Forbes’ annual ranking of richest people around the globe is out, and two billionaires from Montgomery County have made the cut, writes Fabiola Cineas for Philadelphia Magazine.
John Middleton ranks 717 with $2.8 billion while Michael G. Rubin is at 896 with $2.3 billion.
John Middleton sold his family’s tobacco business to Altria for $2.9 billion ten years ago. The John Middleton business was started by Middleton’s great-great-grandfather as a small retail tobacco shop in 1856.
With a stake of close to 50 percent, Middleton is also the largest individual shareholder in the Philadelphia Phillies. In addition, he sits on the board of trustees at Amherst.
Michael G. Rubin, whose tale of bankruptcy to billionaire is well known, started Mike’s Ski & Sport out of his parent’s ’basement aged just 15. The endeavor had already turned into three stores by the time he graduated high-school.
He later created GSI Commerce, which was purchased by eBay for $2.4 billion six years ago.
As a part of the deal he agreed to pay $500 million to purchase three assets eBay no longer wanted, sports merchandiser Fanatics, flash sales website Rue La La, and ShopRunners.
Read more about the rankings at Philadelphia Magazine by clicking here.
