ARIZONA NEWS

Mark Shoen named the new richest person in Arizona

May 21, 2018, 12:16 PM | Updated: 3:20 pm
(Public Domain Photo)...
(Public Domain Photo)
(Public Domain Photo)

PHOENIX — Forbes has released a list of the richest person in every state and has declared Arizona’s Mark Shoen the richest in the Copper State.

Shoen earned his $3.1 billion fortune through a limited partnership as the largest shareholder of Amerco, the parent company of U-Haul.

He earns an additional income as the owner of a private self-storage operation which does business with U-Haul.

Shoen overtook the top spot in Arizona after the death of Bruce Halle.

Halle was the 144th-richest person in the world with a net worth of $4.6 billion when he died in January.

The Paradise Valley resident acquired his wealth as the founder of Discount Tire.

The state of Washington underwent a change in its richest person.

According to Forbes, Amazon CEO Jeff Bezos leapfrogged Bill Gates to claim the title not only of richest in the state, but richest in the world with a net worth of $132 billion.

The transition from Gates to Bezos was due to the surging price of Amazon stock.

There were six states in the study whose richest person held a net worth of less than $1 billion. Those states were New Mexico, Alaska, North Dakota, Alabama, Delaware and Vermont.

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Mark Shoen named the new richest person in Arizona