Livingston, MT

The second richest person in Montana

Luay Rahil
Photo Credit: Canva

Cargill is the largest privately-owned business in the country.

This Minnesota-based business made 12 Cargill family members very wealthy.

Today, I will talk about the story behind the richest member who lives in Livingston, Montana. His name is Austin Stowell Cargill II. His net worth exceeds $4.7 billion, making him the 229th richest person in the country.

Who is Austen Stowell Cargill II?

Austin Stowell Cargill II is an American billionaire heir, entrepreneur, and rancher.

Austen Stowell Cargill II is the great-grandson of William Wallace Cargill, the founder of Cargill. He graduated from the University of Minnesota with a bachelor's and master's degree. After earning his master's degree, he attended Oregon State University and earned his doctorate.

William Wallace Cargill had a lot of grandchildren, but only 12 of them inherited the company. However, each of the 12 grandchildren inherited about 11% of the company, and they are on the Forbes 400 list.

Austin Stowell Cargill II is divorced, has two children, and lives in Livingston, Montana.

William Cargill built his first flat grain house in 1865.

In 1865, William Wallace Cargill created Cargill in Conver, Iowa, at the end of the McGregor & Western Railroad line. William Cargill was a genius man with a creative man.

In this small town, he bought his first flat grain house. However, he wasn't content. He wanted to follow the expansion of the railroad, building multi-level storage facilities with conveyor belts that made farmers' lives easier.

In 1870, William Wallace Cargill moved the business across the state line to La Crosse, Wisconsin. He lived next to a farmer named Don MacMillan. A few years later, Cargill's oldest daughter married Don MacMillan's son, John MacMillan.

John MacMillan took over the company in 1909.

When William Wallace Cargill died in 1909, John MacMillan Sr., his son-in-law, assumed leadership of the Cargill Elevator Company.

Under John MacMillan Sr. and his son John MacMillan Jr., the company expanded to Europe.

John MacMillan Sr., with his son, expanded the company operations to include feed, lumber, coal, flour, and seeds. They also invested in water irrigation, land, railroads, and farms.

When John MacMillan Jr. died, the family hired its first non-family CEOs.

When John MacMillan Jr. passed away in 1960, the family hired Erwin Kelm as the company's new CEO. He was the first CEO appointed outside the Cargill and MacMillan families.

In 1977, Whitney MacMillan became CEO of Cargill, and under his leadership, the company continued its global growth and dominance. He retired in 1995.

In 2021, The company's revenue exceeded $134.4 billion and had 155,000 employees, and according to Forbes, the family still owns roughly.

If you inherited billions of dollars, what organizations would you support?

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