Maryland is home to many billionaires. These billionaires acquired their fortunes in a variety of ways.
Ted Lerner turned a $250 loan into a real estate empire, Stephen Bisciotti and Jim Davis co-founded the largest staffing firm in the nation, and Dan Snyder, a college dropout, is now worth billions.
Here are the 7 richest people in Maryland. The information presented in this article is based on the Billionaires List from Forbes (rankings as of 1/20/23).
Where Does the Richest Billionaire in Maryland Live?
The richest billionaire in Maryland, Stephen Bisciotti, lives in Millersville, MD.
Millersville is a suburb of Annapolis.
7 Richest Billionaires in Maryland
1. Stephen Bisciotti
Stephen Bisciotti is the richest person in Maryland. A resident of Millersville, MD, Stephen Bisciotti is worth $6.4 billion.
Stephen Bisciotti made his fortune by co-founding the largest staffing firm in the US, Allegis Group. He is also the owner of NFL’s Baltimore Ravens.
Stephen is the 392nd richest person in the world.
| Net Worth | $6.4 billion |
| Source of Wealth | Allegis Group (staffing) and Baltimore Ravens |
| Age | 62 |
| Residence | Millersville, MD |
| World Rank | 392nd Richest Person in the World |
2. Ted Lerner and Family
Ted Lerner and his family are one of the richest families in Maryland. Residents of Chevy Chase, MD, Ted Lerner and his family are worth $6.5 billion.
Ted is a self-made billionaire, he impressively turned a $250 loan into a real estate empire. Today, Lerner Enterprises is one of the largest landowners in the Washington DC area.
He is the 388th richest person in the world.
| Net Worth | $6.5 billion |
| Source of Wealth | Lerner Enterprises (real estate) |
| Age | 96 |
| Residence | Chevy Chase, MD |
| World Rank | 388th Richest Person in the World |
3. Mitchell Rales
Mitchell Rales is the third richest person in Maryland. A resident of Potomac, MD, Mitchell Rales is worth $6 billion.
Mitchell made his fortune from manufacturing and investments.
He is the 427th richest person in the world.
| Net Worth | $6 billion |
| Source of Wealth | Manufacturing and Investments |
| Age | 66 |
| Residence | Potomac, MD |
| World Rank | 427th Richest Person in the World |
4. Dan Snyder
Dan Snyder is the fourth richest person in Maryland. A resident of Potomac, MD, Dan Snyder is worth $4.9 billion.
Dan Snyder is a college dropout and a self-made billionaire who made his fortune from his marketing business, Snyder Communications. He is the owner of Washington Commanders.
Dan is the 544th richest person in the world.
| Net Worth | $4.9 billion |
| Source of Wealth | Snyder Communications, Washington Commanders |
| Age | 57 |
| Residence | Potomac, MD |
| World Rank | 544th Richest Person in the World |
5. Jim Davis
Jim Davis is the fifth richest person in Maryland. A resident of Cockeysville, MD, Jim is worth $5 billion.
Jim made his fortune by co-founding the largest recruiting firm in the US, Allegis Group.
He is the 541st richest person in the world.
| Net Worth | $5 billion |
| Source of Wealth | Allegis Group (staffing and recruiting) |
| Age | 62 |
| Residence | Cockeysville, MD |
| World Rank | 541st Richest Person in the World |
6. Bernard Saul II
Bernard Saul II is the sixth richest person in Maryland. A resident of Chevy Chase, MD, Bernard Saul II is worth $4 billion.
Bernard inherited his grandfather’s property management company and turned it into billions.
He is the 717th richest person in the world.
| Net Worth | $4 billion |
| Source of Wealth | Banking and Real estate |
| Age | 90 |
| Residence | Chevy Chase, MD |
| World Rank | 717th Richest Person in the World |
7. David Rubenstein
David Rubenstein is the seventh richest person in Maryland. A resident of Bethesda, MD, David Rubenstein is worth $3.3 billion.
David co-founded the private equity firm, the Carlyle Group.
He is the 870th richest person in the world.
| Net Worth | $3.3 billion |
| Source of Wealth | Carlyle Group (private equity) |
| Age | 73 |
| Residence | Bethesda, MD |
| World Rank | 870th Richest Person in the World |
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