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Maybe we should contact some of these folks and ask them for a gift to help us legalize marijuana the RIGHT way in Arizona. What's a million dollars when your a billionaire???
Who are the richest Arizonans? Forbes ranks them Russ Wiles , The Republic | azcentral.com 2:47 p.m. MST October 4, 2016 Seven Arizonans are on Forbes' list of wealthiest people this year. Hannah Gaber/azcentral.com Wochit But the publication calls special attention to Arizona pharmaceutical executive John Kapoor Microsoft's Bill Gates ranks as the wealthiest American once again. Jeff Bezos moves up to No. 2 Seven Arizonans have made Forbes' 2016 list of richest Americans, the same number as last year, including a pharmaceutical executive whose controversial pain-relief medication garners special scrutiny in the publication. Bruce Halle, founder of Discount Tire, leads the Arizona contingent, as he has for the past seven years, with an estimated net worth of $6.3 billion. That's more than double the wealth of developer and Campbell Soup heir Bennett Dorrance at $3 billion. The others on the list, all in the $2 billion-plus range, are current or former Amerco executives Mark Shoen ($2.7 billion) and E. Joe Shoen ($2.3 billion), GoDaddy founder Bob Parsons ($2.4 billion), pharmaceutical executive John Kapoor ($2.1 billion) and Arturo Moreno ($2.1 billion), a former billboard executive who now owns the Los Angeles Angels of Anaheim. Amerco is the parent of U-Haul International. One Arizonan, Herbert Louis, a retired surgeon and SC Johnson & Son heir, dropped off the list, while E. Joe Shoen is a newcomer. Louis died earlier this year. Kapoor, the founder and chairman of Chandler-based Insys Therapeutics, ranks sixth in net worth among the seven Arizonans and in the bottom quarter overall, at number 335 (tied with Moreno) on the national list of 400. Forbes includes a special article dealing with deaths linked to and investigations of Subsys, an Insys product containing a narcotic that's 80 times more powerful than morphine. The initial success of that medication turned Insys into one of Arizona's hottest stocks ever, but that was followed by a sharp downturn as the company's profits and revenue were scaled back as the investigations widened. The Republic and azcentral.com reported on Insys' wild ride earlier this year. Subsys was designed as quick relief for cancer patients but also has been available to others who don't have cancer. That, coupled with aggressive marketing tactics, have put the company under investigation in two states, with doctors who prescribed the medication under investigation in six others, as Forbes notes in its article, which runs in the magazine's Oct. 25 issue. The billionaires on Forbes’ new 2016 ranking have a record combined net worth of $2.4 trillion, up from $2.34 trillion in 2015. Forbes 400 members, on average, are worth $6 billion, also a record high and up from $5.8 billion last year. Microsoft's Bill Gates is again the richest American, for the 23rd consecutive year, with a net worth of $81 billion. He's followed by Amazon's Jeff Bezos ($67 billion), Warren Kapoor, a 73-year-old immigrant from India, also is the chairman of another pharmaceutical company, Akorn Inc. Insys shares represent $650 million of his net worth, according to Forbes. Kapoor's wealth dropped from $3.3 billion in last year's Forbes report, partly reflecting a slump in Insys stock as scrutiny of the company intensified. The theme of this year's Forbes 400 package, which can be seen at Forbes.com, is the success of immigrants and their role in continuing the American dream. Immigrants represent 42 slots, including three married couples, on the list of 400. Presidential candidate Donald Trump placed No. 156 this year, down 35 spots, with a net worth of $3.7 billion, down $800 million from last year due to declining New York real estate prices and more complete information about his holdings. "His fortune is real, though by no means approaching the $10 billion that Trump continues to maintain he is worth," Forbes said. The Forbes 400 issue features five different covers, including that of Kapoor. Among other highlights, 266 of the richest 400 Americans fall into the self-made category (compared to 134 who inherited at least a portion of their wealth) and 50 of the richest Americans are women (seven of whom are listed with their husbands). A record 153 billionaires didn't make the cut, falling short of the $1.7 billion minimum. Reach the reporter at russ.wiles@arizonarepublic.com or 602-444-8616. The wealthiest Arizonans 78. Bruce Halle, $6.3 billion, Paradise Valley 222. Bennett Dorrance, $3 billion, Paradise Valley 246. Mark Shoen, $2.7 billion, Phoenix 290. Bob Parsons, $2.4 billion, Scottsdale 309. E. Joe Shoen, $2.3 billion, Phoenix 335. John Kapoor, $2.1 billion, Phoenix 335. Arturo Moreno, $2.1 billion, Phoenix Source: Forbes |