There Are Only 2 Billionaires In Minnesota: Who Are They?

There are multiple billionaires in the world. In the U.S., particularly, there are already 614 listed on the billionaire’s list in 2020. However, there are only two of them in the state of Minnesota.

The two rich men who made the list that are living in Minnesota are Glen Taylor and Stanley Hubbard. Taylor is known for being the former CEO of Taylor Corp. He now sits as its chairman. Taylor Corp. started as a wedding business that was worth $2 million in 1975 but the billionaire transformed the company to a $2 billion worth firm. It employs a total of 15,000 people across the nation.

Taylor is an avid sports fan. He has major stakes in different sporting teams such as the Minnesota Timberwolves, WNBA team Lynx and United FC soccer team. Four years ago, he sold a minority stake of the Timberwolves and Lynx to Lizhang Jiang, making him the first Chinese minority owner in the NBA, Forbes reported.

Aside from owning several teams and leading a wedding company, the 79-year-old businessman also manages several farmlands and handles the Minneapolis Star Tribune. According to Celebrity Net Worth, Taylor once became state senator for Minnesota from 1981 to 1990.

On the other hand, Stanley Hubbard is the man behind Hubbard Broadcasting. He leads 13 TV stations and 45 radio stations in different areas in the U.S. Hubbard is a known supporter of President Donald Trump and contributed to his campaign in 2016. DirecTV’s success helped him secure his billionaire status. The 87-year-old has an estimated net worth of $2 billion.

During the pandemic, his fortunes increased by as much as $9 million. With his businesses focused on entertainment, which a lot of people consume in their homes, it is no wonder why his value increased even though most businesses are suffering due to the lockdowns.

While Minnesota only boasts two billionaires, there is no shortage of rich men in some other states. California leads the rankings with 165 billionaires. Their total net worth is at $723 billion and the wealthiest among the billionaires in the state is Larry Ellison. New York is next with 118 billionaires led by Michael Bloomberg. The combined net worth of the billionaires in New York is $521 billion. The third state with the most billionaires is Florida with 58, followed by Texas, Connecticut, Illinois, Massachusetts, Washington, Georgia and Nevada, according to Forbes.