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Who Makes How Much: Billionaires
Here's what Washingtonians get paid for the work they do By Sherri Dalphonse, Kimberly Palmer
Comments () | Published November 9, 2010
Yes, there is real money in the Washington region. Every year, Forbes magazine does the digging and divines the worth of America’s 400 richest people. While the very wealthiest—Microsoft’s Bill Gates ($54 billion) and Berkshire Hathaway’s Warren Buffett ($45 billion)—don’t live here, those good friends and philanthropy partners both spend a good bit of time in Washington. Buffett grew up here, attending DC’s Woodrow Wilson High School, and is a prominent board member of the Washington Post Company.

Washington’s resident billionaires do very well, too. Here’s who they are and where their money came from.

Jacqueline Mars, $10 billion.
The heiress to the Mars candy fortune—granddaughter of the company founder and daughter of M&M’s creator Forrest Mars Sr.—is a philanthropist and supporter of the Washington National Opera, the National Symphony Orchestra, and the US Equestrian Team. Brothers John and Forrest Jr. have retired to Wyoming. She lives in The Plains, Virginia.

Ted Lerner, $3 billion.
The founder of the family real-estate company Lerner Enterprises—developer of Tysons II, White Flint, Dulles Town Center, and other shopping malls in the area as well as a partner in the sports-and-entertainment complex Chelsea Piers in New York City—also owns the Washington Nationals.

Mitchell Rales, $2.6 billion.
Founder with his brother, Steven, of the diversified manufacturing company Danaher, Mitchell Rales is a trustee of the National Gallery of Art and collector of post–World War II American art, including works by Alexander Calder and Jackson Pollock. The art is housed at his private museum in Potomac.

Steven Rales, $2.3 billion.
Founder with his brother, Mitchell, of the diversified manufacturing company Danaher, Steven Rales is also founder of the film-production outfit Indian Paintbrush Company, producer of The Darjeeling Limited and other movies.

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Posted at 12:00 AM/ET, 11/09/2010 RSS | Print | Permalink | Comments () | Washingtonian.com Articles