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Nine Arizona billionaires remain on Forbes list of world's richest

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Posted at 8:40 AM, Apr 09, 2020
and last updated 2020-04-09 11:40:52-04

Just like last year, Arizona has nine billionaires in 2020 according to Forbes magazine’s annual list of the world’s richest people.

Those names are among the few things that remained the same for this year’s list of billionaires, as Los Angeles Angels owner Arturo Moreno claimed the top spot for Arizona, going from a net worth of $3.0 billion in 2019 to $3.3 billion this year to rank at No. 590 on Forbes’ list.

Ernest Garcia II, owner of auto dealer DriveTime and chairman of Carvana Co. — who topped last year’s Arizona list — landed at No. 5 in Arizona this year as his wealth dropped from $3.2 billion 2019 to $2.4 billion this year.

Garcia’s drop was representative of general movement of people on both the overall list and those on Arizona's, where only four of the nine saw year-over-year wealth gains.

Read more from the Phoenix Business Journal.