Iowa’s Latest Billionaire Made Their Fortune on the Farm

If you've ever wondered who the richest person was in Iowa, we have an answer! If you assumed that Iowa's richest person had something to do with farming or agriculture, you would have assumed correctly.

Who is the Richest Person in Iowa in 2024?

The latest Iowa billionaire is Harry Stine, owner of Stine Seed according to Forbes. Stine started farming at 5-years-old and now he's playing with seed genetics and licensing them to big players like Monsanto. His current net worth is $11.2 billion. He's not the only billionaire to settle in Iowa though.

Back in 2017 Wide Open Country developed a map of the richest people in each state based on data from Market Watch. Market Watch states that it's a site that "provides the latest stock market, financial and business news." In a report from November of 2016, Market Watch provided data showing the richest people in each of the 50 states. Iowa's wealthy winner was Dennis Albaugh, founder of Albaugh LLC. with a net worth of $1.4 billion! The company was founded in 1979 by Dennis and was "recognized as the largest, American based, manufacturer and formulator of off patent agricultural crop protection products," according to Market Watch.

You may wonder what someone does with that much money. One of the things Albaugh seems to enjoy is collecting classic cars. KCCI reporter Eric Hanson got a look at the collection, as you can see in the video below.

There you have it. Now we can all be depressed about how much money we're not making. Just kidding, although it would be nice to be that wealthy. See the full map of the richest people in each of the 50 U.S. states HERE.

[Wideopencountry.com, Market Watch]