The rich are getting richer.
Earlier this year, Forbes announced its annual list Forbes 400, which ranks the richest Americans by their net worths. The 400 richest Americans saw their combined wealth increase 40% over the last year, to $4.5 trillion. Nearly all are wealthier than the previous year.
Today, I will uncover the richest person in The Plains, Virginia,
According to Forbes Magazine, five billionaires on the Forbes 400 consider Virginia home. None of them is wealthier than Jacqueline Mars. Her net worth exceeds $31.8 billion, making her the 21st richest individual in the country.
Who is Jacqueline Mars?
Jacqueline Mars is the co-owner of Mars Inc., the world's largest confectioner. Its headquarters are in Virginia, and it's renowned for making M&Ms, Snickers, and Milky Way.
Today, Mars is one of the world's largest candy and pet food companies, with more than $40 billion in sales.
A long time ago, Frank C. Mars began selling candy.
In a small town in Minnesota, a young boy named Frank Mars contracted polio that prevented him from walking. However, his mother wanted to keep him occupied, so she taught him to hand-dip chocolate.
In 1910, Frank Mars was 27 years old, and he had a brilliant idea, selling buttercream candy bars from his kitchen in Tacoma, Washington. Ten years later, Frank moved to Minnesota and expanded his candy bar business.
Milky Way was a big hit.
In 1923, Frank Mars and his son Forrest Sr. created a new candy bar named Milky Way that was a great success. This success inspired them to move the company to Chicago. They wanted a centralized location with railroads, and Chicago was perfect.
A Mars a day helps you work, rest and play.
In Chicago, the Mars family focused on producing great products, so by 1940, Snickers' brand, 3 Musketeers, and M&M'S were born. The company also kept expanding with new products like Whiskas.
So in 1961, when Jacqueline graduated from Bryn Mawr College with a degree in anthropology, her family business was well established.
Jacqueline Mars is the daughter of Forrest E. Mars Sr, the son who helped his dad, Frank Mars, create one of the best companies in the world. Her dad Forrest had two other kids, so each kid owns about one-third of Mars.
In 2012, the National Archives honored Jacqueline Badger Mars with the National Archives' Heritage Award for her passion and commitment to preserving documents that celebrate our nation's heritage.
Jacqueline has a lot of money, but I couldn't find much information about her donations.
Bloomberg reported that Jacqueline Mars could buy 28.2 million troy ounces of gold and 644 million barrels of crude oil. So, she has a lot of money, but I couldn't find any information about organizations that she donates to.
If you had her money, what causes would you support?