Business & Tech

Meet Pennsylvania's 12 Billionaires In 2017

Forbes' 2017 list features a record-number of billionaires, including Pennsylvania's 10-figure earners.

Twelve Pennsylvania billionaires have made Forbes list of the richest people around the United States.

These Pennsylvania residents are included in the 2017 list of billionaires, which features a record 2,043 people.

Mary Alice Dorrance Malone, the largest shareholder of Campbell Soup, tops the list at $3.9 billion.

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"It was a record year for the richest people on earth, as the number of billionaires jumped 13 percent to 2,043 from 1,810 last year, the first time ever that Forbes has pinned down more than 2,000 ten-figure-fortunes," according to Forbes. "Their total net worth rose by 18% to $7.67 trillion, also a record. The change in the number of billionaires — up 233 since the 2016 list — was the biggest in the 31 years that Forbes has been tracking billionaires globally."

Here's the breakdown, according to Forbes:

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  • No. 460 Mary Alice Dorrance Malone, 67, Coatsville, $3.9 billion, Campbell Soup: "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."
  • No. 717 John Middleton, 62, King of Prussia, $2.8 billion, tobacco: "John Middleton sold his family's storied tobacco business to Philip Morris-parent Altria for $2.9 billion in 2007. 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."
  • No. 782 Henry Hillman, 98, Pittsburgh, $2.6 billion, investments: "Nonagenarian Henry Hillman has continued to pour millions of dollars into his foundation, which funds projects in his hometown of Pittsburgh."
  • No. 896 Michael Rubin, 44, Bryn Mawr, $2.3 billion, online retail: "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 from high school, he operated three stores called Mike's Ski & Sport."
  • No. 1098 Thomas Hagen, 81, Erie, $1.9 billion, insurance: "Thomas Hagen is chairman of the board of Erie Indemnity, a publicly traded insurance company founded by the father of his late wife Susan Hirt Hagen."
  • NO. 1161 Jeffrey Lurie, 65, $1.8 billion, Philadelphia Eagles: "Jeffrey Lurie is a PhD-holding former professor, but he's more widely known as the outspoken owner of the Philadelphia Eagles. After earning his doctoral degree at Brandeis, Lurie taught social policy at Boston University before taking an executive role at General Cinema Corporation, the film company founded by his grandfather."
  • No. 1161 Richard Yuengling Jr., 74, Pottsville, $1.8 billion beer: "Dick Yuengling turned his family's struggling coal-town brewery into a powerhouse with $550 million in sales in 2015."
  • No. 1234 Brian Roberts, 57, Philadelphia, $1.7 billion, Comcast: "Comcast CEO Brian Roberts tried and failed to acquire Time Warner Cable, his next biggest competitor, for $45 billion in 2015. The combined company would have had even more national sway with content providers and local pricing power, but the deal couldn't get past regulators."
  • No. 1567 Dorrance Hamilton, 88, Wayne, $1.3 billion, Campbell Soup: "Dorrance 'Dodo' Hamilton is among the grandchildren of John Dorrance, a chemical engineer who invented the Campbell Soup Company's condensed soup formula."
  • No. 1567 Maggie Magerko, 51, Belle Vernon, $1.3 billion, building materials: "Maggie Magerko, owner of building materials giant 84 Lumber, almost went broke in the Great Recession and has mounted a stunning comeback since, bringing her company back from near-bankruptcy and her net worth back from near-zero."
  • No. 1678 Richard Hayne, 69, Coatsville, $1.2 billion, Urban Outfitters: "Former hippie Richard Hayne opened his first apparel shop with his ex-wife in the mid-70s near the University of Pennsylvania with only $4,000. Today, Urban Outfitters is a nationwide chain with more than 200 locations and over $3 billion in revenue."
  • No. 1678 Edward Stack, 62, Pittsburgh, $1.2 billion, Dick's Sporting Goods: "Ed Stack is the CEO and largest shareholder of Dick's Sporting Goods. His father, Dick, founded the retailer in 1948 with a $300 loan from his grandmother. Ed and his siblings bought the company from his father when it only had two stores in upstate New York."

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