These Arizona Billionaires Are Among Richest In U.S.: Forbes

PHOENIX, AZ — The coronavirus has wreaked havoc on the U.S. economy, yet billionaires in Arizona and across the globe are significantly wealthier than they were a year ago, according to this year’s recently released Forbes World's Billionaire s List.

The number of billionaires on Forbes’ 35th annual list jumped to an unprecedented 2,755 people, 660 more than a year ago. Altogether, they are worth $13.1 trillion, up from $8 trillion in 2020.

Among those on the list, 86 percent are richer today than they were a year ago.

The net income of used car magnate and Arizona's richest resident, Ernest Garcia II, is $15.9 billion.

To put that in perspective, that would mean that Garcia's wealth alone would be roughly equivalent to the yearly salaries of 25,448 Arizonans making the state's average yearly income, which is $58,945.

The numbers will likely spark outrage, writes Forbes Chief Content Officer Randall Lane. “There’s no getting around a collective $5 trillion wealth surge during a pandemic, when most of the world felt scared, sick, besieged,” he wrote in a comprehensive essay titled “Operation Wealth Speed."

However, “the underlying trends offer a road map to greater prosperity for all,” he continued. “Like anything else salvaged from a once-a-century plague, we just need to be brave enough to harness it.”

A total of 12 billionaires on this year’s list hail from Arizona. Garcia, who is the largest shareholder in Tempe-based online used car store Carvana, is at the top in the Grand Canyon State.

Other Arizona billionaires on the list include:

• Ernest Garcia III, used cars, $7.4B
• Mark Shoen, U-Haul, $3.9B
• E. Joe Shoen, U-Haul, $3.5B
• Arturo Moreno, billboards & Los Angeles Angels owner, $3.4B
• George Kurtz, security software, $3.0B
• Bennett Dorrance, Campbell's Soup, $2.9B
• Steward Horejsi & family, Berkshire Hathaway, $2.3B
• Bob Parsons, web hosting, $2.2B
• Peter Sperling, education, $1.6B
• Jerry Moyes, transportation, $1.5B
• Trevor Milton, electric vehicles, $1.4B
• Billionaire name, company, net worth
• Billionaire name, company, net worth

To compile this year’s list, Forbes used a snapshot of its real-time billionaires rankings by analyzing stock prices and exchange rates for March 5.

A record 493 people made their debut on this year’s list. Another 250 who’d fallen off in the past made a reappearance, according to Forbes. This year’s list includes a record 328 female billionaires, up from 241 in 2020.

Soon-to-be-former Amazon CEO Jeff Bezos retained the top spot on this year’s list for the fourth consecutive year. Bezos, who founded the e-commerce giant out of his garage in Seattle, Washington, will step down as CEO at the end of this year.

Meanwhile, Elon Musk soared to the No. 2 spot, up from No. 31 on last year’s ranking. Bernard Arnault of LVMH remains at No. 3, followed by Bill Gates at No. 4. Rounding out this year’s top five is Facebook’s Mark Zuckerberg.

See the full 2021 Forbes Billionaires List.