Alabama is one of the most populated states in the US and it is located in the south-eastern part of the country. This state is also the 30th biggest state out of the 50 in the US. people are surprised at the kind of money they see when they look at the list of the richest people in Alabama. This conservative U.S State, which is ranked 45th in America with few known billionaires if any, might not be a commercial hub, or a significant contributor to the country’s economy- but with the wealthiest people in Alabama, it shows the state certainly has a few people who understand wealth, and what it takes to build it.
Alabama is a historic place, and continues to be a center of political activity, but it is not the political class that makes up the richest people in Alabama. The few families whose generational wealth has been well managed, and who have business empires to maintain have done well to keep their noses out of politics, (mostly) and have concentrated on expanding their businesses and family wealth.
Richest People in Alabama
1. Raymond Harbert
Net worth $2 billion
Raymond Harbert is the scion of a financial empire, but he is also proven and tested businessman and financial expert. He is the Chairman and CEO of Herbert Management Corporation, a company that is an investment fund manager, with over 6 billion dollars invested in it.
Since the death of his parents, he has been in control of the family company, and despite the opposition and bad publicity, he has arguably done a very good job.
2. John and Margurite Harbert
Net worth: 2 billion each
The John and Margurite Harbert we are talking about here are children of the original people by the same name. They are siblings of the Raymond Harbert listed above, whose parents left behind a 6 billion dollar estate for them. Margurite accused Raymond of mishandling the family fortune, but Raymond who is an astute businessman to an exception to the accusation, and so the family divided their fortunes, while Raymond continues with his business.
John and Margurite are estimated to be worth about 2 billion dollars each, and although much still has to be worked out legally, they remain some of the richest people in Alabama.
3. James Stephens
Net worth: $1 billion
James Stephens is the Chairman of EBSCO Industries. His father Elton B. Stephens started the company back in 1944 when he started selling magazine subscriptions to the U.S military. He went on to grow the company into a multibillion-dollar conglomerate that employs about 5,700 people. James Stephens has since inherited a significant part of the company and has served as the Chairman since the death of his father in 2005.
4. Elton Stephens, Jane Comer, Dell S Brooke
Net Worth: $1 billion Each
Elton Stephens, Jane Comer, and Dell S Brooke are all siblings. Former lists used to put their fortune together with their elder brother James Stephens, but we understand that the Chairman is currently moving to secure his personal fortune outside the family empire, which leaves these three with their combined net worth of about 3 Billion dollars which amounts to roughly 1 billion for each person.
Their money is still dependent on the family company EBSCO Industries, and they are still the richest family in Alabama.
5. James W Rane
Net Worth: $900 Million
James W Rane is the face of Alabama when people talk about success stories. He is a self-made businessman; and one of the richest people in Alabama. James W Rane is quite an interesting person; he is quite well known because he does his company’s commercials by himself, and that has earned him the name of the Lumber Guy.
Interestingly, he studied to become a lawyer, and only entered the lumber business when he was called upon to settle a family dispute involving his family’s fence post-making business. He has since grown the business into a huge company with more than 15 plants, making him one of the richest men in Alabama.
James W Rane is now the founder and Chairman of Great Southern Wood Preserving Inc. which is the biggest lumber processing company in the region.
6. John O’ Neil
Net worth: $10 million
John O’ Neil is one of the highest-earning people in Alabama. Interestingly, he is not a financial expert or a hedge fund manager, but a medical professional. John O’ Neil is the President and Chief Operating Officer of St. Vincent’s Health System. Mr. O’Neil is estimated to make about $1.95 million per year, with a basic salary of about $420,615, while the balance is made up of bonuses and other perks.
7. Isaac William Ferniany
Net worth: $9 million
Isaac Willian Ferniany is another one of the richest people in Alabama with a medical background. He currently serves as the CEO of the University of Alabama at Birmingham Health System. He is a well-versed professional with an impressive resume; he was formerly Chief Executive Officer of the University of Mississippi Med Center. Apart from his $1.48 million yearly salaries, he also has a board position in Vizient Inc, as well as other advisory positions in other companies.
8. Jason Swanner
Net worth: $8 million
Jason Swanner is not just one of the richest men in Alabama; he is a seasoned medical practitioner, with a lot of potential to make far more than his estimated $8 million dollars. He is currently the Director of Clinical Operations for the University of Alabama Opthalmology Services. His basic salary is around $1.2 million per year, and when bonuses and other payments are added, the figure rises to $1.36 million per year. Dr. Swanner is also a keynote speaker, and has been awarded a Harvard University fellowship.
9. D. Mark Nix
Net worth: $7 million
Mark Nix is not just one of the richest men in Alabama; he is also one of the most respected medical consultants in the state. He is the President and Chairman of Infirmary Health Systems, Inc., and he also serves on the John S. Davis Company. His annual base pay is $689,173, but when you add bonuses and other payments, the figure rises to around $1.36 million per year.
10. Clark Christianson
Net worth: $1.3 million
Clark Christianson is the president and CEO of Providence Hospital, Alabama. Providence Hospital is a monumental edifice on the Alabama skyline. Clark Christianson is one of the most respected medical professionals in Alabama and the whole country in general. His basic pay is $403,517 per year, but when you add bonuses he makes about $1.27 million per year- making him one of the richest persons in Alabama.
Despite being at the bottom of the list of states with the wealthiest people in America, there is evidence that Alabama has a lot of potentials. When you look at this list of the richest men in Alabama, you can see that the state has it all; inherited wealth, self-made millionaires, and professionals who have worked their way up to the top of their professions, and now command huge salaries. Alabama can still do more to develop local content, and produce more millionaires.