The rich are getting richer.
Earlier this year, Forbes published its annual list of 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. Almost all are richer than last year.
Today, I will uncover the richest person in St. Louis, Missouri.
According to Forbes Magazine, five billionaires on the Forbes 400 consider Missouri home, and only one of them is wealthier than Pauline MacMillan Keinath. Her net worth exceeds $7.3 billion, making her the 110th richest person in the country.
Who is Pauline MacMillan Keinath?
Pauline MacMillan Keinath was born on July 31, 1934, in Hennepin County, Minnesota. She is the great-granddaughter of William Wallace Cargill, the founder of Cargill, the largest private company in the United States. William Wallace Cargill had four children. His second-born, Edna, married John MacMillan. They had two sons, John H. MacMillan Jr. and Cargill MacMillan Sr.
Edna's son Cargill MacMillan Sr. had three children, Whitney MacMillan, Cargill MacMillan, and Pauline MacMillan Keinath, all on the Forbes 400 list. Pauline MacMillan Keinath is married with four children and lives in St. Louis, Missouri.
The history behind the brand.
In 1865, at the end of the McGregor & Western Railroad line, William Wallace Cargill bought a flat grain house in Conver, Iowa. One year later, his brother, Sam Cargill, joined him, creating W.W. Cargill and Brother.
Ten years later, they moved the company across the state line to La Crosse, Wisconsin, and recruited their third brother James to join the company.
Expanding beyond grain and outside the country.
By the 1880s, the company expanded its operations to include coal, flour, feed, lumber, and seeds. They also invested in water irrigation, railroads, land, and farms.
William Wallace Cargill died in 1909, and his son-in-law John MacMillan Sr. assumed leadership of the Cargill Elevator Company. Under John MacMillan Sr. and his son John MacMillan Jr., the company expanded to different sectors overseas.
Recruit the best possible talent to lead the company.
When John MacMillan passed away in 1960, the family was committed to appointing the best possible talent to help them expand, so they chose Erwin Kelm to become the first president appointed outside the Cargill and MacMillan families.
In 1977, Whitney MacMillan became CEO of Cargill and continued the company's global growth and dominance. He retired in 1995. The company's revenue exceeds $134.4 billion and has 155,000. According to Forbes, "The family still owns roughly 90% of Cargill, which did $134.4 billion in 2022 sales across food, agriculture, financial and industrial divisions."
Forbes magazine believes that Pauline MacMillan Keinath has given away less than 1% of her wealth.
If you had her money, what causes would you support?