Jacqueline Mars Tops 14 DC Area Billionaires to Make Forbes 400
Led by candy heiress Jacqueline Mars’ $17 billion, 14 billionaires in the national capital region made this year’s Forbes 400, the publication’s annual list of the wealthiest 400 Americans.
Of Mars, Forbes said: “Jacqueline Mars and her two brothers, John and Forrest Jr, own the largest candy company in the world, $33 billion (estimated sales) Mars, thanks in part to its $23 billion acquisition of gum maker Wrigley's in 2008. Sales in Skittles, the candy Trayvon Martin was eating when he was shot, jumped as people bought the colored chewy candies in support of Martin. The candy maker's other famous brands include Milky Way, M&M's, 3 Musketeers, Twix, and Snickers, reportedly named for the Mars family's favorite horse.”
Steven Rales, with $3.3 billion, was the only one on the list who lives in Washington, D.C. Six live in neighboring Virginia and seven in Maryland.
Forbes compiled its rankings by tallying the individuals’ net worth on August 24, having assembled the financials from SEC filings, court records, probate records, federal financial disclosures, and by various meetings, in some cases with the individuals themselves. When a billionaire presided over a private company that refused to disclose its financials, Forbes paired estimates of revenues or profits with prevailing price-to-revenues or price-to-earnings ratios for similar public companies.
Bill Gates, “the planet’s most generous person – he’s given away $28 billion so far,” according to Forbes, was the tops on the list with a $66 billion estimated net worth.
The following are the 14 billionaires from Washington, D.C. area that made the Forbes 400 for 2012 along with their estimated net worth, age, residence, and source of their fortune.
Click here to see the entire list.