Alabama, often celebrated for its rich history, Southern charm, and picturesque landscapes, is also home to some of the wealthiest individuals in the United States. These influential figures have made their fortunes across various industries, from real estate and banking to technology and retail. In this article, I explore the top 10 richest people in Alabama, highlighting their Net worth, contributions, industries, and how they’ve shaped the economic landscape of the state.
1. Jimmy Rane
- Net Worth: $900 million
- Industry: Lumber, Retail
- Profile: Known as the “Yella Fella” from his iconic commercials, Jimmy Rane is the CEO of Great Southern Wood Preserving. Rane has built his fortune in the lumber industry, turning his company into one of the largest producers of pressure-treated lumber in the U.S. Despite his success, Rane remains deeply connected to Alabama, investing in education and community development.
2. Ray Scott
- Net Worth: $500 million
- Industry: Outdoor Sports, Media
- Profile: Ray Scott is the founder of the Bass Anglers Sportsman Society (B.A.S.S.), which revolutionized the sport of bass fishing. His influence extends beyond Alabama, making bass fishing a mainstream sport. Scott’s entrepreneurial spirit and passion for the outdoors have earned him a place among Alabama’s wealthiest.
3. Rane Wheeler
- Net Worth: $480 million
- Industry: Real Estate, Construction
- Profile: Rane Wheeler made his fortune in real estate and construction, developing numerous residential and commercial properties across Alabama. His company, Wheeler Real Estate Investment Trust, is one of the leading real estate firms in the Southeast. Wheeler is also known for his philanthropic efforts in urban development and education.
4. Patricia Barnes (Sister Schubert)
- Net Worth: $300 million
- Industry: Food Industry
- Profile: Patricia Barnes, affectionately known as Sister Schubert, is the founder of Sister Schubert’s Homemade Rolls, a beloved brand across the U.S. Her company’s success has made her one of the richest women in Alabama. Barnes is also dedicated to charitable work, particularly in child welfare and education.
5. Forrest G. Lammey
- Net Worth: $280 million
- Industry: Insurance, Investments
- Profile: Forrest G. Lammey is a key figure in the insurance and investment sectors in Alabama. His leadership in building one of the most successful insurance companies in the Southeast has earned him significant wealth. Lammey is also an active supporter of local charities and community initiatives.
6. John Johns
- Net Worth: $260 million
- Industry: Insurance
- Profile: John Johns, former CEO of Protective Life Corporation, is a prominent figure in Alabama’s financial industry. His tenure at Protective Life saw significant growth and expansion, establishing the company as a leader in the insurance sector. Johns is also known for his contributions to education and the arts.
7. The Harbert Family
- Net Worth: $250 million
- Industry: Construction, Investments
- Profile: The Harbert family, known for founding Harbert Management Corporation, has deep roots in Alabama. The family’s wealth comes from a diverse portfolio, including construction, real estate, and private equity investments. Their philanthropic efforts focus on healthcare, education, and community development.
8. Rane C. Cosby
- Net Worth: $240 million
- Industry: Automotive, Investments
- Profile: Rane C. Cosby is a major player in Alabama’s automotive industry, with significant investments in car dealerships and manufacturing. Cosby’s business acumen and strategic investments have made him one of the richest individuals in the state.
9. Elton B. Stephens
- Net Worth: $230 million
- Industry: Wholesale, Retail
- Profile: The late Elton B. Stephens was the founder of EBSCO Industries, one of the largest privately owned companies in the U.S. His family continues to manage and grow the company, with interests in publishing, insurance, and real estate. The Stephens family is also known for their philanthropic work, particularly in education and the arts.
10. Johnny Johns
- Net Worth: $220 million
- Industry: Banking, Finance
- Profile: Johnny Johns is a prominent figure in Alabama’s banking and finance industry. As a key executive at several financial institutions, Johns has played a significant role in shaping the state’s economic landscape. His contributions to business and community development are widely recognized.
Conclusion
Alabama’s wealthiest individuals have made their fortunes through hard work, innovation, and strategic investments across various industries. From lumber and real estate to insurance and food, these top 10 richest people in Alabama have significantly contributed to the state’s economic growth and prosperity. Their success stories serve as an inspiration and a testament to the opportunities available in the Yellowhammer State.
Related: Top 10 Richest People in Iowa
Hello, my name is William Baker and I am a seasoned business strategist with over a decade of experience driving growth and profitability for organizations across diverse industries. I have in-depth knowledge of market analysis, financial modeling, and operational efficiency. I am passionate about helping businesses overcome challenges, seize opportunities, and achieve sustained success.
