Business & Tech
2 Bryn Mawr Men Among Wealthiest Americans: Forbes 400
John Middleton and Michael Rubin, both of Bryn Mawr, were included in the newly released Forbes 400 list.

Forbes has released its 2016 list of the top wealthiest billionaires in America, and there were a handful of Pennsylvania natives represented in the bunch — including two Bryn Mawr residents.
The aggregate net worth of all 400 billionaires adds up to $2.4 trillion, or an average of $6 billion per person. An overwhelming majority of figures who made the list are between the ages of 60 and 79, and most work in technology, finance and investments, but one of Pennsylvania's billionaires is a little younger.
Here are the Pennsylvania residents included in the high-profile Forbes 400 list:
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#156 Mary Alice Dorrance Malone, Coatesville, Campbell's Soup, University of Arizona:
Mary Alice Dorrance Malone, the largest shareholder of Campbell Soup, sits on the company's board along with her brother Bennett. "Her grandfather John T. Dorrance, Sr. invented the condensed-soup formula and transformed the company in 1897. Devoted to equestrian sports, she owns expansive estates and performance centers in Pennsylvania and Florida," according to Forbes.
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#246 John Middleton, $2.7 Billion, Bryn Mawr, tobacco, Amherst College, Harvard University:
John Middleton made his fortune selling his family's storied tobacco business to Philip Morris-parent Altria for $2.9 billion in 2007. Forbes says: "The original family business, John Middleton Inc., was founded as a small retail tobacco shop in downtown Philadelphia in 1856 by his great-great-grandfather, John Middleton. The company began manufacturing in the 1950s. It launched the Black & Mild cigar brand in 1980. Middleton bought out several of his relatives' stakes in the company in 2003 for about $200 million amid the tobacco lawsuits that threatened to cripple the family business. In 2014, Middleton's sister Anna Nupson started legal action and asked the court in Montgomery County, Pa. to strike a new deal; Middleton has denounced Nupson's proceedings."
#274 Henry Hillman, $2.5 Billion, Pittsburgh, investments, Princeton University:
According to Forbes: "97-year-old Henry Hillman has continued to pour millions of dollars into his foundation, which funds projects in his hometown of Pittsburgh. Hillman followed his father into the family business, Pittsburgh Coke & Chemical, in 1946. When his father died in 1959, he bought out his 5 siblings, sold off the company's assets, and reinvested in real estate, private equity and venture capital. He was an early investor in both private equity firm KKR and California venture capital firm Kleiner, Perkins, Caufield and Byers. Elsie, Hillman's wife of 70 years and a former Republican national committeewoman, passed away in August 2015 at age 89.
#309 Michael Rubin, $2.3 Billion, Bryn Mawr, CEO, Kynetic, dropout, Villanova University:
According to Forbes: "When he was age 9, Michael Rubin told his parents' friends that he wanted to grow up to be a 'millionaire.' At age 15, Rubin founded a ski-tuning shop in his parents' basement. By the time he graduated high school, he operated three stores called Mike's Ski & Sport." Later, the 44-year-old Villanova dropout created GSI Commerce, which he sold to eBay for $2.4 billion in 2011. "As part of the deal he paid $500 million for majority ownership of 3 assets eBay didn't want: sports merchandiser Fanatics, flash sales website Rue La La and ShopRunner, which now operate under holding company Kynetic."
#361 Richard Yuengling Jr., $1.88 Billion, Pottsville, brewery businessman, dropout, Lycoming College. According to Forbes:
"Yuengling turned his family's struggling coal-town brewery into a $550 million (sales) powerhouse. He is the fifth generation to own D.G. Yuengling & Son, America's oldest brewery. When he bought out his father in 1985 it was producing 137,000 barrels per year; today it's one of the country's five largest beer companies, pumping out some 2.8 million barrels annually. Yuengling drives a dirty Toyota Camry and heads to work so early every morning he has to pick up the newspaper directly from the distributor. Like the four generations before him, he refuses to sell out."
#374 Jeffrey Lurie, $1.85 Billion, self-made sports team owner, Wynnewood, Clark University, Brandeis University:
Jeff Lurie taught social policy at Boston University after earning a PhD. He then became an executive at General Cinema Corporation, the film company founded by his grandfather, according to Forbes. "He started Chestnut Hill Productions in 1985, where he produced a string of mostly forgettable movies. In 1994 he bought the Philadelphia Eagles for $185 million. It's been a successful franchise since then, with 12 playoff appearances in 20 seasons and consistent sellouts at Lincoln Financial Field. The Eagles are now worth $1.56 billion net of debt. A 2012 divorce from his wife Christina cost Lurie a piece of the franchise, though he remains controlling owner with an estimated 70% stake."
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