Six Minnesotans Make Forbes’ Billionaires List
The number of billionaires in the world has increased since last year, but the number of billionaires in Minnesota has remained the same, according to a list recently published by Forbes magazine.
Six Minnesotans-the same ones who were on Forbes' 2011 list-were listed again this year and are among 1,226 billionaires in the world. They are familiar names and include the heirs of two of the state's largest private companies-Cargill, Inc., and Carlson.
Those individuals-along with their respective rankings, their net worth, and how they amassed their fortunes-are:
- 344: Whitney MacMillan (age 83 of Minneapolis)-$3.3 billion net worth. He is one of seven billionaire relatives who own a majority of agricultural giant Cargill, Inc., where he served as CEO for 18 years. His net worth is down from last year when it totaled $4.7 billion.
- 491 (tie): Barbara Carlson Gage (age 69 of Minneapolis)-$2.5 billion net worth. Her father, Curt Carlson, founded Carlson Companies (later shortened to Carlson); she runs the company's family foundation. Her net worth is up from last year's $1.6 billion.
- 491 (tie): Marilyn Carlson Nelson (age 72 of Minneapolis)-$2.5 billion net worth. She is Gage's older sister and served as CEO of Carlson until 2008. Her net worth is also up from last year when it totaled $1.6 billion.
- 634 (tie): Richard Schulze (age 71 of Edina)-$2 billion net worth. He founded Best Buy Company, Inc., where he still serves as chairman, and turned it into a multibillion-dollar company. His net worth is down from last year when it totaled $2.5 billion.
- 634 (tie): Stanley S. Hubbard (age 78 of St. Paul)-$2 billion net worth. He was CEO of Hubbard Broadcasting, Inc., which was founded by his father and whose operations include numerous television and radio stations nationwide. He has passed the running of the business on to his five children and serves as the chairman of the board. His net worth is up from last year when it totaled $1.9 billion.
- 719: Glen Taylor (age 70 of Mankato)-$1.8 billion net worth. He founded printing and communications company Taylor Corporation, is the majority owner of the Minnesota Timberwolves, serves on the board of directors of Oakdale-based Imation Corporation, and is a former Minnesota senator. His net worth went down from last year when it totaled $2.2 billion.
Six other Cargill heirs were also on Forbes' list, but they do not reside in Minnesota.
According to Forbes, the richest of all the world's billionaires is Mexican telecom tycoon Carlos Slim Helu, whose net worth totals $69 billion. Microsoft founder Bill Gates took the second spot with a net worth of $61 billion, and Warren Buffet followed in the number three spot with a net worth of $44 billion.
The combined net worth of the 1,226 billionaires on Forbes' list totals $4.6 trillion. Last year, there were 1,210 billionaires.
To view the full list, click here.