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Old August 6, 2012, 02:33 AM
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Sohel Sohel is offline
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Originally Posted by F6_Turbo
So a billionaire from my area - someone born in Pittsburgh or has to be based in Pittsburgh?

*Bear with me...this is going to be painful
Choose wisely. Impacts your budget.

As usual, Forbes magazine's annual listing of the 400 richest people in America contains its fair share of Pittsburghers and Pittsburgh-connected people.

Highest-ranked locally was industrialist Henry Hillman ($3 billion, 39th place).

The others were Richard Scaife, publisher of the Tribune-Review ($1 billion/166th) and his sister, Cordelia Scaife May ($655 million/289th), Teresa Heinz ($550 million/346th) and Richard Simmons, chairman of Allegheny Teledyne Inc., ($530 million/357th).

There are also those with strong Pittsburgh connections.

Paul Mellon, 90, resides in Virginia. His fortune is estimated at $1.3 billion. The Mellons were also listed among Forbes' wealthiest families (combined worth: $6.2 billion).

Stanley Druckenmiller ($800 million) started as a stock analyst at what is now PNC Bank Corp. and then founded the money management firm Duquesne Capital Management. Since 1989, he has been running George Soros' Quantum Fund.

Forbes lists three residences -- in Monaco, New York and London (Sutton Place, the former home of J. Paul Getty) -- for Frederick Robinson Koch ($600 million), but Mr. Koch is also restoring Elm Court, an historic mansion in Butler. Thomas Lee ($750 million), whose namesake venture capital firm bought Fisher Scientific for $1.4 billion and had sold a substantial stake in General Nutrition Cos. Inc. a few years ago.

Among the near misses was Margaret Hardy Magerko ($450 million), chief executive of 84 Lumber Co.
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