Near the bottom of that bunch are notable names like Diamondbacks owner Ken Kendrick (net worth: $1.2 billion) and Axon CEO Rick Smith ($2.6 billion). But their fortunes are dwarfed by the wealthiest in the Grand Canyon State.
Here are the 10 richest men — and they’re all men — with Arizona connections. Their net worths are as of June 27.
10. Stewart Horejsi
Forbes worldwide ranking: 962Net worth: $4 billion
Horejsi and his family made money from buying stocks in the holding company Berkshire Hathaway as early as 1980. Berkshire’s class A stock is now the world’s most valuable and Warren Buffett, the company’s chairman and CEO, is the sixth-wealthiest person in the world.
The 82-year-old Horejsi resides in Phoenix, but splits his time between Arizona, Oregon and Barbados, according to Forbes.
9. E. Joe Shoen
Forbes worldwide ranking: 925Net worth: $4.1 billion
Shoen is the president and chairman of Amerco, the parent company of U-Haul. The 75-year-old owns 20% of the company after he led a coup in 1986 to force his father, who cofounded the company, into retirement, according to Forbes. This alienated most of his 12 siblings. His brother, Mark Shoen, is also a billionaire and ranks above him on this list.
Shoen lives in Phoenix.
Justin Ishbia, who has an ownership stake in the Phoenix Suns and Phoenix Mercury, recently executed an agreement that allows him to acquire ownership of the Chicago White Sox.
Christian Petersen/Getty Images
8. Justin Ishbia
Forbes worldwide ranking: 892Net worth: $4.3 billion
While he lives mostly in Chicago, Ishbia is a big name in the Arizona sports world after he and his brother, Mat, bought a majority stake in the Phoenix Suns and Phoenix Mercury in 2023. The deal was valued at $4 billion. Recently, Ishbia also entered into a “long term agreement” earlier this month that sets him up to acquire ownership of the Chicago White Sox. The deal could see Ishbia take over the team as soon as 2029 or as late as 2034.
The 47-year-old made his money as the founder and managing partner of Shore Capital Partners, a Chicago-based private equity firm. He also owns a 22% stake in United Wholesale Mortgage, which his father founded in 1986.
7. Mark Shoen
Forbes worldwide ranking: 786Net worth: $4.8 billion
The brother of E. Joe Shoen, Mark Shoen owns roughly a fifth of Amerco, the parent company of U-Haul. He sided with his older brother to get the company away from their father and push him into retirement. The 74-year-old lives in Phoenix.
6. Arturo Moreno
Forbes worldwide ranking: 751Net worth: $5.1 billion
Monero owns the Los Angeles Angels, which he purchased for $184 million in 2003. Today, the team is now worth around $2.7 billion. The 78-year-old resides in Phoenix and has stakes in commercial real estate holdings throughout the Valley.
His initial fortune came from the Phoenix-based billboard advertising company Outdoor Systems, which he sold for $8.3 billion in 1999. Today, he still has stakes in other billboard advertising companies.
5. Mat Ishbia
Forbes worldwide ranking: 471Net worth: $7.3 billion
Ishbia is the chairman and CEO of the Michigan-based mortgage lender United Wholesaler Mortgage, now UWM Holdings. He owns a 71% stake in the company, which became the country’s largest wholesale lender in 2015.
More notably for Arizonans, Ishbia bought a majority stake in the Phoenix Suns and Mercury with his aforementioned younger brother. The 45-year-old lives in Michigan but can be seen often courtside at PHX Arena.
4. George Kurtz
Forbes worldwide ranking: 373Net worth: $8.6 billion
Kurtz is the founder and CEO of CrowdStrike, a cloud-based cybersecurity company that he started in 2011. If the name CrowdStrike sounds familiar, that’s probably because a bug in the software’s update grounded flights, took media outlets offline and disrupted companies worldwide in July 2024. The 54-year-old lives in Paradise Valley.
3. Ernest Garcia III
Forbes worldwide ranking: 329Net worth: $9.6 billion
Garcia is the CEO and co-founder of Carvana, an online platform for buying and selling used cars and a staple of Loop 202. The 42-year-old launched Carvana in 2021 as a subsidiary of DriveTime, which is owned and run by his father. He lives in Phoenix.
2. Ernest Garcia II
Forbes worldwide ranking: 101Net worth: $21.3 billion
Garcia is the father of Ernest Garcia III and the biggest shareholder of Carvana, which his son founded. Carvana was a subsidiary of DriveTime Automotive before spinning out into its own company. Garcia II still owns and runs DriveTime, which is the country’s fourth-biggest used car retailer.
The 67-year-old lives in Tempe and attended the University of Arizona before dropping out.
Walmart billionaire Rob Walton owns a home at the base of Camelback Mountain.
Gage Skidmore/Flickr/CC BY-SA 2.0
1. Rob Walton
Forbes worldwide ranking: 11Net worth: $115.5 billion
Walton is the richest man in Arizona, according to Forbes. At 80 years old, he is the oldest son of Walmart founder Sam Walton. He took over as chairman of the company after his father died in 1992 and retired from the position in 2015. He was on the company’s board until June 2024, when he retired from that position as well. In 2022, he led a group to purchase the NFL’s Denver Broncos for $4.7 billion.
While he was born in Oklahoma and also lives in Arkansas, Walton and his wife have three adjoining properties in Paradise Valley at the base of Camelback Mountain, which are worth more than $14 million combined. Anti-Walmart protesters have protested near the base of his home in the past over issues of low wages, erratic scheduling and retaliation against employees by the company.
