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How the Richest Person in Each State Made Their Fortune
By Paul Feinstein, Stacker News
On 3/11/21 at 6:30 PM EST
Phillip Faraone / Getty Images for WIRED25
Whether it s a hedge-fund billionaire, tech giant, industrial titan, or someone simply born into the right family, the wealthiest people in every state each have their own stories. In today s political climate, the super-rich have plenty of influence over our political process, from lobbying members of the government and contributing to presidential bids to running ad campaigns in favor of specific causes.
To figure out who s on top of each state s rich list, Forbes tracks groups of billionaires (or centimillionaires in states with no billionaires) and updates their findings annually. Stacker analyzed this data to compile a list of the uber-wealthy and then broke down how each person earned their fortune. This list accounts for individuals wealth as of June 26, 2019, but keep in mind the tides of fortune are always shif
The wealth of nine of America’s top titans has increased by more than $360 billion in the past year. The staggering rise in their gains contrasts with the economic devastation of millions of Americans, amid soaring unemployment and evictions, drawing attention to issues of inequality and distribution of wealth.
With a stunning
1,172% growth rate year-over-year, Daniel Gilbert, CEO of the largest mortgage lending company in the U.S., has seen his wealth multiply the fastest.
Gilbert, who founded Quicken Loans at 22, took its parent company public in August.
With his cult-like following, Elon Musk has also seen tremendous wealth growth. At one point Musk even briefly surpassed Jeff Bezos as the richest person in the world.
This is impressive, since Jeff Bezos’ wealth ballooned over 70% in the same time frame. Similarly, Zuckerberg, Gates, and Buffett have all seen double-digit growth.
Who’s In and Who’s Out?
Among the newest to join the billionaire’s club is Whitney Wolfe Herd, CEO of Bumble at 31 years old.