Who is the Richest Person in North Dakota?
Forbes recently released their list of the richest people from every state. So, who took the title in North Dakota?
Gary Tharaldson, who resides in Fargo, is worth a staggering $930 million, making him the richest person in North Dakota, according to Forbes.
How did Tharaldson make his millions? Here's what Forbes had to say:
Gary Tharaldson worked as a physical education teacher and insurance salesman before he purchased his first hotel in 1982. The North Dakota native built his fortune through acquiring and building hotels across the country, eventually accumulating a portfolio of about 350 hotels. In 2006, Tharaldson sold 130 hotels to Goldman Sachs' real estate arm for about $1.2 billion. He reinvested most of the profits from this sale into land investments and commercial and residential developments across the country. In 2008, Tharaldson also launched an ethanol production facility, which produces 153 million gallons per year.
While Tharaldson may be the richest person in North Dakota, he's actually towards the bottom of the list when compared to the richest people from other states. The majority of the richest people in the other fifty states are billionaires, while Tharaldson is only a millionaire.
You can see Forbes' list of the richest people from every state HERE.