5-11-2022 4:35am

3 HUNT VALLEY BILLIONAIRES

PHOTO:Kevin Plank, Crain's

Richest billionaires in Maryland

The first billionaire ever is thought to be Standard Oil magnate John D. Rockefeller back in 1916, or perhaps Henry Ford in 1925. Fast forward some 100 years to 2021: as the COVID-19 pandemic continued to rage, a record-breaking 660 people became billionaires globally, growing the previous year’s number by 30%. While the U.S. is home to the most billionaires out of any other country, Americans are somewhat split in their feelings on the billionaire class.

According to Pew Research Center data, people in the U.S. became somewhat more critical of billionaires between 2020 and 2021. Although support for individual billionaires like Elon Musk or Bill Gates is relatively strong, many Americans view the ultra-rich—as a group rather than as individuals—negatively. Meanwhile, Amazon CEO Jeff Bezos is projected to become the world’s first trillionaire by 2026.

The U.S.’s wealthiest billionaires are mostly concentrated within just a couple of industries: finance and investments, and technology. Other wealthy sectors include food and drink, fashion and retail, and media and entertainment. Stacker compiled a list of the richest billionaires that are residents of Maryland, using data from Forbes. Billionaires are ranked by net worth as of April 30. Forbes lists 11 billionaires in Maryland.

#11. Anthony Casalena
– Net worth: $1.0 billion (#2,541 wealthiest in the world)
– Residence: Monkton, Maryland
– Source of wealth: software, Self Made

Anthony Casalena founded website building startup Squarespace in his University of Maryland dorm room in 2003.
Casalena founded Squarespace with a $30,000 loan from his parents.
Squarespace sells monthly or annual plans that range from a simple domain name and website to more advanced options for e-commerce.
With traditional retailers flocking online during the pandemic, Casalena took Squarespace public in May 2021.
Casalena owns around 30% of Squarespace.

#10. Kevin Plank
– Net worth: $1.6 billion (#1,869 wealthiest in the world)
– Residence: Lutherville-Timonium, Maryland
– Source of wealth: Under Armour, Self Made

Under Armour founder Kevin Plank built a popular sportswear brand as the underdog competitor to Nike.
Noticing his football teammates' sweat-soaked shirts, Plank came up with a lightweight, sweat-wicking shirt using fabrics from women's undergarments.
In the mid 1990s he sold his first shirts from his grandmother's basement, exaggerating to early customers to make the company sound bigger.
Plank, who stepped down as Under Armour's CEO in 2019 and is now chairman, took the company public 2005; he owns a nearly 16% stake.
He is building a 4 million-square-foot headquarters for Under Armour in Baltimore as part of a larger development called Port Covington.

#9. Theodore Leonsis

– Net worth: $1.6 billion (#1,849 wealthiest in the world)
– Residence: Bethesda, Maryland
– Source of wealth: sports teams, Self Made

#8. Keith Dunleavy & family
– Net worth: $1.7 billion (#1,746 wealthiest in the world)
– Residence: Annapolis, Maryland
– Source of wealth: health IT, Self Made

#7. Bernard Saul II
– Net worth: $3.7 billion (#805 wealthiest in the world)
– Residence: Chevy Chase, Maryland
– Source of wealth: banking, real estate

#6. David Rubenstein
– Net worth: $3.8 billion (#792 wealthiest in the world)
– Residence: Bethesda, Maryland
– Source of wealth: private equity, Self Made

#5. Dan Snyder
– Net worth: $4.0 billion (#738 wealthiest in the world)
– Residence: Potomac, Maryland
– Source of wealth: Washington Football Team, Self Made

#4. Jim Davis
– Net worth: $4.3 billion (#670 wealthiest in the world)
– Residence: Cockeysville, Maryland
– Source of wealth: staffing & recruiting, Self Made

Jim Davis is cofounder of Allegis Group, the largest staffing firm in the U.S.
He founded Allegis (then called Aerotek) in 1983 with his cousin Steve Bisciotti, who is also a billionaire.
Allegis now has offices on four continents and boasts an annual revenue of $12.3 billion.
Through Redwood Capital, the cousins also invest in everything from retirement communities to propane distribution.

#3. Ted Lerner & family
– Net worth: $4.3 billion (#651 wealthiest in the world)
– Residence: Chevy Chase, Maryland
– Source of wealth: real estate, Self Made

#2. Mitchell Rales
– Net worth: $5.5 billion (#472 wealthiest in the world)
– Residence: Potomac, Maryland
– Source of wealth: manufacturing, investments, Self Made

#1. Stephen Bisciotti
– Net worth: $5.9 billion (#428 wealthiest in the world)
– Residence: Millersville, Maryland
– Source of wealth: staffing, Baltimore Ravens, Self Made