7 Maryland Billionaires Are Among 400 Richest Americans: Forbes

MARYLAND — Mitchell Rales of Potomac is worth $5.9 billion, making him the richest resident of Maryland and one of the 400 wealthiest people in America, according to Forbes. The company released its 2020 Forbes 400 list, and seven billionaires made the cut in Maryland.

Rales, who founded an industrial firm, ranked 110th, up several spots from his position on the 2019 list, when he was ranked No. 128 and valued at $5.1 billion; according to Forbes, his fortune has increased by about a half billion dollars in the past year.

The Forbes 400 was topped by technology giants this year. Amazon's Jeff Bezos leads the pack with a net worth of $179 billion. Microsoft's Bill Gates is second at $111 billion, and Facebook's Mark Zuckerberg is third at $85 billion.

President Donald Trump landed at No. 339 following a $600 million loss in net worth, Forbes said. He's still worth $2.5 billion.

Here are the Maryland residents ranked on the Forbes 400 list for 2020, with their net worth:

• No. 110: Mitchell Rales, $5.6 billion. Rales, 64, of Potomac, founded industrial firm Danaher.
• No. 139: Ted Lerner and family, $4.8 billion. Lerner, 94, of Chevy Chase, is the founder of real estate development company Lerner Enterprises and owner of the Washington Nationals.
• No. 154: Steve Bisciotti, $4.6 billion. Bisciotti, 60, of Millersville, is co-founder of Allegis Group and owner of the Baltimore Ravens. Bisciotti and cousin Jim Davis, who is also on the Forbes list, started what would become Allegis Group in 1983. It is the largest staffing company in the United States.
• No. 238: Jim Davis, $3.4 billion. Davis, 60, of Cockeysville, founded Allegis Group with his cousin, Bisciotti. He is also a minority owner of the St. Louis Cardinals.
• No. 238: David Rubenstein, $3.4 billion. Rubenstein, 71, of Bethesda, is co-founder of the private equity firm Carlyle Group.
• No. 260: Bernard Saul II, $3.2 billion. Saul, 88, of Chevy Chase, owns real estate investment firm B.F. Saul Company.
• No. 327: Dan Snyder, $2.6 billion. Snyder, 55, of Potomac, owns the Washington Redskins. He made his first fortune selling advertisements on boards inside buildings and distributing product samples through Snyder Communications. When the firm went public in 1996, Snyder was the youngest CEO on the New York Stock Exchange, at age 32.

See the full Forbes 400 list on Forbes.com.

— By Anthony Bellano and Elizabeth Janney