Forbes list of billionaires features 7 Arizonans

America: The land of opportunity

The Forbes 400 is known as the definitive list of wealth in America, profiling and ranking the nation’s billionaires by their estimated net worth. The 2019 ratings show people of every ethnicity and background have risen to the top due to diligence, hard work and the resolve to succeed. Contrary to what you would be led to believe if you rely on the local press for information, of Arizona’s 7 billionaires 3 are Hispanic. (Scroll down on this link and click on “state.”)

New to the list this year is 37-year-old Ernest Garcia III, the co-founder of used-car e-commerce site Carvana. In 2012, he had the idea to sell cars online, but his boss — his father, Ernest II — had his doubts. “I wasn’t sure people would buy a used car online without seeing it,” Ernie II says. According to Forbes, the Garcia’s were already motor moguls, owners of used-car dealerships from Atlanta to Albuquerque.

Ernie III was able to persuade his father, and today Carvana is a publicly traded, nearly $2 billion-in-sales business. The stock has more than doubled since January. Ernie III is president, CEO and chairman; his father is the largest shareholder.

Tucson native, Arturo Moreno, a former billboard industry executive, owns the Los Angeles Angels. Moreno, the oldest of 11 children born to Mexican parents who settled in Tucson, got his start working for outdoor advertising business mogul Karl Eller, who later merged his business with KTAR radio and television in 1968 to form Combined Communications, Inc. Moreno is a Vietnam vet and University of Arizona alum with a degree in marketing.

America’s Richest Self-Made Women is another interesting list to explore.

Capitalism, reviled by the Socialist-leaning Democrat presidential candidates, is responsible for leveling the playing field, and providing opportunity for those with relentless determination to succeed. 

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5 Responses to Forbes list of billionaires features 7 Arizonans

  1. Matt DeGennaro says:

    Opportunity is available to those who get off their butts, get an education, set goals and and work to achieve them. America is absolutely the land of opportunity.

    My grandparents were all Italian immigrants who eagerly learned English and were thrilled to become Americans. They prioritized education for their kids, instilling in them the notion that was the key to success. My father and his brothers all served in the military and used the GI Bill to attain their college educations. My cousins and I are all professionals. Pride in yourself and your country is a winning combination.

  2. Realist says:

    Arizona’s billionaires should all be Republicans, since the GOP promotes the concept of individual responsibility that is a major component for economic success. I’d be curious to know their party affiliation.

    • MacBeth says:

      According to Open Secrets the heavy hitting political donors giving to PACs are listed here. Red indicates Republican/Conservative. Blue is Democrat/liberal. Gray is “on the fence,” which is hard to believe when you‘re donating such substantial sums. Leftist Tom Steyer tops the list, followed by Socialist George Soros.
      https://www.opensecrets.org/outsidespending/summ.php?cycle=2020&disp=D&type=V&superonly=N

      The website says the information is based on data released daily by the FEC on Saturday, September 21, 2019.

      50 of the 96 listed lean left. 3 claim to be “on the fence.” The remaining 43 are Republicans. None of the donors are Arizona billionaires.

  3. Saguaro Sam says:

    Hope Blondie has her $$$ carefully hidden away.
    https://www.waynedupree.com/cindy-mccain-john-mcain-ukraine-trump/

    • East Valley Conservative says:

      Quite a reveal about McCain!! Just when we think we know all the lies and slippery antics he pulled, more utterly despicable acts and involvements are made known. McCain should have been the object of impeachment…not President Trump.

      McCain despised Trump because mediocre McCain was never able to achieve the presidency as Donald Trump easily did. His rage and jealousy reached such levels that he specifically uninvited President Trump and First Lady Melania to his funerals. That’s not a typo. Pompous showboater McCain had THREE funerals which he meticulously planned…down to the guest lists!!