Arizona adds 2 members to its billionaire club, according to 2025 Forbes list

PHOENIX — Two successful business leaders joined the Arizona billionaires club in the past year, according to Forbes.

The business magazine’s annual list details the wealthiest people in the U.S., from their net worths to their accomplishments. Last year, the Forbes list had 13 Arizona billionaires.

This year, Arizona had 15 individuals make the list of 3,028 people billionaires.

Who are the newest Arizona billionaires added to the list?

One of the two newcomers was Axon Enterprise founder and CEO Rick Smith, who recently spoke to KTAR News 92.3 FM about a potential departure from the state due to clashes with Scottsdale leaders. He has a net worth of $1.8 billion.

The other Arizonan who just joined the state’s billionaire club is George Christ, a technology investor with a net worth of $1.7 billion.

Just like last year, Drive Time Automotive founder Ernest Garcia II topped the list of the wealthiest Arizonans. His net work is $14.9 billion, and he sits at No. 146 on Forbes’ list of the wealthiest people.

List of Arizona billionaires, according to new Forbes report

Here is the full list of Arizona billionaires:

• Ernest Garcia II, DriveTime Automotive founder, who is worth $14.9 billion.
• George Kurtz, CrowdStrike co-founder and CEO, who is worth $6.3 billion.
• Ernest Garcia III, Carvana founder and CEO, who is worth $5.7 billion.
• Mark Shoen, son of U-Haul International founders, who is worth $5.1 billion.
• Arturo Moreno, billboard advertiser and Los Angeles Angels owner, who is worth $5 billion.
• E. Joe Shoen, U-Haul International president, who is worth $4.5 billion.
• Bob Parsons, GoDaddy founder, who is worth $3.9 billion.
• Stewart Horejsi and family, Berkshire Hathaway investor, who is worth $3.9 billion.
• Bennett Dorrance, founding partner of real estate developer of DMB Associates, who is worth $3.4 billion.
• Rick Smith, founder and CEO of Axon Enterprise, who is worth $1.8 billion.
• Jerry Moyes and family, Swift Transportation founder, who is worth $1.7 billion.
• Peter Sperling, former chairman of University of Phoenix parent company Apollo Education Group, who is worth $1.7 billion.
• George Christ and family, technology investor, who is worth $1.7 billion.
• Jahm Najafi, private equity investor, who is worth $1.3 billion.
• Ken Kendrick, Arizona Diamondbacks shareholder, who is worth $1.2 billion.

Another notable difference in Forbes’ billionaires list this year is the fact that it’s the first time there have been over 3,000 billionaires. They’re worth around $16.1 trillion, which is $2 trillion more than 2024.

Furthermore, the average fortune of each person on the list is $5.3 billion, which is $200 million higher than last year.

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