Meet Arizona’s 15 richest people

Arizona’s richest resident is the largest shareholder in Carvana.

The world has 3,028 billionaires, according to the latest Forbes list—and over a dozen of them are Arizonans. 

The current world list has added 247 billionaires since last year. The total group is worth over $16 trillion, up nearly $2 trillion from last year.

Meanwhile, the median net worth of an American family is $192,900, according to the latest Federal Reserve data.

Here are Arizona’s billionaires and their net worths as of March 7, 2025:

1. Ernest Garcia II, $14.9 billion

Ernest Garcia II, 67, founded used-car company DriveTime. In 1990, when he was 33, he pleaded guilty to felony bank fraud as part of his role in the collapse of Lincoln Savings & Loan. He is also the biggest shareholder in Carvana, a used-car retailer based in Tempe. Carvana was founded by his son Ernest Garcia III, who is also a billionaire. 

2. George Kurtz, $6.3 billion

George Kurtz, 54, is the CEO and co-founder of cybersecurity company CrowdStrike, which went public in 2019. Before CrowdStrike, he started a security tech firm that was acquired by McAfee in 2004. 

3. Ernest Garcia III, $5.7 billion

Ernest Garcia III, 42, is the son of fellow billionaire Ernest Garcia II. He is the CEO and cofounder of Tempe-based used-car retailer Carvana. 

4. Mark Shoen, $5.1 billion

Mark Shoen, 74, is the son of the couple that started truck-rental company U-Haul, which is now headquartered in Phoenix. He owns about one-fifth of U-Haul’s parent company Amerco. 

5. Arturo Moreno, $5 billion

Arturo Moreno, 78, has owned the Los Angeles Angels baseball team since he bought it for $184 million in 2003, becoming the first Mexican American to own a major US sports team. He made his money through his billboard company Outdoor Systems, which he sold in 1999 for $8.7 billion. 

6. E. Joe Shoen, $4.5 billion

Joe Shoen, 75, is another heir to the family that started U-Haul. He forced his dad into retirement in 1986 to take over the company, upsetting most of his 12 siblings. He also owns about one-fifth of Amerco and reportedly maintains a good relationship with Mark.

7. Stewart Horejsi, $3.9 billion

Stewart Horejsi, 87, started investing in Berkshire Hathaway in 1980—and it’s now the world’s most expensive stock. He has also invested millions into his own mutual fund. 

8. Bob Parsons, $3.9 billion

Bob Parsons, 74, founded web-hosting company GoDaddy, which is headquartered in Tempe. He sold a software firm for $64 million in 1994, three years before he started the company that became GoDaddy. He owns the Scottsdale National Golf Club. 

9. Bennett Dorrance, $3.4 billion

Bennett Dorrance, 79, is an heir to the family that started Campbell Soup. He is a founding partner of a real-estate development firm that has projects in Arizona and other states, and he owns a private hangar in Scottsdale. 

10. Rick Smith, $1.8 billion

Rick Smith, 54, is the founder and CEO of Axon Enterprise, which manufactures tasers, body cameras, and other equipment used by law enforcement. Axon, based in Scottsdale, is planning to build a new headquarters in the city but has met pushback. Smith has threatened to pull out if the Legislature doesn’t pass a bill creating a new zoning ordinance that would allow for the project to move forward without voter approval. 

11. George Christ, $1.7 billion

George Christ, 70, cofounded a software company called Altair Engineering in 1985. He retired before the company went public in 2017 but he is still the second largest individual shareholder. His cofounder, James Scapa, is also a billionaire. 

12. Jerry Moyes, $1.7 billion

Jerry Moyes, 81, founded Swift Transportation with his dad in 1966. Then, the company consisted of one truck that transported goods between Arizona and California. After growing to a fleet of 20,000 trucks, Swift merged with Knight Transportation in 2017. Moyes also owned the Arizona Coyotes until the team filed for bankruptcy in 2009.  

13. Peter Sperling, $1.7 billion

Peter Sperling, 65, is an heir to the family that started Apollo Education Group, which owns and operates the University of Phoenix. Sperling joined the company a decade after his father founded it and stepped down as chairman when it went private in 2017. 

14. Jahm Najafi, $1.3 billion

Jahm Najafi, 62, is a private equity investor and part owner of the Phoenix Suns basketball team. His family immigrated to the US from Iran when he was a child. In 2003, his investment firm bought domain registrar Network Solutions for $100 million, and just four years later he sold it for $800 million. 

15. Ken Kendrick, $1.2 billion

Ken Kendrick, 81, is the largest shareholder of the Arizona Diamondbacks baseball team. He made his money by founding software development company Datatel and investing in a community bank in Texas.

BONUS

Mat Ishbia, $9.8 billion

Justin Ishbia, $5.1 billion

While Mat Ishbia, 45, and his brother Justin, 47, don’t live in Arizona, they play a big role here—they own the Phoenix Suns and Mercury. Mat Ishbia is the chairman and CEO of United Wholesale Mortgage (UWM), which his father started in 1986. Justin Ishbia has a 22% stake in UWM, and he’s also the founder and managing partner of Shore Capital Partners.

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