and commodity
ed sales) car distributor built by
chairwoman of the new compa-
and psilocin in his Las Vegas
Strip hotel room. The deal al-
daughter of founder W. W. Cargill.
O C T O B E R 3 1 , 2 0 1 9 ny, ViacomCBS. his father, Thomas (d. 2017). His giant Cargill. She is a great-grand-
F O R B E S . C O M

187. THOMAS PRITZKER 195. NEIL BLUHM less glorious jobs elsewhere.” Fish- ity stake in $10.5 billion (est.
er Investments, the money man- sales) cleaning products com-
$4 BILLION T SELF-MADE SCORE: $ $3.9 BILLION T SELF-MADE SCORE: ) agement firm he founded in 1979, pany SC Johnson, founded in
SOURCE: HOTELS, INVESTMENTS SOURCE: REAL ESTATE ended 2018 at $94 billion in as- 1886 by their great-great-grand-
AGE: 69 RESIDENCE: CHICAGO AGE: 81 RESIDENCE: CHICAGO sets, down slightly from 2017. father, Samuel Curtis. H. Fisk is
PHILANTHROPY SCORE: PHILANTHROPY SCORE: chairman and CEO of the com-
Pritzker is the only one of Hyatt Sports betting is now legal in Penn- 195. TOM GOLISANO pany, which in August threat-
Hotels founder Jay Pritzker’s sylvania, which is good news for ened to sue Oklahoma attorney
five children still involved with Bluhm’s Rush Street Gaming, $3.9 BILLION S SELF-MADE SCORE: ( general Mike Hunter for using
the original family business, which houses casinos in Philadel- SOURCE: PAYROLL SERVICES the company’s slogan (“a fami-
AGE: 77 RESIDENCE: NAPLES, FL ly company”) in statements and
serving as executive chairman phia and Pittsburgh. The real es-
160 filings related to the state’s opi-
since 2004. Last October Hyatt tate billionaire has built a diver- PHILANTHROPY SCORE:
oid lawsuit against Johnson &
bought the boutique hotel com- sified portfolio that includes a The founder of Paychex, who
pany Two Roads Hospitality nine-digit art collection, private eq- made a fortune in payroll process- Johnson. The attorney gener-
T al’s office said it would not do
S from Tom’s brother John (No. uity investments and small stakes ing, is publishing his first book,
I it again.
L 333) for $405 million. He is in two Chicago sports teams, the Built, Not Born, early next year. He

E also on the board of his family’s Bulls and the White Sox. The poor retired as CEO of Paychex in 2004
H Pritzker Foundation, which an- grandson of Lithuanian immi- but has been in the news due 195. JOE MANSUETO
T
nounced a $100 million pledge grants, Bluhm sold women’s shoes to his battle with geese. Golisa-
in May for a new school of mo- three days a week in high school, no fought with the town of South $3.9 BILLION S SELF-MADE SCORE: *
lecular engineering at Tom’s earning roughly 75 cents an hour. Bristol, New York, where he has a SOURCE: INVESTMENT RESEARCH
AGE: 63 RESIDENCE: CHICAGO
alma mater, the University of lake house, over the birds, arguing
Chicago. 195. KEN FISHER that the town should either shoo PHILANTHROPY SCORE:
them away or lower his proper- Mansueto bought Chicago’s
187. JON STRYKER $3.9 BILLION S SELF-MADE SCORE: * ty tax bill. After losing the fight in iconic Wrigley building and
SOURCE: MONEY MANAGEMENT May 2018, he took matters into his the 297-unit Belden-Strat-
$4 BILLION S SELF-MADE SCORE: ! AGE: 68 RESIDENCE: CAMAS, WA own hands and installed a noise ford apartment building in
SOURCE: MEDICAL EQUIPMENT PHILANTHROPY SCORE: machine that mimics birds of prey. 2018, spending $360 million
AGE: 61 RESIDENCE: NEW YORK CITY on Windy City real estate. The
In the summer of 1964, a 13-year-
PHILANTHROPY SCORE: old Fisher earned $1.20 an hour 195. THOMAS HAGEN Morningstar founder stepped
Heir to a fortune derived from sawing down oak trees, picking down as CEO in 2016 but is
medical equipment company fruit, weeding and fertilizing in $3.9 BILLION S SELF-MADE SCORE: @ still executive chairman of the
Stryker, he has donated $585 his native San Mateo County, Cal- SOURCE: INSURANCE publicly traded research firm,
AGE: 83 RESIDENCE: ERIE, PA known for its mutual fund re-
million throughout his lifetime. ifornia. “For me then it was glo-
rious,” he recalls. “After that I did PHILANTHROPY SCORE: search and star ratings. Man-
Hagen is chairman of his late fa- sueto’s first job: washing dishes
in the kitchen at a hospital. He
ther-in-law’s company, insurer
• B E G I N N I N G S • later sold soda from his college
Erie Indemnity, where he’s worked
for more than 50 years. dorm and Christmas trees from
a rented lot.
195. H. FISK JOHNSON
195. RUSS WEINER
$3.9 BILLION S SELF-MADE SCORE: #
SOURCE: CLEANING PRODUCTS $3.9 BILLION T SELF-MADE SCORE: *
AGE: 61 RESIDENCE: RACINE, WI SOURCE: ENERGY DRINKS
AGE: 49 RESIDENCE: DELRAY BEACH,
PHILANTHROPY SCORE:
FL
195. S. CURTIS JOHNSON PHILANTHROPY SCORE: N.A.
The Rockstar energy drinks
$3.9 BILLION S SELF-MADE SCORE: ! founder started a yard service
SOURCE: CLEANING PRODUCTS company in his Northern Cal-
AGE: 64 RESIDENCE: RACINE, WI ifornia neighborhood at age 8
PHILANTHROPY SCORE: and worked the drive-thru at
Wendy’s at 15. Weiner got his
195. HELEN JOHNSON- start in the drinks market while
195. JEFF GREENE LEIPOLD working for Skyy Vodka founder
(and his mentor) Maurice Kan-
$3.9 BILLION S SELF-MADE SCORE: ) $3.9 BILLION S SELF-MADE SCORE: # bar. When Kanbar rejected his
SOURCE: REAL ESTATE, INVESTMENTS idea for an energy drink, Weiner
SOURCE: CLEANING PRODUCTS
AGE: 64 RESIDENCE: PALM BEACH, FL used a $50,000 mortgage on his
AGE: 62 RESIDENCE: RACINE, WI
PHILANTHROPY SCORE: Sausalito, California, condo to
PHILANTHROPY SCORE:
Greene has spent hundreds of millions in recent years buying up and launch Rockstar in 2001. He got
developing real estate in Palm Beach County and also in Lower Man- 195. WINIFRED JOHNSON- rich selling his energy drinks in
hattan, where he’s building a high-end residential tower to be com- 16-ounce cans at cheaper pric-
pleted in 2020. He also owns over 2,400 apartments in Los Ange- MARQUART es and says he made his first
les. Greene has been finding ways to make money since he was a kid. $3.9 BILLION S SELF-MADE SCORE: @ million-dollar profit the year
At age 7 he shoveled walks and driveways. At 11 he had an 86-house he started his business. Still
SOURCE: CLEANING PRODUCTS
paper route for the Worcester Telegram & Gazette in Massachusetts. AGE: 60 RESIDENCE: VIRGINIA his near $700 million (est. 2018
Greene is pictured above in Worcester in 1976 on a break from BEACH, VA sales) company remains a dis-
traveling around the country as a circus promoter, a job he held tant competitor to Monster and
PHILANTHROPY SCORE:
for almost three years after college. Red Bull.
The four siblings own a major-

O C T O B E R 3 1 , 2 0 1 9
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195. ANTHONY WOOD 207. JEFFERY HILDEBRAND 207. DOUGLAS LEONE at the time—that led to Sterling
being forced to sell the Los Ange-
$3.9 BILLION Ì SELF-MADE SCORE: * $3.8 BILLION T SELF-MADE SCORE: * $3.8 BILLION WX les Clippers basketball team. His
SOURCE: STREAMING TECHNOLOGY SOURCE: OIL SELF-MADE SCORE: ( wife, Shelly, told ESPN that Ster-
AGE: 53 RESIDENCE: PALO ALTO, CA AGE: 60 RESIDENCE: HOUSTON SOURCE: VENTURE CAPITAL ling now feels like he “fell off a
AGE: 62 RESIDENCE: ATHERTON, CA
PHILANTHROPY SCORE: PHILANTHROPY SCORE: tree and . . . landed on a pile of
PHILANTHROPY SCORE: N.A. gold.”
The Roku CEO had a banner Already the nation’s top oil pro-
year; shares of the hardware ducing company, Hildebrand’s Leone oversees the global strategy
and streaming service compa- Hilcorp Energy announced in of Sequoia Capital, whose recent 217. DAVID BONDERMAN
ny he founded have quintupled August that it is buying BP’s as- exits include the IPOs of Zoom
since January. Wood, a serial en- sets in Alaska. The $5.6 billion and Medallia. Not bad for a one- $3.7 BILLION S SELF-MADE SCORE: & 161
trepreneur, also founded digi- deal includes stakes in Prud- time immigrant who lasted exact- SOURCE: PRIVATE EQUITY
tal video recorder firm Replay- hoe Bay and the Trans Alaska ly two days at his first job collect- AGE: 76 RESIDENCE: FORT WORTH, TX
TV in 1997 and sold it in 2001. Pipeline plus exploration leas- ing golf balls by hand at a driving PHILANTHROPY SCORE: T
He learned to code before high es in the Arctic National Wild- range before moving on. “I spent In March his private equity firm H
school. life Refuge. more money on sodas than I got TPG fired Bill McGlashan, the E

paid,” Leone says. managing partner of its impact F
207. BEN ASHKENAZY 207. MIN KAO & FAMILY fund Rise, for his alleged role O
R
207. JOHN MORRIS in the Varsity Blues college ad- B
$3.8 BILLION T SELF-MADE SCORE: * $3.8 BILLION S SELF-MADE SCORE: * missions bribery scandal. Assets E
S
SOURCE: REAL ESTATE SOURCE: NAVIGATION EQUIPMENT $3.8 BILLION T SELF-MADE SCORE: ( under management are up more
4
AGE: 50 RESIDENCE: NEW YORK CITY AGE: 70 RESIDENCE: LEAWOOD, KS SOURCE: SPORTING GOODS RETAIL than $20 billion, to $108 billion, 0
AGE: 71 RESIDENCE: SPRINGFIELD, MO 0
PHILANTHROPY SCORE: PHILANTHROPY SCORE: according to TPG, which invest-
PHILANTHROPY SCORE: ed in Crunch Fitness and Indi-
The Israeli native bought his Kao is executive chairman of Gar-
first property at 17. His Ash- min, the GPS-device maker he The Bass Pro Shops founder and an beauty company Nykaa in the
kenazy Acquisition now owns cofounded in 1989 with Gary conservationist opened the Won- past year. Bonderman received
shopping centers, luxury shops Burrell (d. June 2019). Prior ders of Wildlife National Museum approval for a new NHL team
and office space from Miami to to Garmin, he did research for and Aquarium in Springfield, Mis- in Seattle, which will begin play
New York, including landmarks NASA and the U.S. Army while souri, built with his $300 million in 2020.
such as Boston’s Faneuil Hall pursuing a master’s and a Ph.D. donation, in 2017. Morris started
and Washington, D.C.’s Union in engineering at the University selling fishing tackle out of his fa- 217. MARIAN ILITCH
Station. of Tennessee. ther’s liquor store in Springfield in
1972. His Bass Pro Shops bought $3.7 BILLION T SELF-MADE SCORE: (
207. JUDY FAULKNER • B E G I N N I N G S • rival Cabela’s in 2017 for $5 billion. SOURCE: LITTLE CAESARS
AGE: 86 RESIDENCE: BINGHAM
207. RICHARD SCHULZE FARMS, MI
$3.8 BILLION S SELF-MADE SCORE: *
SOURCE: HEALTH IT PHILANTHROPY SCORE:
AGE: 76 RESIDENCE: MADISON, WI $3.8 BILLION T SELF-MADE SCORE: * The Michigan native worked at
SOURCE: BEST BUY discount store SS Kresge in Dear-
PHILANTHROPY SCORE:
AGE: 78 RESIDENCE: BONITA SPRINGS, born and then as a Delta reserva-
Her $2.9 billion (revenues) FL
Epic Systems, which she built PHILANTHROPY SCORE: tion clerk in Detroit prior to open-
without outside capital, is ing the first Little Caesars pizza
Schulze worked as a represen- shop with her husband Mike (d.
used to store the records of
tative for an electronics com- 2017) in 1959. The chain is now
250 million patients at medi-
cal centers like Johns Hopkins, ponents manufacturer before worth an estimated $2.9 billion.
opening his stereo equipment The family is spearheading the
the Mayo Clinic and the Cleve-
shop Sound of Music in 1966. development of The District De-
land Clinic.
He grew it into the chain of su- troit, a $1.4 billion project that in-
perstores he renamed Best Buy. cludes new Little Caesars Arena
207. RAKESH GANGWAL He is no longer an executive at and a new headquarters for the
the company but is chairman company.
$3.8 BILLION S SELF-MADE SCORE: * 207. FRED SMITH
SOURCE: AIRLINE emeritus and its largest individ-
AGE: 66 RESIDENCE: MIAMI $3.8 BILLION T ual shareholder. 217. MICHAEL MILKEN
PHILANTHROPY SCORE: N.A. SELF-MADE SCORE: (
SOURCE: FEDEX 207. DONALD STERLING $3.7 BILLION WX
This summer, Gangwal got into a AGE: 75 RESIDENCE: MEMPHIS SELF-MADE SCORE: *
public spat with Rahul Bhatia, his $3.8 BILLION S SELF-MADE SCORE: * SOURCE: INVESTMENTS
PHILANTHROPY SCORE: N.A.
cofounder at IndiGo, India’s larg- SOURCE: REAL ESTATE AGE: 73 RESIDENCE: LOS ANGELES
est airline; each man owns more FedEx is moving into smart AGE: 85 RESIDENCE: BEVERLY HILLS, CA PHILANTHROPY SCORE:
than a third of the budget air- sensors that’ll help to better PHILANTHROPY SCORE: The former financier runs the
line. In July, Gangwal complained track packages. Smith (pic- Milken Institute, known for its an-
to India’s stock market regulator tured in a July 1980 photo) Sterling was a trial lawyer before nual Beverly Hills conference. The
about certain business deals be- is still CEO and chairman of pivoting to real estate in 1963, theme of this year’s conference—
tween IndiGo and Bhatia’s other the package-delivery compa- buying a West Hollywood apart- “Driving Shared Prosperity”—nod-
BETTMANN-GETTY IMAGES 15 years, responded that an inde- He overcame a rare bone dis- tion and, in 2018, was accused of wealth inequality. The Milken In-
ment house. He has been lambast-
ny and owns over 7% of it.
companies. Bhatia, his partner for
ded to growing concerns about
ed for alleged housing discrimina-
Smith has come a long way.
pendent review found “no sub-
stitute is also building the Cen-
unfairly attempting to evict vet-
ease as a child and learned to
stantive irregularities.” Gang-
ter for Advancing the American
erans. In August ESPN released
fly at 15. Smith hatched the
wal started his airline career with
Dream—across from the White
a five-part podcast series revisit-
idea for FedEx as part of a
United Airlines in 1984 and went
on to become CEO of US Airways
open in 2022.
remarks he made to his mistress
Group. term paper at Yale in 1965. ing the scandal—involving racist House in Washington. It’s slated to
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 •
217. TREVOR REES-JONES Together they’ve raised $1 bil- towns in Ohio, promising better
lion in investment, sold $100 reception. In 1996, he sold his
$3.7 BILLION T SELF-MADE SCORE: & million in upfront ad revenue Continental Cablevision to US
SOURCE: OIL & GAS and attracted filmmakers like West for $11 billion.
AGE: 68 RESIDENCE: DALLAS Sam Raimi and Guillermo del
PHILANTHROPY SCORE: Toro, who have agreed to make 225. JAMES LEPRINO
videos for the new service. In
Hundreds of people attended
ten th grade she was a snack bar $3.6 BILLION T SELF-MADE SCORE: %
the 60th birthday party Rees-
cook at a dude ranch in Wyo- SOURCE: CHEESE
Jones hosted for his wife, Jan,
this summer; Garth Brooks was ming. AGE: 81 RESIDENCE: INDIAN HILLS, CO
the musical guest. Despite a PHILANTHROPY SCORE:
162
downturn in natural gas prices, 225. AUSTEN CARGILL II Leprino started working at his
his Chief Oil & Gas continues to father’s grocery store full-time
frack in the Marcellus shale of $3.6 BILLION T SELF-MADE SCORE: ! after graduating high school in
T SOURCE: CARGILL
S Pennsylvania. 1956. The arrival of larger, chain
I AGE: 68 RESIDENCE: LIVINGSTON, MT
L grocery stores drove them out of
PHILANTHROPY SCORE:
E 217. GARY ROLLINS business two years later. Leprino
H noticed how much time his class-
T
225. JONATHAN GRAY $3.7 BILLION T SELF-MADE SCORE: # 225. JAMES CARGILL II mates spent in neighborhood
SOURCE: PEST CONTROL pizzerias and decided to focus
$3.6 BILLION S AGE: 75 RESIDENCE: ATLANTA $3.6 BILLION T SELF-MADE SCORE: ! on mozzarella. He opened his
SELF-MADE SCORE: ^ SOURCE: CARGILL
PHILANTHROPY SCORE: new cheese business with $615.
SOURCE: INVESTMENTS AGE: 70 RESIDENCE: BIRCHWOOD, WI
AGE: 49 RESIDENCE: NEW YORK The vice chairman and CEO of PHILANTHROPY SCORE: Today $3.5 billion (est. sales) Le-
CITY Atlanta pest-control conglomer- prino Foods is the world’s largest
PHILANTHROPY SCORE: ate Rollins Inc., he runs 225. MARIANNE LIEBMANN maker of mozzarella and the ex-
the company alongside his clusive cheese supplier for Domi-
He got his start busing ta- $3.6 BILLION T SELF-MADE SCORE: ! no’s and Pizza Hut.
bles for his mom’s cater- brother and chairman Randall
(No. 225). SOURCE: CARGILL
ing business at age 14—in AGE: 66 RESIDENCE: BOZEMAN, MT
this photo, he mugs for 225. RODGER RINEY
the camera with NBA star 217. FRANK VANDERSLOOT PHILANTHROPY SCORE: $3.6 BILLION S SELF-MADE SCORE: &
Oscar Robertson—then The three siblings each inher- SOURCE: DISCOUNT BROKERAGE
worked at UPenn’s rare- $3.7 BILLION T SELF-MADE SCORE: ) ited an estimated 7% stake in AGE: 73 RESIDENCE: ST. LOUIS
SOURCE: NUTRITION, WELLNESS agribusiness giant Cargill. Aus-
books library and checked
PRODUCTS PHILANTHROPY SCORE:
IDs at a dorm. He landed at ten worked at the company as
AGE: 71 RESIDENCE: IDAHO FALLS, ID Soon after college, Riney turned
Blackstone right out of col- a marine biologist and later
lege in 1992, and made a PHILANTHROPY SCORE: an executive, before retiring in down a job at a top engineer-
name for himself through Before VanderSloot built Me- 2001. ing firm to accept a position for
real estate investments. laleuca, the $2 billion (sales) less pay at an investment com-
Now Blackstone’s chief op- wellness product company, he 225. JAY CHAUDHRY pany instead. He later quit and
erating officer, he still over- was a poor college student who moved to Scottsdale, Arizona,
sees its real estate business, cleaned a laundromat three $3.6 BILLION Ì SELF-MADE SCORE: ( where he cofounded the online
which in June agreed to times a day in exchange for a SOURCE: CYBERSECURITY brokerage company Scottrade
purchase $18.7 billion worth tiny bedroom and $50 a month. AGE: 60 RESIDENCE: SARATOGA, CA in 1980. He sold it to Joe Rick-
of logistics assets from Sin- Earlier still, he did small jobs PHILANTHROPY SCORE: N.A. etts’ (No. 333) TD Ameritrade
gapore’s GLP. for neighbors like building fenc- Chaudhry grew up in a tiny vil- for $4 billion in cash and stock
es. Now his state’s sole billion- lage in the Himalayas in India, in 2017, two years after he was
aire, VanderSloot has taken up where there was no electricity diagnosed with the blood cancer
protecting Idahoans against ag- multiple myeloma. He has since
until he was in eighth grade and
gressive medical debt collectors, donated $40 million to Wash-
217. BOBBY MURPHY creating a $500,000 fund in no running water until he was ington University to research
in tenth grade. His first time
April that will go toward, as he the disease and develop treat-
$3.7 BILLION S SELF-MADE SCORE: * on a plane: a one-way flight to
wrote in the East Idaho News, ments for neurodegenerative
SOURCE: SNAP the U.S. to attend the Universi- illnesses.
AGE: 31 RESIDENCE: VENICE, CA “defending people from unscru- ty of Cincinnati in 1980. Before
pulous, unreasonable or unnec-
PHILANTHROPY SCORE: founding cybersecurity software
essary attorney fees.” firm ZScaler in 2008, Chaudhry 225. RANDALL ROLLINS
The fortunes of Murphy and
started four other tech com-
his Snap cofounder Evan Spie- $3.6 BILLION T SELF-MADE SCORE: #
gel (No. 225) each rose by more 217. MEG WHITMAN panies that were all acquired. SOURCE: PEST CONTROL
than $1 billion since last year, ZScaler went public in March AGE: 87 RESIDENCE: ATLANTA
$3.7 BILLION S SELF-MADE SCORE: ^ 2018, and its shares have since
thanks to the turnaround of
SOURCE: EBAY PHILANTHROPY SCORE:
the social media network. The AGE: 63 RESIDENCE: LOS ANGELES doubled; he owns a 46% stake. In February the O. Wayne Rol-
stock has risen by more than
PHILANTHROPY SCORE: lins Foundation, which was
170% since the beginning of 225. AMOS HOSTETTER JR. named after Randall’s late fa-
2019. Snap, which had been los- Whitman led Silicon Val- ther, announced a $65 million
ing daily active users, gained ley giant eBay, where she $3.6 BILLION S SELF-MADE SCORE: & pledge to support the open-
13 million in the last quarter, made most of her fortune, and SOURCE: CABLE TELEVISION ing of a third building at Emory
for a total of 203 million. Mur- Hewlett Packard. Now, she’s AGE: 82 RESIDENCE: BOSTON
gone Hollywood—to Quibi, a University’s Rollins School of
phy, who serves as chief tech- PHILANTHROPY SCORE: Public Health, to be named after
nology officer, met Spiegel when short-form mobile subscription With $1,500 and an M.B.A. from Randall. He is chairman of Rol-
they were fraternity brothers at service that mogul Jeffrey Kat- Harvard, Hostetter started a lins, Inc., known for its pest-
Stanford. zenberg recruited her to run. cable company in two small
control company Orkin.

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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

PROMOTION
PROMOTION
Africa Gets a








New Wallet








INNOVATOR ANDY KHAWAJA LEADS MOBILE PAYMENTS EXPANSION

Editor in Chief Paul Trustfull

MEET ANDY,

THE SIXTEEN BILLION DOLLAR MAN


Andy Khawaja’s smartphone houses I wanted to turn
photos of himself with Barack Obama, into a reality,” he
Larry King, Los Angeles Mayor Eric adds.
Garcetti, and Pope Francis. The founder
and CEO of Allied Wallet speaks five It w a s t oug h
languages, and hob-knobs in Doha and going in the begin-
Hong Kong, Abu Dhabi and Beverly ning, as Khawaja’s
Hills. Friends and clients call him Dr. requests for loans
Andy. With a global perspective and were turned away
network of business experts, this tech by 350 banks. His
innovator is leading his company toward luck changed fol-
promising e-commerce opportunities in lowing a chance
Africa. meeting with an
execut ive f rom
“Africa is the future,” says Khawaja. Deut sche Ba nk
“Investing in the human capital of youth, who agreed to take
creating jobs and helping the mas- a risk and granted
sive 15-to-22-year-old market become Allied Wallet’s first
self-supporting is what I really want to seed loan.
do. Allied Wallet is a powerful tool for
helping young people break out of their The key to suc-
dependency on governments.” cess in the online Former President Bill Clinton and Allied Wallet Founder Andy Khawaja
payments business
ENTREPRENEURIAL PASSION is mastering interrelated issues such as markets where labor costs are low, or
cybersecurity, the banking industry, and growing profits by selling imported goods
Allied Wallet is a leading online pay- the interface between public policy and from China, Khawaja’s Allied Wallet has
ment service provider headquartered in global trade. Khawaja seems adept in all. incorporated a deeper understanding of
Los Angeles. Khawaja has amassed $16B global business. Its NextGen Payment
since creating the company in 2005, and STRATEGY: SHIFT TO ALTERNATIVE Gateway offers what the CEO claims
he expects it to double in size before PAYMENT METHODS is “more alternative payment methods
2025. globally than anyone else.” Allied Wal-
Allied Wallet plans to enter the Afri- let sees e-commerce as a whole, singu-
“From a very young age, I had an can market later this year, starting with lar market with varying nuances. Allied
entrepreneurial spirit in my bones,” says the Portuguese-speaking central Afri- Wallet’s functionality has been extended
Khawaja. “I’ve always been a leader and can nation of Angola, followed by The to embrace the technical requirements
I’ve always had the passion to work hard. Democratic Republic of Congo (DRC) of multicurrency payment systems in
But my first ambition to become a CEO and Rwanda. Commercial activity in 164 countries and takes into account the
came from my thirst for improvement in these markets is largely cash-based, and diversity represented by differing needs
the way people do business,” he recently therefore ripe for a shift to clean and fast of each culture.
told a small group of business leaders. “I electronic transactions.
wanted to create and innovate new meth- This new market will require an
ods for people to safely, securely and sim- While globalization for some com- increasingly growing global payment
ply accept payments. I had a vision that panies has meant manufacturing in network, says Khawaja. It will also need




Emerging Markets
Emerging Markets 1

PROMOTION




a robust digital security environment. Resource Group has already had a
“Allied Wallet already uses a protected constructive and tangible impact on
state-of-the-art system and PCI-DSS government automation and citizen
Level 1 Compliance, as well as SHA- experience in the region, which has
256 SSL encryption. As the ecosystem contributed to digital transforma-
gets larger and the risks increase, so tion in the Middle East and African
will the need to stay five steps ahead.” region. According to Itani, while
obstacles remain for sustaining a
Affordability is essential as well. long-term positive business environ-
The way Khawaja sees it, the price of ment in Africa, “we have been dili-
making secure payments will have to gently working together to mitigate
continue to drop. “With connectivity the challenges that range from the
to third-party features and new pay- underlying technology infrastructure
ment solutions, you’d think that prices to the market landscape.
would climb,” he says. “We’ll continue
to go the other way. We already offer “There is a strong need in these
rates starting at less than 1%. As markets for innovative digital services
N’gunu Tiny, Chairman of Emerald Group Africa’s youth come onboard, the size that can revolutionize access to digi-
of the user base will grow, and Allied tal commerce, improve cashless pay-
Wallet will lead the way with acces- ments and reduce reliance on paper
sible prices.” currency that are in limited supply,”
Itani adds. “Through this partnership,
Khawaja foresees a world in which we hope to fuel these local economies
the consumer experience improves, by empowering their citizens with
where nearly everyone can also reliable, convenient and accessible
become the merchant. “In the very banking solutions.”
near future,” he says, “especially in
Africa, business will be in the hands Khawaja’s business associate,
of the people—the one-woman or Angolan banker and thought leader
one-man enterprise connected to the N’gunu Tiny, calls the business envi-
world, creating wealth with guaran- ronment in Africa dynamic and com-
teed freedom of mobility.” plex. “The continent still lacks basic
structure that many investors would
PARTNERING WITH INDUSTRY not find attractive. The biggest chal-

EXPERTS lenge is to change the mind-set of
investors toward the continent. His-
Hisham Itani, Chairman and CEO of Resource Group Allied Wallet Africa has enlisted torically, investor sentiment toward
partners with insights and expertise Africa has been shaped by the per-
in the African market. Joining Kha- ception of a continent exploited solely
waja are Hisham Itani, Chairman and for its raw materials and a headline
CEO of Resource Group based in Bei- country risk assessment. It is impor-
rut; N’gunu Tiny, Chairman of Emer- tant that the investment community
ald Group based in Luanda, Angola; divorces from the mentality that
Bilal Joueidi, co-founder of Allied Africa is one country, and views it as
Wallet Africa and commercial real 55 separate sovereign nations, with
estate expert based in the UAE; and different governments, diverse econ-
Rwandan business leader Aimable omies open for investment and social
Mpore. constructs.”

“Resource Group is a business Emerald Group brings its unique
incubator and leading technology DevOps technique of organization.
investment group with a portfolio of Development and Operations are
diversified businesses that capitalizes entwined under one roof, enabling
on technology and human talent,” Africa to leapfrog to the forefront of
Khawaja says. The Group has a deep e-commerce while aiming to integrate
understanding of local markets across digital ledger technology (blockchain)
the Middle East and Africa. Its CEO into the mix.Allied Wallet Africa’s
shares Khawaja’s goal of equipping partners are immersed in the Afri-
youth to succeed in the digital era. can market and become crucial to the

Rwandan business leader Aimable Mpore

2 Emerging Markets

PROMOTION











































Founder of Allied Wallet Andy Khawaja and Pope Francis


success of our purpose in the continent, solid foundation to Allied Wallet Africa toward a mobile framework will be
says Khawaja. Bilal Joueidi brings to for future growth. key for the 66% of the population that
Allied Wallet the remains unbanked.
ability to attract “The traditional Western-style branch banking system is not Tiny sees Allied Wal-
foreign capital for let’s role as “a tech-
developing large capable of answering the present African needs. A mobile nology orchestrator.”
scale infrastruc- framework will be key for unbanked populations.”
ture projects such With the recently
as airports, roads and hospitals. Aimable PROMOTING INVESTMENT INSTEAD endorsed single African market expected
Mpore contributes expertise as CEO of OF AID to be one of the world’s largest single
some of the largest mobile companies markets, accounting for $4 trillion in
on the continent. These include Telecel, Allied Wallet believes that Africa does spending and investment across 54 of the
where he introduced the first cellular not need aid, and Tiny agrees. “African 55 countries, Khawaja’s focus is worthy
phone operation in Africa. Together this countries need investments in order to of investor attention, as is the backing of
strong network of partnerships offers a fight poverty and to generate wealth. some of the industry’s forward-thinking
There is an obvious need to invest in heavyweights.
education in order to develop new busi-
ness leaders and provide them with
proper management tools to navigate
the risk scenarios,” he says. His Emer-
ald Group specializes in frontier market
investments with a strong portfolio in

natural resources and finance in Africa.
“Africa will need some 600 million jobs
in the future, and payment tools will be
one way of offering opportunity for self-
reliance to many,” Tiny adds.


The partners concur: In the current
African scenario, if a merchant could
use a mobile device to buy and sell from
and to anywhere in the world, he or she
could immediately become a competitive
global player with local impact. The tra-
ditional Western-style branch banking
system is not capable of answering the Editor in Chief Paul Trustfull and Founder of

Bilal Joueidi, co-founder of Allied Wallet Africa present African needs, and an evolution Allied Wallet Andy Khawaja

Emerging Markets 3

225. MARC ROWAN 225. LYNSI SNYDER users surpassed 200 million and battle spearheaded by activist
the company hit $388 million in investor Daniel Loeb’s (No. 306)
$3.6 BILLION S SELF-MADE SCORE: * $3.6 BILLION S SELF-MADE SCORE: # revenue for the quarter through hedge fund Third Point in Sep-
SOURCE: PRIVATE EQUITY SOURCE: IN-N-OUT BURGER June, up 48% from the prior year. tember 2018. What started as
AGE: 57 RESIDENCE: NEW YORK CITY AGE: 37 RESIDENCE: GLENDORA, CA In December CEO Spiegel donated a campaign to replace the en-
PHILANTHROPY SCORE: PHILANTHROPY SCORE: $33 million worth of stock to the tire board ended in a settlement
Snap Foundation, a nonprofit sup- agreement to add three new
Rowan made news last October At 17, Snyder started working
porting Los Angeles youth; it is board members and give Loeb a
when his alma mater UPenn’s at her family’s In-N-Out Burg-
still in the exploratory stages and say in selecting the next CEO.
Wharton School announced his er, separating lettuce leaves and
$50 million gift. The donation— operating the register at a loca- has not made any grants. In high
Wharton’s largest single gift— tion in Redding, California. Not school, Spiegel promoted Red Bull 239. MICHAEL MORITZ
166 as an intern.
will go to the economic policy long after, her father died and
analysis program. Apollo Global, she became the chain’s sole heir- $3.5 BILLION S SELF-MADE SCORE: *
which he cofounded, manages ess. Over the next decade she re- 239. CHARLES COHEN SOURCE: VENTURE CAPITAL
T AGE: 65 RESIDENCE: SAN FRANCISCO
S over $300 billion in assets and ceived stakes in the company as
I
L is acquiring custom photo ser- part of a complex trust created by $3.5 BILLION S SELF-MADE SCORE: % PHILANTHROPY SCORE:
SOURCE: REAL ESTATE
E vice firms Shutterfly and Snap- her grandparents. She got the last Moritz, a longtime venture cap-
H fish and plans to combine them piece when she turned 35 in 2017 AGE: 67 RESIDENCE: NEW YORK CITY italist at Sequoia, has made re-
T
into one group. and today owns about 97%. As PHILANTHROPY SCORE: cent headlines for his work in
company president, she has over- While the bulk of his fortune— philanthropy. The former jour-
225. JOHN SALL seen careful expansion to Texas high-end office buildings in New nalist and Steve Jobs biogra-
and Oregon followed by Colora- York City and design centers in pher took over support of the
$3.6 BILLION T SELF-MADE SCORE: * do next year. several cities—remains steady, prestigious Booker Prize liter-
SOURCE: SOFTWARE Cohen continues to make eclec- ary award in June as part of a
AGE: 71 RESIDENCE: CARY, NC 225. EVAN SPIEGEL tic investments. In late 2018 he five-year sponsorship through
PHILANTHROPY SCORE: bought movie theater chain Land- his Crankstart foundation. In
Sall cofounded statistical software $3.6 BILLION S SELF-MADE SCORE: * mark Theatres from Mark Cuban August he wrote an op-ed in
firm SAS with James Goodnight SOURCE: SNAP (No. 179) and picked up Manhat- the Financial Times in support
AGE: 29 RESIDENCE: LOS ANGELES tan society magazine Avenue. He of direct listings as an alterna-
(No. 77), in 1976. The graduate stu-
dent met the then professor at PHILANTHROPY SCORE: already owns film producer Mer- tive to traditional IPOs, compar-
chant Ivory, luggage company T. ing investment banks to tick-
North Carolina State University. After a rocky period, Snap is on
an upswing; the number of daily Anthony and designer men’s foot- et scalpers.
wear firm Harrys of London.
239. GABE NEWELL
• B E G I N N I N G S • 239. TRAVIS KALANICK
$3.5 BILLION T SELF-MADE SCORE: *
$3.5 BILLION T SELF-MADE SCORE: * SOURCE: VIDEO GAMES
SOURCE: UBER AGE: 56 RESIDENCE: SEATTLE
AGE: 43 RESIDENCE: LOS ANGELES PHILANTHROPY SCORE: N.A.
PHILANTHROPY SCORE: For years, Newell and his com-
The former Uber CEO watched pany Valve Corp. have domi-
from the sidelines as the company nated online sales of PC games
went public in May. Kalanick’s net through Steam, its digital video
worth is down $2.4 billion since game distribution platform. Fac-
last year, partly because he put ing fresh competition, especial-
about $1 billion of his Uber shares ly from Fortnite creator Epic
into a charitable remainder trust Games, Valve has been forced to
and in part because of Uber’s cut its take on games sold via its
poor stock performance. He platform. Newell dropped out
remains on Uber’s board and is of Harvard to become an early
also CEO of City Storage Systems, Microsoft employee, before co-
which is working to create virtual founding Valve in 1996.
restaurants. In August he
reportedly purchased a $36.5 239. JAY PAUL
million penthouse in New York
City. $3.5 BILLION S SELF-MADE SCORE: *
SOURCE: REAL ESTATE
225. STEVEN SPIELBERG 239. MARY ALICE AGE: 72 RESIDENCE: SAN FRANCISCO
PHILANTHROPY SCORE: N.A.
$3.6 BILLION T SELF-MADE SCORE: * DORRANCE MALONE The Silicon Valley office devel-
SOURCE: MOVIES oper is on a mission to remake
$3.5 BILLION S SELF-MADE SCORE: @
AGE: 72 RESIDENCE: PACIFIC PALISADES, CA San Jose’s skyline, buying up
SOURCE: CAMPBELL SOUP
PHILANTHROPY SCORE: nearly $400 million worth of
AGE: 69 RESIDENCE: COATESVILLE, PA
The three-time Academy Award winner got his first job far away properties in the past year; he
PHILANTHROPY SCORE:
from the movie lots of Hollywood. At 13, he painted the trunks of cit- plans to put up new towers and
The granddaughter of the in-
rus trees in his native Scottsdale, Arizona, to keep them cool in the a sprawling tech campus. His
desert sun. He put that money into buying 8mm film and processing ventor of Campbell’s condensed real estate company also owns UNIVERSAL-GETTY IMAGES
equipment. Fast-forward about 60 years, and his films have grossed soup formula, Malone and her property in San Francisco, San
more than $10 billion worldwide. (Above, he’s on the set of Jaws in brother Bennett Dorrance (No. Diego and Santa Cruz and a
306) remain on the board of
1975.) He’s still making movies; his next turn in the director’s chair vineyard on a 1,134-acre ranch
will be to remake West Side Story. Campbell Soup after a proxy in the Santa Ynez Valley.

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239. ANTHONY PRITZKER too. “They call it socialism, but 250. ALLAN GOLDMAN pensive gubernatorial races in U.S.
it is more accurately described history. He took office as governor
$3.5 BILLION S SELF-MADE SCORE: # as left-wing statism lubricated $3.4 BILLION S SELF-MADE SCORE: $ in January.
SOURCE: HOTELS, INVESTMENTS by showers of free stuff,” Sing- SOURCE: REAL ESTATE
AGE: 58 RESIDENCE: LOS ANGELES er said at a dinner honoring AGE: 76 RESIDENCE: NEW YORK CITY 250. BERNARD SAUL II
PHILANTHROPY SCORE: Betsy DeVos in May, according PHILANTHROPY SCORE:
to CNBC. $3.4 BILLION T SELF-MADE SCORE: %
He and brother J.B. (No. 250),
who is now governor of Illinois, 250. JANE GOLDMAN SOURCE: BANKING, REAL ESTATE
cofounded Pritzker Group, 239. DAVID STEWARD AGE: 87 RESIDENCE: CHEVY CHASE,
MD
which invests in venture capital $3.4 BILLION S SELF-MADE SCORE: $
SOURCE: REAL ESTATE
and private equity. In August, $3.5 BILLION S SELF-MADE SCORE: ) PHILANTHROPY SCORE:
168 SOURCE: IT PROVIDER AGE: 64 RESIDENCE: NEW YORK CITY
he and his wife, Jeanne, donat- Saul inherited his grandfather’s
AGE: 68 RESIDENCE: ST. LOUIS PHILANTHROPY SCORE:
ed $1 million to UCLA’s Congo real estate firm B.F. Saul and Co.,
Basin Institute, which supports PHILANTHROPY SCORE: which owns Washington, D.C.’s
T 250. AMY GOLDMAN
S students conducting research The chairman and cofounder of iconic Hay-Adams Hotel. He also
I
L on public health and climate IT provider World Wide Tech- FOWLER founded Saul Centers, a publicly

E change in Africa. nology grew up in a house that traded REIT.
H at times lacked indoor plumb- $3.4 BILLION S SELF-MADE SCORE: @
T SOURCE: REAL ESTATE
239. PAUL SINGER ing in Missouri, where he and 250. LYNN
seven siblings were some of AGE: 65 RESIDENCE: RHINEBECK, NY
$3.5 BILLION S SELF-MADE SCORE: * the first black children to inte- PHILANTHROPY SCORE: SCHUSTERMAN
SOURCE: HEDGE FUNDS grate into its schools. He started
AGE: 75 RESIDENCE: NEW YORK CITY as a substitute teacher and Boy 250. DIANE KEMPER $3.4 BILLION S SELF-MADE SCORE: !
SOURCE: OIL & GAS, INVESTMENTS
PHILANTHROPY SCORE: Scouts of America employee be- AGE: 80 RESIDENCE: TULSA
fore landing his first sales gig at $3.4 BILLION S SELF-MADE SCORE: @
He’s known for aggressive deal- SOURCE: REAL ESTATE PHILANTHROPY SCORE:
Missouri Pacific Railroad (a job
making, like the 15-year bat- AGE: 74 RESIDENCE: NEW YORK CITY
he landed after sending out 400 Her late husband, Charles, found-
tle with Argentina’s government PHILANTHROPY SCORE: ed energy company Samson Re-
over bond payments. Ahead résumés in three years). Now The late Sol Goldman (d. 1987), sources in 1971 and ran it until his
of the 2020 election, he’s turn- he is the second-richest African
American. once New York City’s biggest land- death from leukemia in 2000. She
ing up the political rhetoric,
lord, got his start running his sold the company in 2011 for $7.2
dad’s grocery store after dropping billion and has funneled much
• B E G I N N I N G S • out of college. His four children of that money to her foundation,
inherited the fortune. His Solil which supports Jewish causes and
Management is now headed by early childhood education.
daughter Jane and son Allan, who
co-chair the company. His daugh- 250. HERB SIMON
ter Diane used to run the residen-
tial leasing department. $3.4 BILLION S SELF-MADE SCORE: (
SOURCE: REAL ESTATE
250. PETER KELLOGG AGE: 85 RESIDENCE: INDIANAPOLIS
PHILANTHROPY SCORE:
$3.4 BILLION T SELF-MADE SCORE: $ Simon is cofounder of Simon
SOURCE: INVESTMENTS Property Group, which owns 206
AGE: 77 RESIDENCE: SHORT HILLS, NJ properties in the U.S., includ-
PHILANTHROPY SCORE: ing 107 malls, and has stakes in 35
In 1973 Kellogg went to work for shopping centers international-
his father at brokerage house ly. At a time when brick-and-mor-
Spear, Leeds & Kellogg. Eventu- tar stores are shuttering, SPG has
ally he took control of the com- launched in-store experiences like
pany and sold it to Goldman a partnership with the augment-
Sachs for $6.5 billion in 2000. ed reality game Harry Potter: Wiz-
Today he is chairman of reinsur- ards Unite.
ance outfit IAT, which he started
back in 1986. 250. CHARLES SIMONYI
239. SCOTT COOK $3.4 BILLION S SELF-MADE SCORE: ^
250. J.B. PRITZKER
$3.5 BILLION WX SELF-MADE SCORE: * SOURCE: MICROSOFT
AGE: 71 RESIDENCE: MEDINA, WA
SOURCE: SOFTWARE $3.4 BILLION S SELF-MADE SCORE: #
AGE: 67 RESIDENCE: WOODSIDE, CA SOURCE: HOTELS, INVESTMENTS PHILANTHROPY SCORE:
AGE: 54 RESIDENCE: SPRINGFIELD, IL
PHILANTHROPY SCORE: Simonyi made his fortune develop-
Long before Cook became chairman of financial software giant PHILANTHROPY SCORE: ing Excel and Word as an early em-
Intuit, as a college student he was president of the University of After defeating incumbent Bruce ployee at Microsoft. But he started
Southern California’s moribund ski club. Showing early business Rauner in the election for gov- coding years earlier. Growing up
savvy, he says he turned it into the biggest ski club in the state. ernor of Illinois last November, in communist Hungary, Simonyi
(In this 1975 shot, he and sister Sharon take a break from the Pritzker became America’s rich- worked as a night watchman at a
slopes.) His plan was to get an economics Ph.D., but his stint as est politician—even richer than computer center, ensuring the ma-

.
ski club president, in part, persuaded him to apply to Harvard the president (No. 275) Pritzker, a chines didn’t turn off overnight. In
Business School. “I came to conclude you could do more to im- Hyatt hotel heir, spent more than exchange, he was allowed to code
prove people’s lives running large organizations and in business,” $175 million of his own money on and ultimately developed a pro-
Cook says. his campaign, one of the most ex- gram for the company.

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

• B E G I N N I N G S •
250. RONALD WANEK major league sports team. The joined Goldman Sachs’ research
first in his family to attend col- department the day after grad-
$3.4 BILLION S SELF-MADE SCORE: & lege, he made his initial fortune uating from Columbia Business
SOURCE: FURNITURE selling his billboard advertising School and helped build the firm’s
AGE: 78 RESIDENCE: ST. PETERSBURG, FL company Outdoor Systems for over $1 trillion asset manage-
PHILANTHROPY SCORE: $8.7 billion in 1999. ment division. He founded hedge
fund Omega Advisors in 1991. In
Wanek grew up poor on a Minne-
sota dairy farm. By 10 he could op- 261. PATRICK RYAN 2018, after settling insider trad-
erate a tractor. He started his first ing charges brought by the SEC
furniture manufacturing business, $3.3 BILLION S SELF-MADE SCORE: * regarding a small pipeline stock,
Arcadia Furniture, in 1970 with a SOURCE: INSURANCE without admitting or denying
AGE: 82 RESIDENCE: WINNETKA, IL guilt, he converted Omega into a 169
loan from his father and money
he got from selling his home. Six PHILANTHROPY SCORE: family office.
years later, Wanek bought Ashley Ryan sold personalized college T
Furniture and turned it into the scrapbooks to students to help pay 268. EDWARD JOHNSON IV H
largest furniture company in the for his education at Northwestern E

country. He remains chairman; University. In 1964, at 26, he start- $3.2 BILLION T SELF-MADE SCORE: @ F
son Todd, also a billionaire, has ed Ryan Insurance, then merged it 239. REED HASTINGS SOURCE: MONEY MANAGEMENT O
R
been CEO since 2002. with another company in 1982 to $3.5 BILLION T AGE: 54 RESIDENCE: BOSTON B
create AON, one of the largest in- PHILANTHROPY SCORE: E
S
261. JOHN ARNOLD surance firms in the world. He left SELF-MADE SCORE: &
SOURCE: NETFLIX
4
in 2008 after 41 years as CEO, and 268. ELIZABETH JOHNSON 0
$3.3 BILLION WX founded wholesale brokerage and AGE: 59 RESIDENCE: SANTA 0
SELF-MADE SCORE: * specialty insurance firm Ryan Spe- CRUZ, CA $3.2 BILLION T SELF-MADE SCORE: !
SOURCE: HEDGE FUNDS cialty Group two years later. This PHILANTHROPY SCORE: SOURCE: MONEY MANAGEMENT
AGE: 45 RESIDENCE: HOUSTON Netflix, a pioneer in the AGE: 56 RESIDENCE: BOSTON
year he was inducted into the Au-
stream ing industry, faces PHILANTHROPY SCORE:
PHILANTHROPY SCORE: tomotive Hall of Fame.
frenzied competiton from The siblings of Abigail John-
Arnold got his start trading Amazon, Hulu, Apple and
sports cards, reportedly travel- 261. MARK SHOEN Disney. Its stock has fall- son (No. 34), the CEO of mu-
ing around Texas and neighbor- tual fund giant Fidelity, hold
en 25% since second-quarter an estimated 5.6% of the firm
ing states to buy cards and re- $3.3 BILLION S SELF-MADE SCORE: %
earnings were announced— each. Edward is president of
sell them, and shipping cards SOURCE: U-HAUL though the company spent
to Canada for resale at high- AGE: 68 RESIDENCE: PHOENIX $12 billion last year on pro- Pembroke Real Estate, which is
er prices. He went through col- PHILANTHROPY SCORE: N. A. owned by Fidelity’s parent com-
gramming in an effort to pany FMR and manages 8.6
lege in three years and later Shoen’s parents started U-Haul gain a bigger international
made a fortune trading natural 74 years ago with $5,000 in sav- following. Hastings cofound- million square feet of real es-
gas for Enron before it implod- ings; he and brother Joe (No. 319) ed Netflix in 1997, two years tate. Elizabeth trains horses for
ed. Over the past decade Ar- wrested control of its parent com- after the IPO of his trouble- show-jumping.
nold, who only invests his own pany Amerco in 1986, a move that shooting software company
money now, has bet on such big irrevocably split the family. He Pure Software. He’s pictured 268. DANIEL OCH
energy projects as natural gas was the president of U-Haul for 16 above amid a mountain of
storage caverns, solar farms and years and still owns a 21% stake DVDs in September 2001. $3.2 BILLION S SELF-MADE SCORE: &
deepwater drilling in the Gulf in Amerco, which had revenues of SOURCE: HEDGE FUNDS
of Mexico. $3.8 billion in 2018. AGE: 58 RESIDENCE: SCARSDALE, NY
PHILANTHROPY SCORE:
261. JOHN MIDDLETON 261. ROMESH T. Och stepped down as chairman
tate deals linked to CEO Walter re- of hedge fund firm Och-Ziff (now
$3.3 BILLION S SELF-MADE SCORE: % WADHWANI portedly ended in May with no called Sculptor Capital Manage-
SOURCE: TOBACCO penalty, and the firm’s assets have ment) in March, 25 years after he
AGE: 64 RESIDENCE: BRYN MAWR, PA $3.3 BILLION S SELF-MADE SCORE: * edged up to $270 billion from founded it. The firm was rocked
SOURCE: SOFTWARE
PHILANTHROPY SCORE: $265 billion last year. Meanwhile, by redemptions in 2017 after in-
AGE: 72 RESIDENCE: PALO ALTO, CA vestors were scared off by a cor-
Middleton sold his family’s Phil- an entity he controls received $231
PHILANTHROPY SCORE: ruption scandal in Africa dur-
adelphia-based tobacco business million in July as prepayment for
John Middleton Inc., the maker The Indian-born tech entrepre- the 2022 delivery of up to 4.3 mil- ing which one of its subsidiaries
of Black & Mild cigars, to Altria neur, who came to the U.S. with lion shares of online car vendor pleaded guilty in 2016 to a crim-
for $2.9 billion in cash in 2007. less than $2.50 in his pocket in Carvana, effectively locking in inal conspiracy charge. Och now
1969 to pursue a master’s degree post-IPO gains of 400%. He’s also invests through his family office.
261. ARTURO MORENO and then a Ph.D. at Carnegie Mel- invested in plant-based-beef firm 268. JEAN “GIGI” PRITZKER
lon, is now chairman and CEO
of Symphony Technology Group, Beyond Meat, whose shares have
$3.3 BILLION S SELF-MADE SCORE: * more than doubled since going
a private equity firm he founded $3.2 BILLION WX
SOURCE: BILLBOARDS, ANAHEIM public in May.
ANGELS in 2002. SELF-MADE SCORE: #
SOURCE: HOTELS, INVESTMENTS
AGE: 73 RESIDENCE: PHOENIX 268. LEON G. AGE: 57 RESIDENCE: LOS ANGELES
PHILANTHROPY SCORE: 261. MARK WALTER PHILANTHROPY SCORE:
The majority of Moreno’s for- COOPERMAN
$3.3 BILLION T SELF-MADE SCORE: * A Hyatt Hotels heir, Pritzker is a
tune comes from owning MLB’s SOURCE: FINANCE $3.2 BILLION T SELF-MADE SCORE: ( film producer. Her media and en-
PAUL SAKUMA-AP is worth $1.9 billion, more than AGE: 59 RESIDENCE: CHICAGO SOURCE: HEDGE FUNDS tertainment company, MWM,
Los Angeles Angels. The team
AGE: 76 RESIDENCE: BOCA RATON, FL
has backed niche films like Drive,
PHILANTHROPY SCORE:
ten times what he paid for it in
Ender’s Game and Hell or High
PHILANTHROPY SCORE:
An SEC probe into Guggenheim
2003 when he became the first
Water.
The son of a Bronx plumber
Mexican American to own a
O C T O B E R 3 1 , 2 0 1 9 Partners over controversial real es- F O R B E S . C O M

• B E G I N N I N G S •
268. DON VULTAGGIO in 1995, and he stepped down as
& FAMILY CEO when GLG was sold to Man
Group for $1.6 billion in 2010. He
now runs venture capital firm
$3.2 BILLION S SELF-MADE SCORE: )
Toms Capital.
SOURCE: BEVERAGES
AGE: 67 RESIDENCE: PORT
WASHINGTON, NY 275. RICHARD SANDS
PHILANTHROPY SCORE:
$3.1 BILLION WX
His AriZona Beverages is jump- SELF-MADE SCORE: $
ing on the cannabis bandwagon. SOURCE: LIQUOR
In August, AriZona announced AGE: 68 RESIDENCE: CANANDAIGUA,
170
a partnership with Denver- NY
based cannabis company Dixie PHILANTHROPY SCORE:
Brands to produce THC-infused
T In March Sands stepped down as
S products. Vultaggio’s first foray
I chairman of his family booze busi-
L into the beverage industry was
ness, Constellation Brands, ced-
E in the 1970s, when he sold beer
H and soda in Brooklyn’s toughest ing the role to his younger broth-
T er, Robert, who gave up the CEO
neighborhoods. He transitioned reins; Richard remains vice chair-
to selling iced tea, launching Ar- man. Constellation invested $4
iZona from a Brooklyn ware-
billion in Toronto-listed cannabis
house in 1992. In his early days,
firm Canopy Growth in November
he worked in a grocery store but eight months later ousted the
and as a stock boy.
firm’s co-CEO in a move aimed to
boost growth. Richard started at
275. SID BASS 268. DENISE YORK & FAMILY Constellation in 1979 in the com-
pany’s winemaking lab; the busi-
$3.1 BILLION T SELF-MADE SCORE: $ $3.2 BILLION S SELF-MADE SCORE: # ness was founded by his father. He
SOURCE: OIL, INVESTMENTS SOURCE: SAN FRANCISCO 49ERS worked as a delivery-truck driver
AGE: 77 RESIDENCE: FORT WORTH, TX AGE: 69 RESIDENCE: YOUNGSTOWN, OH
during a hiatus from college.
PHILANTHROPY SCORE: PHILANTHROPY SCORE:
Last year’s fires in Malibu The San Francisco 49ers owner previously served as president of 275. DONALD TRUMP
burned the home that Bass her family’s Pittsburgh Penguins and in 1991 became the third
had bought there in 2015 for woman to have her name engraved on the Stanley Cup. (Above, $3.1 BILLION WX
$15 million from actor Patrick she poses next to the trophy with father Edward John DeBarto- SELF-MADE SCORE: $
Dempsey. Bass has acquired a lo Sr. and husband John York.) York worked for years in her fam- SOURCE: REAL ESTATE
new property in nearby Point ily’s real estate and sports enterprises and became the controlling AGE: 73 RESIDENCE: WASHINGTON, D.C.
Dume. In 2017 he negotiated the owner of the 49ers in 2001. In high school, she worked at the cus- PHILANTHROPY SCORE:
sale of his family’s oilfields in tomer information desk at a Ohio mall. The president’s fortune lies large-
New Mexico to ExxonMobil for ly in Manhattan real estate, golf
$5.6 billion in stock and up to properties, hotels and brand li-
$1 billion in future payment. censing businesses. Since he en-
has since launched two 3D cell-
275. DAVID RUBENSTEIN phones under his ROKiT brand. tered the White House in 2017, his
275. GAYLE BENSON He purchased an 80-acre Illinois sons Eric and Don Jr. have been
$3.1 BILLION S SELF-MADE SCORE: ( running the Trump Organization,
campus formerly owned by Mc-
$3.1 BILLION S SELF-MADE SCORE: ! SOURCE: PRIVATE EQUITY employing a strategy quite differ-
SOURCE: PRO SPORTS TEAMS AGE: 70 RESIDENCE: BETHESDA, MD Donald’s for $40 million. Hair- ent from their father’s.
AGE: 72 RESIDENCE: NEW ORLEANS care company John Paul Mitchell
PHILANTHROPY SCORE: Systems, which DeJoria cofound-
PHILANTHROPY SCORE: N.A. The trio cofounded private equi- ed in 1980 and still owns a major- 275. HERBERT
Benson, who got her start work- ty firm The Carlyle Group in 1987 ity of, notched an estimated $900
ing for a costume jeweler in and ran the business for over 30 million in sales in 2018. His first WERTHEIM
New York City in the 1960s, in- years. In 2018 they stepped back job was selling Christmas cards $3.1 BILLION Ì SELF-MADE SCORE: )
herited NFL’s New Orleans into smaller roles. Conway and door-to-door at age 9. SOURCE: INVESTMENTS
Saints and NBA’s New Orleans Rubenstein, who were co-CEOs, AGE: 80 RESIDENCE: CORAL GABLES, FL
Pelicans from her husband, Tom are now co-executive chairmen. PHILANTHROPY SCORE:
Benson, after he died in March D’Aniello, who was chairman, is 275. NOAM GOTTESMAN
2018 at age 90. chairman emeritus. Raised by his Before becoming a Florida optom-
$3.1 BILLION S SELF-MADE SCORE: & etrist, Wertheim made beeswax
single mother, D’Aniello worked at
SOURCE: HEDGE FUNDS candles as a young NASA engineer
275. WILLIAM CONWAY, JR. a produce market from age 9 until AGE: 58 RESIDENCE: NEW YORK CITY
he finished college. at Cape Canaveral. He made his
PHILANTHROPY SCORE: first million dollars in 1975 after
$3.1 BILLION S SELF-MADE SCORE: *
SOURCE: PRIVATE EQUITY 275. JOHN PAUL DEJORIA Gottesman is the cofounder and founding Brain Power Inc., a man-
AGE: 70 RESIDENCE: MCLEAN, VA largest individual shareholder of ufacturer of eyeglass tints. For six
publicly traded Nomad Foods, Eu- decades he has invested the prof-
PHILANTHROPY SCORE: $3.1 BILLION S SELF-MADE SCORE: )
rope’s biggest frozen food compa- its from Brain Power into the
SOURCE: HAIR PRODUCTS, TEQUILA
275. DANIEL D’ANIELLO AGE: 75 RESIDENCE: AUSTIN, TX ny, with $2.4 billion in revenue. It stock market. He is the largest in-
sells Birds Eye brand and supplies
dividual shareholder in the aero-
PHILANTHROPY SCORE:
$3.1 BILLION S SELF-MADE SCORE: ) McDonald’s Norwegian business space firm Heico. Wertheim and
In spring 2018, DeJoria sold his re-
SOURCE: PRIVATE EQUITY with plant-based nuggets. He co- his wife Nicole’s foundation has
maining stake in Patrón Spirits to
AGE: 73 RESIDENCE: VIENNA, VA founded hedge fund GLG Partners given $50 million to the Universi-
Bacardí in a $5.1 billion deal. He
PHILANTHROPY SCORE: as a division of Lehman Brothers ty of Florida.
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

275. STEVE WYNN 287. JAMES IRSAY bled software reseller, for less than credit analyst, he amassed a for-
$1 million in 1989. After gradu- tune dealing in junk bonds in the
$3.1 BILLION S SELF-MADE SCORE: * $3 BILLION S SELF-MADE SCORE: @ ating from Amherst College, Lee 1980s and 1990s. Today his Renco
SOURCE: CASINOS, HOTELS SOURCE: INDIANAPOLIS COLTS returned to South Korea, where Group, an industrial empire, has
AGE: 77 RESIDENCE: LAS VEGAS AGE: 60 RESIDENCE: CARMEL, IN she grew up, and worked at auto estimated revenues of $5 billion.
PHILANTHROPY SCORE: PHILANTHROPY SCORE: parts maker Daesung Industri- Rennert is enmeshed in a legal
al in order to save money for her battle with Ron Perelman (No. 63)
The former casino mogul has A guitar aficionado, Irsay bought
M.B.A. over ownership stakes in Humvee
been laying low since 2018, when Pink Floyd guitarist David Gil-
maker AM General.
multiple Wynn Resorts em- mour’s 1969 black Fender Strato-
ployees alleged sexual miscon- caster at auction this summer 287. JOSEPH LIEMANDT
duct. He has denied the claims. for $3.9 million. The Indianapo- 287. THOMAS SIEBEL
In February of last year, Wynn lis Colts owner inherited the NFL $3 BILLION WX SELF-MADE SCORE: & 171
stepped down as CEO and the team from his father in 1997. Irsay SOURCE: SOFTWARE $3 BILLION S SELF-MADE SCORE: *
next month sold all of his shares has spent most of his life with the AGE: 51 RESIDENCE: AUSTIN, TX SOURCE: BUSINESS SOFTWARE
in the company he started with Colts, working in ticket sales and PHILANTHROPY SCORE: N.A. AGE: 66 RESIDENCE: WOODSIDE, CA T
ex-wife, Elaine Wynn (No. 388). public relations before becoming Liemandt runs ESW Capital, a PHILANTHROPY SCORE: E
H
Recently, he started an online general manager in 1984 at age 24. company that has purchased doz- A former Oracle employee, Sie-
F
art gallery, which he is reported- ens of small software firms. His bel made his fortune from soft- O
ly using to sell some of his mu- 287. THAI LEE companies are well known for em- ware firm Siebel Systems, which R
B
seum-quality pieces by the likes ploying freelancers from outside he started in 1993 and sold to Or- E
of Matisse, Picasso and Warhol. $3 BILLION S SELF-MADE SCORE: ( the U.S. The investor hasn’t talk- acle for $5.8 billion in 2006. These S

Wynn started working at age 15, SOURCE: IT PROVIDER ed to the press about his business days he is focused on C3.ai, his AI 4
0
selling Good Humor ice cream AGE: 60 RESIDENCE: AUSTIN, TX dealings in more than a decade. startup. Before working in tech, 0
from his bicycle. PHILANTHROPY SCORE: N.A. Siebel was a cowboy, moving cat-
Lee runs IT provider SHI Inter- 287. IRA RENNERT tle and baling hay at a ranch in
287. ORLANDO BRAVO national, which hit $10 billion Idaho when he was 23 years old.
in revenue and 4,000 employees $3 BILLION T SELF-MADE SCORE: * “After graduation I got in a pick-
$3 BILLION Ì SELF-MADE SCORE: * in 2018, serving 15,000 custom- SOURCE: INVESTMENTS up truck and started driving west,”
SOURCE: PRIVATE EQUITY AGE: 85 RESIDENCE: NEW YORK CITY Siebel says. “[I] stopped in Belle-
ers. She and her now ex-husband
AGE: 49 RESIDENCE: SAN FRANCISCO PHILANTHROPY SCORE: vue, Idaho, and was hired on a
bought its predecessor, a trou-
PHILANTHROPY SCORE: A Brooklyn native and former local ranch as a cowboy.” Today he
owns and operates the 71,000 acre
Bravo’s firm Thoma Bravo has
perfected the software buyout, • B E G I N N I N G S • Dearborn Ranch in Wolf Creek,
making him the first billionaire Montana.
from Puerto Rico.
287. WILLIAM WRIGLEY JR.
287. JIM DAVIS $3 BILLION S SELF-MADE SCORE: #

SOURCE: CHEWING GUM
$3 BILLION S SELF-MADE SCORE: *
AGE: 55 RESIDENCE: NORTH PALM
SOURCE: STAFFING & RECRUITING
BEACH, FL
AGE: 59 RESIDENCE: COCKEYSVILLE,
MD PHILANTHROPY SCORE: N.A.
PHILANTHROPY SCORE: The chewing gum heir led a $65
million funding round in med-
Davis is chairman of $13.4 bil-
ical cannabis startup Surter-
lion (revenues) staffing busi-
ra Wellness in July 2018 and
ness Allegis Group, which he
and his cousin Stephen Bisciot- became the CEO four months
ti (No. 150) started when they later. Wrigley, known as Beau,
ran his family business for al-
were in their mid-20s. Through
most a decade before selling it
Redwood Capital, he also in-
vests in everything from retire- to Mars for $23 billion in 2008.
ment communities to propane
distribution. 296. JIMMY HASLAM

287. JOHNELLE HUNT $2.9 BILLION S SELF-MADE SCORE: #
SOURCE: GAS STATIONS, RETAIL
AGE: 65 RESIDENCE: KNOXVILLE, TN
$3 BILLION T SELF-MADE SCORE: &
SOURCE: TRUCKING PHILANTHROPY SCORE:
AGE: 87 RESIDENCE: FAYETTEVILLE, AR In 2017, Berkshire Hathaway
275. DON HANKEY
PHILANTHROPY SCORE: bought a 39% stake of Pilot Fly-
Johnelle and her husband, John- $3.1 BILLION WX SELF-MADE SCORE: & ing J for a reported $2.8 billion.
SOURCE: AUTO LOANS In 2023, Berkshire will acquire
nie (d. 2006), cofounded J.B. Hunt
AGE: 76 RESIDENCE: MALIBU, CA another 41.4% of the truck stop
Transport Services in 1969 with
five trucks. Today she owns 17% PHILANTHROPY SCORE: chain founded by Haslam’s fa-
of the $8.6 billion (sales) compa- Hankey’s father opened a Ford dealership in Los Angeles in 1958. ther, Jim, in 1958. Pilot, which
ny. Hunt is the chair of investment Hankey started out washing and polishing cars in his dad’s lot as a Haslam has run since 1996, has
firm Hunt Ventures, which broke teen and the next summer graduated to selling used cars. His father more than 750 locations in 44
ground on a $100 million retail died in 1962, and ten years later Hankey (at left above) bought out states and $29 billion in reve-
and residential development in his father’s partners and took control of Midway Ford on Vermont nue in 2018. He owns a majority
northwest Arkansas in February. Avenue. He eventually focused on subprime car loans: Today his stake in the Cleveland Browns,
auto services empire boasts nearly $2.1 billion in sales. worth $1.2 billion.


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 •
296. PAT STRYKER but he still owns U.S. News &
World Report and has a stake
$2.9 BILLION S SELF-MADE SCORE: ! in real estate developer Boston
SOURCE: MEDICAL EQUIPMENT Properties, which he cofounded
AGE: 63 RESIDENCE: FORT COLLINS, CO
in 1970. He launched the Zuck-
PHILANTHROPY SCORE: erman STEM Leadership Pro-
Her paternal grandfather was gram in 2016, providing $100
Homer Stryker, an orthopedic million-plus over 20 years to
surgeon who founded medical- foster scientific collaboration
devices company Stryker. Her between the U.S. and Israel.
passion for service also comes
172 from her maternal grandparents, 306. CLIFFORD ASNESS
who were educational mission-
aries in China. She has doled out $2.8 BILLION T SELF-MADE SCORE: *
T nearly $200 million through her SOURCE: MONEY MANAGEMENT
S
I Bohemian Foundation to sup- AGE: 53 RESIDENCE: GREENWICH, CT
L
port initiatives including the na- PHILANTHROPY SCORE:
E tion’s first memorial of racial ter-
H Asness is cofounder of invest-
T ror lynchings.
ment management firm AQR
296. MICHAEL RUBIN Capital Management, which
296. GLEN TAYLOR has $194 billion in assets under
$2.9 BILLION T SELF-MADE SCORE: * management as of June. The
SOURCE: ONLINE RETAIL $2.9 BILLION WX firm has had a bad run over the
AGE: 47 RESIDENCE: BRYN MAWR, PA SELF-MADE SCORE: ( past two years. He apologized
SOURCE: PRINTING
PHILANTHROPY SCORE: to investors, and AQR laid off
AGE: 78 RESIDENCE: MANKATO, MN
At age 8, Rubin started selling vegetable seeds and homemade sta- a small percentage of its work-
PHILANTHROPY SCORE:
tionery door-to-door in his suburban Philadelphia neighborhood. At ers. In high school he worked
As a teenager Taylor worked on
10, he hired other kids to shovel driveways. At 12, he started a ski- as a cashier and server at a
tuning shop, pictured above, in his parents’ basement; it spun out his neighbors’ farms in Min- Carvel ice cream store in Roslyn
enough cash for him to buy a Porsche before he turned 16 and net- nesota for $1 an hour. Three Heights, New York.
ted him his first million by age 18. Today, Rubin’s fortune stems from days after graduating from high
school he took a job at a local
his majority ownership in e-commerce companies including Fanatics 306. BENNETT DORRANCE
printing company. He bought
and Rue Gilt Groupe.
that company in 1975 for $2
$2.8 BILLION S SELF-MADE SCORE: @
million and grew it into Tay-
SOURCE: CAMPBELL SOUP
lor Corp., a printing firm with AGE: 72 RESIDENCE: PARADISE VAL-
296. VINCENT 296. HAIM SABAN over $2 billion in sales. Taylor LEY, AZ
owns stakes in Minnesota’s NBA
MCMAHON $2.9 BILLION WX team, the Timberwolves; its PHILANTHROPY SCORE:
SELF-MADE SCORE: ( WNBA team, the Lynx; and the The Campbell Soup heir, who
$2.9 BILLION T SELF-MADE SCORE: ( SOURCE: TELEVISION NETWORKS, United FC soccer team. owns a 15% stake in the com-
SOURCE: ENTERTAINMENT INVESTMENTS pany, remains a director after a
AGE: 74 RESIDENCE: GREENWICH, CT AGE: 75 RESIDENCE: BEVERLY HILLS, CA 296. TY WARNER proxy battle led by activist inves-
PHILANTHROPY SCORE: PHILANTHROPY SCORE: tor Daniel Loeb (No. 306). In 2017
he donated $45 million worth
McMahon’s World Wrestling En- Saban chairs struggling Span- $2.9 BILLION S SELF-MADE SCORE: ) of Campbell Soup shares to his
tertainment took a public beating ish-language broadcast net- SOURCE: REAL ESTATE, PLUSH TOYS foundation, which pays for first-
in March when comedian John work Univision, which put it- AGE: 75 RESIDENCE: OAK BROOK, IL generation students to go to col-
Oliver excoriated the working con- self up for sale in July. That PHILANTHROPY SCORE: lege in Arizona. Dorrance is a li-
ditions of its wrestlers on his HBO same month he said he’d in- After a failed attempt as a teenage censed pilot with a hangar in
show. WWE hit back, challenging vest $500 million in Saban actor, the Illinois native accepted Arizona.
“every point in his one-sided pre- Music Group, a new record a sales job with plush-toy maker
sentation.” McMahon, who grew label that will sign global art- Dakin, where he worked for 20
up in a trailer park, bought the ists. Much of his fortune years. He then designed wood- 306. ARCHIE ALDIS “RED”
business from his dad and turned comes from TV (he helped cre- en music boxes in Italy and later EMMERSON & FAMILY
it into a global phenomenon with ate Mighty Morphin Power created Beanie Babies. That fad
$930 million in annual revenue. Rangers). He got his start in faded, but his Ty Inc. still makes $2.8 BILLION T SELF-MADE SCORE: (
His wife, Linda, headed President the music industry, working as miniature plush animals. He’s also SOURCE: TIMBERLAND, LUMBER MILLS
Trump’s Small Business Admin- a concert promoter. acquired hotels like the Four Sea- AGE: 90 RESIDENCE: REDDING, CA
istration before leaving to chair a sons New York and Four Seasons PHILANTHROPY SCORE:
PAC that supports Trump. 296. ROBERT SANDS Biltmore in Santa Barbara. He is the founder and chairman
emeritus of Sierra Pacific Indus-
296. JEFF ROTHSCHILD $2.9 BILLION T SELF-MADE SCORE: $ 296. MORTIMER tries, a forest products company
SOURCE: LIQUOR
AGE: 61 RESIDENCE: CANANDAIGUA, NY that owns over 2 million acres
$2.9 BILLION S SELF-MADE SCORE: ^ ZUCKERMAN in California and Washington.
SOURCE: FACEBOOK PHILANTHROPY SCORE: He began working in lumber
AGE: 64 RESIDENCE: PALO ALTO, CA In March, Sands stepped down $2.9 BILLION WX mills at 19, following in the foot-
SELF-MADE SCORE: *
PHILANTHROPY SCORE: as CEO of his family booze steps of his father, “Curly” Em-
SOURCE: REAL ESTATE, MEDIA
Before becoming one of Face- business Constellation Brands AGE: 82 RESIDENCE: NEW YORK CITY merson, who built and owned
book’s earliest employees, the en- to supplant his brother, Rich- PHILANTHROPY SCORE: a sawmill in Humboldt Coun-
gineer turned venture capital in- ard (No. 275), as chairman. His ty, Califormia. Emmerson’s sons
vestor worked at Honeywell and replacement is the first outsid- Zuckerman sold the New York George and Mark are president
Intel. He left Facebook in 2015. er to serve as CEO. Daily News in September 2017, and chairman.

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

306. B. WAYNE HUGHES investment in Sony and pushed ly 40% over the past year on the by insurance and healthcare
for the company to spin off its heels of its conversion from a companies.
$2.8 BILLION T SELF-MADE SCORE: ( semiconductor business. Loeb had limited partnership to a corpo-
SOURCE: SELF-STORAGE tried and failed to get Sony to split ration, a move that a number of 319. EDWARD
AGE: 86 RESIDENCE: LEXINGTON, KY up in 2013. private equity firms have done
to ramp up liquidity. A Columbia DEBARTOLO JR.
PHILANTHROPY SCORE:
The cofounder of Public Stor- 306. STEPHEN MANDEL JR. University grad who got his ca- $2.7 BILLION T SELF-MADE SCORE: %
age, the nation’s largest public- reer start as a lawyer at Cravath, SOURCE: SHOPPING CENTERS
ly traded self-storage REIT, was $2.8 BILLION S SELF-MADE SCORE: & Swaine and Moore, Ressler co- AGE: 72 RESIDENCE: TAMPA
outed by the L.A. Times in Sep- SOURCE: HEDGE FUNDS founded Ares in 1997. His broth-
AGE: 63 RESIDENCE: GREENWICH, CT er-in-law is Leon Black (No. PHILANTHROPY SCORE:
tember as the anonymous donor DeBartolo joined his dad’s real es-
of $400 million to his alma PHILANTHROPY SCORE: 63). His wife is TV actress Jami 173
Gertz. tate company in his 20s. A quar-
mater, the University of South- In January, Mandel stepped
ern California. He retired as down from overseeing invest- ter of a century later he directed
its merger with Simon Proper-
chairman of home-rental com- ments at Lone Pine Capital, the 306. ALAN TREFLER ty Group. An NFL Hall of Famer, T
pany American Homes 4 Rent hedge fund firm he founded in E
H
in May. 1997. Despite losing money last $2.8 BILLION S SELF-MADE SCORE: * he owned the San Francisco 49ers
F
year, he is considered one of his SOURCE: SOFTWARE from 1977 to 2000, a period when O
AGE: 63 RESIDENCE: BROOKLINE, MA the team won five Super Bowls. R
306. JAMES JANNARD generation’s best hedge fund in- B
vestors. PHILANTHROPY SCORE: E
$2.8 BILLION T SELF-MADE SCORE: ( Trefler, a world chess champi- 319. PETER GASSNER S

SOURCE: SUNGLASSES 306. RICHARD PEERY on in college, has an unusu- 0
4
AGE: 70 RESIDENCE: SAN JUAN al talent that helped his soft- $2.7 BILLION Ì SELF-MADE SCORE: * 0
ISLANDS, WA $2.8 BILLION WX ware firm Pegasystems nab one SOURCE: SOFTWARE
AGE: 54 RESIDENCE: PLEASANTON, CA
PHILANTHROPY SCORE: N.A. SELF-MADE SCORE: * of its first clients. He worked
SOURCE: REAL ESTATE PHILANTHROPY SCORE: N.A.
Red Hydrogen One, the much- in his family’s antique-restora-
AGE: 81 RESIDENCE: PALO ALTO, CA Gassner is cofounder and CEO of
hyped holographic smartphone, tion shop as a teen. Years later
had a disappointing launch in PHILANTHROPY SCORE: he offered to repair a Bank of Veeva, a software firm that helps
November 2018. After bad re- Peery’s entrepreneurial bent was America rep’s family heirloom. healthcare companies manage
views, Jannard blamed the clear in middle school, when he He did the restoration and got clinical trials and more. Shares
problems on the manufactur- owned every gumball machine on the client. Pegasystems’ soft- of Veeva, of which he owns about
er. He took sunglasses company the campus of Stanford University. ware helps businesses with cus- 9%, are up more than 50% in the
Oakley public and then sold it He later bought up Silicon Valley tomer engagement and is used past year amid soaring profits.
to Luxottica in 2007 for $2.1 bil- farmland with his business part-
lion. He then started Red Digi- ner John Arrillaga (No. 342) in the • B E G I N N I N G S •
tal Cinema, which manufactures 1960s, transforming it into a real
high-end digital cameras that estate empire that’s now home
have been used to shoot films to tenants such as Facebook and
like the Hobbit trilogy. Before Tesla. The two sold $250 million
dropping out of USC’s pharmacy worth of office buildings to Google
program, Jannard was known in April.
to take his Irish setter, named
Oakley, to class. 306. PENNY PRITZKER

306. WILLIAM LAUDER $2.8 BILLION S SELF-MADE SCORE: #
SOURCE: HOTELS, INVESTMENTS
$2.8 BILLION Ì SELF-MADE SCORE: $ AGE: 60 RESIDENCE: CHICAGO
SOURCE: ESTÉE LAUDER PHILANTHROPY SCORE:
AGE: 59 RESIDENCE: NEW YORK CITY U.S. secretary of commerce
PHILANTHROPY SCORE: N.A. during President Obama’s sec-
The Estée Lauder chairman ond term, the Hyatt heir is
joins four family members in back managing her invest-
the Forbes 400 ranks, thanks to ments through her firm, PSP
a nearly 50% jump in the value Partners. She got her law de-
of the makeup giant’s shares gree and M.B.A. from Stanford
since March. The elder son of and trained for an Ironman tri-
Leonard Lauder (No. 25) was athlon before joining the fam-
the company’s CEO from 2004 ily hotel business when she
to 2009. was 30. 306. ERIC LEFKOFSKY

306. DANIEL LOEB 306. ANTONY RESSLER $2.8 BILLION S SELF-MADE SCORE: *
SOURCE: GROUPON
$2.8 BILLION T SELF-MADE SCORE: & $2.8 BILLION S SELF-MADE SCORE: * AGE: 50 RESIDENCE: GLENCOE, IL
SOURCE: HEDGE FUNDS SOURCE: FINANCE PHILANTHROPY SCORE:
AGE: 57 RESIDENCE: NEW YORK CITY AGE: 57 RESIDENCE: LOS ANGELES
The Groupon cofounder’s latest startup, Tempus, is trying to use big
PHILANTHROPY SCORE: PHILANTHROPY SCORE: data to improve cancer treatment. The company, founded in 2015,
He and his $15 billion hedge The Atlanta Hawks are coming raised $200 million at a $3.1 billion valuation in May. Lefkofsky’s en-
fund, Third Point, are known for off a losing season, but majori- trepreneurial journey began while he was a student at the University
launching activist campaigns ty owner Ressler is still winning. of Michigan, where he started a carpet business that he estimates
against corporate boards. Earlier Shares of his Los Angeles-based generated hundreds of thousands of dollars in sales. He went on to
this year, Loeb made a $1.5 billion Ares Management are up near- found five companies, including Groupon and Tempus.


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

319. JOHN HENRY 319. JEFFREY LURIE 319. PHIL RUFFIN Capital these days. Stevens, a mi-
nority shareholder in the Gold-
$2.7 BILLION S SELF-MADE SCORE: & $2.7 BILLION S SELF-MADE SCORE: $ $2.7 BILLION WX en State Warriors, was fined
SOURCE: SPORTS SOURCE: PHILADELPHIA EAGLES SELF-MADE SCORE: * $500,000 in June and banned
AGE: 70 RESIDENCE: BOCA RATON, FL AGE: 68 RESIDENCE: WYNNEWOOD, SOURCE: CASINOS, REAL ESTATE from attending further NBA
PA AGE: 84 RESIDENCE: LAS VEGAS
PHILANTHROPY SCORE: games for a year after he pushed
Henry’s trophy cabinet is get- PHILANTHROPY SCORE: PHILANTHROPY SCORE: and “directed obscene language
ting crowded. The Boston Red Lurie flipped burgers at a Mas- Ruffin bought Casino Miami, toward” a member of the Toron-
Sox beat the Los Angeles Dodgers sachusetts drive-in theater be- which features live wagered jai to Raptors during Game 3 of the
in the 2018 World Series, claim- fore becoming an adjunct assis- alai games from Fronton Holdings, NBA Finals.
ing the title for the fourth time tant social-policy professor at for an undisclosed sum in Decem-
174
under Henry’s ownership. “I’m Boston University. He went on ber 2018. His most valuable asset 319. JOHN TYSON
just stunned,” said the billionaire, to buy the Philadelphia Eagles is the Treasure Island Hotel & Ca-
who bought the Sox with his part- in 1994 for a reported $185 mil- sino on the Vegas Strip, which is $2.7 BILLION 3 SELF-MADE SCORE: %
T SOURCE: FOOD PROCESSING
S ner Tom Werner for $380 million lion, using stock in the family worth an estimated $1.5 billion.
I He owns the Trump Internation- AGE: 66 RESIDENCE: SPRINGDALE, AR
L in 2001. The club is now worth company Harcourt General as
al Hotel in a 50-50 venture with PHILANTHROPY SCORE:
E $3.2 billion. He also has a stake in collateral. Now worth $3.1 bil-
H Premier League soccer team Liv- lion, the Eagles won their first President Trump. He has come a He chairs Tyson Foods, the com-
T
erpool, which won the Champions Super Bowl in 2018, beating the long way from his first job, work- pany founded by his grandfather.
League in June. New England Patriots, which ing at a W.T. Grant department He started working for the fami-
Lurie also had tried to buy. store, where he once was tasked ly business at age 13, transferring
with repossessing a monkey a cus- eggs to incubators in the hatch-
• B E G I N N I N G S • 319. SEAN PARKER tomer didn’t pay for. ery and vaccinating chickens on
the farm. He served as CEO from
$2.7 BILLION WX 319. THOMAS SECUNDA 2000 to 2006. This year, Tyson
SELF-MADE SCORE: * Foods debuted a plant-based nug-
SOURCE: FACEBOOK $2.7 BILLION WX get.
AGE: 39 RESIDENCE: LOS ANGELES SELF-MADE SCORE: *
PHILANTHROPY SCORE: SOURCE: BLOOMBERG LP
AGE: 65 RESIDENCE: CROTON-ON- 333. WILLIAM BERKLEY
At 19 he upended the record in-
HUDSON, NY
dustry with Napster. In 2004, $2.6 BILLION 3 SELF-MADE SCORE: 8
PHILANTHROPY SCORE:
at 24, he became Facebook’s SOURCE: INSURANCE
first president. Both companies Secunda worked in systems re- AGE: 73 RESIDENCE: COCONUT
eventually bounced him. Now search at Salomon Brothers, GROVE, FL
he’s funding his own ideas, in- where he met Michael Bloom- PHILANTHROPY SCORE:
vesting $250 million through berg and became one of four Berkley is chairman of W.R. Berk-
his cancer immunotherapy founders of financial services and ley, an insurance company that he
institute. media company Bloomberg LP. He founded with $2,500 as an M.B.A.
helped build Bloomberg’s lucrative
student. Shares of the insurer rose
319. BOB PARSONS terminal business, the building more than a third in the past year,
319. JOHN block for Bloomberg LP’s estimat- returning him to The Forbes 400
CATSIMATIDIS $2.7 BILLION S SELF-MADE SCORE: ) ed $10 billion in revenue. for the first time since 1992.
SOURCE: WEB HOSTING
$2.7 BILLION T AGE: 68 RESIDENCE: SCOTTSDALE, AZ 319. E. JOE SHOEN 333. TIMOTHY BOYLE
SELF-MADE SCORE: ) PHILANTHROPY SCORE:
SOURCE: OIL, REAL ESTATE $2.7 BILLION WX
The colorful founder of $2.6 BILLION S SELF-MADE SCORE: %
AGE: 71 RESIDENCE: NEW YORK SELF-MADE SCORE: %
GoDaddy, Parsons sold his SOURCE: COLUMBIA SPORTSWEAR
CITY SOURCE: U-HAUL
remaining stake in the Web- AGE: 70 RESIDENCE: PHOENIX AGE: 70 RESIDENCE: PORTLAND, OR
PHILANTHROPY SCORE:
hosting firm and stepped PHILANTHROPY SCORE: N.A. PHILANTHROPY SCORE:
Catsimatidis went from host- down from the board in 2018. Boyle started at Columbia Sports-
ing a weekly radio show to He now has investments in Shoen is chairman of U-Haul’s wear in 1971 after his father, who
purchasing a radio station this numerous ventures including parent company Amerco. His par- had led the company since 1964,
year. In June he bid $12 mil- seven motorcycle dealerships, ents founded the truck and trail- died. As a college senior, he helped
lion for WABC in New York. a golf club, a production er rental company in 1945, which his mom run the business started
The bulk of his fortune lies in studio and golf-equipment now has more than 21,000 loca- by his maternal grandparents. As
real estate and a Pennsylva- company PXG. He’s spent tions and has a presence in all 50 CEO, Boyle has spoken out against
nia oil refinery. After graduat- nearly $600 million buying U.S. states. Shoen left U-Haul in Trump’s immigration policies.
ing from Brooklyn Tech high up real estate in Arizona. The 1979 to start a specialty paint re-
school in 1967, Catsimatidis son of hard-core gamblers, tailer but went back and took con-
got a job at Red Apple Gro- Parsons, who grew up poor in trol in 1986. He’s been chairman 333. JIM COULTER
cery, stocking shelves and un- inner-city Baltimore, relied on since. $2.6 BILLION S SELF-MADE SCORE: &
loading deliveries for $1.10 an his entrepreneurial grit and SOURCE: PRIVATE EQUITY
hour, then working his way willingness to break the rules 319. MARK STEVENS AGE: 59 RESIDENCE: SAN FRANCISCO
up to cashier. He continued even as a kid. One way he PHILANTHROPY SCORE:
working at Red Apple while made money: go to a popular $2.7 BILLION WX
attending New York Univer- bus stop, pop a quarter into SELF-MADE SCORE: ( Coulter cofounded private equi-
SOURCE: VENTURE CAPITAL
sity, then dropped out shy of the newspaper vending ma- AGE: 59 RESIDENCE: ATHERTON, CA ty giant TPG in 1992 with David
graduating to buy half the chine and take all the papers. Bonderman (No. 217). This year
grocery store for $10,000. When the bus arrived, he’d PHILANTHROPY SCORE: the firm, of which he is co-CEO,
Today he owns the Gristedes sell the papers—at a markup— The former partner at VC firm Se- invested in dozens of companies,
chain of grocery stores. to the passengers. quoia is investing via his S-Cubed including healthcare drone deliv-
ery service Zipline.

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

• B E G I N N I N G S •
333. W. HERBERT HUNT 333. J. JOE RICKETTS

$2.6 BILLION S SELF-MADE SCORE: $ & FAMILY
SOURCE: OIL
$2.6 BILLION S SELF-MADE SCORE: )
AGE: 90 RESIDENCE: DALLAS
SOURCE: TD AMERITRADE
PHILANTHROPY SCORE:
AGE: 78 RESIDENCE: LITTLE JACKSON
One of oil wildcatter H.L. Hunt’s HOLE, WY
15 children, he and his broth- PHILANTHROPY SCORE:
er Nelson discovered the Sarir
He took nine years to graduate
Field in Libya, one of the larg-
from Creighton University, drop-
est oilfields on the African con- ping out at times to save money for
tinent, in 1961. The brothers 175
tuition. He helped pay his way by
then made a massive bet on
working as a dorm-room janitor.
silver that imploded, causing
Ricketts founded a stock brokerage T
them to file for personal bank- in 1975 that grew into Ameritrade. H
ruptcy in 1988. Hunt has been E

back in The Forbes 400 ranks F
since 2013, after selling oilfields 333. DAN SNYDER O
worth $1.5 billion. He remains R
$2.6 BILLION S SELF-MADE SCORE: *
B
an advisor to Petro-Hunt, which E
SOURCE: WASHINGTON REDSKINS S
picked up land and operating
AGE: 54 RESIDENCE: POTOMAC, MD 4
wells in North Dakota’s Willis- 0
PHILANTHROPY SCORE: 319. AERIN LAUDER
ton Basin in 2018. 0
The value of the Washington
$2.7 BILLION S SELF-MADE SCORE: $
333. DRAYTON MCLANE JR. Redskins, which Snyder bought SOURCE: ESTÉE LAUDER
in 1999, is up 10% to $3.4 billion
AGE: 49 RESIDENCE: NEW YORK CITY
in the past year despite game-
$2.6 BILLION S SELF-MADE SCORE: % PHILANTHROPY SCORE:
day attendance declining 23%
SOURCE: WALMART, LOGISTICS A fashion magnate much in the mold of her famous grandmoth-
AGE: 83 RESIDENCE: TEMPLE, TX in 2018. The team hasn’t won a er Estée Lauder (with whom she’s pictured in 1992), she founded
playoff game since 2005. A col-
PHILANTHROPY SCORE: her own luxury lifestyle brand, AERIN, which curates a variety of
lege dropout, Snyder made his
McLane has put his name and collections in beauty, home decor and accessories. The beauty cat-
fortune with Snyder Communi-
money behind the Texas Cen- egory operates within the Estée Lauder company. In August, she
cations, which he took public in
tral railroad, which aims to con- 1996 and then sold for $2.5 bil- launched a hotel amenity line featuring bath and body products.
nect Dallas and Houston with lion in stock in 2000. She holds a 5.6% stake in Estée Lauder, where she is also the style
Japanese-style bullet trains. and image director.
Construction on the $14 bil-
lion project was slated to begin 333. JERRY YANG
in late 2019, but it may face de-
$2.6 BILLION S SELF-MADE SCORE: ) April and are now looking to
lays due to local opposition. He 342. GEORGE ARGYROS
SOURCE: YAHOO develop a residential and com-
started sweeping the floors at
AGE: 50 RESIDENCE: LOS ALTOS & FAMILY
his family’s grocery distribution HILLS, CA mercial project near Sacra-
company at age 9. In 1991 he mento. As an undergraduate
PHILANTHROPY SCORE: $2.5 BILLION T SELF-MADE SCORE: ( at Stanford, Arrillaga worked
sold the family business to Sam SOURCE: REAL ESTATE, INVESTMENTS
Yang, a Taiwanese immigrant, six jobs—including delivering
Walton. AGE: 82 RESIDENCE: NEWPORT
pursued math and science be- BEACH, CA mail and gardening—just to get
cause of his shaky English. by, despite having a basketball
333. JOHN PRITZKER It turned out to be a shrewd PHILANTHROPY SCORE: scholarship.
move—at his computer science A former owner of the Seattle
$2.6 BILLION S SELF-MADE SCORE: # Mariners, Argyros runs Arnel &
SOURCE: HOTELS, INVESTMENTS Ph.D. program at Stanford, he Affiliates, which owns real es- 342. RILEY BECHTEL
met David Filo (No. 159), and to-
AGE: 66 RESIDENCE: SAN FRANCISCO
gether they founded Yahoo. Yang tate in southern California. The & FAMILY
PHILANTHROPY SCORE: grandson of Greek immigrants,
later started AME Cloud Ven-
An heir to the Hyatt Hotel for- tures—which profited this year he worked his way through $2.5 BILLION T SELF-MADE SCORE: $
tune, he sold his shares in Hyatt high school and college as a pa- SOURCE: ENGINEERING,
from the IPOs of Lyft and Zoom.
to relatives in 2010. He then ac- perboy and supermarket clerk. CONSTRUCTION
quired several boutique-hotel AGE: 67 RESIDENCE: SAN FRANCISCO
management companies, and 342. BRIAN ACTON 342. JOHN ARRILLAGA PHILANTHROPY SCORE: N.A.
FAIRCHILD ARCHIVE-PENSKE MEDIA-SHUTTERSTOCK
in late 2018 sold his Two Roads
$2.5 BILLION T SELF-MADE SCORE: *
Hospitality hotel operation for $2.5 BILLION WX SELF-MADE SCORE: ( 342. STEPHEN BECHTEL JR.
SOURCE: WHATSAPP
$408 million to Hyatt, where his AGE: 47 RESIDENCE: PALO ALTO, CA SOURCE: REAL ESTATE
brother Tom Pritzker (No. 187) AGE: 82 RESIDENCE: PORTOLA $2.5 BILLION T SELF-MADE SCORE: $
PHILANTHROPY SCORE: SOURCE: ENGINEERING,
is chairman. In March the John VALLEY, CA
The cofounder of messaging app CONSTRUCTION
Pritzker Family Fund said it was PHILANTHROPY SCORE: AGE: 94 RESIDENCE: SAN FRANCISCO
donating $25 million to build a WhatsApp, which Facebook ac- He and his business partner
waterfront park in San Francis- quired in 2014 for $22 billion in Richard Peery (No. 306) started PHILANTHROPY SCORE:
cash and stock, left the company
co’s Bayview neighborhood. His their Silicon Valley real estate Stephen and his son Riley each
in late 2017. He has started four
first job: busboy, at age 13. Then firm Peery-Arrillaga by buy- own an estimated 20% of Bechtel,
he became a waiter at Lenny’s philanthropic entities and given ing up farmland in the 1960s; the 121-year-old construction and
just over $1 billion to donor-ad- engineering firm whose revenues
Delicatessen in Hubbard Woods, tenants now include Facebook
vised funds and charities that
Illinois: “The experience … ac- and Google. They sold sever- have declined since 2016. Riley’s
tually set me on the path to- focus on promoting civic engage- al buildings in Mountain View son Brendan is Bechtel’s
wards hospitality.” ment and helping the poor in 10 to Google for $250 million in chairman.
counties in the Bay Area.
O C T O B E R 3 1 , 2 0 1 9 F O R B E S . C O M

342. NORMAN BRAMAN enues. John has diversified his Armstrong, in 2010. Pritzker was a Ruzicka was convicted of feder-
wealth outside of the family busi- guitarist and songwriter for Sonia al fraud charges in 2018 and sen-
$2.5 BILLION S SELF-MADE SCORE: ( ness. His majority stakes in the Dada, a fusion rock and soul band. tenced to seven years in prison.
SOURCE: ART, CAR DEALERSHIPS Oakland A’s baseball team and the
AGE: 87 RESIDENCE: MIAMI San Jose Earthquakes soccer team 342. WARREN STEPHENS 355. RON BARON
PHILANTHROPY SCORE: are worth about $1 billion.
Braman owns one of Florida’s $2.5 BILLION T SELF-MADE SCORE: $ $2.4 BILLION S SELF-MADE SCORE: *
largest car dealerships, Braman 342. JOSEPH GRENDYS SOURCE: INVESTMENT BANKING SOURCE: MONEY MANAGEMENT
Motorcars; he first made a fortune AGE: 62 RESIDENCE: LITTLE ROCK, AR AGE: 76 RESIDENCE: NEW YORK CITY
retailing pharmaceuticals and cos- $2.5 BILLION WX PHILANTHROPY SCORE: PHILANTHROPY SCORE:
SELF-MADE SCORE: &
metics. Stephens is the president and CEO A former lifeguard, ice-cream-
176 SOURCE: POULTRY PROCESSING
AGE: 57 RESIDENCE: CHICAGO of Stephens Inc., a privately held truck driver and emergency-
342. JOHN FISHER PHILANTHROPY SCORE: investment bank that his uncle room orderly, Baron made his
T Witt Stephens founded in 1933. fortune holding stocks for the
S $2.5 BILLION T SELF-MADE SCORE: @ Grendys helms Koch Foods, a The Arkansas-based bank under- long haul. His $7 billion flagship
I $3.3 billion (revenues) supplier of
L SOURCE: GAP wrote Walmart’s public offering in fund, Baron Growth, has an an-
chickens to retailers like Walmart
E AGE: 58 RESIDENCE: SAN FRANCISCO 1970 and now has 24 offices in 13 nual turnover of 3%. When mar-
H PHILANTHROPY SCORE: and Kroger. Its Morton, Missis- states. In January a housekeeper kets sank in early August, he
T sippi, plant was one of five poul-
In November Fisher joined his try processors targeted by U.S. got stuck for three days in the ele- loaded up on equities by tripling
brothers William and Robert on vator of a Manhattan town house his usual weekly investment. His
Immigration and Customs En- he owns. In a statement, Stephens’ buy-and-hold approach is even
the board of Gap, the fashion
forcement in August as part of company said it was working “to immune to the Musk-induced tu-
chain started in 1969 by their par-
the largest immigration raids in ensure that something like this mult in Tesla shares. He’s still
ents. Despite announcing plans more than a decade. ICE arrest-
to spin off Old Navy, the compa- never happens again.” bullish about owning the stock.
ed 234 Koch Foods workers, who Founded in 1982 with just $10
ny’s stock is down nearly 40% in
had previously passed the govern- million in assets, Baron Capital
the past year, amid a drop in rev- 342. DAVID WALENTAS
ment’s E-Verify program. today manages over $28 billion.
$2.5 BILLION S SELF-MADE SCORE: )
• B E G I N N I N G S • 342. C. DEAN SOURCE: REAL ESTATE 355. GEORGE BISHOP
AGE: 81 RESIDENCE: NEW YORK CITY
METROPOULOS PHILANTHROPY SCORE: $2.4 BILLION T SELF-MADE SCORE: &
$2.5 BILLION WX After a stroke left his father paral- SOURCE: OIL & GAS
SELF-MADE SCORE: * ized, 6-year-old Walentas spent AGE: 82 RESIDENCE:
SOURCE: INVESTMENTS time on neighboring farms near THE WOODLANDS, TX
AGE: 73 RESIDENCE: PALM BEACH, FL Rochester, New York, as he puts PHILANTHROPY SCORE:
PHILANTHROPY SCORE: N.A. it, “milking cows and shovel- Bishop founded GeoSouthern En-
The man known for saving the ing s--t for my room and board.” ergy in 1981 and became an early
iconic Twinkies and Hostess Years later, in 1979, the hardscrab- investor in the Eagle Ford shale
brands started a small summer ble developer borrowed $12 mil- of South Texas, one of the larg-
landscaping company while he lion to buy two million square feet est natural-gas plays in the U.S.
was in 11th grade. He went on to in New York’s heavily industrial He sold GeoSouthern’s fields there
join lighting and precision-ma- Dumbo neighborhood, now a hot to Devon Energy for $6 billion
terials company Sylvania dur- location in Brooklyn. He credits in 2014, sharing the payday with
ing his junior year at Babson Col- his son Jed, the CEO of Walentas’ Blackstone Group. He reinvest-
lege. Through his Metropoulos & Two Trees real estate firm, with ed the proceeds in the Haynes-
319. OPRAH WINFREY Co., he’s made his fortune turning spearheading the company’s Dom- ville shale of Louisiana the follow-
around and selling such brands as ino Sugar Factory development, ing year. Earlier this year, Bishop
$2.7 BILLION T Chef Boyardee, Pabst Blue Ribbon where Walentas says his new sky- endowed a geology scholarship in
SELF-MADE SCORE: ) and Bumble Bee Tuna. The Greek- scraper at One South First has his name at Mississippi State Uni-
SOURCE: TV SHOWS born entrepreneur, along with pri- started leasing out apartments. versity, his alma mater.
AGE: 65 RESIDENCE: MONTE- vate equity titan Alec Gores (No.
CITO, CA
388), took blank-check company 355. BILL AUSTIN 355. DORIS FISHER
PHILANTHROPY SCORE: Gores Metropoulos public in Feb-
At age 17, after being named ruary. $2.4 BILLION T SELF-MADE SCORE: ( $2.4 BILLION T SELF-MADE SCORE: &
Miss Black Tennessee, Win- SOURCE: HEARING AIDS SOURCE: GAP
frey was offered an on-air 342. DANIEL PRITZKER AGE: 77 RESIDENCE: BROWNSVILLE, TX AGE: 88 RESIDENCE: SAN FRANCISCO
job at a Nashville radio sta- PHILANTHROPY SCORE: PHILANTHROPY SCORE:
tion. While in college she $2.5 BILLION S SELF-MADE SCORE: ! The Starkey Hearing Technologies The stock of Gap, the retail be-
switched to broadcast TV SOURCE: HOTELS, INVESTMENTS founder’s first job helped make hemoth Fisher and her late hus-
(pictured in 1978 as a news AGE: 60 RESIDENCE: MARIN COUNTY, him a billionaire. Austin worked band, Donald, founded 50 years
co-anchor) and made her CA in his uncle’s hearing aid shop ago, is at its lowest point since
mark with her daytime talk PHILANTHROPY SCORE: to help pay for college. Taken by April 2009, and sales are down
show, which ran for 25 sea- In May, after a decade of work, the the way the devices could trans- even at Old Navy, Gap’s high-
sons. Since The Oprah Win- filmmaker and heir to the Hyatt form lives, he dropped out after est-earning brand, which will be AFRO AMERICAN NEWSPAPERS-GADO-GETTY IMAGES
frey Show ended in 2011, fortune finally released Bolden, a a month to create his own hear- spun off from the parent compa-
Winfrey has been busy be- biographical drama about New ing aid production firm, which ny. Doris, who retired from the
hind the camera. A new deal Orleans cornetist Buddy Bold- has become the largest in Ameri- company’s board in 2009, has
with Apple TV+ has her cre- en. The film was Pritzker’s second ca. Customers have included five an art collection valued at an es-
ating content for the stream- foray into the world of jazz. He presidents, two popes and Mother timated $1 billion that includes
ing platform, including doc- produced the critically acclaimed Teresa. After a three-year legal bat- works by the likes of Sol LeWitt
umentaries and TV series. silent biopic Louis, about Louis tle, former Starkey president Jerry and Agnes Martin.


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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



355. BRAD KELLEY is the third largest shareholder in top Holdings chair just tripled 363. STEWART RAHR
plant-based meat manufacturer the size of his latest venture, Cal-
$2.4 BILLION WX Beyond Meat, which went public ifornia-based Mechanics Bank. $2.3 BILLION WX
SELF-MADE SCORE: ( in May. Williams grew up on his Ford’s private equity fund, which SELF-MADE SCORE: %
SOURCE: TOBACCO family farm in Nebraska. purchased Mechanics in 2015, SOURCE: DRUG DISTRIBUTION
AGE: 62 RESIDENCE: FRANKLIN, TN raised $1.1 billion to help finance AGE: 73 RESIDENCE: NEW YORK CITY
PHILANTHROPY SCORE: N.A. 363. RAY DAVIS its $2.1 billion acquisition of Ra- PHILANTHROPY SCORE:
Kelley sold his discount ciga- bobank, another California bank, A close friend of Trump, Rahr says
rette maker Commonwealth $2.3 BILLION T SELF-MADE SCORE: * in September. he regularly grabs a bite with the
Brands for $1 billion in 2001. SOURCE: PIPELINES president in Washington. Rahr
He’s now one of the nation’s AGE: 77 RESIDENCE: DALLAS 363. ERNEST GARCIA III sold his family’s drug whole-
178 largest landowners, with 1.5 mil- PHILANTHROPY SCORE: N.A. sale business, Kinray, to Cardi-
lion acres in five states. Born Davis and Kelcy Warren (No. $2.3 BILLION Ì SELF-MADE SCORE: % nal Health in 2010 for $1.3 billion.
on a farm, Kelley reportedly 159) cofounded natural gas pipe- SOURCE: USED CARS Since then he’s made conservative
T AGE: 37 RESIDENCE: PHOENIX
S bought his first piece of proper- line firm Energy Transfer in 1996. investments and focused on phi-
I ty at age 17. lanthropy, including $25 million
L Davis stepped down as co-CEO in PHILANTHROPY SCORE:
in donations to the Make A Wish
E 2007. He is a minority owner of The Stanford-educated engi-
H 355. PHILLIP T. RAGON the Texas Rangers baseball team. neer started out as an invest- Foundation.
T
ment analyst before joining
$2.4 BILLION S SELF-MADE SCORE: * 363.GERALD FORD his father’s used car dealer- 363. PETER THIEL
SOURCE: HEALTH IT ship business, DriveTime, in
AGE: 70 RESIDENCE: BOSTON
$2.3 BILLION T SELF-MADE SCORE: ( 2007. Five years later, Garcia $2.3 BILLION T SELF-MADE SCORE: *
PHILANTHROPY SCORE: SOURCE: BANKING cofounded Carvana, an e-com- SOURCE: FACEBOOK, PALANTIR
In April, Ragon donated $200 AGE: 75 RESIDENCE: DALLAS merce platform for buying and AGE: 52 RESIDENCE: LOS ANGELES
million to Massachusetts Gen- PHILANTHROPY SCORE: selling used cars, as a subsid- PHILANTHROPY SCORE:
eral Hospital, the largest gift in Forty-four years after buying his iary of DriveTime. It was spun Former PayPal mafia member,
the hospital’s history. His soft- first bank in Post, Texas, the Hill- out in a 2017 IPO, and its stock Thiel appeared on Fox News in
ware firm InterSystems, based has been in the fast lane late- July and accused Google of work-
in nearby Cambridge, Massachu- • B E G I N N I N G S • ly. His father, Ernest Garcia II ing with the Chinese government.
setts, has over $700 million in (No. 114), is also a billionaire He also suggested that the FBI
annual sales, but it was a long thanks to Carvana. and CIA should investigate wheth-
road to success. Ragon previous- er the search giant had been infil-
ly tried to become a professional 363. DAVID GOTTESMAN trated by foreign agents. A spokes-
musician in London. For a time person for Google told Forbes the
he made ends meet selling Indi- $2.3 BILLION T SELF-MADE SCORE: * allegations were baseless and that
an clothing he picked up in the SOURCE: INVESTMENTS Google only works with a small
U.K. to boutiques in Boston. AGE: 93 RESIDENCE: RYE, NY number of people in China on
PHILANTHROPY SCORE: open source and education-relat-
355. T. DENNY SANFORD Berkshire Hathaway board ed activities. Meanwhile, Thiel’s
member “Sandy” Gottesman secretive data-mining company
$2.4 BILLION T SELF-MADE SCORE: ( met Warren Buffett in 1962 and Palantir signed a $144 million con-
SOURCE: BANKING, CREDIT CARDS placed an early bet on the Or- tract with the Navy in July. The
AGE: 83 RESIDENCE: SIOUX FALLS, SD acle of Omaha. He now has a 15-year-old unicorn’s expected IPO
PHILANTHROPY SCORE: stake of more than $2 billion in is reportedly on hold.
Sanford’s First Premier Bank the company. Gottesman found-
has only 17 branches, but it’s one 342. JIM BREYER ed his own investment firm, 370. EDWARD BASS
of the largest issuers of Master- First Manhattan Co., in 1964,
cards in the country, specializing $2.5 BILLION T which now manages over $21 $2.2 BILLION T SELF-MADE SCORE: $
in high-risk borrowers. The Min- SELF-MADE SCORE: * billion in assets. SOURCE: OIL, INVESTMENTS
nesota native started working in SOURCE: VENTURE CAPITAL AGE: 74 RESIDENCE: FORT WORTH, TX
his father’s garment shop at age 8. AGE: 58 RESIDENCE: 363. CLAYTON MATHILE PHILANTHROPY SCORE:
WOODSIDE, CA
At 18 he was sentenced to 90 days
in jail for fighting but was offered PHILANTHROPY SCORE: $2.3 BILLION S SELF-MADE SCORE: & 370. LEE BASS
a lighter sentence by the judge if A longtime partner at Silicon SOURCE: PET FOOD
he agreed to go to college. Sanford Valley’s Accel, through which AGE: 78 RESIDENCE: BROOKVILLE, OH $2.2 BILLION T SELF-MADE SCORE: $
SOURCE: OIL, INVESTMENTS
has given away more than $1.6 bil- he bet early on Facebook, he PHILANTHROPY SCORE:
AGE: 63 RESIDENCE: FORT WORTH, TX
lion to causes such as healthcare started Breyer Capital in 2006 Mathile started out as an ac-
and education. and has invested in AI start- countant for General Motors PHILANTHROPY SCORE:
ups. He is now also co-chair- in the Chevy division in To- With their brothers Robert (No.
355. EVAN WILLIAMS man of IDG Capital, a Chi- ledo, Ohio. He was later em- 140) and Sid (No. 275), the siblings
na-focused VC firm. While at ployee No. 7 at pet food firm sold part of their oil interests to
$2.4 BILLION 3 SELF-MADE SCORE: ( Stanford in 1982, he sent his Iams and bought the busi- ExxonMobil in 2017 for $5.6 bil-
SOURCE: TWITTER résumé to Apple’s Steve Jobs, ness in 1982. Seventeen years lion in stock and up to $1 billion
AGE: 47 RESIDENCE: SAN FRANCISCO who forwarded it to the VP later, he sold Iams to Procter & in future cash payments. Ed is
PHILANTHROPY SCORE: of marketing. He was hired Gamble for $2.3 billion. Today leading the effort to privately fund
The Twitter cofounder left the so- for the summer (Breyer, in he is chairman of Aileron, a more than half of the $540 million
cost of the new Dickies Arena in
cial media giant’s board in Febru- the No. 42 jersey, pictured Dayton-based school that of- Fort Worth. Lee and his wife do-
ary. Once Twitter’s CEO, Williams with friends in Menlo Park fers management training for nated $25 million to Vanderbilt
is now CEO of online publishing during those months) and small business owners, which
stayed on to work part-time last year to support scholarships
platform Medium and cofounder he started with $130 million 11
while he was in college. for veterans.
of Obvious Ventures. The VC firm years ago.

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

370. ANEEL BHUSRI 370. TODD CHRISTOPHER up as geeks. Before founding IT square feet of largely industri-
provider World Wide Technol- al space. He served in the Air
$2.2 BILLION Ì SELF-MADE SCORE: * $2.2 BILLION WX ogy in 1990, Kavanaugh was a Force for eight years and be-
SOURCE: BUSINESS SOFTWARE SELF-MADE SCORE: ( professional soccer player and came the first man to circum-
AGE: 53 RESIDENCE: SAN FRANCISCO SOURCE: HAIR CARE PRODUCTS Olympian. He’s since returned navigate the globe in a heli-
AGE: 57 RESIDENCE: CLEARWATER, FL
PHILANTHROPY SCORE: N.A. to sports as part of the owner- copter in 1982.
PHILANTHROPY SCORE: N.A. ship group for both the Stan-
Bhusri took a job as a corporate fi-
nance analyst at Morgan Stanley From the fourth generation of a ley Cup-winning St. Louis Blues 370. NICHOLAS PRITZKER II
after graduating from Brown. He family of hairdressers, Christo- and USL soccer team St. Louis
later turned down a lucrative gig pher dropped out of high school FC. He’s also bringing a Major $2.2 BILLION 3 SELF-MADE SCORE: #
at a venture capital firm, opting to work at his cousin’s salon and League Soccer team to St. Louis. SOURCE: HOTELS, INVESTMENTS 179
instead to work with Dave Duf- opened his own when he was AGE: 75 RESIDENCE: NICASIO, CA
field (No. 45) at enterprise soft- 22. In 1987 he founded the hair- 370. H. ROSS PEROT JR. PHILANTHROPY SCORE:
ware company PeopleSoft. The care company Vogue Internation- Pritzker returns to The Forbes T
two eventually founded Workday, al. Christopher sold a stake to the $2.2 BILLION T SELF-MADE SCORE: $ 400 after five years thanks to H
a human resources and financial Carlyle Group in 2014. Two years SOURCE: REAL ESTATE an early investment in Juul. E

management software company, later, he and the Carlyle Group AGE: 60 RESIDENCE: DALLAS The e-cigarette maker was val- F
in 2005; he is CEO. sold the entire company to John- PHILANTHROPY SCORE: ued at $38 billion after to- O
son & Johnson for $3.3 billion. The son of the late Ross Perot bacco major Altria acquired B
R
370. CHUCK BUNDRANT Sr., he “got to see the Ameri- a 35% stake in December. E
S
370. JAMES DINAN can Dream unfold” in his liv- Forbes estimates it is worth
4
$2.2 BILLION T SELF-MADE SCORE: * ing room. As a kid, Perot col- less now after several deaths 0
SOURCE: FISHING $2.2 BILLION WX lected computer punch cards from vaping and a possible 0
AGE: 77 RESIDENCE: SEATTLE SELF-MADE SCORE: * from the data centers of Elec- federal ban of flavored e-cig-
SOURCE: HEDGE FUNDS
PHILANTHROPY SCORE: tronic Data Systems, his fa- arettes. Active in California
AGE: 60 RESIDENCE: NEW YORK CITY
Bundrant is chairman and co- ther’s pioneering IT compa- politics, Pritzker backed ballot
PHILANTHROPY SCORE:
founder of Trident Seafoods, the ny. Perot Jr. forged his own initiatives to ban high-capaci-
Dinan founded money manage- way in real estate; Forbes esti- ty gun magazines and to legal-
largest vertically integrated sea- ment firm York Capital Manage-
food company in North America, mates his Hillwood Develop- ize marijuana in 2016; voters
ment in 1991 after losing his life ment Co. owns over 40 million approved both.
with $2.6 billion in estimated rev-
savings in the 1987 Black Mon-
enues and operations in China,
Japan and Germany. Trident sells day stock market crash. As chair- • B E G I N N I N G S •
man and CEO he oversees $19 bil-
Alaskan wild-caught salmon, cod
lion in assets.
and pollock to retailers like Cost-
co and Safeway, and to fast food
chains like Long John Silver’s and 370. BRUCE KARSH
McDonald’s. In 1961, 19-year-old
Bundrant drove from Tennessee to $2.2 BILLION 3 SELF-MADE SCORE: *
SOURCE: PRIVATE EQUITY
Seattle with $80 in his pocket to
AGE: 64 RESIDENCE: LOS ANGELES
start fishing. He eventually made
his way to Alaska, slept on the PHILANTHROPY SCORE:
docks and worked on any fishing
boat that would hire him. 370. HOWARD MARKS
$2.2 BILLION 3 SELF-MADE SCORE: *
370. BEN CHESTNUT SOURCE: PRIVATE EQUITY
AGE: 73 RESIDENCE: NEW YORK CITY
$2.2 BILLION S SELF-MADE SCORE: * PHILANTHROPY SCORE:
SOURCE: EMAIL MARKETING
AGE: 45 RESIDENCE: ATLANTA In May, Brookfield Asset Manage-
ment announced it was acquiring
PHILANTHROPY SCORE:
62% of Oaktree Capital for $4.7 bil-
370. DAN KURZIUS lion to create a $475 billion alterna-
tive-asset powerhouse. Brookfield
$2.2 BILLION S SELF-MADE SCORE: ( bought 20% of shares owned by a
SOURCE: EMAIL MARKETING group of employees including Oak-
AGE: 47 RESIDENCE: ATLANTA tree co-chairmen Karsh and Marks.
PHILANTHROPY SCORE: N.A. The men will remain in their roles
at Oaktree and will share control
Chestnut and Kurzius are the 370. RANDAL KIRK
founders of Mailchimp, an email of the firm’s remaining 38% stake
marketing firm that’s a favorite with other employees. Marks and $2.2 BILLION T SELF-MADE SCORE: *
Karsh started investing together
among small-business owners. Be- SOURCE: PHARMACEUTICALS
in the mid-1980s when they both
fore starting the business, Chest- AGE: 65 RESIDENCE: LAKE WORTH, FL
joined asset manager TCW Group.
nut taught himself to build web- PHILANTHROPY SCORE:
sites by reading technical books Shares of his biotech firm Intrexon, which lost $341 million in 2018,
at Barnes & Noble, and Kurzius 370. JIM KAVANAUGH are down 58% in the past year. Moon shots are costly. Intrexon,
served as a part-time DJ and com- which developed a way to keep apples from browning, is working
$2.2 BILLION Ì SELF-MADE SCORE: (
petitive skateboarder. Mailchimp to create similar technology for romaine lettuce. It is also creating a
SOURCE: IT PROVIDER
began as a side project and took modified species of mosquito that could reduce the spread of malar-
AGE: 57 RESIDENCE: ST. LOUIS
six years to become a full-blown ia. RJ sold greeting cards door-to-door when he was 9 years old,
company; it now generates more PHILANTHROPY SCORE: N.A. the same age as in the above photo with his younger brother; he
than $600 million in revenue. Not all tech billionaires grew claims he had an 85% close rate.


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 •

370. JON YARBROUGH (No. 342) teamed up to raise $400
million through a public offering
$2.2 BILLION WX for a blank check company. Gores
SELF-MADE SCORE: * previously had invested along-
SOURCE: VIDEO GAMES side Metropoulos in Hostess in
AGE: 62 RESIDENCE: FRANKLIN, TN 2016. The Israeli-born Gores has
PHILANTHROPY SCORE: made more than 120 transactions
Last year the gambling-ma- through his Beverly Hills outfit
chine entrepreneur announced The Gores Group. He started in-
he would bankroll the Pamun- vesting after selling his comput-
key tribe’s effort to bring casinos er business in 1986. He launched
180 to Virginia, where commercial that business after lasting six
gambling has long been ille- months at a job at GM.
gal. In February, Virginia’s Gen-
T
S eral Assembly passed a bill that 388. JEFFREY
I might give voters in prospective
L
casino host cities the final say; GUNDLACH
E
H the Virginia Lottery Board must
T $2.1 BILLION Ì SELF-MADE SCORE: *
first deliver an analysis. Yar- SOURCE: INVESTMENTS
brough sold his gambling-ma-
AGE: 60 RESIDENCE: LOS ANGELES
chine maker Video Gaming Tech-
PHILANTHROPY SCORE:
nologies for nearly $1.3 billion
in 2014 to an Australian firm. In In September, Gundlach report-
middle and high school, he deliv- edly placed the odds of a reces-
ered newspapers mornings, af- sion before the 2020 election
388. TED TURNER ternoons and Sundays. at 75%. He has also sounded an
alarm on the boom in passive
$2.1 BILLION T SELF-MADE SCORE: % 388. JAMES CLARK investing. The founder of Dou-
SOURCE: CABLE TELEVISION bleLine Capital, whose flagship
AGE: 80 RESIDENCE: ATLANTA DoubleLine Total Return Fund
$2.1 BILLION T SELF-MADE SCORE: (
PHILANTHROPY SCORE: SOURCE: NETSCAPE, INVESTMENTS is up 5.5% year-to-date, warned
When Turner was 12, he worked for his father’s billboard company, AGE: 75 RESIDENCE: PALM BEACH, FL in July that recent central bank
Turner Advertising. He’s pictured in front of it above. After his fa- PHILANTHROPY SCORE: interventions are tantamount to
ther’s death in 1963, he took control of the business, then rebranded As a Stanford professor in the “trying to cure the sick patient
the firm as Turner Broadcasting. He launched CNN in 1980 but ’80s, Clark developed comput- . . . with more poison.” Gundlach
stepped away from the media industry after selling Turner to Time er image technology that revolu- went to Yale to get a math Ph.D.
Warner for $7.3 billion in 1996. Turner is now America’s second- tionized design. Since cofounding but left to do a stint as a punk
largest individual landowner, with 2 million acres of ranches in five Netscape, Clark has multiplied his rock drummer.
states. Turner has donated more than $1.3 billion to philanthropy. wealth through early investments
in tech giants like Apple, Facebook 388. STANLEY
and Twitter. A more recent bet is HUBBARD
coupon app Ibotta, which was val-
370. BRIAN SHETH runs Sherpalo Ventures, whose ued at $1 billion in August. $2.1 BILLION 3 SELF-MADE SCORE: %
portfolio includes online HR ser- SOURCE: BROADCASTING
$2.2 BILLION Ì SELF-MADE SCORE: ( vice provider Gusto and medical 388. GORDON GETTY AGE: 86 RESIDENCE: ST. PAUL
SOURCE: INVESTMENTS clinic startup Forward. Shriram PHILANTHROPY SCORE:
AGE: 43 RESIDENCE: AUSTIN, TX and his wife donated $57 million $2.1 BILLION WX In 1951, at 17, Hubbard start-
PHILANTHROPY SCORE: to Stanford University in 2014 for SELF-MADE SCORE: @ ed working as a prop person
the Shriram Center for Bioengi- SOURCE: GETTY OIL
He cofounded Vista Equity Part- for stations at the broadcasting
neering & Chemical Engineering. AGE: 85 RESIDENCE: SAN FRANCISCO
ners, which has conducted more company his father founded in
software acquisitions in the past PHILANTHROPY SCORE: 1925. Today he is at the helm of
decade than any other financial 370. VINCENT VIOLA Getty inherited a stake in his fam- Hubbard Broadcasting, which
investor. He grew up lower-mid- ily’s oil company after his father, J. owns 13 television stations and
dle class in a Boston suburb; his $2.2 BILLION T SELF-MADE SCORE: ( Paul Getty, died in 1976. He sold it 45 radio stations across the U.S.
father is an immigrant from India SOURCE: ELECTRONIC TRADING to Texaco for $10 billion in 1984. A
AGE: 63 RESIDENCE: NEW YORK CITY
and his mother Irish-Catholic. His classical music composer, his op- 388. BRADLEY
big break: meeting Robert Smith PHILANTHROPY SCORE: eras have been performed at New
(No. 131) and joining him at Gold- Viola has sold more than $530 York’s Carnegie Hall. He founded JACOBS
man Sachs and then cofounding million worth of shares in his PlumpJack Winery in 1995 with
Vista with him in 2000. electronic trading firm Virtu Fi- Gavin Newsom, now California’s $2.1 BILLION T SELF-MADE SCORE: *
nancial since May 2018. The governor. SOURCE: LOGISTICS
AGE: 63 RESIDENCE: GREENWICH, CT
370. KAVITARK RAM Brooklyn native heads Virtu as
executive chairman, but he’s ex- 388. ALEC GORES PHILANTHROPY SCORE: N.A.
SHRIRAM panding his horizons: He report- Shares of his XPO Logistics
edly dropped $108 million for $2.1 BILLION T SELF-MADE SCORE: ( fell by a third in the past year
$2.2 BILLION WX
SELF-MADE SCORE: ) Arizona’s tallest building in Oc- SOURCE: PRIVATE EQUITY amid short-seller attacks, cus-
AGE: 66 RESIDENCE: BEVERLY HILLS,
SOURCE: VENTURE CAPITAL, GOOGLE tober 2018 and earlier this year tomer cancellations and earn-
splurged on a Ft. Lauderdale CA ings misses. A trained pianist,
AGE: 62 RESIDENCE: MENLO PARK, CA
condo near the NHL’s Florida PHILANTHROPY SCORE: he dropped out of Benning-
PHILANTHROPY SCORE:
Panthers, which Viola has owned In May, Gores and private equi- ton College to start Amerex Oil
An early Google investor, he now since 2013. ty billionaire Dean Metropoulos in 1979.

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

388. VINOD KHOSLA ed online mortgage lender E- 388. CHAD RICHISON Anheuser-Bush InBev purchased
Loan in 1996 and peer-to-peer SABMiller for $107 billion.
$2.1 BILLION T SELF-MADE SCORE: * lender Prosper in 2005. He $2.1 BILLION Ì SELF-MADE SCORE: *
SOURCE: VENTURE CAPITAL launched blockchain company SOURCE: PAYROLL PROCESSING 388. ELAINE WYNN
AGE: 64 RESIDENCE: PORTOLA Ripple Labs seven years later; it AGE: 49 RESIDENCE: EDMOND, OK
VALLEY, CA now counts American Express PHILANTHROPY SCORE: $2.1 BILLION T SELF-MADE SCORE: *
PHILANTHROPY SCORE: and Santander as clients. In SOURCE: CASINO, HOTELS
A former senior manager at ADP,
A big believer in the power of ar- May 2018, some XRP token in- Richison founded payroll servic- AGE: 77 RESIDENCE: LAS VEGAS
tificial intelligence, Khosla told a vestors filed a class action law- es provider Paycom in 1998 and PHILANTHROPY SCORE:
crowd in Toronto in June that he suit, alleging that Ripple sold its took the business public five years The Queen of Las Vegas is now
thinks AI could replace radiolo- digital tokens as unregistered ago. Paycom’s stock rose 60% in firmly in control of Wynn Re-
gists and traditional music over securities; Ripple has filed to the past year. sorts. In 2018 her ex-husband, 181
the next ten years. His Khosla dismiss the case. In April, Lars- Steve (No. 275), resigned and di-
Ventures has invested in Impossi- en and his foundation gifted 388. JULIO MARIO SANTO vested his stake in the compa-
ble Foods, the much-touted maker $25 million, largely in XRP, to ny following allegations of sexu- T
H
of meats and dairy products made San Francisco State University. DOMINGO III al misconduct, which he denied. E

from plants. After getting his The Massachusetts Gaming F
M.B.A. from Stanford, he cofound- 388. HENRY LAUFER $2.1 BILLION 3 SELF-MADE SCORE: ! Commission authorities fined O
R
ed Daisy Systems, the first signif- SOURCE: BEER Wynn Resorts $35 million in late B
icant computer-aided design sys- $2.1 BILLION Ì SELF-MADE SCORE: * AGE: 34 RESIDENCE: NEW YORK CITY April for covering up the allega- E
S
tem for electrical engineers, and SOURCE: HEDGE FUNDS PHILANTHROPY SCORE: tions while it was applying for a
later started Sun Microsystems. AGE: 74 RESIDENCE: LAKE WORTH, FL An heir to one of the world’s larg- license to open a new $2.6 bil- 0
4
PHILANTHROPY SCORE: est beer fortunes, Santo Domin- lion casino near Boston. She tes- 0
388. CHRIS LARSEN A math professor at Stony Brook go moonlights as a DJ for the tified at the trial that she told
University for two decades, New York City-based group Sheik Wynn Resort’s general counsel in
$2.1 BILLION WX Laufer joined legendary quanti- ‘N’ Beik. He inherited his for- 2009 that her ex paid $7.5 mil-
SELF-MADE SCORE: * tative hedge fund Renaissance tune from his late grandfather, lion to an accuser. While Elaine
SOURCE: CRYPTOCURRENCY Technologies in 1992. He was also named Julio Mario, who re- was still in college, she worked
AGE: 59 RESIDENCE: SAN FRANCISCO
its chief scientist and vice pres- ceived a stake in SABMiller after at her future father-in-law’s
PHILANTHROPY SCORE: ident of research until retiring it acquired the family’s Colombian bingo parlor in Upper Marlboro,
The crypto billionaire cofound- in 2009. brewery Bavaria in 2005. In 2016 Maryland.




METHODOLOGY


This is the 38th edition of the flagship Forbes 400 list. Though we’ve been at it a long time, our reporters always dig deep to uncover new details.
This year we started with a list of more than 700 candidates and got to work.
When possible, we met with Forbes 400 members and candidates in person or spoke with them by phone. We also interviewed their employees,
handlers, rivals, peers and attorneys. Uncovering their fortunes required us to pore over thousands of SEC documents, court records, probate re-
cords and news articles. We took into account all types of assets: stakes in public and private companies, real estate, art, yachts, planes, ranches,
vineyards, jewelry, car collections and more. We factored in debt and charitable giving. While some billionaires provided documentation for their
private assets and companies, others were less forthcoming. To value private businesses, we couple revenue or profit estimates with prevailing
price-to-sales or price-to-earnings ratios for similar public companies and apply a 10% discount, or more in cases where information is scarce.
We purposely excluded dispersed family fortunes, but we did include wealth belonging to a member’s immediate family if the wealth could be
traced to a living founder of the fortune. In that case you’ll see “& family.” We also include married couples who built fortunes and businesses to-
gether if their combined net worth was enough for each person to make the $2.1 billion cutoff. In those instances, we list both names. Besides wealth,
we also ranked each member based on their generosity and self-made prowess.

Philanthropy score: First, we estimated each billionaire’s total lifetime giving, delving into public filings, tax forms, press reports and more. Next
we looked at what percentage of their wealth they had given away. We weighed these two factors equally and scored people accordingly. Some
individuals were then bumped up or down based on several other factors, including whether they had signed the Giving Pledge, whether they had
pledged significant donations, how personally involved they were in their charitable giving, and how quickly and effectively their private founda-
tions distributed dollars.
We didn’t count pledges or announced gifts that have yet to be paid out. Some billionaires worked with Forbes; others refused to cooperate, citing
privacy concerns and/or religious beliefs. List members about whom we could find no charitable giving information received an N.A. (not avail-
able). Some of our lifetime-giving estimates may be low due to a lack of transparency and anonymous gifts. For a complete methodology of each
philanthropy score, please visit www.forbes.com/philanthropy-score.
Self-made score: The list members are also ranked on a scale of 1 to 10 to acknowledge that some individuals have traveled further in their life’s
journey to make it into the ranks and to capture how self-made they really are. A 10 is reserved for people who not only grew up poor but overcame
significant obstacles in their climb to the top, such as Oprah Winfrey, who was born to a single teen mother and survived sexual abuse as a child.
People like Mark Zuckerberg and Bill Gates who came from middle or upper-middle class families rank as 8s, while someone who completely in-
herited their fortune and has done nothing much with it ranks as a 1. For a full explanation of each self-made score, please go to www.forbes.com/
self-made-score.

The Forbes 400 is a list of American citizens who own assets in the U.S. Our estimates are a snapshot of each member’s wealth as of September 6,
2019; we used closing stock prices and currency exchange rates from that day. Some of The Forbes 400 will get richer or poorer within weeks or even
days of publication. We track those changes online in our Real Time rankings at www.forbes.com/real-time-billionaires.


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

NAME WORTH($BIL) PAGE #

ACTON, BRIAN $2.5 175 COMMISSO, ROCCO $5 146 GUNDLACH, JEFFREY $2.1 180 LARSEN, CHRIS $2.1 181
ADELSON, SHELDON $34.5 122 CONWAY, WILLIAM JR $3.1 170 GUSTAVSON, TAMARA $5.7 143 LAUDER, AERIN $2.7 175
ANSCHUTZ, PHILIP $11.5 126 COOK, CARL $9.7 128 HAGEN, THOMAS $3.9 160 LAUDER, JANE $4.3 156
ARGYROS, GEORGE & FAMILY $2.5 175 COOK, SCOTT $3.5 168 HAMM, HAROLD & FAMILY $8.8 129 LAUDER, LEONARD $18.8 124
ARISON, MICKY $8.1 129 COOPERMAN, LEON G. $3.2 169 HANKEY, DON $3.1 171 LAUDER, RONALD $4.3 156
ARNOLD, JOHN $3.3 169 COULTER, JIM $2.6 174 HARRIS, JOSHUA $4.4 154 LAUDER, WILLIAM $2.8 173
ARRILLAGA, JOHN $2.5 175 CUBAN, MARK $4.1 159 HASLAM, JIMMY $2.9 171 LAUFER, HENRY $2.1 181
ASHKENAZY, BEN $3.8 161 DALIO, RAY $18.7 124 HASTINGS, REED $3.5 169 LAUREN, RALPH $6.3 143
ASNESS, CLIFFORD $2.8 172 DANGERMOND, JACK $4.4 154 HENDRICKS, DIANE $7 130 LAURIE, NANCY WALTON $6.7 132
182
AUSTIN, BILL $2.4 176 D’ANIELLO, DANIEL $3.1 170 HENRY, JOHN $2.7 174 LEE, THAI $3 171
AVARA, DANNINE $6.3 134 DAVIS, JIM $3 132 HILDEBRAND, JEFFERY $3.8 161 LEFKOFSKY, ERIC $2.8 173
BALLMER, STEVE $51.7 121 DAVIS, JIM & FAMILY $6.7 171 HOSTETTER, AMOS JR $3.6 162 LEFRAK, RICHARD & FAMILY $4.1 159
X
E BARON, RON $2.4 176 DAVIS, RAY $2.3 178 HUANG, JENSEN $4.2 158 LEONE, DOUGLAS $3.8 161
D
N BASS, EDWARD $2.2 178 DEBARTOLO, EDWARD JR $2.7 173 HUBBARD, STANLEY $2.1 180 LEPRINO, JAMES $3.6 162
I
BASS, LEE $2.2 178 DEJORIA, JOHN PAUL $3.1 170 HUGHES, B. WAYNE $2.8 173 LERNER, TED & FAMILY $5.1 144
E
H BASS, ROBERT $4.9 146 DELL, MICHAEL $32.3 122 HUNT, JOHNELLE $3 171 LIEBMANN, MARIANNE $3.6 162
T BASS, SID $3.1 170 DILLER, BARRY $4.2 158 HUNT, RAY LEE $5.2 144 LIEMANDT, JOSEPH $3 171
BEAL, ANDREW $9.8 128 DINAN, JAMES $2.2 179 HUNT, W. HERBERT $2.6 175 LOEB, DANIEL $2.8 173
BECHTEL, RILEY & FAMILY $2.5 175 DOERR, JOHN $7.5 129 ICAHN, CARL $17.6 124 LOVE, TOM & JUDY $7.8 129
BECHTEL, STEPHEN JR $2.5 175 DOLAN, CHARLES & FAMILY $5.3 144 ILITCH, MARIAN $3.7 161 LUCAS, GEORGE $6.2 134
BENIOFF, MARC $6.5 132 DOLBY, DAGMAR & FAMILY $4.2 158 INGRAM, MARTHA & FAMILY $5.8 143 LURIE, JEFFREY $2.7 174
BENSON, GAYLE $3.1 170 DORRANCE, BENNETT $2.8 172 IRSAY, JAMES $3 171 MACMILLAN, WHITNEY $5.1 144
BERKLEY, WILLIAM $2.6 174 DORSEY, JACK $4.2 158 JACOBS, BRADLEY $2.1 180 MALONE, JOHN $7.3 130
BEVERIDGE, BERT $4.2 156 DRUCKENMILLER, STANLEY $4.7 154 JACOBS, JEREMY SR & FAMILY $4.3 156 MALONE, MARY ALICE DORRANCE $3.5 166
BEZOS, JEFF $114 119 DUFFIELD, DAVID $10.7 126 JANNARD, JAMES $2.8 173 MANDEL, STEPHEN JR $2.8 173
BEZOS, MACKENZIE $36.1 122 DUNCAN, SCOTT $6.3 134 JOHNSON, ABIGAIL $14 124 MANSUETO, JOE $3.9 160
BHUSRI, ANEEL $2.2 179 ELLISON, LARRY $65 120 JOHNSON, CHARLES B. $4.9 146 MARCUS, BERNARD $6.4 134
BIRMINGHAM PEROT, MARGOT $4.2 158 EMMERSON, ARCHIE ALDIS & FAMILY $2.8 172 JOHNSON, EDWARD III $7 130 MARKS, HOWARD $2.2 179
BISCIOTTI, STEPHEN $4.5 154 ENGLANDER, ISRAEL $6.6 132 JOHNSON, EDWARD IV $3.2 169 MARS, JACQUELINE $29.7 122
BISHOP, GEORGE $2.4 176 ERGEN, CHARLES $10.8 126 JOHNSON, ELIZABETH $3.2 169 MARS, JOHN $29.7 122
BLACK, LEON $7.7 129 FAULKNER, JUDY $3.8 161 JOHNSON, H. FISK $3.9 160 MARS, MARIJKE $7.4 130
BLANK, ARTHUR $5.5 143 FERTITTA, TILMAN $4.9 146 JOHNSON, RUPERT JR $4 159 MARS, PAMELA $7.4 130
BLAVATNIK, LEN $18.3 124 FILO, DAVID $4.3 156 JOHNSON, S. CURTIS $3.9 160 MARS, VALERIE $7.4 130
BLECHARCZYK, NATHAN $4.2 158 FISHER, DORIS $2.4 176 JOHNSON-LEIPOLD, HELEN $3.9 160 MARS, VICTORIA $7.4 130
BLOOMBERG, MICHAEL $53.4 121 FISHER, JOHN $2.5 176 JOHNSON-MARQUART, WINIFRED $3.9 160 MATHILE, CLAYTON $2.3 178
BLUE, NEAL & FAMILY $4.1 158 FISHER, KEN $3.9 160 JONES, JERRY $8.6 128 MCLANE, DRAYTON JR $2.6 175
BLUHM, NEIL $3.9 160 FORD, GERALD $2.3 178 JONES, PAUL TUDOR II $5 154 MCMAHON, VINCENT $2.9 172
BONDERMAN, DAVID $3.7 161 FRANTZ, MILANE $6.3 134 KAISER, GEORGE $7 132 MCNAIR, JANICE $4 159
BOYLE, TIMOTHY $2.6 174 FRIEDKIN, DAN $4 159 KALANICK, TRAVIS $3.5 166 MEIJER, HANK & DOUG $9.5 128
BRAMAN, NORMAN $2.5 176 FRIST, THOMAS JR & FAMILY $11.5 126 KAO, MIN & FAMILY $3.8 161 MENARD, JOHN JR $11.5 126
BRAVO, ORLANDO $3 171 GANGWAL, RAKESH $3.8 161 KARSH, BRUCE $2.2 179 METROPOULOS, C. DEAN $2.5 176
BREN, DONALD $17 124 GARCIA, ERNEST II $5.7 143 KAVANAUGH, JIM $2.2 179 MEYER, GWENDOLYN SONTHEIM $4 159
BREYER, JIM $2.5 178 GARCIA, ERNEST III $2.3 178 KEINATH, PAULINE MACMILLAN $6.3 134 MIDDLETON, JOHN $3.3 169
BRIN, SERGEY $53.5 121 GASSNER, PETER $2.7 173 KELLEY, BRAD $2.4 178 MILKEN, MICHAEL $3.7 161
BROAD, ELI $6.8 132 GATES, BILL $106 120 KELLOGG, PETER $3.4 168 MOORE, GORDON $10.3 128
BROWN, JOHN $4.7 146 GEBBIA, JOE $4.2 158 KEMPER, DIANE $3.4 168 MORENO, ARTURO $3.3 169
BUFFETT, WARREN $80.8 120 GEFFEN, DAVID $7.9 129 KENNEDY, JIM $9.6 128 MORITZ, MICHAEL $3.5 166
BUNDRANT, CHUCK $2.2 179 GETTY, GORDON $2.1 180 KHAN, SHAHID $7.8 130 MORRIS, JOHN $3.8 161
CARGILL, AUSTEN II $3.6 162 GILBERT, DANIEL $6.5 134 KHOSLA, VINOD $2.1 181 MOSKOVITZ, DUSTIN $11.6 126
CARGILL, JAMES II $3.6 162 GOLDMAN, ALLAN $3.4 168 KINDER, RICHARD $7.5 129 MURDOCH, RUPERT & FAMILY $19.1 122
CARUSO, RICK $4.2 158 GOLDMAN, JANE $3.4 168 KIRK, RANDAL J. $2.2 179 MURPHY, BOBBY $3.7 162
CATHY, BUBBA $5.7 143 GOLDMAN FOWLER, AMY $3.4 168 KNIGHT, PHIL & FAMILY $35.9 122 MUSK, ELON $19.9 124
CATHY, DAN $5.7 143 GOLISANO, TOM $3.9 160 KOCH, CHARLES $41 122 NEWELL, GABE $3.5 166
CATSIMATIDIS, JOHN $2.7 174 GOODNIGHT, JAMES $7.2 130 KOCH, JULIA & FAMILY $41 122 NEWHOUSE, DONALD $12.8 126
CHAMBERS, JAMES $6.4 134 GORES, ALEC $2.1 180 KOHLER, HERBERT JR & FAMILY $7.2 130 NICHOLAS, HENRY III $4.1 159
CHAUDHRY, JAY $3.6 162 GORES, TOM $5.6 143 KOUM, JAN $10.1 128 OCH, DANIEL $3.2 169
CHESKY, BRIAN $4.2 158 GOTTESMAN, DAVID $2.3 178 KOVNER, BRUCE $5.3 144 OLENICOFF, IGOR $4.3 156
CHESTNUT, BEN $2.2 179 GOTTESMAN, NOAM $3.1 170 KRAFT, ROBERT $6.9 134 OMIDYAR, PIERRE $13.1 126
CHRISTOPHER, TODD $2.2 179 GRAY, JONATHAN $3.6 162 KRAVIS, HENRY $6 143 OVERDECK, JOHN $6.1 134
CLARK, JAMES $2.1 180 GREEN, DAVID & FAMILY $7.4 130 KROENKE, ANN WALTON $7.5 130 PAGE, LARRY $55.5 121
COHEN, CHARLES $3.5 166 GREENE, JEFF $3.9 160 KROENKE, STANLEY $9.7 128 PARKER, SEAN $2.7 174
COHEN, STEVE $13.6 126 GRENDYS, JOSEPH $2.5 176 KURZIUS, DAN $2.2 179 PARRY-OKEDEN, BLAIR $9.6 128
COLEMAN, CHASE III $4.5 154 GRIFFIN, KEN $12.7 126 LANGONE, KEN $4 159 PARSONS, BOB $2.7 174


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

BACK-TO-SCHOOL





ESSENTIALS








WHAT YOU NEED TO SURVIVE A SCHOOL SHOOTING






















6 99 6 99 THROWING
STAPLER
Good for
throwing
at shooters










NEW
35 99 SMASHING
SECURITY SKATEBOARD

Shatter
SCISSORS any windows
to escape
Handy if a shooter

you need
to defend
yourself

against
a school
shooter

65 99 ESCAPE
SNEAKERS

Great for
outrunning
any school
shooter















The only real back-to-school essential is learning the signs
so you can stop school shootings before they happen.
Learn more at SandyHookPromise.org.

NAME WORTH($BIL) PAGE #

PAUL, JAY $3.5 166 ROLLINS, GARY $3.7 162 SIMON, HERB $3.4 168 TYSON, JOHN $2.7 174
PAULSON, JOHN $4.2 158 ROLLINS, RANDALL $3.6 162 SIMONS, JIM $21.6 124 UDVAR-HAZY, STEVEN $4.1 159
PEERY, RICHARD $2.8 173 ROSKI, EDWARD JR $5.5 143 SIMONYI, CHARLES $3.4 168 VANDERSLOOT, FRANK $3.7 162
PEGULA, TERRENCE $4.9 146 ROSS, STEPHEN $7.6 129 SINGER, PAUL $3.5 168 VIOLA, VINCENT $2.2 180
PERA, ROBERT $6.4 134 ROTHSCHILD, JEFF $2.9 172 SKOLL, JEFF $5 146 VULTAGGIO, DON & FAMILY $3.2 170
PERELMAN, RONALD $7.7 129 ROWAN, MARC $3.6 166 SMIDT, ERIC $4.1 159 WADHWANI, ROMESH T. $3.3 169
PERLMUTTER, ISAAC $5.1 144 ROWLING, ROBERT $5.5 143 SMITH, FRED $3.8 161 WALENTAS, DAVID $2.5 176
PEROT, H. ROSS JR $2.2 179 RUBENSTEIN, DAVID $3.1 170 SMITH, ROBERT F. $5 146 WALTER, MARK $3.3 169
PETERFFY, THOMAS $17.5 124 RUBIN, MICHAEL $2.9 172 SNYDER, DAN $2.6 175 WALTON, ALICE $51.4 122
184 POWELL JOBS, LAURENE & FAMILY $21.3 124 RUFFIN, PHIL $2.7 174 SNYDER, LYNSI $3.6 166 WALTON, CHRISTY $8.5 128
PRITZKER, ANTHONY $3.5 168 RYAN, PATRICK $3.3 169 SOBRATO, JOHN A. & FAMILY $6.7 132 WALTON, JIM $51.6 121
PRITZKER, DANIEL $2.5 176 SABAN, HAIM $2.9 172 SOLOW, SHELDON $4.6 154 WALTON, LUKAS $18.1 124
X
E PRITZKER, J.B. $3.4 168 SALL, JOHN $3.6 166 SOON-SHIONG, PATRICK $6.7 132 WALTON, ROB $51.3 122
D PRITZKER, JEAN (GIGI) $3.2 169 SAMUELI, HENRY $4.6 154 SOROS, GEORGE $8.6 128 WANEK, RONALD $3.4 169
N
I PRITZKER, JOHN $2.6 175 SANDS, RICHARD $3.1 170 SPEYER, JERRY $4 159 WARNER, TY $2.9 172

E PRITZKER, KAREN $5 146 SANDS, ROBERT $2.9 172 SPIEGEL, EVAN $3.6 166 WARREN, KELCY $4.3 156
H
T PRITZKER, NICHOLAS II $2.2 179 SANFORD, T. DENNY $2.4 178 SPIELBERG, STEVEN $3.6 166 WASHINGTON, DENNIS $6.3 144
PRITZKER, PENNY $2.8 173 SANTO DOMINGO, ALEJANDRO $4.3 156 STEPHENS, WARREN $2.5 176 WEINER, RUSS $3.9 160
PRITZKER, THOMAS $4 160 SANTO DOMINGO, ANDRES $4.3 156 STERLING, DONALD $3.8 161 WERTHEIM, HERBERT $3.1 170
RAGON, PHILLIP T. (TERRY) $2.4 178 SANTO DOMINGO, JULIO MARIO III $2.1 181 STERN, LEONARD $4.8 146 WEXNER, LES & FAMILY $4.4 156
RAHR, STEWART $2.3 178 SAUL, BERNARD II $3.4 168 STEVENS, MARK $2.7 174 WHITMAN, MEG $3.7 162
RALES, MITCHELL $4.4 154 SCHMIDT, ERIC $14.2 126 STEWARD, DAVID $3.5 168 WILLIAMS, EVAN $2.4 178
RALES, STEVEN $6.9 132 SCHMIEDING, REINHOLD $6.6 132 STINE, HARRY $5 146 WILLIAMS, RANDA DUNCAN $6.3 134
RAYNER, KATHARINE $6.4 134 SCHULTZ, HOWARD $4.7 154 STRYKER, JON $4 160 WINFREY, OPRAH $2.7 176
REDSTONE, SUMNER $4.1 159 SCHULZE, RICHARD $3.8 161 STRYKER, PAT $2.9 172 WOOD, ANTHONY $3.9 161
REES-JONES, TREVOR $3.7 162 SCHUSTERMAN, LYNN $3.4 168 STRYKER, RONDA $6.1 143 WRIGLEY, WILLIAM JR $3 171
RENNERT, IRA $3 171 SCHWAB, CHARLES $7.7 129 SUN, DAVID $5.5 144 WYNN, ELAINE $2.1 181
RESNICK, STEWART AND LYNDA $9 128 SCHWARZMAN, STEPHEN $17.7 124 SUTTON, JEFF $4.1 159 WYNN, STEVE $3.1 171
RESSLER, ANTONY $2.8 173 SCOTT, WALTER JR & FAMILY $4.5 154 SWEENEY, TIM $4.5 154 YANG, JERRY $2.6 175
REYES, J. CHRISTOPHER $6.7 132 SECUNDA, THOMAS $2.7 174 TAYLOR, GLEN $2.9 172 YARBROUGH, JON $2.2 180
REYES, JUDE $6.7 132 SHAW, DAVID $7.3 130 TAYLOR, MARGARETTA $6.4 134 YORK, DENISE & FAMILY $3.2 170
RICH, ROBERT JR $4.3 156 SHETH, BRIAN $2.2 180 TEPPER, DAVID $12 126 ZELL, SAM $5.5 144
RICHISON, CHAD $2.1 181 SHOEN, E. JOE $2.7 174 THIEL, PETER $2.3 178 ZIFF, DANIEL $5 146
RICKETTS, J. JOE & FAMILY $2.6 175 SHOEN, MARK $3.3 169 TREFLER, ALAN $2.8 173 ZIFF, DIRK $5 146
RINEY, RODGER $3.6 162 SHRIRAM, KAVITARK RAM $2.2 180 TRUMP, DONALD $3.1 170 ZIFF, ROBERT $5 146
ROBERTS, GEORGE $6.1 143 SIEBEL, THOMAS $3 171 TU, JOHN $5.5 144 ZUCKERBERG, MARK $69.6 120
ROBERTSON, JULIAN JR $4.4 156 SIEGEL, DAVID $6.1 134 TURNER, TED $2.1 180 ZUCKERMAN, MORTIMER $2.9 172




Acknowledgments


Special thanks to: FactSet; PitchBook Data; PropertyShark; Real Capital Analytics; Reonomy; and S&P Global Market Intelligence. All those
who helped us with our reporting and valuations: Hilda Allen, Hilda W. Allen Real Estate; Eric Michael Anton, Marcus & Millichap; Rusty
Braziel, RBN Energy; Ronald Buss, Buss Shelger Associates; Justin Byers, Lagniappe Labs; John Colannino, American Forest Management;
Brendan Doherty; Euromonitor International; Bryce Erickson, Mercer Capital; Truman Fleming, VegasParadiseHomes.com; Whitney Gallivan,
Boston Realty Advisors; Ted Gibson, InfoNation, Inc.; Anthony Graziano, Integra Realty Resources; Ed Hirs, Hillhouse Resources; Inside Mort-
gage Finance; Arun Jagtiani, Island Real Estate Team; Dan Jennings, The Private Jet Company; Ann Marie Joel, Ritchie Commercial; Kevin
Kamen, Kamen & Co.; John Kilpatrick, Greenfield Advisors; Jay Luchs, Newmark Knight Frank; Donald MacKay, Forest Research and Valu-
ation; Doug Main, CBRE; Mark Malick, Realty Resource; Jack McCabe, McCabe Research & Consulting; Ali Mogharabi, Morningstar; Matt
Ochalski, Comprehensive Commercial Real Estate Solutions; Joel Paige, Kingsmill Resort; Antonio Pomata, St. Maarten Investments; Joshua
Swank, NAI Partners; Devin Thorpe; Sam Tucker, VesselsValue; Larry Walsh, The 2112 Group; Bryan Younge, Newmark Knight Frank.



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O C T O B E R 3 1 , 2 0 1 9
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Sport Clips Haircuts Marco’s Pizza
Sport Clips Haircuts offers high-demand services and a stable, Marco’s Pizza is an award-winning franchise opportunity
scalable business opportunity. Its manager-managed model with 40 years in business. As the only national pizza fran-
frees franchisees to work on and not in the business. This chise founded by a native Italian, it has carved out a niche
works for professionals seeking to exit their career over time in the industry for authentic Italian quality pizza. Recog-
with a risk buffering strategy. Sport Clips provides compre- nized as one of the fastest-growing franchises, it is on track
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franchise owners to help grow its
Sport Clips’ proprietary systems, strong leadership, and chari- nationwide footprint as it remains
table partnerships create a win-win for franchisees seeking a committed to being the partner
solid business that allows them to of choice, pizza of choice and
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Express Employment Professionals TeamLogic IT
Express Employment Professionals puts people to work. TeamLogic IT provides businesses with technology support
It generated $3.56 billion in sales and employed a record services ranging from simple computer support to managed
566,000 people in 2018 and has a long-term goal to put a IT services and project outsourcing. A comprehensive suite
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maintenance, cloud services, data backup and recovery,
Express has nearly 200 remaining territories and with two business continuity, and data & voice connectivity. Virtually
business models plus a $25,000 incentive for opening a new every business in the U.S. depends on technology, and all
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FASTSIGNS International, Inc.
As a growing $29 billion industry, signage and
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need to inform, direct, and sell — and FASTSIGNS
International, Inc. is the leading sign and visual
communications franchisor in North America,
with more than 700 independently owned and
operated centers in nine countries. FASTSIGNS is
known in the industry for equipping its franchisees
with tools to help them succeed and continues to
be recognized for its exceptional franchisee sat-
isfaction. FASTSIGNS has a special incentive for
first responders, including paramedics, emergency

medical technicians, police officers, sheriffs, and
firefighters, which includes a 50 percent reduc-
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“After being a first responder for 38 years, I was
looking for a change that challenged me,” says

franchisee Russ Mason. “Many first responders are very mechanically inclined and business-minded, and the FASTSIGNS
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als. FASTSIGNS gives you the tools to be successful and supports its
franchisees by giving you the best opportunity for successful growth.”




























College Nannies + Sitters + Tutors Elements Massage
Build a business with purpose. With constant innovation, a convenient membership model
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nationwide. We are also the fastest growing in-home childcare Elements Massage brand tailors the therapeutic experience to
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vider. In this partnership, CNS+T provides sitters to over 1,100 massage therapist. Today, with approximately 250 locations
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Learn more: collegenannies.com Elements Massage brand has grown
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THOUGHTS ON






Listening
“All man’s life among men is “There is a vast melody
nothing more than a battle for woven of a thousand voices
the ears of others.” that never leaves you and
190 Milan Kundera only occasionally leaves room
for your solo.”
“Most people do not listen with Rainer Maria Rilke
the intent to understand; they
listen with the intent to reply.” “You cannot truly listen to
Stephen R. Covey anyone and do anything else
at the same time.”

“A good listener is not someone M. Scott Peck
who has nothing to say. A good
listener is a good talker with a “You can’t fake listening.
sore throat.” It shows.”
Katharine Whitehorn Raquel Welch


“We have two ears and one “The heart of the discerning
mouth, so we should listen acquires knowledge, for the
more than we speak.” ears of the wise seek it out.”
Epictetus Proverbs 18:15


“There’s nothing like “If you don’t listen to
eavesdropping to show you your customers, someone
that the world outside your else will.”
head is different from the Sam Walton

world inside your head.”
Thornton Wilder
“Listening is a primitive act
of love, in which a person
“The art of conversation is Talk Less, Hear Moore: gives self to another’s word.”

the art of hearing as well September 11, 1995 William Stringfellow
as the art of being heard.”
William Hazlitt

He was a true multi-hyphenate, a physicist-billionaire- “She said the music made her
entrepreneur. Gordon Moore was also a man with a knack wonder: Does it alter us more
“Your dreaming self seeks for keeping his eyes and ears open. “A lot of people listen to be heard, or to hear?”
to tell you something your with their mouths,” said Andy Grove, CEO of Intel, the Madeleine Thien
waking ears will not hear.”
company cofounded by Moore 27 years before. “Gordon
Jacqueline Carey
really listens.” Intel was a $54 billion behemoth, the epi-
center of the microchip revolution, and Moore had helped
“The eyes can choose where
to look. But the ears cannot create the company not by “studying management texts”
choose where to listen.” but by quietly observing mistakes committed by his for- FINAL THOUGHT
Ursula K. Le Guin mer companies, semiconductor makers Fairchild and
Shockley. Among the lessons he gathered through careful
“I hear the chorus; it is a listening: Minimize bureaucracy, raise money before you
grand opera. Ah, this indeed is need it and hold regular one-on-one meetings with subor-
music—this suits me.”
dinates in which the direct reports set the agenda. “Such
Walt Whitman
sessions,” he concluded with his trademark succinctness,


“are very efficient for transferring information.” His ef-
“Speak to me. I will spend my forts established enduring success, both for him person-
lifetime trying to understand
you.” ally and for Intel. With Intel stock near its dot-com-era
highs, Moore, now 90, sits at No. 46 on this year’s Forbes
Kamand Kojouri
400 with a $10.3 billion fortune.
“The word ‘listen’ contains SOURCES: THE BOOK OF LAUGHTER AND FORGETTING, BY MILAN KUNDERA; THE “Listening often pays

the same letters as the MATCHMAKER, BY THORNTON WILDER; THE 7 HABITS OF HIGHLY EFFECTIVE PEOPLE, better than talking.”

BY STEPHEN R. COVEY; SELECTED ESSAYS, BY WILLIAM HAZLITT; KUSHIEL’S CHOSEN, BY
word ‘silent.’ ” JACQUELINE CAREY; GIFTS, BY URSULA K. LE GUIN; “SONG OF MYSELF,” BY WALT WHITMAN;
LETTERS ON LIFE, BY RAINER MARIA RILKE; THE ROAD LESS TRAVELED, BY M. SCOTT PECK; —B.C. Forbes
Alfred Brendel COUNT IT ALL JOY, BY WILLIAM STRINGFELLOW; DO NOT SAY WE HAVE NOTHING, BY
MADELEINE THIEN
O C T O B E R 3 1 , 2 0 1 9
F O R B E S . C O M

C L E R M O N T
K . Y. U. S.





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