Nine Arizonans made the 2024 Forbes list of the top 400 richest people in America.
According to Forbes, the richest 400 people in America are worth a record $5.4 trillion, up nearly $1 trillion from last year.
In Arizona, the richest Americans have grown their wealth in a range of fields, from used cars and e-commerce to baseball and stock trading. They live in Phoenix or surrounding cities like Paradise Valley, Scottsdale and Tempe.
The following is a list of the wealthiest Arizonans, including their net worth and ranking, on the Forbes 400 list.
Ernest Garcia II, Carvana shareholder: $13 billion, No. 67
Ernest Garcia II is the biggest shareholder of Carvana, the online used car and auto loans platform that went public in 2017. His son founded the company as a subsidiary of DriveTime Automotive, which Garcia owns. DriveTime is the fourth-biggest used car retailer in the U.S., according to Forbes. Originally from Tucson, he pleaded guilty in 1990 to bank fraud in the failure of Lincoln Savings & Loan. He lives in Tempe and attended the University of Arizona before dropping out, according to Forbes.
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George Kurtz, CrowdStrike cybersecurity co-founder: $5.6 billion, No. 237
George Kurtz is the co-founder and CEO of CrowdStrike, a cybersecurity technology company based in Sunnyvale, California. According to Forbes, Kurtz previously started security tech firm Foundstone in 1999. The business was acquired by McAfee in 2004. He lives in Paradise Valley.
Mark Shoen, U-Haul Holding shareholder: $5.2 billion, No. 250
Mark Shoen is a dominant shareholder of U-Haul Holding Co. According to Forbes, he owns about one-fifth of the company, the parent company of U-Haul. He is the son of L.S. and Anna Mary Shoen, who co-founded U-Haul in 1945. According to Forbes, he sided with his brother Joe in a family feud in which Joe won control of U-Haul, forcing his father to retire. He lives in Phoenix.
Arturo Moreno, Los Angeles Angels owner: $5 billion, No. 266
Arturo Moreno, a Tucson native, is the owner of the Los Angeles Angels baseball team, and the first Mexican American to own a major league sports team, according to Forbes. He bought the team in 2003 for $184 million. It is now worth about $2.7 billion. Previously, he made his fortune from a billboard advertising company, Outdoor Systems, which he sold to Infinity Broadcasting in 1999. He graduated from University of Arizona.
Ernest Garcia III, CEO of Carvana: $4.6 billion, No. 288
Ernest Garcia III cofounded Carvana, an online platform to buy and sell used cars. According to Forbes, Garcia started the company to sell used cars instead of relying on middlemen. Carvana spun out of DriveTime in an IPO that raised $225 million in 2017, according to Forbes. His father, Ernest Garcia II, runs DriveTime. Garcia lives in Phoenix.
E. Joe Shoen, U-Haul Holding shareholder: $4.5 billion No. 299
Joe Shoen is the president and chairman of U-Haul’s parent company AMERCO, now known as U-Haul Holding Co. U-Haul was co-founded by his parents in 1945. Shoen forced his father into retirement in 1986 in a business decision that divided the family, according to Forbes. He lives in Phoenix.
Bob Parsons, GoDaddy founder, $3.9 billion, No. 338
Founder of GoDaddy, the web hosting platform, Bob Parsons stepped down from the board and sold his stake in the company in 2018, according to Forbes. He grew up in inner-city Baltimore and struggled in school, said Forbes. Before running GoDaddy, he sold a software firm, Parson Technology, to Intuit for $64 million in 1994. He also has numerous businesses including commercial real estate, motorcycle dealerships, a production company and the Scottsdale National Golf Club, according to Forbes. He lives in Scottsdale.
Stewart Horejsi and family: Berkshire Hathaway investor, $3.8 billion, No. 347
According to Forbes, Stewart Horejsi began buying stock in Berkshire Hathaway for $265 per share after reading John Train’s “The Money Masters” in 1980. While he still owns some Berkshire shares, he has put hundreds of millions of dollars into his own closed-end mutual fund. He splits his time between Arizona, Oregon and Barbados, where he owns a plantation, according to Forbes.
Bennett Dorrance, developer and Campbell Soup heir: $3.6 billion, No. 374
Bennett Dorrance owns a 15% stake in Campbell Soup and is the grandson of the inventor of condensed soup, John T. Dorrance, according to Forbes. He retired from the company’s board in 2022. He lives in Phoenix and attended the University of Arizona. The Dorrance family founded the Dorrance Scholarship Program in 1999 to provide financial and academic support for eligible first-generation college students in Arizona.
(This story was updated with new information.)
Reach the reporter at sarah.lapidus@gannett.com. The Republic’s coverage of southern Arizona is funded, in part, with a grant from Report for America. Support Arizona news coverage with a tax-deductible donation at supportjournalism.azcentral.com.
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