The Richest Person in Minnesota Revealed for 2025

How much money do you need to make to be considered rich? Growing up, I thought $100,000 was the number to aim for, but these days, $100,000 is considered middle-class.

"Rich" is a subjective term that depends on several factors, including where you live and the lifestyle you choose to lead. According to a 2024 study from SmartAsset, you need to make $787,712 a year to be truly considered rich in America.

Of course, making almost $800K a year is one thing, but some people are on a different level. In Minnesota, one guy has built so much wealth, it makes 800k look like pocket change.

Photo by Alexander Mils on Unsplash

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Virtual Capitalist has released a map showing the richest person in each state. Check out the man with the most money in Minnesota below.

Richest People in America:

#1 Elon Musk (Texas) – With a staggering net worth of $388 billion, Musk tops the list, thanks to projects like Tesla and SpaceX.
#2 Jeff Bezos (Florida) – The Amazon founder moved to Miami and holds a net worth of $206 billion.
#3 Mark Zuckerberg (California) – The Facebook CEO ranks third with $189 billion, based in Palo Alto.
#4 Warren Buffett (Nebraska) – At 94 years old, Buffett is still going strong in Omaha with $165 billion from Berkshire Hathaway.
#5 Steve Ballmer (Washington) – The former Microsoft CEO holds $118 billion, residing in Hunts Point.
#6 Rob Walton & Family (Arkansas) – Heir to the Walmart fortune, Walton and family are worth $113 billion in Bentonville.
#7 Michael Bloomberg (New York) – The media mogul rounds out the list with $105 billion, based in New York City.

The Richest Man in Minnesota in 2025

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According to Forbes, Glen Taylor bought a wedding service business for $2 million in 1975 and turned it into Taylor Corp, a printing company that now brings in over $2 billion in sales annually.

Taylor, who worked at the business while in college, stepped down as CEO in 2015 but still serves as chairman and now has a net worth of $2.9 billion.

He holds stakes in several local sports teams, including the Timberwolves, the Lynx, and United FC. In 2014, he purchased the Minneapolis Star Tribune for nearly $100 million.

Taylor also owns farmland in both Minnesota and Iowa.