Bennett Dorrance has more than one reason to say, "M’m! M’m! Good!" As the heir to the Campbell Soup Company, he and three other members of the Dorrance Family are on The World's Billionaires list. While he used to be the richest man in Arizona, he has been outranked by auto seller Ernie Garcia who for now, has the honor of being the wealthiest person in Arizona according to Forbes annual ranking of the 400 wealthiest people in the U.S.
Wealthiest Arizona Residents
There are 607 billionaires in the United States (2019), and Arizona has six of them. It is interesting to note that none of the wealthiest people on the Arizona list are women. There haven't been any women from Arizona since Forbes started producing the list. All of Arizona's wealthiest people made their money in the Phoenix area and continue to live in greater Phoenix. For this listing we have included previously listed billionaires who have passed away or who have other reasons for not being included on the list this year.
Forbes (2018) sets Ernie Garcia's net worth at $5.3 billion. Tempe resident Ernie Garcia II is now the richest person in the state ranking at 127 in the U.S., replacing Bruce Halle who has passed away. He is the largest shareholder of Tempe-based online auto seller Carvana Co. and is also is owner of Tempe-based DriveTime Automotive, a used car retailer and finance company.
Ranked at #316 in the U.S., Bennett Dorrance has been on the wealthiest Americans list since it began in 1996. Mr. Dorrance is the grandson of Joseph Campbell, of the Campbell Soup Company. Dr. John Dorrance, Joseph Campbell's nephew, joined the company and invented condensed soup in 1897. Today there are many brand names that belong to the company, including Pepperidge Farm, V-8, Pace, and Swanson. He is a founding partner of DMB Associates, a real estate development firm with many projects in the Western U.S. Mr. Dorrance's net worth comes in at about $2.6 billion this year.
Mark Shoen is the largest individual shareholder in U-Haul, which was founded by his parents in 1945. His net worth is estimated at $3.2 billion, and he is ranked as the #251 richest man in Arizona. He's the second richest person in Arizona. U-Haul has the largest rental fleet in the do-it-yourself moving industry, which includes trucks, trailers, and towing devices.
Mr. Parsons ranked at #328 in the U.S., with about $2.5 billion net worth. A self-made billionaire, he is the Founder of GoDaddy.com, headquartered in Scottsdale, Arizona where he lives. He also operates various motorcycle dealerships in several states including Arizona and is a noted philanthropist.
E. Joe Shoen
Edward Joe Shoen is the president, chairman, and CEO of AMERCO, the parent company of U-Haul International. His net worth is estimated at $2.7 billion, and he is ranked as #302 in the U.S. He is relatively new to the list, being defined as a billionaire for the first time in 2016.
Arturo (Arte) Moreno is the majority owner of the Los Angeles Angels of Anaheim and was the first Mexican-American to own a Major League Baseball team. With a net worth of $3 billion, Moreno was #271 on the list of the 400 richest people in America. Mr. Moreno is a Tucson native. He made his fortune working in a billboard and outdoor advertising business called Outdoor Systems.
Previously on the List
Mr. Kapoor is a self-made billionaire, made his money in pharmaceuticals and was executive chairman of Insys Therapeutics. In 2017, he stepped down from that position after criminal charges were filed against other company executives, accounting for his precipitous drop in net worth/ranking on this list.
A self-made billionaire, Mr. Horejsi turned an investment of $10,600 in Berkshire Hathaway stock into $745 million over a 30+ year period. He reached billionaire status in 2013 and built a mansion in Paradise Valley, AZ.
Born in 1960, his father, John, founded Apollo Group (University of Phoenix) and Peter later became CEO. Enrollment and revenues of the online university declined and the company was sold at a discount to private investors.
A billionaire who resided in Paradise Valley, Arizona, Mr. Louis was an heir to the SC Johnson company, which was founded by his great-grandfather. An orthopedic surgeon, he was involved in the creation of Phoenix Children's Hospital. He passed away in 2016.
Bruce Halle passed away in January of 2018 and had a net worth of $4.6 billion in 2017, according to Forbes. Bruce Halle was the founder and chairman of Discount Tire with an estimated net worth of about $6.5 billion. Discount Tire is based in Scottsdale, Arizona and has more than 900 stores in 31 states; it is the world's largest independent tire and wheel retailer.