Having played the real estate market for decades, the Chicago-based Zell knows when to buy and when to sell. Real estate has been on yet another streak. Charles and David are each worth some $2.5 billion. Publicly, Charles appears unfazed by the feud and continues to run Koch as a lean, moneymaking powerhouse. The fight is ugly and lawsuits have become a regular part of their lives. In 1983 Bill and Fred cashed in their shares for $500 million apiece, only to decide they had been cheated and were owed close to another $500 million each. The four brothers have been involved in a lengthy dispute over ownership, with Charles and brother David siding against Fred Jr. He is also a tough negotiator-too tough, perhaps. The eldest of the bunch is the very private Charles, known for holding meetings with his executives on Saturdays. Koch Industries is a powerhouse not to be taken lightly-and one that is controlled by just two brothers. The company should earn in excess of $3 billion before taxes this year and employs some 13,000 workers. Today Wichita, Kans.-based Koch Industries is one of the largest privately owned businesses in the country, with sales in excess of $30 billion coming from oil & gas, minerals, finance, real estate, chemicals and agriculture. Tough as nails, industrialist Charles Koch took over the family business from his father more than 20 years ago when the company revenues from oil and ranching assets totaled less than $200 million. None of these businesses is sexy, but considering the combined values, Washington, now 63, isn't bothered by that. His other big holdings include California road and bridge builder, Kasler Holding rail lines in Montana and British Columbia and Canada's largest tug and barge company and ocean shipping firm, Norsk Pacific. His experience and team of no-nonsense managers have helped to turn MK's fortunes around. His most public venture was his taking control of the once grand Morrison Knudsen company, which had been run into the ground by the disastrous management practices of William Agee. He sold half of what had been an $18 million investment for $125 million in 1989. He reopened its operations, got rid of the unions and implemented profit sharing with his employees. His biggest win was undoubtedly his purchase in 1985 of the then-idle Anaconda copper mine.

Washington is a value investor who knows a bargain when he sees one. Preferring to work for himself, in 1967 he began acquiring his own machinery, moving into mining and heavy construction. entrepreneur began modestly, starting out of high school building a mill in Alaska.

Currently worth $1.5 billion, Washington ranks 70th on the list of Americans. No technology-just old-fashioned common sense, great timing and an eye for a good deal.ĭennis Washington controlling shareholder of construction firm Morrison Knudsen. Away from the glare of the media and avoiding the celebrity, many people on our list have built up their own power bases and wealth by investing in what wrongly may be viewed as the boring industries like construction, mining, textiles and real estate.Ĭonsider these three billionaire entrepreneurs. the big names are all too common: Bill Gates, Warren Buffett, Larry Ellison, Sumner Redstone, and there are the families such as the Waltons and the Rockefellers. There are close to 500 billionaires around the world today, with the number growing by some 50 each year.Īnd they are making their money from a diverse range of industries: Oil & gas, real estate, railroads, sports teams, media, technology and mining are some of them. And besides sheer numbers, the average wealth of this powerful group is rising, up more than 100% from $2.2 billion in 1994 to this year's average of $4.7 billion. Europeans came in second with 52 and the Asians third, with 44. Making the cut this year, are 70 Americans, not even half of the actual number of billionaires this country can take credit for.

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