Current Richest Person in North Dakota
The richest person in North Dakota is Gary Tharaldson, founder and chairman of Tharaldson Companies, a hospitality and real estate firm based in Fargo. Forbes lists his net worth at roughly 2.4 billion dollars, making him the wealthiest individual in the state according to the latest available public data Forbes.
Tharaldson built his wealth through early investments in rural hotels and expanded into a large portfolio of hotels, real estate, and private equity across the United States. His holdings include hotel properties in multiple states, and his company continues to develop hospitality and commercial real estate projects.
How Gary Tharaldson Built His Fortune
Early Career and Business Strategy
Tharaldson started in the hotel business in the 1980s, acquiring small motels in North Dakota and gradually expanding through acquisitions and new construction. His strategy focused on value-oriented hospitality assets in underserved markets, which allowed him to compound wealth over decades.
Major Holdings and Investments
Tharaldson Companies owns and operates a large network of hotels and resorts, with additional exposure to commercial real estate and private equity deals. The company's headquarters remain in Fargo, and its portfolio spans multiple states, contributing to Tharaldson's position as the richest person in North Dakota.
Comparison With Other North Dakota Billionaires
Other wealthy individuals in North Dakota include Harold Schafer, founder of Gold Seal Company, and the Mars family, whose candy and pet food empire has roots in the state. However, current public estimates place Tharaldson at the top of the state's wealth rankings, ahead of heirs and other business founders.
Forbes and other trackers update net worth estimates annually using public company data, SEC filings, and real estate records. While rankings can shift, Tharaldson remains the clearest example of a self-made billionaire from North Dakota based on the latest available disclosures SEC.