Virginia Business Magazine: 2007 Virginia 100

MARS FAMILY
McLean and Arlington
Based in McLean with annual sales of $19 billion, Mars Inc. is one of the world's largest privately held companies, with emphasis on the word private: It doesn't issue an annual report, and the company routinely refuses media interviews. Founded in 1911 in Tacoma, Wash., by candy makers Frank and Ethel Mars, creators of the Milky Way bar, the company is chaired by their youngest grandson, John Franklyn Mars, 71, who lives in Arlington. Mars and his two siblings - Forrest Edward Mars Jr., 76, of McLean, and Jacqueline Mars, 66, of Bedminster, N.J. - collectively hold the No. 58th spot on this year's Forbes magazine list of the world's billionaires, with an estimated net worth of $10.5 billion. (Comparatively, America's richest man, Microsoft founder Bill Gates, has a net worth of about $50.3 billion.) The Mars family doesn't oversee day-to-day management of Mars Inc. It manufactures such staples as M&Ms and Snickers bars, as well as pet foods and the Uncle Ben's line of rice products.
Net worth: $10.5 billion
Confidence: B

WINKLER FAMILY
Alexandria
After selling off its vast real estate holdings for $2.3 billion last year, the family firm that employed 375 and owned 5,000 apartments and 3.6 million square feet of commercial space operates as an investment company with six employees out of an Alexandria office. The Mark and Catherine Winkler Foundation, named after the founder and his wife, distributed almost $250,000 in 2005. Of the money, $125,000 went to the Potomac School in McLean and $50,000 to the Child & Family Network Centers in Alexandria, according to the foundation's most recent tax filing.
Net worth: $1.8 billion+
Confidence: C

WINNIE JOHNSON-MARQUART
Virginia Beach | Age: 47
One of the late Sam Curtis Johnson's four children, Johnson-Marquart joined SC Johnson in 1986, 100 years after the Racine, Wis.-based company was started by her great-great-grandfather. Sam Johnson transformed the floor wax company, growing the company to a $6 billion enterprise with four family businesses. Johnson-Marquart inherited $1.5 billion when her father died in 2004. She ranks No. 618 on Forbes' list of the world's billionaires. The mother of four children graduated from Cornell University, her father's alma mater. Currently, Johnson-Marquart works part time as a project coordinator in corporate public affairs for SC Johnson. She is married to Michael Marquart, who runs Windmark Studios, a music recording studio in Virginia Beach. She serves as president of The Johnson Family Foundation which provided large grants in 2005 to the Prairie School, a college preparatory school in Racine; the Racine County Pony Club, an equestrian center; and Norfolk Academy, where Johnson-Marquart serves as a member of the board of trustees. She was heavily involved in a $40 million fundraising campaign for the school's John H. Tucker Jr. Arts Center. The arts center includes the Samuel C. Johnson Theater.
Net worth: $1.6 billion
Confidence B

FRANK BATTEN SR.
Virginia Beach | Age: 80
The retired chairman and CEO of Norfolk-based Landmark Communications continues to make his mark as a philanthropist. In April, the University of Virginia announced that Batten is giving the school $100 million - the largest single gift in its history. The money will be used to start the first new school in more than five decades: the Frank Batten School of Leadership. Batten earned his bachelor's degree from U.Va. in 1950. Son Frank Batten Jr. graduated from the university's Darden Graduate School of Business Administration in 1984. In November, before the U.Va. gift became public, BusinessWeek ranked Batten Sr. and his wife Jane as 37th on its 2006 list of 50 Most Generous Philanthropists in America. According to the magazine, the Battens have given or pledged $228 million from 2002 and 2006, most of which went to education and early childhood development. Forbes magazine pegs Batten as the 664th richest person in the world with an estimated net worth of $1.5 billion. In 2006, Batten received the Downtown Norfolk Council's Lifetime Achievement Award, the first of its kind, for his philanthropic and community endeavors. He continues as a director at privately held Landmark, now run by his son.
Net worth: $1.5 billion
Confidence: B

SHEILA C. JOHNSON
The Plains and Wellington, Fla. | Age: 57
The billionaire entrepreneur continues to invest in Virginia. The only woman in the country with a stake in three professional sports teams - Washington Mystics of the WNBA, the Washington Wizards of the NBA and the Washington Capitals of the National Hockey League - Johnson was honored last month by the National Foundation for Teaching Entrepreneurship as the first local woman Entrepreneur of the Year. The Washington, D.C., nonprofit recognized Johnson for her business achievements and philanthropy. She recently pledged $5 million to the Curry School of Education at the University of Virginia to create a center for human services that will assist needy families. She also serves as an ambassador for CARE, a humanitarian group that fights global poverty. Meanwhile, she continues as CEO of Salamander Hospitality, which has a resort and spa under construction in Middleburg. In April, the Middleburg Town Council gave the green light for the project to expand from 120 to 168 rooms, with more rooms needed to counter rising construction costs. Johnson reportedly became the nation's first black female billionaire after the sale of Black Entertainment Television in 2000 to Viacom for $3 billion. She co-founded the company with her former husband, Robert Johnson, and the divorced couple split the proceeds. In 2005, she married William T. Newman, chief judge of Arlington Circuit Court.
Net worth: $1.5 billion
Confidence: B

RANDAL J. KIRK
Radford | Age: 53
As buyouts go, the numbers were pretty impressive: $1.2 billion for Kirk's 50 percent share in New River Pharmaceuticals, or $64 per share for stock that sold for as little as $8 per share during its IPO in 2004. Kirk, founder, chairman and CEO of New River Pharmaceuticals, started the company 11 years ago. In April, United Kingdom-based Shire PLC bought it for $2.6 billion. The attraction: access to Vyvanese, a new drug for attention deficit disorder with abuse-resistant qualities. The deal bumped Kirk's net worth from $700 million in 2006 to more than $1 billion. And his deal-making days aren't over. Kirk tells Virginia Business that the team at Third Security LLC in Radford, a private investment management firm he started in 1999, has more irons in the fire. It has opened an office in San Francisco and is working with seven portfolio companies, including Clinical Data Inc. (Nasdaq: CLDA). Third Security owns 42 percent of the Rhode Island company's shares. Kirk has served on the board since 2002 and is currently its chairman. Third Security also holds a position in Intrexon Corp., a private biotechnology R&D company with primary operations at the Virginia Tech Corporate Research Center in Blacksburg that's expected to have a portfolio of 600 patents by next year. "So, as you can see, we have not been idle," says Kirk. In fact, he predicts future performances as impressive as New River's numbers. Kirk's four-year term as a member of the board of visitors at Radford University - where he is rector - ends this month. He earned a bachelor's degree in economics from Radford in 1976 and went on to get a law degree from the University of Virginia. He has been a pivotal figure in capital fundraising for Radford and donated $1 million in 1999.
Net worth: $1.2 billion
Confidence: B

RAJ AND NEERA SINGH
Alexandria
The wireless communications pioneers are investing more in philanthropy. In 2006, they transferred 4 million shares of LCC International worth $16.6 million to the Raj and Neera Singh Charitable Foundation. LCC International is the wireless consulting firm they founded with $1,000 in 1983. Neera manages the family's portfolio, while Raj manages Telecom Ventures LLC, which started a major wireless cable operation in Argentina. Last year, the University of Maine presented the couple with its Stillwater Presidential Award for Achievement in recognition of their "remarkable and inspiring" journey from poverty in India to careers that have advanced telecommunications and philanthropy. Raj Singh is a 1977 University of Maine graduate. The Singhs also endowed a chair in the Department of Chemical Engineering at the Indian Institute of Technology in Kanpur where he received a distinguished alumnus award in 2000. Raj remains a trustee at Marymount University in Arlington and serves on the U.S. Chamber of Commerce board of directors.
Net worth: $1.2 billion
Confidence: A

STEPHEN M. CASE
McLean | Age: 48
Goodbye AOL, Hello Gratiscard. After resigning in 2003 as chairman of AOL after its rocky merger with Time Warner, Case has thrown himself into new business ventures. His private investment firm, Revolution LLC, has launched startups in health care, hospitality and now, credit cards. Case's latest endeavor is Gratiscard, which seeks to undercut fees charged by credit-card giants Mastercard and Visa in an effort to increase credit accessibility to low-income consumers. Case isn't going the new project alone. AOL Vice-Chairman Theodore Leonsis and former Secretary of the Treasury Lawrence Summers sit on Gratiscard's board. Case was reinstated as a billionaire this year by Forbes magazine. In 2005, he bought Merrywood, the McLean childhood home of Jacqueline Kennedy Onassis, for $25 million. He supports charity through his Case Foundation, which donated $5 million to the Clinton Global Initiative to help bring clean water to sub-Saharan Africa. Case also serves as chairman of the Accelerate Brain Cancer Cure, a nonprofit dedicated to finding a cure for brain cancer, a disease that killed Case's brother in 2002.
Net worth: $1 billion
Confidence: B

SMITH/KOGOD FAMILY
Crystal City and Washington
Charles E. Smith Commercial Realty, a division of Vornado Realty Trust, continues to be a major player in Washington, D.C.'s commercial real estate market. It owns 15.9 million square feet of office properties and manages 8 million square feet of office and commercial space. In recent years, the company renovated Crystal City, a popular office destination that draws tenants wanting easy access to the nation's capital. The company was started by Charles E. Smith in 1946. Robert H. Smith, 78, and Robert P. Kogod, 75, continue to serve as directors for both Vorando and Archstone-Smith, (a real estate investment trust that the residential division of Charles E. Smith merged with in 2001). Robert Smith is the son of the late Charles E. Smith, who died in 1995. Kogod is Robert Smith's son-in-law. Both men have given generously to their alma maters, establishing the Robert H. Smith School of Business at the University of Maryland and the Kogod School of Business at American University. Kogod also donated $25 million in 2004 to the Smithsonian Institution and created the Robert & Arlene Kogod Program on Aging at the Mayo Clinic in 2002.
Net worth: $1 billion
Confidence: A

CARL D. SILVER
Fredericksburg | Age: 81
The founder of real estate developer Silver Cos. has turned the reins over to his son, Larry. The private company continues to add to its portfolio, which includes 11 million square feet of commercial development and 50,000 residential units. Silver's vision for the 2.4-million-square-foot Celebrate Virginia in Fredericksburg now includes a fourth hotel, a 139-room Hyatt Place. It will join three Hilton properties in the mixed-use tourism and conference center. Tax credits for the project, though, remain in question with a recent denial of the credits by the state Department of Taxation. Another new project slated for Celebrate Virginia is WorldStreet Development, a destination retail attraction where vendors can buy space. It's scheduled to open in 2008. Philanthropy is a main priority for Silver these days. The Silver Foundation gave away $390,000 from May 2005 through April 2006, including $222,000 to the American Red Cross and Hurricane Katrina relief. His $2 million contribution last year to the Moss Free Clinic in Fredericksburg helped the outpatient medical center for the poor reach its $10.2 million goal
Net worth: $800 million
Confidence: B

RICHARD D. FAIRBANK
McLean | Age: 56
Fairbank continues to be chairman and CEO at Capital One, the credit card giant which diversified by combining its nationally known name with a retail banking franchise. But just as other banks have suffered a downturn in profits as a result of mortgage-related problems in the wake of a cooled down housing market, so has Capital One. While revenue was up for the first quarter of this year, the company posted lower profits, which sent stock prices down and caused the company to back off earnings projections of $7.40 to $7.80 a share to a range of $7 to $7.40 per share. What happens to the stock effects Fairbank directly. Since 1997, he has given up salary, bonus and other cash incentives in exchange for options or performance-based shares. Overall, he has made out pretty well over the past five years, taking home more than $306 million in pay, according to Forbes magazine. He owns more than 2.3 million shares outright and has unexercised-but-vested options on another 5.9 million shares. By the end of 2006, Capital One had $85.8 billion in deposits and $146.2 in managed loans. Fairbank is also a partner in Washington, D.C.-based Lincoln Holdings LLC, which owns the NBA's Washington Wizards, the Washington Capitals pro hockey franchise, Washington's Verizon Center and the Baltimore/Washington, D.C. Ticketmaster franchise.
Net worth: $750 million+
Confidence: B

FRANK BATTEN JR.
Norfolk | Age: 48
Chairman and CEO of Landmark Communications Inc. The private company's key properties include The Virginian-Pilot, The Roanoke Times and The Weather Channel as well as television stations in Las Vegas and Nashville. Batten's philanthropic efforts are channeled through The Aimee & Frank Batten Jr. Foundation, which donated more than $11 million to charity in 2005: Largest donations were $2.4 million to All India Mission and $2 million to Focus on the Family, a Christian organization in Colorado Springs, Colo. Batten also is president of the Landmark Communications Foundation, which contributed more than $3 million in 2005, with much of that amount going to local colleges. The company has invested in several emerging businesses, such as Continental Broadband Inc., a managed data network services company, and Landmark Education Services in Norfolk, which owns career schools focusing on allied health.
Net worth: $700 million
Confidence: C

GOTTWALD FAMILY
Richmond
The Gottwald family owns significant stock in three publicly traded Richmond companies - Albemarle Corp., Tredegar Corp. and NewMarket Corp. William M. Gottwald, 59, is chairman of Albemarle, a specialty chemicals manufacturer. His father, Floyd D. Gottwald Jr., 84, retired from the board in April, but will continue serving as a director and chairman emeritus with non-voting status. William and Floyd, along with other Gottwalds, own more than 16.6 percent of Albemarle's stock, valued at about $466 million. William Gottwald's brother, John D. Gottwald, 52, is CEO of Tredegar, which manufactures film and aluminum extrusions. The Gottwalds own more than 20 percent of Tredegar's stock, valued at about $117 million. Floyd's younger brother, Bruce C. Gottwald, 73, is chairman of NewMarket, a holding company for two fuel-additive manufacturers - Afton Chemical Corp. and Ethyl Corp. In March, Bruce co-hosted a fund-raiser for Republican former Gov. Jim Gilmore's presidential exploratory campaign at the Richmond Marriott in March with former Secretary of the U. S. Treasury John W. Snow and CCA Industries Chairman Bill Goodwin. Bruce's son, Thomas E. "Teddy" Gottwald, 46, is president and CEO of NewMarket. Thomas and his wife, Ann Parker Gottwald, made news in 2006 with their purchase of the $3.7 million, 4.4-acre Windsor House property in Windsor Farms. Thomas and Bruce Gottwald control 10.7 percent of NewMarket stock and the stock solely owned by Thomas and Bruce is valued at $70.9 million.
Net worth: $675 million+
Confidence: B

P.WESLEY "WES" FOSTER JR.
McLean | Age: 73
Overshadowing the groundbreaking of the Long & Foster Cos. new 282,200-square-foot Chantilly headquarters last year was the cooling of the residential real estate market after five booming years. While the company handled $65.1 billion worth of real estate, mortgage, insurance and settlement services in 2006 - a 2 percent drop - the dollar volume of home sales at the nation's largest privately owned real estate company was off 16 percent for the year compared with 2005 records. The decline led to some belt tightening, which included axing a companywide picnic and cutting an advertising campaign by 75 percent. Continued growth came in part from expansion. The company entered the Raleigh, N.C., market by buying the region's largest residential real estate brokerage, Fonville Morisey Realty, which posted $2.6 billion in closings last year. Foster was named one of real estate's 25 most "influential thought leaders" by Realtor Magazine in December. The 1956 Virginia Military Institute graduate also was recognized for his generosity during a halftime ceremony at the renamed Foster Stadium at the school.
Net worth $500 million+
Confidence: C

THEODORE J. LEONSIS
McLean | Age: 51
Stepped down as president of AOL's audience-based businesses in January but will continue to serve as vice chairman of AOL LLC for two more years. Got into filmmaking last year with the making of "Nanking," a documentary about the 1937 slaughter of 300,000 Chinese citizens by the Japanese Army. It debuted at the Sundance Film Festival and won the grand jury prize. Any profits from "Nanking" will go toward creating a foundation to benefit the victims and their children. Coining the phrase "filmanthropy," Leonsis says he will finance more films that focus on human rights and generate discussion and charitable giving. He's also making outside investments again, most recently teaming up with former AOL executive Steve Case to start Gratiscard, a credit card aimed at giving low-income clients more access to credit. In what has been a year of firsts, Leonsis started a personal blog in 2007 called "Ted's Take." He continues as majority owner of the Washington Capitals hockey team and the Washington Mystics WNBA team, and he's a minority owner of the Washington Wizards NBA team. Ownership and investment in the teams over the past seven years has boosted his net worth "a minimum of $50 million," reports Leonsis. He's active in local charities, including Hoop Dreams, Best Buddies and Youthaids. His Leonsis Foundation focuses on children's activities.
Net worth: $475 million
Confidence: A

DWIGHT C. SCHAR
McLean | Age: 65
After stepping down in 2005 as CEO, the chairman of NVR Inc. has been branching out. He became a director of theme park operator Six Flags Inc., and he owns about 15 percent of the Washington Redskins. The team's chief owner, Daniel Snyder, is Six Flags' chairman and a business partner in another deal. Schar, Snyder and Six Flags CEO Mark Shapiro partnered in 2006 to create First and Goal LLC to back Tom Cruise's production company, although they have the right to back out of the deal in two years. Despite a downturn in the real estate market, NVR had a decent 2006 with consolidated revenues of more than $6 billion, up 17 percent over 2005 revenues. Schar exercised $59.4 million worth of stock options. He owns 542,000 shares, or about 9.4 percent of the home building and home mortgage company. A major donor to Republican campaigns, he hosted a January 2006 reception Bush attended for GOP donors at the oceanfront Palm Beach estate he purchased from billionaire Ron Perelman and actress Ellen Barkin for a reported $70 million. He also owns a home valued at more than $7 million in McLean.
Net worth: $445 million
Confidence B

C. DANIEL CLEMENTE
McLean | Age: 70
Testing his hand at a wide array of business endeavors, this lawyer-turned-consultant-turned-real estate mogul keeps cash flowing in from several channels. He is chairman of Clemente Development Co., a real estate firm that owns office space worth approximately $300 million in Northern Virginia. Clemente also is founder of Community Bank and Trust in Springfield and First Commercial Bank in Arlington. Clemente and Clemente Development have contributed significant sums to Republican candidates. Clemente is also a family trustee for Cargill Inc.
Net worth: $410 million
Confidence: C

ESTES FAMILY
Richmond
The Estes family mourned the loss of Robey W. Estes Sr. in September. The former president of Estes Express Lines was the son of W.W. Estes, who founded the company in 1931. It is the largest family-owned, less-than-truckload trucking company in the nation. Estes Sr. passed away in his Richmond home at the age of 85. Since then, Estes Express Line has been named National Champion in its class by readers of Logistics Management magazine. This year will be a year of expansion for the company, headed by CEO Robey W. Estes Jr. Currently boasting 13,500 employees and 185 terminals spanning 46 states, the company plans to spend $30 million this year on new terminals and upgraded technology.
Net worth: $400 million+
Confidence: C

ROBINS FAMILY
Richmond
In 2006 the family's Robins Foundation disbursed $6.7 million in grants, continuing the family's history of philanthropy. Recipients included the North Richmond Partnership for Families, the Healing Place, Valentine Richmond History Center and the Virginia Historical Society. The late E. Claiborne Robins Sr., who headed A.H. Robins Co., began the family's philanthropic efforts in the late 1960s with a $50 million gift to the University of Richmond, his alma mater. Matriarch Lora Robins, son E. Claiborne Robins Jr. and daughters Ann Carol Robins Marchant and Betty Robins Porter serve as directors of the family's foundation. Claiborne Jr. also runs E.C. Robins International Inc., which continues the family's interest in pharmaceuticals with its ECR Pharmaceuticals subsidiary. The company, with 21 employees, also has interests in wine imports and an air charter. For the third time since 1995, it was selected for the Rising 25, a list of the fastest-growing privately held companies in the Richmond area.
Net worth: $400 million+
Confidence: C

MCGLOTHLIN FAMILY
Grundy and Bristol
James W. McGlothlin, chairman and CEO of The United Co. of Bristol, made headlines earlier this year for revoking a $12 million pledge to the College of William & Mary's capital campaign, the largest donation in the school's history. McGlothlin, a W&M law school alum and former member of its board of visitors, was protesting a decision by the college President Gene R. Nichol to remove a brass cross from permanent display in Wren Chapel in an effort to make the chapel more inviting to non-Christians. After the fallout, Nichol formed a religious committee that decided to reinstate the cross in a prominent place in the chapel. A college spokesperson said in early April that the campaign was still short the $12 million pledge but would not confirm that McGlothlin was the donor who had withdrawn. In 2005, McGlothlin and his wife, Frances, donated $140 million worth of artwork and funds to the Virginia Museum of Fine Arts, where Frances is a member of the board. The couple has homes in Texas and Virginia. McGlothlin's family made its fortune from coal. The privately held United Coal Co. is one of the nation's largest coal suppliers, although it has other interests as well. James' brother, Thomas D. McGlothlin, continues as president of the family's foundation, which had nearly $24 million in assets as of late 2005. The foundation offers the second largest individual teaching award in the nation. Another brother, Michael D. McGlothlin, serves as the foundation's secretary and James serves as treasurer.
Net worth: $350 million+ *
Confidence: C

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