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IVOR
MASSEY JR. FAMILY
Richmond. The Massey family made its fortune through
the heating and air-conditioning company Massey, Wood
and West. The late Ivor Massey Sr., the longtime chairman
of the company, was an aviation pioneer who served many
years on the Richmond airport board. His wife, the late
Anne Massey, was a founding director of the Science
Museum of Virginia. Ivor Massey Jr., 57, practiced law
before becoming a businessman and investor. Now serves
as president of the Association for the Preservation
of Virginia Antiquities.
Net Worth: $100 million*
Confidence: A
THE
McMURTRIES
Richmond. Former state Del. Alexander B. McMurtrie
Jr. and his wife Margaret Hillenbrand McMurtrie have
substantial
investments in Indiana-based Hillenbrand Industries,
founded by Mrs. McMurtrie’s grandfather. Hillenbrand
Industries is the holding company of Forethought Financial
Services, Batesville Casket Co. and Hill-Rom, which
manufactures health-care products. The family has land
investments in Virginia and land and farm investments
in Indiana. The McMurtries are community oriented and
support organizations that provide college scholarships
to children in need.
Net Worth: $100 million
Confidence: A
MILTON
V. PETERSON
Fairfax. 69. The founder and chairman of Peterson Cos.
broke into the Kool and the Gang song “Celebration”
during the December groundbreaking on one of his most
ambitious real estate projects. He has invested $100
million in the $2 billion National Harbor project, which
includes homes, hotels, offices, retail and entertainment
on the Potomac River in Prince George’s County,
Maryland. Slots might also go in if approved by the
Maryland General Assembly. His privately held real estate
company has extensive holdings in Northern Virginia.
Net Worth: $100 million
Confidence: C
JOHN
D. PHILLIPS
Keswick, Atlanta and Sea Island, Ga. 62. The former
chairman and CEO of World Access Inc. stays busy running
a venture capital group out of the Atlanta offices where
World Access was once based. The international telecommunications
firm, which Philiips left last year, has been placed
in a trust and is being liquidated, he says, after years
of litigation with a German telephone company. The John
D. Phillips Venture Capital Group provides first-round
funding of $500,000 to $5 million to primarily technology
startups. Phillips also is considering high-end New
York hotel properties as an investment and even considered
The Chamberlin hotel in Hampton last year. He passed,
though, because the historical, waterfront property
was in need of repairs. “I’m not sure the
return on investment would have been there,” he
says. Phillips plans to open a Virginia office in a
renovated building in downtown Charlottesville sometime
this year, so he will have more time to enjoy his country
estate, Airslie, in Albemarle County.
Net Worth: $100 million
Confidence: A
JOHN W.
SNOW
Richmond. 65. Continues to serve as U.S. secretary of
the Treasury under President Bush. Snow is the president’s
point man on economic policy. Bush’s second-term
agenda promises to be a harder sell with Federal Reserve
Chairman Alan Greenspan warning about growing budget
deficits and public resistance to Bush’s proposal
to overhaul Social Security. Before becoming Treasury
secretary, Snow served as CEO of CSX Corp., which was
formerly based in Richmond. He still has a home in Richmond,
which he travels to on weekends.
Net Worth: $100 million+
Confidence: C
TAUBMAN
FAMILY
Roanoke. Nicholas F. Taubman, 69, retired chairman of
Advance Auto Parts rejoined the board of directors in
February 2004. The company, founded in Roanoke by his
late father, Arthur Taubman, is second largest retailer
of automotive parts in the U.S. Taubman is president
of Mozart Investments. Also serves on board of trustees
for the Virginia Historical Society. His wife, Eugenia,
is a trustee for the Virginia Museum of Fine Arts.
Net Worth: $100 million+ *
Confidence: C
UKROP
FAMILY
Richmond. Brothers James E. Ukrop,
68, and Robert S. Ukrop, 59, continue
to broaden geographic reach of family-owned grocery
chain with a store in Roanoke scheduled to open this
fall. That will give Richmond-based Ukrop’s Super
Markets Inc. 29 stores. The company was founded by their
parents, Joseph and Jacquelin Ukrop, in 1937. Matriarch
Jacquelin, who worked as company’s corporate secretary
for years, died in February at age 89. Ukrop’s
remains Rich-mond’s grocery market leader, and
the company is ranked by Fortune magazine as one of
the 100 best places to work in America. Ukrop’s
owns a 51 percent interest in First Market, a full-service
bank, which has locations in many of its stores. That
majority share didn’t change when SunTrust Banks
Inc. acquired National Commerce Financial Corp. —
the bank’s minority shareholder — earlier
this year. James Ukrop, chairman of Ukrop’s and
First Market, heads efforts to raise funds for a new
performing arts center in downtown Richmond. His wife,
Barbara, serves on the board of visitors for the College
of William & Mary. Bobby Ukrop, president and CEO
of Ukrop’s, also has been active in promoting
economic development and sports by serving on boards
of the Greater Richmond Partnership, Rich-mond Sports
Backers and Richmond First Tee. Ukrop’s contributes
to local charities through its Golden Gift program,
capital gifts, annual contributions, event sponsorships
and through its 10 percent discounts to nonprofits.
The Virginia Economic Developers Association named James
and Bobby as co-recipients of the 2004 Volunteer of
the Year Award for Virginia.
Net Worth: $100 million
Confidence: A
ALAN
M. VOORHEES FAMILY
Alexandria. Alan Voorhees, 82, is an angel investor
who owns a variety of properties around the state, including
the Berkeley Hotel in Richmond and the Westmoreland
Berry Farm. Trained as an engineer, he established a
reputation early in his career as an innovator in urban
planning. His ideas on using mathematical models for
forecasting traffic volume are still used by traffic
engineers throughout the country. In the past year,
he has received the AAG Presidential Achievement Award
from the Association of American Geographers and the
Lifetime Achievement Award at the Pan-American Conference
of Traffic and Transportation Engineering. Besides his
business interests, Voorhees is heavily involved in
plans for the Jamestown 2007 observance as well as activities
involving the Library of Virginia and the Virginia Historical
Society.
Net Worth: $100 million
Confidence: B
G. KEVIN
BRUCE
Goochland County. 49. President of Strategic Capital
Corp., a small private commodities trading firm in Richmond.
A low-key millionaire who wears a Timex watch and drives
a pickup truck, Bruce continues to build personal wealth
through disciplined saving and investing. Personal portfolio
increased by $5 million during the past year, thanks
to gains in U.S. stock market. Bruce invests primarily
in index funds. For 2005, he predicts a neutral, flat
year “because it’s difficult for the market
to go up when the Fed is raising rates. … The
bull’s on hold.” A fitness buff who works
out six times a week, Bruce serves on the board of directors
for the Tuckahoe YMCA and contributes to its general
fund annually.
Net Worth: $90 million
Confidence: A
STANLEY
F. PAULEY
Richmond. 77. Pauley is chairman and CEO of privately
held Carpenter Co., which employs 6,000 people and has
facilities in the U.S., Can-ada and five European coun-tries.
The comp-any makes poly-urethane foam, processed poly-ester
fiber and related products. A supporter of the arts,
Pauley was recently re-elected to the board of the Virginia
Museum of Fine Arts. In 2003, he donated $5 million
to the museum to help finance a new wing. Pauley is
a trustee at the Virginia Commonwealth School of Engineering
and member of the VCU Founder’s Society.
Net Worth: $90 million
Confidence: C
ROBERT
M. ROSENTHAL
Middleburg. 77. Chairman of Rosenthal Automotive Org-anization,
which operates 15 car dealerships in the Greater Washington
area. Opened his first dealership (Chevrolet) in 1954
in Arlington. The privately held company does more than
$1 billion in annual sales and has more than 1,500 employees.
Past president of the Washington Area New Car Dealers
Association and a former director of the Metropoli-tan
Washington Airport Auth-ority.
Net Worth: $90 million
Confidence: C
MICHAEL
E. SZYMANCZYK
Richmond. 56. Chairman and CEO of Philip Morris USA,
the world’s largest tobacco company. Szymanczyk
testified in April at a federal fraud trial against
major tobacco companies, saying that he has reoriented
Philip Morris USA toward efforts to reduce teen smoking
and to provide consumers information about smoking.
The U.S. Justice Depart-ment’s case suffered a
blow in February when a federal appeals court panel
ruled that prosecutors could not force tobacco companies
to pay $280 billion for profits gained over decades
through alleged fraudulent actions. Meanwhile, Philip
Morris has announced plans to build a $300 million research
and development center in downtown Richmond which will
create 500 jobs.
Net Worth: $90 million
Confidence: B
MACON
F. BROCK JR.
J. DOUGLAS PERRY
Virginia Beach. Brock, 63, is chairman of the board
of Dollar Tree Stores. A past CEO, Brock owns 2.7 percent
or more than 3 million shares of the discount variety
store chain he helped found in 1986. Today, the company
has 2,735 stores employing more than 11,000 full-time
workers in 48 states, including 125 stores in Virginia,
and a distribution center in Chesapeake. It has grown
through selective mergers and acquisitions and store
expansions. Sixty percent of its fixed price merchandise
— which sells for $1 — comes from domestic
suppliers with the remaining 40 percent of goods imported.
Perry, 56, another store co-founder, is the board’s
chairman emeritus.
Net Worth:
Macon F. Brock: $88 million*
J. Douglas Perry: $70 million
Confidence: B
WILLIAM
F. BRANDT, JR.
Winchester. 59. Since 1980, Brandt has served on the
board of directors for American Woodmark Corp., country’s
third largest manufacturer of kitchen cabinets and vanities.
It sells to remodeling and home construction markets
and through such distributors as Lowe’s and Home
Depot. Brandt is the board’s former chairman and
owns nearly 2 million shares, or 24 percent, of company’s
stock. With low mortgage interest rates spurring home
building and demand for its products, American Woodmark
reported revenues of $667 million for 2004, with sales
up 18 percent over the previous year.
Net Worth: $75 million*
Confidence: B
TIMOTHY
M. DONAHUE
Reston. 56. CEO, Nextel Communications Inc. Took over
as head of the wireless communications provider in 1999.
Under his guidance, Nextel grew to one of largest companies
in the U.S with market value approaching $32 billion
and 17 million subscribers. Equity could zoom to $70
billion if $36 billion merger with Sprint Corp. closes
as scheduled in the second half of this year. Newcomer
to the list collected about $26 million in compensation
in fiscal 2003 and holds exercisable options worth $47.4
million as well as a large chunk of Nextel stock. Also
serves as a director of Nextel Partners Inc. and Eastman
Kodak Co. Chairman of the Cellular Telecommunications &
Internet Association.
Net Worth: $75 million
Confidence: B
JOHN
G. BALLENGER
Middleburg. 73. Longtime entrepreneur shuttered his
startup, Blue Chip Technologies Inc., citing lack of
business. Company was launched to provide turnkey technologies
to amusement parks. Several real estate ventures of
Ballenger Enterprises Inc. are “still in study
phases,” including coastal property for condominiums
in southern Maryland, an assisted-living facility in
Delaware and purchase of government-subsidized housing
in other states. Meanwhile, Ballenger’s Brigadoon
Farms in Middleburg continues to raise Black Angus cattle.
Ballenger’s hobbies include horse racing. Last
year, he sold one racehorse and purchased another.
Net Worth: $72 million
Confidence: A
WILLIAM
H. GOODWIN JR.
Richmond. 64. Chairman of CCA Industries, a diversified
holding company whose holdings include The Jefferson
Hotel in Richmond and The Sanctuary at Kiawah Island,
a plush, oceanfront resort in South Caro-lina. Also
CEO of The Riverstone Group LLC, a family-owned company
that in March acquired Sea Pines Co. of Hilton Head,
S.C., for $74 million, including a real estate company,
resorts, golf courses, and other development rights.
He and wife Alice T. Goodwin are among the largest donors
to Virginia Commonwealth Uni-versity’s expanding
Massey Cancer Center and the Cancer Center at the University
of Virginia’s Health System. Philanthropy also
includes major donations to U.Va.’s Center for
Politics. Stepped down as member of the board of visitors
at U.Va. in February after eight years. The university
honored the Goodwin’s philanthropy by naming new
pedestrian bridge on campus in their honor. Stock holdings
in Wachovia Corp., where Goodwin has served on board
of directors since 1993, top $55 million.
Net Worth: $70 million
Confidence: C
JOHN
M. JACQUEMIN
Vienna. 58. President, CEO and founder of Mooring Financial
Corp, a private investment firm. The company started
in 1982 leasing commercial equipment. It grew dramatically
during the early 1990s by buying out equipment-leasing
portfolios of struggling banks. Then, it began bidding
on banks’ commercial loan portfolios. “It
transformed the company and built on our core skills,”
says Jacquemin. Today, the company has more than $350
million in financial assets under management, including
tax liens, real estate and other specialized investments.
Its headquarters office at Tysons Corner employs 40
people. Major shareholder Jacquemin serves on the board
of the Wolf Trap Foundation for the Performing Arts
and is a director for Penn National Gaming Co., a public
company that owns and operates gaming properties and
racetracks. He started the Jacquemin Family Foundation
in 1997 to provide educational and artistic opportunities
for underserved children in the Washington area. A trust
started in 2004 will benefit the Wolf Trap Education
program, with $30,000 earmarked over the next year for
educational materials for preschool children.
Net Worth: $69.5 million
Confidence: A
JOHN H.
FAIN
Virginia Beach. 56. Fain sits on the board of directors
at Keane Inc., a Boston-based software company that
acquired his Hampton Roads-based IT consulting firm,
Metro Information Services, in 2001. Fain still holds
more than 2.7 million shares of Keane stock, worth about
$35 million. He also sits on the board of The Virginia
Beach Foundation, which supports a variety of endeavors
throughout the community.
Net Worth: $55 million
Confidence: C
THOMAS
E. CAPPS
Richmond. 69. The chairman of Dominion Resources, Inc.
— one of country’s largest energy producers
and electric supplier for about 80 percent of Virginia’s
population — is stepping aside as CEO sometime
before April 2006. Moving up will be President and COO
Thomas F. Farrell II. Capps plans to remain as chairman
for a while. His departure comes at a time of expansion.
In 2004, Dominion boosted its natural gas production
with a new offshore platform in the Gulf of Mexico.
It’s in preliminary planning stages for the possible
construction or licensing of a third nuclear reactor
at its North Anna plant in Louisa County, a project
that drew protesters during company’s annual meeting.
Efforts to obtain rate certainty in Virginia have gone
smoother. Last year the General Assembly extended capped
rates until 2010 for Dominion Virginia Power, company’s
largest subsidiary, to give Virginia’s competitive
market more time to develop. In another step towards
deregulation, Dominion transferred operational control,
but not ownership, of its 6,000 miles of transmission
lines to the PJM Interconnection. Capps serves on the
board of visitors for the College of William & Mary
and as a director for Amerigroup Corp. of Virginia Beach,
a managed health-care company.
Net Worth: $50 million
Confidence: B
PATRICIA
KLUGE
Charlottesville. 56. Since her divorce from billionaire
John Kluge Sr., Patricia has remarried and started a
winery on her 1,800-acre Albemarle County estate. Today,
she’s owner and chairman of Kluge Estate Winery
and Vineyard. The socialite-turned vintner has 100 acres
under vine and already is winning medals for her wines.
Since starting the venture in 1999, Kluge has showcased
her vintages through a gourmet farm market and at Fuel,
a restaurant-deli-gas station in Charlottesville. Kluge
operates the winery with husband, Bill Moses, a former
lawyer, IBM executive and co-chairman of Gov. Mark R.
Warner’s Wine Study Work Group. Another new project
is Vineyard Estates, a controversial 511-acre residential
development, set among her vineyards. It will allow
for 24 homes, with a minimum square footage of 6,000
feet, to be built on parcels ranging from five to 38
acres. Some neighbors opposed the project, fearing it
will set a precedent for future development in agricultural
districts.
Net Worth: $50 million +
Confidence: C
SANJU
K. BANSAL
Vienna. 39. Vice chairman, executive vice president
and CEO of McLean-based MicroStrategy Inc. Netted proceeds
of $10.3 million though stock sales last year. The business-intelligence
software maker posted annual sales topping $231 million,
a one-year surge of nearly 32 percent. Bansal also owns
a 10 percent equity stake in CVent Inc., an Arlington
company providing Web-based tools for event and meeting
planning.
Net Worth: 40 million
Confidence: C
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