The youngest billionaire in Oklahoma

Ash Jurberg

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I write a lot about business, entrepreneurs, and wealth. And when I research these articles, they usually focus on people well into their sixties, seventies, and beyond. People that worked for many decades to build their fortune.

So today, I thought I would look for talented people who have earned an amazing financial fortune at a young age.

There are seven billionaires in Oklahoma, but we will look at the youngest billionaire in Oklahoma in this article.

The youngest billionaire in Oklahoma

Fifty-year-old Chad Richison is the youngest billionaire in Oklahoma. He has a current net worth of $2.8 billion.

Born in Tuttle, Oklahoma, Richison has made his fortune as the founder of and CEO of Paycom, one of the first companies to process payroll completely online.

Paycom was founded in 1998 and was listed on the New York Stock Exchange in 2014. This provided a large windfall for Richison, who owns 14% of its shares. The business has continued to grow and has been recognized as one of the fastest-growing companies in the United States. Last year the company, headquartered in Oklahoma City, had revenue of $1.06 billion.

Paycom has won many awards over the years and consistently ranks as one of the best places in the United States to work. In 2021 it was named one of the Best Companies for Women to work in the United States.

Richison has also been ranked one of the top 100 CEOs nationally by Glassdoor and was the only executive from Oklahoma who made the list.

Philanthropy

Ok, we have established that Richison is very wealthy.

But how is he helping the people of Oklahoma and the United States? Let's look at his charitable efforts.

In November 2015, Richison made the single largest donation to his alma mater's athletic program. He donated $10 million to the University of Central Oklahoma and an additional $4 million gift in 2017. He made another $10 million donation to UCO in 2021.

In 2015, Richison founded the Green Shoe Foundation, a mental health non-profit organization offering confidential, professional, ​five-day retreats to improve and impact individual lives and communities.

He has also created the Richison Family Foundation, which "supports many sustainable organizations that have a lasting impact on the missions they serve, including children’s education, foster care, food supplies, and mental health." This includes the Oklahoma City National Memorial and Museum and Oklahoma public school programs.

In December 2020, Richison joined the Giving Pledge, a promise by the world's wealthiest individuals and families to dedicate the majority of their wealth to charitable causes.

Readers, what do you think of Chad Richison? Have any of you met him or worked for Paycom? Are you glad to see him give back to the people of Oklahoma?

Please leave your comments in the section below.

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