2 Bryn Mawr Billionaires Makes Forbes' 2018 List

BRYN MAWR, PA – Forbes recently released its list of 2018 billionaires, and Pennsylvania has some residents on the new list. Among PA's notable billionaires are two Bryn Mawr residents.

They are John Middleton and Michael Rubin, each worth an estimated $3 billion and tied for 791st on Forbes' list. Both are Bryn Mawr residents.

Middleton, 63, sold his family's tobacco business, John Middleton Inc. which was formed in the mid 1800s and made products such as Black and Mild cigars, for $2.9 billion in 2007.

He is also the primary stakeholder in the Philadelphia Phillies.

Rubin, 45, is the CEO of Kynetic, the holding company for e-commerce retailers Fanatics, Rue La La and ShopRunner. He earned his fortune after dropping out of Villanova University and forming GSI Commerce, which he subsequently sold to eBay for a sizeable $2.4 billion in 2011.

Rubin is also a sports team owner, maintaining shares of the Philadelphia 76ers and the New Jersey Devils.

The 2018 list has 2,208 members from 72 countries. With 585 Americans on the list, the United States leads the way with the most number of billionaires in the world, followed by China with 373 billionaires. The U.S. also had 18 newcomers featured on the 2018 list.

Jeff Bezos is at the top of Forbes' billionaires list for 2018, dethroning fellow Seattle-area billionaire Bill Gates, who has lost the top spot for only the sixth time since 1995. According to Forbes, Bezos is the first centi-billionaire at the top of the list, meaning he has a fortune of over a $100 billion.

The top 20 people on the list alone are worth $1.2 trillion, 13 percent of the total fortune of all billionaires worldwide.

Here are the Pennsylvania billionaires who made the Forbes list for 2018:

• Victoria Mars, 61, is worth $5.9 billion and is ranked 296th on the list. She is an heir to the candy and pet food company, Mars Inc.
• Mary Alice Dorrance Malone, 68, is worth $3.3 billion and is ranked 703rd on the list. She is the largest shareholder of the Campbell Soup Company. Her grandfather is credited with inventing the condensed-soup formula that transformed the company in 1897.
• Thomas Hagen, 82, is worth $2 billion and is ranked 1,215th (tie) on the list. He is chairman of Erie Indemnity.
• Jeffrey Lurie, 66, is also worth $2 billion, tying with Hagen. He is the owner of the Philadelphia Eagles.
• Brian Roberts, 58, is worth $1.8 billion and is ranked 1,339th on the list. He is CEO and largest individual shareholder of Comcast.
• Richard Hayne, 70, is worth $1.5 million and is ranked 1,561st on the list. He is chairman, president and CEO of Urban Outfitters.
• Richard Yuengling Jr, 74, is worth $1.4 billion and is ranked 1,650th on the list. He is the fifth-generation owner of D.G. Yuengling & Son and is credited with turning his family's struggling brewery into one of America's largest beer makers, Forbes says.
• Alfred West Jr, 75, is worth $1.2 billion and is ranked 1,867th on the list. He is the founder of SEI financial services.

The top 10 billionaires on the list are:

• Jeff Bezos, 54, worth $112 billion
• Bill Gates, 62, worth $90 billion
• Warren Buffett, 87, worth $84 billion
• Bernard Arnault, 69, worth $72 billion
• Mark Zuckerberg, 33, worth $71 billion
• Amancio Ortega, 81, worth $70 billion
• Carlos Slim Helu, 78, worth $67.1 billion
• Charles Koch, 82, worth $60 billion
• David Koch, 77, worth $60 billion
• Larry Ellison, 73, worth $58.5 billion

The Forbes billionaires list provides a look at wealth using stock prices and exchange rates from Feb. 9, 2018. Forbes values assets like private companies, art, real estate and more.

Read more about Forbes methodology here.

See the full list of billionaires here.

With reporting from Kara Seymour

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