The nation’s wealthy just keep getting wealthier.
After losing a collective $500 billion last year, the nation’s 400 richest people have gained it all back, according to Forbes Magazine, which recently released their 400 Richest People in America list.
Nashville native Thomas Frist Jr. and family made the top 50 on the list, coming in at number 32 with a net worth of $22.6 billion.
Knoxville-born Jimmy Haslam came in at number 99 with a net worth of $8.7 billion. His brother and former Tennessee Governor Bill Haslam tied with FedEx founder Fred Smith at number 184 — both with a net worth of $5.7 billion. Martha Ingram and family came in at number 273 with a net worth of 4.2 billion, and Jon Yarbrough came in at number 314 with a net worth of $3.6 billion.
Their net worth was calculated using stock prices from September 8, 2023. Here’s what to know about the richest Tennesseans in America.
Thomas Frist Jr. and family
A former Air Force flight surgeon from Nashville, Thomas Frist Jr. founded Hospital Corp. of America with his father in 1968. “At that time, HCA Healthcare was one of the first hospital companies in the United States,” said HCA. “Many communities were quickly growing and needed more access to healthcare.”
In 1982, the Frist family founded the Frist foundation, an organization which focuses on creating a ‘better Nashville,” by investing in non-profit groups that serve communities facing adversity.
HCA:50 years ago, a chicken-fried idea launched Nashville’s most important company
In 2011, Frist Jr. took HCA public for the third time after two management buyouts. He owns over 20% of the company with his family.
Through the Frist Foundation, Frist Jr. and his family played an integral role in creating the Frist Art Museum, where he serves as Director Emeritus, said Forbes.
The Haslams
Son of businessman and philanthropist Jim Haslam and eldest brother to former Tennessee Governor Bill Haslam, Jimmy is the chairman of Pilot Flying J. He joined the board in 1975, during his senior year at the University of Tennessee Knoxville.
The company has over 800 locations across North America and generates about $26 billion in annual revenue, said Forbes. In 2012, Jimmy became the majority owner of the Cleveland Browns. Earlier this year, Jimmy and wife Dee became co-owners of the Milwaukee Bucks.
Bill served as president of Pilot Flying J for four years until 1999. In 2003, he was elected as the mayor of Knoxville and later served as the governor of Tennessee from 2011 until 2019.
In 2022, Bill purchased a piece of the Nashville Predators with plans to gradually acquire a majority stake, said Forbes.
Fred Smith
Smith is the founder and executive chairman of FedEX. Since launching the company in 1971, it now generates $94 billion in annual revenue.
In March 2022, Smith announced that he would be stepping down from his role as CEO after taking the company from a rough idea on a college paper to a transportation giant. Then-president and COO, Raj Subramaniam, was promoted to CEO and president.
Go deeper:How FedEx founder Fred Smith absolutely, positively transformed Memphis
Martha Ingram and family
Martha Ingram and her family own manufacturing company Ingram Industries. Headquartered in Nashville, the company focuses on book distribution, marine transportation as well as other management and distribution services. Ingram took over the business after her husband Bronson Ingram died in 1995, said Forbes.
Ingram stepped down as chairman in 2008.
In 2006, Ingram was awarded with the Joe Kraft Humanitarian Award, which recognizes community leaders who embody the strength of character and integrity of the late Joe Kraft.
Jon Yarbrough
Yarbrough is the founder of Video Gaming Technologies, a developer, manufacturer and distributor of casino games. Founded in 1991, the Franklin-based company grew due to the popularity of Native American casinos.
According to Forbes, Yarbrough has worked with nearly 35 tribes in over 100 locations over the years. In 2014, Yarbrough sold his company to Australian firm Aristocrat Leisure for about $1.3 billion.
Methodology
Forbes organized their list after holding interviews with Forbes 400 members, employees, asset managers, financial advisors, rivals, peers and attorneys. Dozens of documents like court filings, probate records and other news articles were also examined.
Forbes took into consideration various types of assets like stakes in public and private companies, real estate, art, yachts, planes, ranches, vineyards, jewelry, car collections and others. They also factored in debt and charitable giving.
To read more about Forbes’ methods or to view the entire list, visit forbes.com.
Diana Leyva covers trending news and service for The Tennessean. Contact her at Dleyva@gannett.com or follow her on X, the platform formerly known as Twitter, at @_leyvadiana
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