Meet Arizona's 7 Biggest Billionaires
While the insanely rich continue to flock to California and New York, seven of the nation's 400 wealthiest people hail from Arizona this year.
That makes the desert state one of the 15 most popular home bases for billionaires, according to Forbes magazine's annual ranking of the nation's elite.
Meet the state's seven richest people:
Bengie Molina of the Los Angeles Angels
7) Arturo Moreno
With a net worth of $1.8 billion, 69-year-old Arturo Moreno slipped onto Forbes' list at number 375. Moreno, the oldest of 11 children, was born and raised in Tucson. A self-made billionaire, he got his start in billboard advertising, then branched into commercial real estate and professional baseball. In 2003, Moreno became the first Mexican-American to own a Major League Baseball team when he purchased the Los Angeles Angels from the Walt Disney Company. The team hasn't won a World Series under his ownership, but it has increased in value from $184 million to $1.3 billion.
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6) Bob Parsons
Bob Parsons, 64, founder of Go Daddy, the Internet domain registrar and web hosting company infamous for its boundary-pushing advertising campaigns, was born in Baltimore but now calls Scottsdale home. He almost flunked out of high school but pulled his act together after doing a tour with the Marines in Vietnam. He graduated magna cum laude from the University of Baltimore, taught himself how to code, and now Forbes lists his net worth as $2.1 billion, making him the country's 327th richest man.
5) Bennett Dorrance
As the grandson of Campbell Soup founder John T. Dorrance, Bennett Dorrance, 69, really was destined for the Forbes 400. He holds a 14.7 percent stake in the company, which brings in about $8 billion in revenue per year. With a net worth of $2.6 billion, he ranks 256th. Luckily for Arizona, he likes to spend his charity dollars sending kids to the state's public universities through the Dorrance Scholarship Program.
4) Herbert Louis
Eighty-seven-year-old Herbert Louis of Phoenix is a retired orthopedic surgeon. But, unsurprisingly, that's not where he made his fortune. Louis is the great grandson of Samuel Curtis Johnson Sr., founder of S.C. Johnson & Son. If you've ever purchased Scrubbing Bubbles bathroom cleaner, Glade candles, or OFF! insect repellent, you've helped boost Louis' net worth to $2.7 billion, making him the 246th richest man in the United States.
3) John Kapoor
John Kapoor, 72, is a serial pharmaceutical entrepreneur from Amritsar, India. Now a resident of Phoenix, he is the majority owner of two billion-dollar drug companies, Akorn, which specializes in "difficult-to-manufacture" prescription drugs, and Insys Therapeutics, which sells opioids to cancer patients. Insys Therapeutics main product, a drug call Subsys, is one of the fastest-growing pain medicines in the market. Next, the Chandler-based company plans to roll out a marijuana-derived medicine for the treatment of epilepsy. With a net worth of $3.3 billion, Kapoor ranks 194th.
2) Mark Shoen
Mark Shoen, 63, whose net worth is $4.6 billion, is the largest individual shareholder in Amerco, the parent company of U-Haul. His parents, Leonard Samuel and Anna Mary Shoen, pioneered the concept of do-it-yourself moving when they founded the company in 1945. The fortune is tainted by a tumultuous history. After Leonard and Anna gifted shares of the company to Mark and his 11 siblings, several banded together to wrest control of U-Haul, resulting in decades of lawsuits. Leonard Shoen eventually committed suicide by driving his car into a tree, but now U-Haul is North America's biggest moving and storage company, and Mark Shoen is the 119th richest man in America.
Lionel & Heidi/Flickr
1) Bruce Halle
With a net worth of $6.1 billion, 85-year-old Bruce Halle is the richest man in Arizona and the 76th richest man in the United States. As a kid growing up during the Great Depression, Halle, born in Springfield, Massachusetts, helped support his family digging graves and delivering newspapers. He launched Discount Tires with just six tires in Ann Arbor, Michigan, in 1960. Now, the company has expanded to more than 900 stores in 28 states.
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