Six Minnesotans Make Forbes Billionaires List
The number of billionaires in the world has increased since last year, but there are now fewer billionaires in Minnesota, according to a list recently published by Forbes magazine.
Six Minnesotans were listed and are among 1,210 billionaires in the world. Last year, there were 937 billionaires-including eight locals.
According to Forbes, the richest of all the world's billionaires is Mexican telecom tycoon Carlos Slim Helu, whose net worth totals $74 billion. Microsoft founder Bill Gates III fell into the second spot with a net worth of $56 billion, and Warren Buffet followed in the number three spot with a net worth of $50 billion.
The combined net worth of the 1,210 billionaires on Forbes' list totals $4.5 trillion.
The Minnesotans that made the list 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:
- 223: Whitney MacMillan (age 82 of Minneapolis)-$4.7 billion net worth. His family owns 88 percent of agricultural giant Cargill, Inc., where he served as CEO for 18 years. His net worth is up from last year when it totaled $4.5 billion.
- 459: Richard Schulze (age 70 of Edina)-$2.5 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 $2.9 billion.
- 450: Glen Taylor (age 69 of Mankato)-$2.2 billion net worth. He founded printing and communications company Taylor Corporation and is the majority owner of the Minnesota Timberwolves. His net worth didn't change from last year.
- 651: Stanley S. Hubbard (age 77 of St. Paul)-$1.9 billion net worth. He was chairman and CEO of Hubbard Broadcasting, Inc., which was founded by his father and whose operations include numerous television and radio stations nationwide. His net worth is up from last year when it totaled $1.5 billion.
- 782 (tie): Barbara Carlson Gage and family (age 68 of Minneapolis)-$1.6 billion net worth. Her father, Curt Carlson, founded Carlson Companies (later shortened to Carlson); she runs the company's family foundation. Her net worth didn't change from last year.
- 782 (tie): Marilyn Carlson Nelson and family (age 71 of Minneapolis)-$1.6 billion net worth. Her father, Curt Carlson, founded Carlson Companies (later shortened to Carlson); she served as the company's CEO until 2008. Her net worth didn't change from last year.
Cargill MacMillan, Jr., made the list again this year with a net worth of $4.7 billion, but now resides in California. Mary Janet Cargill was also on the list last year but died in February 2010.