Top 20 Richest People In Iowa: Wealthiest Iowans Ranked

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Iowa, known for its vast farmlands and friendly communities, is also home to some incredibly wealthy individuals. While it might not be the first place that comes to mind when you think of immense fortunes, the Hawkeye State boasts a number of residents who have amassed significant wealth through various industries. Here’s a peek into the lives and fortunes of the top 20 richest people in Iowa.

Who are the wealthiest Iowans?

Identifying the wealthiest people in any state involves a combination of public records, estimates, and industry knowledge. While precise figures can be elusive, several individuals consistently appear on lists of top earners and wealth holders in Iowa. These individuals often derive their fortunes from agriculture, manufacturing, finance, and technology.

Top 20 Richest People in Iowa

While specific rankings can fluctuate based on market conditions and updated financial reports, here are some of the individuals often cited among the wealthiest in Iowa:

  1. Harry Stine: An agricultural magnate, Stine is the founder of Stine Seed, one of the largest privately held seed companies in the world.
  2. Dennis Albaugh: Founder of Albaugh, LLC, a global manufacturer of crop protection products.
  3. John Ruan III: Chairman of Ruan Transportation Management Systems.
  4. Richard L. Deming: A major player in the insurance industry.
  5. Kyle Krause: CEO of Kum & Go convenience stores and Krause Group.
  6. Ron Pearson: Known for his involvement with Hy-Vee, a regional supermarket chain.
  7. Bill Knapp: Real estate and construction.
  8. Gary Vermeer: Founder of Vermeer Corporation, manufacturing agricultural and industrial equipment.
  9. Austin DeNoon: Insurance and financial services.
  10. David Hurd: Agriculture and commodity trading.
  11. Bruce Rastetter: Agri business entrepreneur.
  12. Mackenzie Patterson: Investments and Venture Capital.
  13. Harry Stine: Agriculture and commodity trading.
  14. Scott Hurd: Real Estate Development.
  15. Jon Kinzenbaw: Agricultural equipment manufacturing.
  16. Mike Wells: Insurance and Financial Services.
  17. Jim Walker: Transportation and Logistics.
  18. Mary Andringa: Vermeer Corporation Leadership.
  19. Don Lamberti: Casey's General Stores.
  20. Robert Goodale: Manufacturing and Engineering.

A Closer Look at Some Key Figures

  • Harry Stine: Often cited as the wealthiest individual in Iowa, Harry Stine's success stems from his innovative approach to seed development and genetics. Stine Seed is a powerhouse in the agricultural industry, driving significant revenue and employing numerous Iowans.
  • Dennis Albaugh: Albaugh's crop protection company has expanded globally, making him a significant figure in the agricultural chemicals market. His entrepreneurial journey and business acumen have contributed to his substantial wealth.
  • Kyle Krause: As the CEO of Kum & Go, Kyle Krause leads a well-known convenience store chain with a strong presence throughout the Midwest. His investments in sports and entertainment have also garnered attention.

Industries Driving Wealth in Iowa

Several sectors contribute significantly to the wealth of Iowans:

  • Agriculture: Iowa's fertile land and strong agricultural sector have created numerous opportunities for wealth creation, particularly in seed technology, crop protection, and equipment manufacturing.
  • Manufacturing: Companies like Vermeer Corporation have built substantial fortunes by producing agricultural and industrial equipment used worldwide.
  • Finance and Insurance: The insurance industry and financial services also play a key role, with several individuals achieving significant wealth through these channels.
  • Retail: Chains like Hy-Vee and Kum & Go have contributed to the fortunes of those at the helm, demonstrating the potential for wealth creation in the retail sector.

The Impact of Wealth on Iowa

The wealth generated by these individuals and their companies has a significant impact on Iowa's economy. They provide jobs, support local communities, and contribute to philanthropic endeavors. Their success stories also inspire other entrepreneurs and business leaders in the state.

Conclusion

Iowa's wealthiest residents have made their fortunes through hard work, innovation, and strategic business decisions. Their contributions to various industries have not only created wealth but also spurred economic growth and development in the state. While the specific rankings may vary, the individuals listed above represent some of the most successful and influential people in Iowa.