McGLOTHLIN FAMILY,
Grundy and Bristol Net Worth: $350 million
+ (Includes assets
held in trust or by other family members)Confidence: C
The McGlothlins made their fortune in coal. The family patriarch,
the late Woodrow Wilson McGlothlin, started Diamond Smokeless Coal Co.
in the mid-1950s. He passed away in September at the age of 91. His oldest
son,
James W. McGlothlin, worked with his father and a group of associates in
starting United Coal Co. in Bristol in 1970. (The company later became
known as The United Co.) The company branched into other concerns before
the McGlothlins
sold it in 1997. The family used some of the proceeds to start The McGlothlin
Foundation, which funds a variety of education-related causes in Southwest
Virginia. Another son, Thomas D. McGlothlin is president of the foundation.
A third son, Michael D. McGlothlin, is a lawyer living in Grundy who serves
as a director of the foundation. In 2004, James restarted United Coal Co.
With four subsidiaries in West Virginia,
Kentucky and Virginia, it’s now one of the largest coal companies in the
country. Earlier this year, United allowed John and Joe Gregory of Bristol to
invest in the company. They are its first investors outside the McGlothlin family.
James and his wife, Francis, last year contributed art and financial support
worth more than $100 million to the Virginia Museum of Fine Arts. Their legal
residency is Austin, Texas, but they also have a home in Bristol.
BERTRAM AND DIANA JOHNSON FIRESTONE, Upperville Net Worth: $330 million Confidence: C
Bertram
R. Firestone, 74, and Diana Johnson Firestone, also 74, remain active in equestrian
events. They have
Thoroughbreds training with Michael Matz,
a three-time equestrian Olympian who trained Kentucky Derby winner Barbaro. Diana
Firestone’s Genuine Risk became the second filly to win the Kentucky Derby
in 1980. She is an heiress to the Johnson & Johnson fortune. Bertram Firestone
made his own fortune in real estate and breeding and racing horses. Daughter
Alison Firestone, 34, was selected as one of 10 riders and two alternate jump
riders to represent the United States in the 2006 FEI World Cup in Kuala Lumpur,
Malaysia. She qualified for the 2004 Olympic team and went as an alternate and
has had many top-five finishes in grand prix events. The Firestones are supporters
of Morven Park International Equestrian Center in Leesburg.
MICHAEL SAYLOR, McLean Age: 41 Net
Worth: $318 million Confidence: B
As MicroStrategy continues to rebound,
so do fortunes of its chairman, CEO, president and co-founder, Michael Saylor.
His net worth, however, has not returned to the estimated $900 million seen during
the heyday of dot-com stocks. Revenues for MicroStrategy, a McLean-based business
intelligence software provider, were up 16 percent to $268.7 million last year.
Saylor owns more than 3 million shares, enough for a controlling stake in the
company. He was paid more than $2 million in salary and bonus last year. Though
he keeps a lower profile these days, his birthday parties continue to be the
stuff of legends. The Washington Post reported that on his 41st birthday Saylor
dressed as a ringmaster for a few hundred pals at the Mellon Auditorium. The
event dubbed “Mr. Saylor’s
Circus” featured stilt walkers, acrobats, a rapper and disco band. At work,
Saylor focuses on expanding the business, which has more than 1,000 employees
around the globe.
NICEWONDER FAMILY,
Bristol Net Worth: $300 million+ Confidence: C
For years brothers Don and J.D. Nicewonder and other family members
held controlling interests in the private Nicewonder Coal Group. It was sold
in October to Abingdon-based Alpha Natural Resources for $316.2 million. The
deal included mines and operations in West Virginia and in Buchanan County, Va.,
with the Buchanan site offering untapped coal reserves covering 28,000 acres.
The sale is expected to add about 4.3 million tons, or 20 percent, to Alpha’s
coal output. The Nicewonders also own real estate. In 1992 Don was the developer
for the Virginian Golf Club in Bristol, a private golfing residential community.
Under the terms of the buyout with Alpha, he will continue to serve as a consultant
to the company for three years. The Nicewonder brothers are life members of the
Virginia Tech Foundation.
W. RUSSELL RAMSEY,
Great Falls Age: 46 Net
Worth: $300 million Confidence: A
Managing
general partner of Ramsey Asset Management, a hedge fund with more than $350
million in assets. Also a director of Friedman, Billings,
Ramsey Group Inc., which he co-founded in 1989. He’s also vice chairman
of the board of trustees of George Washington University, where he attended on
a baseball scholarship, and has been elected to the school’s athletic hall
of fame. Also serves on boards of the Virginia Foundation for Independent Colleges
and Capital Investors, as well as a trustee of the Boys and Girls Clubs of the
National Capital Area. Co-chairman of former Gov. Mark Warner’s political
action committee to help elect Democrats nationally. Recently partnered to underwrite “Rocking
the Corps,” a celebration produced by Quincy Jones and featuring performances
by singers including Beyoncé and Hootie and the Blowfish to honor 50,000
Marines returning from Iraq. Ramsey is an active fund raiser with several groups
including Big Brothers/Big Sisters, the Boys and Girls Clubs, Venture Philanthropy
Partners, Make-A-Wish Foundation, School Night and Fight for Children.
BETTY KNIGHT SCRIPPS
Charlottesville, East Hampton, N.Y., and Nassau, Bahamas Net Worth: $300 million Confidence: B
Chairwoman of Charlottesville-based
Scripps Enterprises Inc., a private firm with holdings in publishing, real estate,
oil and gas. She and late husband Edward W. Scripps owned Scripps League Newspapers,
which had 54 publications in 16 states. They sold the company in 1996. For past
several years, she has chaired the annual Washington National Opera Ball, donating
$1 million to the organization each year. Other charitable activities include
chairing the Candlelight Ball for the Scripps Hospital in La Jolla, Calif., and
supporting the Mayo Clinic. The Scripps League Newspapers Education and Research
Fund continues to provide financial assistance to journalism students at Brigham
Young University. Scripps also established the Scripps Library at the Miller
Center of the University of Virginia.
RODNEY P. HUNT, McLean Age: 45 Net
Worth: $265 million Confidence: A
President
and CEO of RS Information Systems Inc. Hunt has won a slew of awards for his
fast-growing technology company, including the 2005 Minority
Small Business Champion of the Year for the Washington area by the Small Business
Administration and the 2004 Executive of the Year for a midsize company by the
Professional Services Council and Washington Technology. (See
profile)
PAUL C. SAVILLE, Reston Age: 50 Net
Worth: $265 million Confidence: B
CEO
and President of NVR Inc., one of country’s largest homebuilding
and mortgage banking companies. Succeeded founder and Chairman Dwight C. Schar
as top executive in July 2005. Before that, Saville served as NVR’s CFO.
He owns 4.8 percent of company’s shares, valued at more than $200 million.
NVR had its most profitable year in 2005 with revenues of $5.3 billion, up 22
percent over 2004 figures. Not a speculative builder, it prefers to purchase
finished lots from local developers in 23 metropolitan areas. Saville earned
his bachelor’s degree in business administration from the College of William
and Mary (1977) and MBA from the University of Pittsburgh. He worked briefly
for Rockwell International before joining Ryan Homes, NVR’s predecessor,
in 1981.
NICHOLAS D. CHABRAJA,
Falls Church Age: 63 Net
Worth: $264 million Confidence: B
Chairman
and CEO of General Dynamics Corp., one of country’s
largest defense contractors. Chabraja has led company since 1997. In 2005 company
reported record earnings of $1.46 billion on revenue of $21.2 billion. Its stock
price has risen smartly since the first of the year, from just below $58 a share
to nearly $70 in April, and that increase has boosted the value of his holdings
considerably. Chabraja also earned salary and bonus of $4.3 million in 2005.
He began with General Dynamics in 1993 as its corporate counsel. Also serves
as a director at Ceridian Corp.
JOSEPH E. ROBERT JR., McLean Age: 55 Net
Worth: $260 million Confidence: C
When
Chinese President Hu Jintao came to lunch at the White House in April, Robert,
chairman and CEO of J.E. Robert
Cos., was on the guest list. Robert started his private company in 1981 with
a borrowed typewriter and $10,000 in savings. His company is divided into four
divisions: JER Partners U.S. and JER Partners Europe invest in commercial real
estate in more than 14 countries; JER Investors Trust, a publicly traded (NYSE)
structural finance company, invests in commercial mortgage-backed securities
and completed a $416 million public offering last fall; JER Revenue Service is
one of the nation’s leading delinquent tax-servicing firms. Robert is founder
and chairman of Fight For Children
Inc., which raises money for children’s charities.
RACHEL “BUNNY” MELLON, Upperville Net Worth: $250 million (Includes
assets held in trust or by other family members)Confidence: C
Widow of Paul Mellon, one of country’s
best-known philanthropists and art collectors, who gave away $1 billion to various
causes in his lifetime.
Mrs. Mellon, who helped design the Rose Garden in the White House for Jacqueline
Kennedy, shares her late husband’s passionate support for the arts. Paul
Mellon, son of industrialist Andrew W. Mellon, was also a horseman whose Thoroughbreds
won three Triple Crown races during his lifetime. Mellon collected equestrian-related
art and donated much of it to the Virginia Museum of Fine Arts in Richmond and
the U.S. Cavalry Museum. Rokeby, the couple’s farm in Northern Virginia’s
hunt country, was included in the 2006 Virginia Hunt Country Stable Tour, an
annual Memorial Day weekend fund-raiser for Trinity Episcopal Church that allows
self-driven tours through some of hunt country’s most prestigious stables
and training facilities.
SAUER FAMILY, Richmond Net Worth: $250 million Confidence: C
The familiar C.F. Sauer Co. sign
along Richmond’s Broad Street stands as a tribute to a family business
that has flourished for more than 120 years. Conrad F. Sauer III serves as chairman
and Conrad IV as president of the company. Two other Sauers are vice presidents.
Family members own an estimated 95 percent of the private company, founded in
1887. Sauer has grown to more than 900 employees and has annual revenue of $276.9
million. Along with more than 250 extracts and seasonings, the company sells
salad dressings and oils through retail and food service subsidiaries, which
include Dean Foods, BAMA food products,
The Spice Hunter and Duke’s Products Co. Familiar brands include Gold Medal
and Mrs. Filbert’s Mayonnaise. Sauer also owns Pleasants Hardware, a Richmond
landmark.
VAN METRE FAMILY, Burke Net Worth: $250 million Confidence: A
Albert G. Van Metre Sr., 80, is chairman and CEO of
Van
Metre Cos., a real estate firm he founded in 1955, which develops residential
and commercial
projects. Planned communities include Lansdowne on the Potomac and Raspberry
Falls. Earlier this year company announced a $1.8 million investment in a building-supply
plant in Capon Bridge, W.Va. The plant will manufacture windows, doors, and roof
and floor trusses, helping to supply Van Metre with building products. Northern
Virginia’s booming real estate market gave the firm a strong 2005, boosting
family fortune to $250 million, a gain of $70 million from last year. Van Metre
Cos. observed its 50th anniversary last year and contributed more than $600,000
to area charities. Management team includes Vice Chairman Beau Van Metre (Albert’s
son), President Rick Rabil, Group Presidents Brad Gable (Albert’s stepson)
and Ken Ryan and family trustee Larry Bensignor, each of whom have ownership
stakes in the company.
DAVID R. GOODE,
Norfolk Age: 65 Net
Worth: $214 million Confidence: B
Former
chairman and CEO, Norfolk Southern Corp. Goode retired from company in February
after a 40-year career,
including 13 years as CEO. He went out with a flourish, at least as far as Wall
Street is concerned. The company’s stock has performed admirably since
2001, climbing from about $15 a share at the beginning of that year to around
$55 a share in mid-April. Last year company earned nearly $1.3 billion
on revenue of $8.5 billion, its best year ever. Succeeding
Goode as CEO is C.W. “Wick” Moorman, the
company’s former president. Goode still serves
on a variety of corporate boards including Caterpillar
Inc., Delta Air Lines Inc. and Texas Instruments Inc.
He also serves on board of trustees of the Virginia Foundation
for Independent Colleges. The strong growth in Norfolk
Southern’s stock price has boosted Goode’s
net worth. According to company’s 2006 proxy statement,
he owns approximately 3.2 million shares.
DOUGLAS H. McCORKINDALE,
McLean Age: 66 Net
Worth: $200 million Confidence: B
McCorkindale,
chairman of Gannett Co. Inc., will turn 67 on June
14 and will retire from company at the end of
the month. Stepped down as CEO last July after leading the McLean-based communications
company since 2000. He has worked for Gannett in various executive roles
since 1971. Gannett, publisher of USA Today, owns 91
daily newspapers, 1,000 nondaily
publications and 21 television stations in the United States. Also publishes
more than 300 titles, including 17 daily newspapers, in the United Kingdom.
The company’s revenue rose 4.3 percent last year to $7.6 billion, while
net income per share rose 13 cents to $5.05. McCorkindale serves on the boards
of The Associated Press, Continental Airlines and Lockheed Martin Corp. He
also is a director or trustee of many mutual funds in the Prudential Group.
Like other media executives, he has seen his Gannett stock depressed by Wall
Street’s disfavor, an industry-wide trend that led to the recent sale
of Knight Ridder’s newspapers. Gannett stock was trading around $60
a share in early April, down about $20 from its 52-week high.
NIGEL W. MORRIS, Alexandria Age: 47
Net Worth: $200
million Confidence: C
In the 1990s Morris teamed up with fellow Virginia
100
regular Richard Fairbank to create McLean-based
Capital One Financial Corp., which became a powerhouse in the credit-card
business. He served as president and COO at Capital One until his departure
in 2004.
In March, he joined Alexandria-based Columbia Capital, a venture capital
firm specializing in the communications and information technologies industries,
as a venture partner. A native of the United Kingdom, Morris serves on the
board of governors at the London Business School (from which he earned a
master’s
degree) and the boards of The Economist Group and Quanta Capital Holdings,
a Bermuda-based insurance company. He also is co-chairman of the political
action committee for former Virginia Gov. Mark R. Warner, who is exploring
a presidential bid for 2008.
ROBERT M. ROSENTHAL, Middleburg Age: 78 Net
Worth: $200 million Confidence: B
Chairman
of Rosenthal Automotive Organization. Its 19 car dealerships in Greater Washington
area do about $1 billion in annual sales,
ranking the
company 23rd among mega-dealers nationally, according to Ward’s Dealer
Business. Company started with a single Chevrolet dealership in Arlington
in 1954. Opened two new dealerships last year in Chantilly, including a Jaguar
Land Rover unit. Rosenthal made an estimated $100 million last fall when
the
Capital Automotive REIT he co-founded in 1998 sold the land of nearly 350
auto showrooms for $3.4 billion. A past president of the Washington Area
New Automobile
Dealers Association and former director of the Metropolitan Washington Airport
Authority, Rosenthal serves on the Trustee Council of the National Gallery
of Art.
MARK R. WARNER, Alexandria Age: 51 Net
Worth: $200 million Confidence: C
Former Gov. Mark R. Warner is a private citizen again
but you would think he still occupied the Executive
Mansion from his high profile and frequent public appearances. Warner ended
his four-year term on a high note, helping Lt. Gov. Timothy M. Kaine become
his successor. The election burnished Warner’s reputation as a moderate
Democrat who can win votes in a predominantly Republican Southern state.
He began an as-yet unofficial bid for the 2008 presidential nomination before
he left office and has been raising money and campaigning for fellow Democrats
ever since. He is “honorary chairman” of Forward Together, a
political action committee. The former governor is getting good reviews from
Democrats
seeking an alternative candidate to New York Sen. Hillary Rodham Clinton.
Warner has been in the political spotlight so long that many forget that
he is a multimillionaire
who made a fortune in the cellular phone business. His holdings were held
in a blind trust during his term as governor.
DANIEL F. AKERSON, McLean Age: 57
Net Worth: $190
million Confidence: C
Managing
director of the well-connected Carlyle Group is co-head of its U.S. Buyout
fund. It recently added Hertz car
rental, Dunkin’ Brands’ Dunkin’ Donuts and Baskin Robbins
to its portfolio for $15 billion and $2.4 billion, respectively. The fund
was the largest buyout fund ever when it was created a year earlier. The
former
president and COO of MCI Communications also previously served as chairman
of XO Communications and CEO at Nextel Communications. Akerson, a 1970
U.S. Naval Academy graduate, serves as a director of the U.S. Naval Academy
Foundation.
Sits on boards of American Express, United Components, WILLCOM and Hawaiian
Telcom, where he is the chairman of the board of directors.
THE REV. M. G. "PAT" ROBERTSON,
Virginia Beach Age: 76
Net Worth: $190
million Confidence: B
Religious
broadcaster drew public rebuke this year from evangelical and political
leaders for on-air
comments suggesting the assassination of Venezuela’s president and
for saying that Israel Prime Minister Ariel Sharon’s stroke was possibly
the result of divine punishment. Robertson, founder of the Christian Broadcasting
Network and its “700 Club”, later apologized for the remarks.
Despite these slips of the tongue, donations to his ministry were up 21
percent. CBN
recently opened a seven-studio major production facility in Nashville,
Tenn., and another facility in Washington. One of Robertson’s largest
philanthropic efforts, Operation Blessing International, donated $22.2
million worth of medicine
to the Louisiana State Medical Center after Hurricane Katrina hit the state.
The organization provided $4.5 million in cash grants to charities for
hurricane relief and even contributed thousands of mosquito-eating fish
to help ward
off mosquitoes from abandoned pools. Robertson also series as president
and chancellor of Virginia Beach-based Regent University. One of the school’s
graduates is Virginia’s new attorney general, Bob McDonnell. Robertson
owns a 200,000-acre gold concession in Liberia and says he is moving in
three drilling rigs now that the price of gold has climbed to over $600
an ounce.
