The 5 billionaires who live in St Louis, MO

Ash Jurberg

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Forbes recently released a list of billionaires, of which there are currently 2,755 billionaires. St Louis, Missouri, is home to five of these billionaires, and I thought it would be great to take a quick look at these lucky people.

The list is based on where they currently reside; therefore, someone such as St Louis native, Jack Dorsey who founded Twitter is not on this list as he now lives in California.

The wealthiest person in St Louis

With a net fortune of $6.4 billion, up from $4.8 billion in 2020, is Pauline MacMillan Keinath. This vast fortune is enough to rank her 418th in the world. Keinath inherited her fortune as her great grandfather W.W Cargill founded Cargill, which is now the world's largest food company. Keinath owns a 13% stake in the company, which in 2020 had over $114 billion in sales across its food, agriculture, financial and industrial divisions.

She has been the wealthiest person in St Louis for some time and keeps her spot at number one on the St. Louis rich list.

From humble beginnings

You may be thinking," well, I can never be that rich." Well, let the story of David Steward inspire you.

Steward had seven siblings, and his father was a janitor and trash collector. When he was younger, Steward regularly lived paycheck to paycheck and once saw his car repossessed from the office parking lot where he worked. Now his net worth is $3.7 billion- and I'm guessing he no longer has to worry about having his car repossessed!

His wealth is derived from the company he founded- IT provider World Wide Technology, which earns approximately $12 billion in sales each year. It includes the Federal Government amongst its list of clients. Steward has engaged in philanthropy- in 2018, he donated $1.3 million to the University of Missouri-St. Louis.

The discount broker

Rodger Riney has a net worth of $3.6 billion, which places him at number 831 globally. Riney co-founded the discount brokerage firm Scottrade in 1980. At the time, he quit his job at a St Louis investment company and drove to Scottsdale, Arizona, to start his own business.

He then spent the next 37 years building the business before selling his company for $4 billion in 2017. Unfortunately, in 2015, Riney was diagnosed with myeloma cancer. Research into this disease has become his passion, and he has donated $40 million to Washington University to research the condition and develop treatments for neurodegenerative illnesses.

The St. Louis boy who stayed

Jim McKelvey cofounded the payments company Square with Jack Dorsey. While Dosey moved to California and founded Twitter, McKelvey has stayed in his hometown. He is worth $3.5 billion now, having made over $270 million by selling some of his shares in Square.

While he still owns 5% of Square, he has started a new company, Invisibly, which powers micropayments for journalism and publishing. He sits on the Federal Reserve Bank of St. Louis board and has created a nonprofit, LaunchCode, to teach people how to program.

McKelvey has also taken on the richest man in the world - Jeff Bezos. He battled with Amazon to create a better payments system and wrote about the experience last year in his book "The Innovation Stack."

"I have this habit of starting companies, but I can't run them. If I stay around too long, I become disruptive." Jim McKelvey

The former pro athlete

In fifth place on this list with a net worth of $2.3 billion is former professional soccer player Jim Kavanaugh.

He co-founded World Wide Technology with David Steward back in 1990. He showed his willingness to fight for any sales when he received one of the companies first orders. He rented a truck and drove to Omaha to personally deliver 500 personal computers to a new client. That determination has paid off in the billions!

The other billionaire in Missouri

Missouri is also home to another billionaire. John Morris is the founder and CEO of the outdoor gear retailer Bass Pro Shops and resides in Springfield.

While St Louis has five billionaires, there is a city outside the US that boasts the title of most billionaires. Beijing has more billionaires than any other city in the world, having overtaken New York City.

Let's hope more people from St Louis make the 2022 list!

Have you met or worked for any of the St Louis billionaires? If so, share your experience with our readers in the comments below.


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