The Top 7 Richest Billionaires in Arizona

Arizona has always had an entrepreneurial spirit, so it's no surprise our state is home to some of the wealthiest men in America.

We've ranked the top seven billionaires in the Grand Canyon State. We were surprised to learn that several of them are related. In fact, two of the seven are father and son, and two of the others on the list are brothers.

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How Much Money Do the Richest People in Arizona Make?

Arizona's richest people are all men. The top seven billionaires have a combined worth of 46.3 billion dollars! Most of their fortunes were amassed by founding companies related to the internet in some way.

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Who Are the Richest Billionaires in Arizona?

The men in the number three and number one spots are father and son. Ernest Garcia II and Ernest Garcia III each have a stake in the online used car retailer Carvana.

The company was founded in 2012 and is based in Tempe. Carvana revolutionized car buying through its e-commerce platform and car vending machines. The company went public in 2017 and continues to expand.

Ernest Garcia II is the principal shareholder of Carvana and the owner of DriveTime Automotive.

The Movers and Shakers: Richest Men in Arizona

Two more of the richest men on Arizona's list are also related. Mark Shoen and E. Joe Shoen are brothers, part of the Shoen family, who founded U-Haul in 1945.

The company was founded by their father L.S. Shoen, who propelled U-Haul into a major truck and trailer rental company.

Family strife in the 1980s led Joe Shoen to take control of the company in 1986. Mark supported his brother Joe during the hostility. The two have remained close despite the rest of the family's conflict.

Today, Joe is the president and chairman of U-Haul’s parent company, Amerco, and his brother Mark controls a large stake in the company. Mark also built the self-storage empire, which is an integral part of U-Haul’s business.

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These are the Wealthiest People in Arizona

Keep scrolling to see the rest of the top seven wealthiest people in Arizona.

Sources: Wikipedia | CEO World