Forbes: 5 Minnesotans Among 400 Wealthiest Americans
Forbes on Wednesday released its annual list of the 400 wealthiest men and women in the United States—including five Minnesotans, the wealthiest of whom ranked 92nd in the nation.
According to Forbes, the five richest Minnesotans, along with their rank, net worth, and source of wealth, are:
92nd: Barbara Carlson Gage, 70, of Long Lake—$4 billion net worth. Her father, Curt Carlson, founded Minnetonka-based Carlson in the 1930s, and she now co-owns the company with her sister, Marilyn Carlson Nelson.
92nd: Marilyn Carlson Nelson, 73, Long Lake—$4 billion net worth. Currently co-owner and chairman of the board at Carlson, she was formerly CEO. Carlson Nelson also teaches at the University of Minnesota.
132nd: Whitney MacMillan, 83, Minneapolis—$3 billion net worth. Former CEO of Wayzata-based Cargill, Inc., MacMillan and five relatives co-own a majority of the agribusiness giant.
229th: Stanley Hubbard, 79, St. Paul—$2.1 billion net worth. Hubbard is CEO and chairman of St. Paul-based Hubbard Broadcasting Inc., as well as creator of ReelzChannel, a movie information and trivia channel.
285th: Glen Taylor, 71, Mankato—$1.7 billion net worth. Taylor owns Mankato-based Taylor Corporation, a commercial printing, packaging, and marketing company. He is also the majority owner of the Minnesota Timberwolves. (Read more about Taylor in Twin Cities Business' October cover story.)
Carlson Nelson and Carlson Gage climbed the furthest of any Minnesotans on this year’s list: They tied for 117th place last year and ranked 252nd in 2010. MacMillan also rose in the list, up from 150th place last year. Both Taylor and Hubbard dropped in this year’s rankings.
There is one fewer Minnesotan on the list this year, as Best Buy founder Richard Schulze is now listed as a Florida resident. Last year, he ranked 212th with $2 billion in net worth. Schulze—who stepped down as Best Buy chairman in June and is pursuing a private takeover—dropped this year to 311th with a net worth of $1.5 billion.
The top three Americans on Forbes’ list all saw an increase in net worth this year. Microsoft founder Bill Gates topped the list for the 19th year, and his net worth increased from $59 billion in 2011 to $66 billion in 2012. He was followed by investor Warren Buffet, worth $46 billion, and Oracle CEO Larry Ellison, worth $41 billion.
Facebook co-founders Dustin Moskovitz and Mark Zuckerberg were the list’s youngest billionaires, worth $2.7 billion and $9.4 billion, respectively. Both are 28 years old.
To view the full list, click here.