The Richest People in Virginia

Nine of the 748 billionaires in the United States call Virginia home. California (with 186), New York (with 135), Florida (with 78), and Texas (with 67) have the highest number of billionaire residents. Below is the complete list of these nine billionaires in “The Old Dominion” — they are the richest people in Virginia.

9. Richard Fairbank

Net worth: $1.1 billion

Source of wealth: Banking

Global rank: #2448

Residence: McLean, Virginia

Age: 71

He joined the billionaire ranks this year making him one of the only nine billionaires in Virginia. Richard is the founder of Capital One, one of the largest banks and credit card issuers (by purchase volume) in the United States. Capital One is also among the top 5 auto finance companies in the country with a market share of about 4%. It’s ranked #108 on the 2022 Fortune 500 list. Fairbank is a part-owner of the Washington Capitals professional ice hockey team.

8. George Pedersen

Net worth: $1.2 billion

Source of wealth: Defense contractor

Global rank: #2324

Residence: McLean, Virginia

Age: 86

Pedersen is the cofounder of ManTech International Corporation, a defense contractor that he started in 1968 with a single contract with the U.S Navy. The company went public in 2002 and today generates more than $2 billion in revenues.

The billionaire stepped down as CEO in 2017 after being at the helm of the firm for close to fifty years. He now serves as chairman. George was only worth $1 billion last year. He’s the 685th wealthiest individual in the United States.

7. Steve Case

steve-case

Net worth: $1.5 billion

Source of wealth: AOL

Global rank: #1929

Residence: McLean, Virginia

Age: 63

With a net worth of about $1.5 billion, Steve Case is one of the richest people in Virginia. Case was one of the founders of the online service provider America Online (AOL). He left the company in 2005 after a failed merger with media giant Time Warner. He now runs the venture capital firm Revolution LLC, which has invested in more than 200 companies including DraftKings, Bigcommerce, Sportradar, OrderUp, and Zipcar, among others.

Related: The 20 wealthiest people in Massachusetts

6. Michael Saylor

michael-saylor

Net worth: $1.6 billion

Source of wealth: Cryptocurrency

Global rank: #1818

Residence: Vienna, Virginia

Age: 57

Saylor is the chairman and CEO of MicroStrategy, a business intelligence company he created in 1989. However, most of his wealth is tied up in cryptocurrencies as he claims to own more than 17,732 bitcoins which he bought in 2020 for about $175 million (now worth about $365 million).

He also led MicroStrategy to acquire 70,784 bitcoins for an estimated $1.1 billion around the same time. The company reportedly owned about 121,044 bitcoins as of November 2021. Last year he was ranked by Forbes as the 4th richest individual in cryptocurrency. He controls about 70% of MicroStrategy’s shares.

5. Winifred J. Marquart

Net worth: $3.3 billion

Source of wealth: Cleaning products

Global rank: #913

Residence: Virginia Beach, Virginia

Age: 63

She’s the 3rd wealthiest woman in “The Old Dominion”. Winifred is an heir to the fortune of S.C. Johnson, one of the largest private companies in America and a maker of cleaning products. The company was founded by her great-great-grandfather, SC Johnson.

In 2021 SC Johnson generated revenues of over $11 billion and was ranked the 31st largest privately held corporation in America by revenue. Some of its brands include Glade, Toilet Duck, Ziploc, and Baygon among others. Winifred is the 50th richest woman in the United States. Last year she was ranked #318 on Forbes 400 with a net worth of $3.6 billion.

Related: The richest billionaires in Nevada

4. William Conway, Jr.

william-conway-jr

Net worth: $3.8 billion

Source of wealth: Private equity

Global rank: #778

Residence: McLean, Virginia

Age: 72

William Conway is one of the richest people in Virginia with a net worth of $3.8 billion. He co-founded the private equity firm Carlyle Group together with billionaires Daniel A. D’Aniello and David Rubenstein. He now serves as non-executive co-chairman of the company — which went public in 2012 and manages over $250 billion worth of assets.

Carlyle Group is set to acquire George Pedersen’s ManTech International in a deal worth $3.9 billion. According to Forbes, the billionaire donated $250,000 to Joe Biden’s 2020 presidential campaign.

Related: The richest person in each state

3. Daniel D’Aniello

Net worth: $4.2 billion

Source of wealth: Private equity

Global rank: #687

Residence: Vienna, Virginia

Age: 75

He’s the chairman emeritus of Carlyle Group, a Washington-based private equity firm he founded in 1987 together with billionaires David Rubenstein and William Conway Jr. Before launching Carlyle, David worked as a financial officer at PepsiCo and Trans World Airlines (TWA).

Together with his wife Gayle, the billionaire has donated more than $50 million to Syracuse University for the construction of the Daniel and Gayle D’Aniello Building. Last year Carlyle Group generated revenues of about $8 billion. It also has over $300 billion worth of assets under management.

2. Pamela Mars

pamela-mars

Net worth: $7.9 billion

Source of wealth: Candy, pet food

Global rank: #288

Residence: Alexandria, Virginia

Age: 61

Pamela is one of the richest people in Virginia with a fortune of $7.9 billion. She owns about 8% of Mars Inc — a maker of candy and pet food — and a provider of animal care services. In 2020 Mars had over $37 billion in revenues. It’s one of the largest private companies in the United States and is wholly owned by the Mars family.

Pamela inherited her stake from her father Forrest Mars Jr. after his death in 2016. She has three billionaire sisters — Valerie Mars, Marijke Mars, and Victoria B. Mars.

1. Jacqueline Mars

jacqueline-mars

Net worth: $31.7 billion

Source of wealth: Candy, pet food

Global rank: #41

Residence: The Plains, Virginia

Age: 82

She’s the richest woman in “The Old Dominion” and the 4th wealthiest in the United States. Jacqueline has held the title of the richest person in Virginia since 2019. She owns about one-third of the largest maker of confectionery in the world, Mars Inc. — which was founded by her grandfather Franklin Clarence Mars in 1911. The company is wholly owned by the Mars family.

Jacqueline’s brother, John Mars also owns one-third while Pamela Mars and her three sisters own the remainder of it. In 2020 the billionaire heiress donated $500 to the Joe Biden campaign.

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