5 Minnesota billionaires rank among 'Forbes 400' richest Americans


Five Minnesota business moguls placed on "The Forbes 400: The Richest People in America" list.

Carlson sisters Barbara Carlson Gage, 71, and Marilyn Carlson Nelson, 74, ranked No. 118 on the list.

Their net worth: nearly $4 billion each.

Gage and Nelson jointly own the Carlson Family Foundation, which operates more than a thousand hotels, 900 T.G.I. Friday's restaurants and holds a majority stake in Carlson Wagonlit Travel, according to the magazine.

Whitney MacMillan, 84, former CEO of Wayzata-based Cargill, Inc., ranks No. 122.

MacMillan's great-grandfather, W.W. Cargill, started the company as a small Iowa grain storage business in 1865. Now, the agribusiness firm has grown to become the largest private company in the country. MacMillan is heir to an estimated 10 percent stake in the company. His net worth is about $3.8 billion.

Hubbard Broadcasting, Inc. Chairman and CEO Stanley Hubbard, 80, ranks No. 252. Forbes says the St. Paul company's biggest assets are Reelz Channel and its local television and radio stations across the country. More than a decade ago, Hubbard sold his satellite television outfit, CONUS, to Direct TV for $1.3 billion.

Minnesota Timberwolves owner Glen Taylor, 72, is No. 327. Taylor made his fortune in the printing industry. He owns Taylor Corp., a print, packaging and marketing company, and also owns farmland in Iowa and Minnesota. His net worth is about $1.7 billion.

The Star Tribune points out Richard Schulze, chairman emeritus of Best Buy Co. who lives in Florida, also made the list. His $2.7 billion places him 201st.

Bill Gates is the richest American for the 20th year in a row, followed by Warren Buffet.

Next Up

Screen Shot 2020-10-31 at 7.26.05 AM

Here's what President Trump said on his visit to Minnesota

The president targeted Gov. Tim Walz and Keith Ellison at his Minnesota rally.

Screen Shot 2020-10-30 at 6.09.58 PM

Here's what Joe Biden said in Minnesota Friday

Presenting himself as the candidate for a united country, he pledged improvements on affordable healthcare, pandemic relief

Mohamed Ibrahim

Missed PAT seals Gophers' fate against Maryland

Mohamed Ibrahim tied a school record with four touchdowns, but the Gophers lost in overtime.

dnr trout stocking helicopter

DNR uses a helicopter to more efficiently stock lakes with trout

In the past, the DNR used airplanes to stock remote lakes with fish, but the survival rate of the fish was only 85%.

steve simon zoom call

Secretary of State explains plans for segregated absentee ballots

Election officials are reminding voters that it's too late to mail in your absentee ballots.

Halloween, trick-or-treating

Osterholm on safe trick-or-treating: 'I would say go ahead with it'

The infectious disease expert's opinion doesn't align with the CDC's guidance.

drop and go ballot plymouth

It's too late to mail your ballot, but you can still vote. Here's how.

Voters can drop off their absentee ballot, vote early in-person or head to the polls on Election Day.

2019-12-11 f1rst Wrestling Hanukka Havok-Darin Kamnetz-154

Dusting itself off after virus blow, F1rst Wrestling returns to the ring this Sunday

Minnesota's premier independent wrestling company was on top of the world before the virus hit.


McDonald's is bringing the McRib back in December

It hasn't appeared on menus for eight years.

Apple Valley High School

2 more Twin Cities districts moving to distance learning for grades 6-12

The decision was announced as infection rates in Dakota County rise.


Screen Shot 2019-03-05 at 11.04.21 AM

How Minnesotans rank in the Forbes 2019 Billionaire List

We know you'll be anxious to hear they're doing well.

Same six Minnesotans among Forbes' 2011 Billionaires List

The six familiar Minnesota names who made the list in 2010 remained on the list last year. More than 1,200 billionaires from around the world made the 2011 list. The heirs of Cargill, Inc. and Carlson have the highest rankings among the Minnesotans.

6 Minnesotans among the nation's 400 richest people

Minnetonka-based Carlson Companies owners Marilyn Carlson Nelson and Barbara Carlson Gage are the highest of all the Minnesotan's on the new list compiled by Forbes magazine. They tied at 117th.