The 2007 Virginia 100
Virginia Business
June 2007

Intro | Rankings | Alphabetical List

Articles:
Giving Back | Investing in Charity | Steve Johnson | Bill and Alice Goodwin

Virginia 100 Profiles: Parts 1 2 3 4

Note: * Includes assets held in trust or by other family members

G. KEVIN BRUCE
Goochland County | Age: 51
After nearly thirty years of trading in the futures commodities market, the former president of the Richmond-based private commodities trading firm Strategic Capital Corp. says he's on the fast track to retirement. After closing the firm in 2006, Bruce spent the majority of the year trading for himself as he makes the transition to retirement. "Most people don't trade futures when they're in their 50's. It's very stressful, and I've done it a lot longer than most people would," he says. "It's time to put myself out to pasture." For Bruce, that means diving into charity work and potentially returning to work for the Tuckahoe YMCA where he served on the board of directors for the past three years. "I want to get more involved, see the people I impact face to face," he says. "I'm currently looking for charity work where I can be personally involved."
Net worth: $100 million
Confidence: A

JIMMY DEAN
Richmond | Age: 78
The Grammy-winning member of the Country Music Hall of Fame has lived in semi-retirement in Henrico County's Varina area since the early 1990s. Dean and his wife, Donna, own an estate of more than 250 acres on the James River. He's known for songs like the 1961 hit "Big Bad John," for which his yacht is named. The fortune of the former sausage king is invested in banking and real estate. A DVD is in the works of his ABC primetime variety show from the 1960s, which featured Jim Henson's Muppet dog Rowlf playing the piano. The Deans also plan to open a French/Southern cuisine restaurant. Dean, who dropped out of high school to assist his family, supports literacy organizations. He says he and his wife have "given away a lot of money and a lot of love and a lot of effort" to students at Varina Elementary School and Varina High School.
Net worth: $100 million
Confidence: A

MASSEY FAMILY
Richmond | Age: 59
Through Triad LC/Massey Family Management in Shockoe Bottom, Ivor Massey Jr. oversees a family fortune that his investment-savvy grandparents and parents bequeathed to him and his siblings. Triad recently acquired half of Rapidan Capital, a loan management firm that maintains the family's diversified investment portfolio, which includes shares of Richmond-based Markel Corp. A former president of APVA Preservation Virginia, Massey serves on the boards of J. Sargeant Reynolds Community College, the Museum of the Confederacy, Planned Parenthood and the Virginia Capitol Foundation. His personal charity fund, the Eugene Holt Foundation (named after his maternal grandfather) made a seven-figure donation to APVA Preservation Virginia for improvements at Historic Jamestowne, including an archaeological museum. "If you've got wealth, if you've inherited wealth, you've got some obligations," says Massey. His charitable works are focused on "making Richmond a better place" by supporting institutions like J. Sargeant Reynolds Community College, which he says bridges local education shortcomings and provides work-force training "that helps keep and attract employers to the area." Massey recently married Maureen Denlea, community relations director for Markel and president of the nonprofit Partnership for the Future.
Net worth: $100 million*
Confidence: B

ALEXANDER AND MARGARET McMURTRIE
Richmond
Former state Del. Alexander B. McMurtrie Jr., 70, and his wife, Margaret Hillenbrand McMurtrie, 69, provide scholarships to needy students. "It's important to help the young people that have the ability, but not the financial wherewithal, to pursue their education," says McMurtrie. The McMurtries also contribute to his alma maters - the University of Notre Dame and Georgetown University Law School. They have substantial investments in Indiana-based Hillenbrand Industries, founded by Mrs. McMurtrie's grandfather. Hillenbrand Industries is the holding company of Batesville Casket Co. and Hill-Rom, which makes health-care products.
Net worth: $100 million
Confidence: B

MILTON V. PETERSON
Fairfax | Age: 70
It might have come later in life but it must be satisfying for the founder and chairman of the Peterson Cos. to see one of his company's biggest projects go up. National Harbor, located on 300 acres on the Prince George's County, Md., side of the Potomac River, is a $2 billion waterfront project that will include 7.3 million square feet of mixed-use space, 4,000 rooms at five hotels, a convention center and 2,500 homes. Construction recently began on 253 upscale condominiums expected to sell for $300,000 to $600,000. Founded in 1970, The Peterson Cos. supports local charities, with $3.5 million over 10 years earmarked for local nonprofits. Peterson has been a donor for three decades to George Mason University, where wife Carolyn serves on the George Mason University Foundation Board of Trustees. The Petersons donated $1 million for music scholarships at the school. The couple was also recognized by Inova Health System as "Distinguished Ambassadors," Inova's top category, for donating $50,000 or more last year. In 2005, Peterson contributed $3.5 million to The Peterson Family Foundation, which distributed $2.3 million in gifts that year.
Net worth: $100 million
Confidence: C

TAUBMAN FAMILY
Roanoke
Since December 2005, 71-year-old Nicholas F. Taubman has served as U.S. ambassador to Romania. He recently commemorated the 50th anniversary of NATO with Romanian President Traian Basescu and Prime Minister Cãlin Popescu-Tãriceanu. Taubman is the retired chairman of Advance Auto Parts, the nation's second-largest automotive parts retailer. Started by his late father, Arthur Taubman, in 1932, the Roanoke-based company is celebrating its 75th anniversary. With more than 3,000 stores it rang up sales of $4.6 billion in 2006. Taubman owns almost $4.9 million or almost 10 percent of Valley Financial Corp., parent of Valley Bank in Roanoke. His wife, Jenny Taubman, is on the board of the Virginia Museum of Fine Arts.
Net worth: $100 million
Confidence: C

UKROP FAMILY
Richmond
Brothers James E. "Jim" Ukrop, 70, and Robert S. "Bobby" Ukrop, 61, head Ukrop's Super Markets Inc. The family-owned chain, founded in 1937, is known for its philanthropy and Christian values (it sells no beer or wine, and stores are not open on Sunday). The company expanded to 29 locations in Central Virginia last year, with the opening of a second store in Williamsburg. Ukrop's Super Markets co-owns First Market Bank, which has 34 branches, most located in Ukrop's stores. Both brothers are influential in area politics and business. Jim Ukrop, who serves as chairman of Ukrop's and First Market Bank, contributed almost $140,000 to Gov. Timothy M. Kaine. Bobby Ukrop became chairman of the Greater Richmond Chamber of Commerce last year and serves on the board of the Greater Richmond Partnership.
Net worth: $100 million
Confidence: B

MICHAEL D. FRAIZER
Richmond | Age: 48
The Chairman and CEO of Genworth Financial Inc. isn't shy about publicity opportunities. Last year, he went on NBC's summer reality game show, "Treasure Hunters" (a Genworth-sponsored show) and brought the stars to the company's Henrico County headquarters for an employee fun day. He and his wife, Elizabeth, donated $1.5 million in December to build a community youth center at Virginia Commonwealth University, and tennis stars Andre Agassi and Steffi Graf attended the groundbreaking ceremony. (The center will benefit Richmond's at-risk youths, as does the Genworth Children's Advantage Classic, in which Agassi and Graf played last year.) Genworth, a Fortune 500 insurance company was spun off from General Electric Co. in 2004. Its stock price has risen since then, helping to boost Fraizer's net worth. He sold $19 million worth of the company's shares in February and another $24 million worth of shares in November. Fraizer serves as a trustee of the Virginia Foundation for Independent Colleges and is on the boards of the Andre Agassi Charitable Foundation and VCU's School of Business Foundation.
Net worth: $94 million
Confidence: B

WILLIAM J. INMAN
McLean | Age: 59
The president of NVRM, the mortgage and finance subsidiary of NVR Inc., Inman is feeling the burn of the housing market decline a bit less than other NVR executives. He received an annual bonus of more than $161,000 (nearly 40 percent of his $410,000 base salary) when other execs, including NVR CEO Paul Seville, did not receive bonuses. The value of his holdings should continue to rise as NVR's stock recovers from a slump in last year's fourth quarter. Inman exercised nearly $12 million worth of stock options last year. He owns more than 120,000 shares of the company's stock, or about 2.1 percent of the company.
Net worth: $86 million
Confidence: B

STEVE AND KIM JOHNSON
Bristol and Wellington, Fla. A former football player for Virginia Tech who went pro, Johnson now heads a commercial real estate firm, Johnson & Associates. He and his wife, a former Miss Virginia USA, are active with the United Way in Bristol. (See profile on page 19).
Net worth: $81 million
Confidence: A

JOHN M. JACQUEMIN
Vienna | Age: 60
The founder and CEO of Mooring Financial Corp. is celebrating the company's 25th anniversary this year. His private investment firm manages more than $350 million in assets and has grown to become one of the top three tax lien purchasers in the U.S. Last June, Jacquemin received Ernst and Young's Entrepreneur of the Year Award in financial services for the Washington, D.C., area. Jacquemin provided $600,000 in grants last year for scholarships at Dartmouth, Duke and Penn State. For the second year, Mooring Financial is contributing to the funding of two homes in Washington, D.C., for Habitat for Humanity. He serves on the boards of the Wolf Trap Center for the Performing Arts and Penn National Gaming Inc., a Pennsylvania-based company that owns gaming properties and racetracks.
Net worth: $80 million
Confidence: A

MACON F. BROCK JR.
Virginia Beach | Age: 65
The chairman of Dollar Tree Stores Inc. continues to preside over a chain that grows by acquiring similar dollar-store chains. Today's Dollar Tree's nationwide network includes 3,200 stores. The company recently announced plans to spend $12 million to build a 75,000-square-foot expansion of its corporate headquarters in Chesapeake. Last year, company sales rose nearly 17 percent to $3.9 billion. The Chesapeake-based retailer's roots go back to 1953 when Brock's father-in-law- Kenneth Perry, opened a Ben Franklin variety store in Norfolk. Brock and his wife Joan focus their philanthropy on educational and social concerns, including donations to Longwood University and Randolph-Macon College. Brock is chairman of the board of trustees at Randolph-Macon.
Net worth: $74 million
Confidence: B

JOHN G. BALLENGER
Middleburg | Age: 75
Ballenger, an entrepreneur with interests in real estate, cattle and horse racing, turned his attention to philanthropy this year. He set up two charitable trusts to invest in potential treatments and research breakthroughs for lupus and multiple sclerosis. As the head of the development firm Ballenger Enterprises Inc., he reports uncertainty over efforts to build condominiums in Crisfield, Md., and an assisted-living facility in Delaware. He continues to run Brigadoon Farms where he raises commercial cattle, and he races thoroughbreds in Maryland and Virginia.
Net worth: $73 million
Confidence: B

THOMAS E. CAPPS
Richmond | Age: 71
The former CEO of Dominion Resources formally stepped down as chairman in April. Capps' departure comes as the state's largest electricity provider faces change. Following a 10-year experiment with electric deregulation, Virginia returns to cost-of-service regulation by the State Corporation Commission on July 1. The company also is seeking an adjustment in its fuel rate and permits for new sources of generation, including a controversial, 65-mile transmission line in Northern Virginia. Perhaps, Capps is glad to put all this behind him, although he continues to keep his hand in business by serving on several boards. He's a director for Virginia Beach-based Amerigroup Corp. and Associated Electric and Gas Insurance Services (AEGIS). He also serves on the board of visitors for the College of William & Mary and the Virginia Foundation of Independent Colleges. Dominion's attractive stock prices (as high at $93 this year have given a nice lift to Capps' estimated net worth. In February, he sold 200,000 shares of Dominion stock, which netted him $5 million. He owns more than 486,000 shares and has another 800,000 shares in exercisable stock options.
Net worth: $73 million
Confidence: B

RONALD M. BRADLEY
Alexandria | Age: 54
Alexandria. Bradley makes the list for the first time after selling his private company, Bradson Corp., for $73 million in a stock deal last October to Kforce Inc. a publicly traded professional staffing firm out of Tampa, Fla. As Bradson's founder, CEO and president, Bradley directed the growth of the professional services company from 1983 through September 2006. It provided finance and accounting services to federal government agencies, primarily the Department of Defense and Department of Homeland Security. In 2006, Bradson had revenues of about $30 million. Bradley was the majority shareholder, so his gain on the sale, plus previous investments, boosted his net worth into the multimillions. In past years, Bradley says, he has donated to the John F. Kennedy Center for the Performing Arts. With his newfound riches, he has established a family foundation so he can support various charitable and educational activities. "I also want to buy and sell companies as an individual investor," he says.
Net worth: $70 million
Confidence: A

TIMOTHY M. DONAHUE
Great Falls | Age: 58
Sprint Nextel's executive chairman stepped down last fall as the company struggled to bounce back from a stock slide and to compete in an increasingly converged telecommunications industry. Donahue helped preside over the merger of Sprint and Nextel. These days, Donahue stays busy serving on several boards. At Eastman Kodak Co., he chairs the executive compensation and development committee and owns more than $400,000 of the company's stock. Last year, he also joined the board of McLean-based NVR Inc., one of the country's largest home building and home mortgage companies. He's also a board member for Tyco Healthcare, a recent spinoff from Tyco International Ltd. and John Carroll University.
Net worth: $69 million
Confidence: B

PATRICIA KLUGE
Albemarle County | Age: 57
Producing new wines and moving forward with her Vineyard Estates residential development are key projects for the owner and chairman of Kluge Estate Winery and Vineyard. Construction has begun on the first of what will be 24 estates nestled among the vineyards on 511 acres of Kluge's 1,800-acre estate near Carter's Mountain. Last year the 8-year-old winery released a new sparkling wine, Kluge SP Blanc De Blancs 2004. Husband William Moses is the winery's CEO and her partner in philanthropy. The Kluge-Moses Foundation supports many causes, including Club Yancey, which provides educational and community opportunities for underprivileged children who attend Yancey Elementary School in Esmont. Recently, the couple donated $1.2 million to create viticulture and oenology programs at nearby Piedmont Virginia Community College. Kluge serves on Gov. Timothy M. Kaine's Start Strong Council, a group trying to improve the quality and availability of pre-kindergarten programs.
Net worth: $64 million+
Confidence: C

WILLIAM K. BREHM
McLean | Age: 77
The chairman emeritus of SRA International, a Fairfax-based provider of information technology and consulting services, has many business and philanthropic interests. Brehm, a former assistant secretary of defense under Presidents Nixon and Ford, has been a company director since 1978. He serves as board chairman for the Center for Naval Analyses, a federally-funded research and development corporation. The former executive vice president and director of Computer Network Corp. serves on that company's board as well. Along with wife, Delores "Dee", the couple recently pledged $44 million to the University of Michigan Health System in Ann Arbor. The university (Brehm's alma mater) broke ground in September on the Delores S. and William K. Brehm Center for Type 1 Diabetes Research and Analysis. When Dee was diagnosed with diabetes 55 years ago, the then newly engaged couple was told she wouldn't live long. Besides the $30 million construction price tag, the pledge will provide funds for diabetes research at the medical school. The Brehms have also pledged $15 million to Fuller Theological Seminary in Pasadena, Calif., for a new worship center and $500,000 to Eastern Michigan University, Mrs. Brehm's alma mater, for student scholarships in the field of special education.
Net worth: $62 million
Confidence: B

BRYAN FAMILY
Richmond
J. Stewart Bryan III is chairman of Media General Inc., the Richmond-based media company that is the parent company of the Richmond Times-Dispatch and Virginia Business. The family has been involved in publishing since 1887. Media General owns 25 daily newspapers, 23 network-affiliated television stations, 75 online enterprises and more than 100 non-daily publications. The company last year bought four NBC-affiliated TV stations and sold four others. The move helped boost profit in the broadcast division by 53 percent. Overall company revenue last year rose 12.2 percent to $983.2 million while net income increased 14.5 percent to $141.5 million. But 2007 started slowly, with the company reporting a first-quarter loss of $6.5 million, including pretax charges of about $1 million for severance costs related to staff reductions at the company's Tampa publishing operations. Media General is combating a national slump in advertising spending on traditional media by enhancing its online operations and setting an annual goal of 5 percent revenue growth from new products. Pressure on media companies continued to affect the company's stock, which traded around $38 in early April down from $46 a year before.
Net worth: $55 million*
Confidence: A

J. DOUGLAS PERRY
Virginia Beach | Age: 58
Perry is a founder and served as the first chairman of Dollar Tree Stores, a Chesapeake-based retail chain that has grown to 3,200 stores. He retired as an employee in 1999. Dollar Tree's official history traces its roots to 1953 when Perry's father, Kenneth, opened a variety store in Norfolk. That business later became K&K Toys. Douglas Perry, brother-in-law Macon F. Brock Jr. and H. Ray Compton started Dollar Tree in 1986 and then sold K&K Toys five years later. (See separate entry on Macon F. Brock Jr.)
Net worth: $45 million
Confidence: B