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 tire man Bruce Halle who for now, has the honor of being the wealthiest person in Arizona.
Wealthiest Arizona Residents
There are 525 billionaires in the United States (2016), and Arizona has nine 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.
Ranked at #78 in America and #219 in the world, Bruce Halle has moved up the list since being tied with Bennett Dorrance at #158 in 2009. He is 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.
Ranked at #222 in the United States and #603 in the world, 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 $3.1 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 $2.9 billion, and he is ranked as the #246 richest man in America and #693 worldwide. 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 #290 in America and #693 in the world, 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.
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 $2.5 billion, ranked as the #309 richest man in America and #814 worldwide. 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 $2.1 billion, Moreno was #335 on the list of the 400 richest people in America and ranked at #973 in the world.
Mr. Moreno is a Tucson native. He made his fortune working in a billboard and outdoor advertising business called Outdoor Systems.
Mr. Kapoor is a self-made billionaire, ranked as #335 in the U.S. and #1234 in the world with a net worth of about $2.1 billion. He 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.
Ranked at #1,290 in the world (but not in the top 400 in America), Stewart Horejsi's net worth is estimated to be $1.6 billion. A self-made billionaire, he 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.
At world ranking #1468 Mr. Sperling's net worth is estimated to be $1.4 billion. 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.