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Five Maryland billionaires among the 400 richest in the nation, Forbes says

Here's your Wednesday afternoon news roundup | October 04, 2023
Here's your Wednesday afternoon news roundup | October 04, 2023 01:57

BALTIMORE -- Five Marylanders landed on Forbes ranking of the 400 wealthiest people in America, with a 93-year-old heiress leading the pack. 

"After losing a collective $500 billion last year, the nation's 400 wealthiest people have gained it all back," the business magazine said. "This elite set is now worth $4.5 trillion in aggregate, tying a record set in 2021, and it takes $2.9 billion to make The Forbes 400, another tied record."

Tech billionaire Elon Musk topped the list overall. The owner of Tesla, SpaceX and social media company X (formerly Twitter), Musk's net worth is $251 billion, $90 billion ahead of his runner-up, Amazon founder Jeff Bezos.  

The net worths listed worths were calculated by Forbes using stock prices from September 8.  

Last year, Maryland had seven billionaires on the list.   

Baltimore Ravens owner Stephen Bisciotti topped the Marylanders' list last year, but he now calls Florida home, according to Forbes. With a net worth of $7.2 billion and ranked 140 on the Forbes 400, the new Floridian is still richer than any Marylander. 

Real estate mogul Bernard Saul III of Bethesda used to be the 285th richest American, but fell off the vaunted list with a paltry net worth of $2.5 billion this year, according to Forbes. The 91-year-old lives in Chevy Chase. 

Without further ado, here are your neighbors on the fanciest listicle in the country: 

#151 Annette Lerner ($6.5B)

The richest Marylander is Annette Lerner, the 93-year-old heir of Lerner Enterprises. With a net worth of $6.5 billion, she is the 151st richest person in America, according to Forbes. 

Lerner Enterprises is one of the largest owners of real estate in the Washington, D.C., area. 

Forbes said her late husband, Ted, borrowed $250 from her in 1952 to start the company. He died in February 2023, Forbes said. 

The Lerners have owned the Nationals since 2006, and Ted Lerner passed control of the team to his son Mark in 2018. They live in Chevy Chase, Maryland. 

#244 Mitchell Rales ($4.7B)

The second richest Marylander is Mitchell Rales at #244 with a net worth of $4.7 billion. He and his brother run the industrial firm Danaher Corporations industrial firm. 

The 67-year-old lives in Potomac and notably founded the Glenstone in 2006, a private contemporary art museum that is free to enter. 

Last year Forbes ranked Rales at #158 with a net worth of $5.8 billion. He and his brother each transferred Danaher shares worth more than $1.5 billion to their charitable foundations in June, Forbes said. 

#264 Jim Davis ($4.4B)

The third-richest Marylander is Jim Davis, who co-founded the management company Allegis Group with his cousin and fellow billionaire Steve Bisciotti, who now owns the Baltimore Ravens. 

The 63-year-old Cockeysville resident landed at #264 on the list with a net worth of $4.4 billion. 

#278 Dan Snyder ($4.1B)

Dan Snyder, former owner of the Washington Commanders, comes in at #278 with a net worth of $4.1 billion. The fourth-wealthiest Marylander dropped out of the University of Maryland at 20 years old and started the marketing company Snyder Communications. 

Snyder bought the Commanders -- the Redskins at the time -- in 1999 for $750 million. He sold Snyder Communications in 2000 for $2.1 billion in stock. The 57-year-old lives in Potomac. 

#326 David Rubenstein ($3.5B)

The state's fifth-richest Marylander is David Rubenstein, co-founder and Co-Executive Chairman of the Carlyle Group, a multinational private equity company. The 74-year-old lives in Bethesda. 

Rubenstein is ranked #326 with a net worth of $3.5 billion. 

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