The richest person in Minnesota

Ash Jurberg

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Each year, Forbes releases its annual list of billionaires. This year the list had 2,668 billionaires around the world.

Of these, five of them live in Minnesota. But today, I wanted to look at the richest person in Minnesota.

The richest person in Minnesota

With a net worth of $2.6 billion, the richest person in Minnesota is Glen Taylor.

Taylor was born in Springfield, Minnesota, in 1941 and grew up on a small farm in a poor family. He would work on neighbors' farms for $1 an hour to earn money. Taylor earned a Bachelor of Science from Minnesota State University in Mankato.

While at college, Taylor commenced work at Carlson Wedding Service, a print shop in Mankato specializing in printing invitations for formal events. He stayed at Carlson until 1975, when the owner Bill Carlson offered to sell the business to Taylor for $2 million to be paid back over the following ten years. Taylor built a multinational printing company, Taylor Corp, with over 15,000 employees and $2 billion in revenue from this one small shop.

From 1981 to 1990, he serves as a Minnesota State Senator.

In 2014 Taylor purchased the Minneapolis Tribune for $100 million. He stayed at the helm of Taylor Corp until 2015 when he stepped down as CEO, but even though Taylor is 81, he remains chairman.

Sports owner

Taylor is well known to Minnesota sports fans.

He purchased the Minnesota Timberwolves for $94 million, followed by his purchase of the Minnesota Lynx WNBA team in 1999. Last year, Taylor announced he was selling the Timberwolves for $1.5 billion to former Major League Baseball player Alex Rodriguez and billionaire Marc Lore. The change in ownership will take place next year.

Taylor also has a share in the Major League Soccer side Minnesota United FC.

Philanthropy

Taylor is also known for his philanthropy.

He has established the Glen A. Taylor Foundation, which supports many community-minded programs throughout the greater Mankato area.

Readers, what do you think of Taylor's story? Rising from a poor family and working for $1 an hour to billionaire, sports team owner, and politician?

Please leave your comments below.

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