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The
Virginia 100
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MARS
FAMILY
McLean and Arlington. The Mars family remains as publicity-averse
as ever running their candy and pet food empire that
includes Mars bars and Whiskas cat kibble. However,
brothers Forrest Jr., 71, and John Franklyn, 67, did
undertake discreet political lobbying to repeal Virginia’s
tax on estates valued at more than $1 million, without
ultimate success. Sister Jacqueline, 63, lives in New
Jersey.
Net worth: $11 billion
Confidence: C
JOHN
W. KLUGE
Charlottesville, Palm Beach, New York. 88. One of the
richest and legendary corporate moguls actually has
begun spending more time at his Florida estate than
on his rural retreat near Charlottesville, but still
maintains ties to the Old Dominion. Has bailed out of
Metromedia International Group, a global telecom outfit.
Has interests in other media and restaurants.
Net worth: $9 billion
Confidence: B
SMITH/KOGOD
FAMILY
Crystal City and Washington. The Charles E. Smith Cos.
was founded by immigrant Charles E. Smith in 1946. Son,
Robert H. Smith, 74, joined company in 1950, and son-in-law
Robert Kogod, 71, joined in 1959. Built company into
the state’s largest real estate development and
management company. Took residential portfolio public
in 1994 as Charles E. Smith Residential Realty Inc.
Consolidated office buildings during 1997 and 1998 into
Charles E. Smith Commercial Realty L.P., a private master
limited partnership.
Net worth: $1 billion
Confidence: A
MICHAEL
SAYLOR
Vienna. 38. MicroStrategy’s CEO and co-founder
has had giddy highs and humiliating lows but guess what?
He’s still got his job, something buddies like
Steve Case and WorldCom’s John Sidgmore can’t
say. And he’s made something of a comeback. With
his company refocused on its core business of providing
e-business software that allows customers to mine information
from databases, its shares have climbed from below $3
a year ago to the upper $20s. The company did a 1-for-10
reverse stock split last year. It’s been making
money — $556,000 in the first quarter — and
growing its sales force by nearly half in the past year.
Saylor mostly lays low these days.
Net worth: $900 million
Confidence: B
FRANK
BATTEN SR.
Virginia Beach. 76. Five years into retirement from
running Norfolk-based Landmark Communications and giving
away his wealth. In March he announced plans to donate
more than $170 million to seven schools and educational
institutions, including $32 million to both Old Dominion
University and Harvard Business School. Money is in
form of stock Batten got from mid-1980s sale of TeleCable,
a Landmark division. Still chairs executive committee
of board of directors for Landmark, which son Frank
Jr. now runs. Company owns The Virginian-Pilot and The
Roanoke Times and other papers, along with The Weather
Channel.
Net worth: $900 million
Confidence: C
SINGHS
Mount Vernon. This husband and wife team of engineers
has a long history of building up Northern Virginia’s
telecommunications prowess. Now they’re taking
their lumps. Raj Singh, 48, and Neera Singh, 44, have
seen their share holdings in LCC International plummet
as its stock fell from about $3.75 a share a year ago
in April to a little more than $2 a share this April.
The Singhs were founders of LCC and remain directors.
Raj Singh is also co-founder of Teligent, which has
emerged from bankruptcy although he and Neera are no
longer on the board, and Telcom Ventures, which scrounges
for new tech investments.
Net worth: $900 million
Confidence: C
CURRIER
FAMILY
The Plains. Sisters Andrea Bruce Currier, 47, and Lavinia
M. Currier, 46, come from a long line of philanthropists
and patrons of the arts. Their family helped build the
National Gallery of Art. Lavinia also dabbled in filmmaking
with her 1998 directorial debut, “Passion in the
Desert,” a feature film based on a short story
by Honore de Balzac, for which she also wrote the screenplay.
Both sisters serve on board of nonprofit Friends of
Bull Run. Together have loaned or donated more than
$2 million to Virginia Outdoors Foundation to help preserve
land in Bull Run area.
Net worth: $650 million
Confidence: C
GOTTWALD
FAMILY
Richmond. After years of slumps, fuel additive maker
Ethyl Corp. is finally enjoying a spurt of profitability.
In 2002, sales of petroleum additives grew 12 percent
and operating profit was up 60 percent. Stock has likewise
been looking better. Ethyl is now run by Thomas “Teddy”
Gottwald, 42, who is the son of former Ethyl chairman
Bruce C. Gottwald, 69. Bruce’s brother, Floyd D.
Gottwald Jr., 80, is vice chairman of Albemarle Corp.,
a spin off that makes chemical additives. Floyd’s
son, John D. Gottwald, 48, is chairman of another spin
off, Tredegar Corp. that makes aluminum extrusion products.
Net worth: $650 million
Confidence: C
FRANK
BATTEN JR.
Norfolk. 44. Chairman of Landmark Communications Inc.
took a hit with flop of Norfolk-based Great Bridge Inc.,
which offered open-source database applications. Landmark
put in $25 million but the start-up closed in late 2001
after just 16 months from weak demand — and competition
from another firm in which Batten owns a stake, Linux-based
Red Hat. Batten’s 21.4 million Red Hat shares were
trading around $6 a share in early May. Lately Batten
has expanded Landmark’s reach in broadband. Its
wireless subsidiary, Norfolk-based Continental Broadband,
bought Newport News-based VisiNet, which has a fiber-based
network across much of the state. Landmark owns The
Weather Channel and newspapers The Virginian-Pilot and
The Roanoke Times. Batten also serves as a rector at
Old Dominion University.
Net worth: $600 million
Confidence: B
STEPHEN
M. CASE
McLean. 45. Case laid low following the January announcement
that he’d step down as chairman of AOL Time Warner
effective at the annual stockholder meeting in May.
The $112 billion merger of America Online and Time Warner
was a bust, and Case took it personally as his net worth
dropped out of the billionaire’s club. Case says
he quit to avoid a fight over his performance and to
protect his own investment there: He owns about 39 million
shares. Did it work? AOL-TW reported first quarter profit
of $396 million, helped in part by cost-cutting and
debt-dumping at AOL. Case and other execs still face
suit alleging illegal insider trading.
Net worth: $600 million
Confidence: B
OHRSTROM
FAMILY
Middleburg and The Plains. Magalen O. Bryant, 74, and
brother George L. Ohrstrom, 73, continue their activities
protecting the environment and boosting colleges with
the fortunes they inherited from their father, who founded
Johnson & Johnson. Bryant is on the boards of the
Dover Corp., the Carlisle Corp., Winchester-based O’Sullivan
Corp. and has been chairperson of the National Fish
& Wildlife Foundation.
Net worth: Magalen O. Bryant: $400 million
Net worth: George L. Ohrstrom: $140 million
Confidence: C
CARL
W. SMITH
Charlottesville. 76. Last year wasn’t a good one
for the coal business and Smith’s Fola, W.Va.,
surface mining cut production even as it spent more
than $12 million buying new reserves to extend the mine’s
life. A second mine operation recently launched nearby,
Powellton Coal Co., is ramping up with $18 million investment.
Also in the portfolio: 400,000 acres of Oklahoma oil
and gas fields. He and wife Hunter plan a $22 million
gift toward U.Va.’s $47 million performing arts
center. A former University of Virginia football player,
Smith helped fund the construction of U.Va’s football
stadium and recently donated $3 million for a new field
at the University of Virginia’s College at Wise
in his hometown.
Net worth: $500 million
Confidence: B
WES
FOSTER
McLean. 68. Privately-held real estate company he co-founded
in 1968 continues to rack up extraordinary growth. Last
year's sales were nearly $33 billion, a 31 percent increase
over 2001. Company handles mostly residential real estate
in seven states centered in Mid-Atlantic. Buoyed by
low mortgage rates and sizzling real estate markets,
company saw biggest growth in suburban Washington, D.C.
market, led by Montgomery County, Md. and followed by
three Northern Virginia areas.
Net worth: $500 million
Confidence: C
ROGER
W. SANT
Middleburg. 71. Stepped down as chairman of AES Corp.
last month, after shepherding the Arlington-based power
company through a bumpy year. Sold off $1 billion in
assets, mostly foreign subsidiaries, to restructure
debt. Stock, which had tumbled to less than $1 a share,
responded positively and rose to about $6 a share, though
still far from its $60-a-share level two years ago.
Sant says the firm is on the mend: “The stock is
lower than it was last year, but the company is ten
times better off.”
Net worth: $450 million
Confidence: A
ROBINS
FAMILY
Richmond. Family continues philanthropic legacy of late
E. Claiborne Robins Sr., who founded A.H. Robins pharmaceutical
company. Son E. Claiborne Robins Jr., 59, today runs
own private firm, ECR Pharmaceuticals. He helped raise
more than $14 million for Richmond’s new SPCA shelter,
named in his honor. Continues as trustee at the University
of Richmond to which the family has given a total of
$170 million. Another big event was recent opening of
$8.5 million education center, which includes The Robins
Library, at Lewis Ginter Botanical Garden. Family matriarch
Lora Robins, 90, her son, and daughters, Ann Carol Robins
Marchant and Betty Robins Porter, all serve as directors
for the Robins Foundation, created after the senior
Robins’ death in 1995. Recent awards include $500,000
to the Central Virginia Foodbank and $40,000 for the
purchase of stage spotlights at the Carpenter Center
for the Performing Arts.
Net worth: $450 million
Confidence: C
ROBEY ESTES FAMILY
Richmond. Robey Estes, 82, won a lifetime achievement
award last year from Ernst & Young after building
up Estes Express Lines, a trucking company founded by
his father in 1931. The firm saw its revenues grow last
year by 15.2 percent to $800 million and operates more
then 3,800 trucks from 100 terminals, serving the eastern
U.S. Operations are run by son Robey Estes Jr., 50.
New worth: $400 million
Confidence: C
THEODORE
J. LEONSIS
Great Falls. 47. One of the few surviving leaders of
AOL. Has held on during AOL’s wild ride after its
2000 takeover of Time Warner, a merger that many now
regard as an unmitigated disaster. Still, Leonsis has
survived and is currently vice chairman and president
of AOL Core Services. Has seen net worth roller-coaster
along with AOL Time Warner’s stock price. But still
maintains keen interest in Washington-area sports teams,
including the Washington Wizards basketball team from
which superstar Michael Jordan retired (again). His
Washington Capitals hockey team has been losing $20
million a season.
Net worth: $400 million
Confidence: A
C.
DANIEL CLEMENTE
Vienna. 66. Former lawyer turned conservative real estate
buyer ventured into real estate by developing Brighton
Mall in Falls Church. Managing or owns hundreds of millions
of dollars worth of real estate. Also founded several
banks, including Community Bank and Trust in Springfield
and First Commercial Bank of Arlington.
Net worth: $400 million
Confidence: C
CARL
D. SILVER
Fredericksburg. 76. Made his fortune in used cars and
then real estate, mostly in the fast-growing Fredericksburg
region. Lives quietly in a Fredericksburg neighborhood
instead of reclusive mansion. With son Larry he’s
developing big-box retail project Central Park on Interstate
95. It has 2.4 million square feet of shopping and more
on the way. Silver’s companies have broken ground
on the Celebrate Virginia tourism complex next to the
retail project. It’ll have golf courses and hotels,
a gondola across the Rappahannock River and potentially
a museum on slavery, a project led by former Gov. L.
Douglas Wilder.
Net worth: $400 million
Confidence: C
KIRBY
FAMILY
Claremont. The Kirby family, whose fortune was by founded
125 years ago when the late Fred Morgan Kirby merged
his variety stores with F. W. Woolsworth, continues
their Surry County Plantation. Roger H. W. Kirby is
executive vice president of Guilford Co., a private
investment firm in Richmond. Noting, “This past
year was another poor one for equity investors,”
the Kirby’s net worth remained the same as last
year.
Net worth: $350 million*
Confidence: B
McGLOTHLIN
FAMILY
Grundy. Woodrow W. 88. Started out in coal mining and
later helped start The United Co. in Bristol, which
branched out into oil, gas, real estate and financial
services. Sold his stake in 1998 and created McGlothlin
Foundation to support higher education, health care
and the arts in Southwest Virginia. Foundation donated
$1.5 million to Radford University for the naming of
the Cook Hall of International Education in honor of
Woodrow's late wife, Sally Cook McGlothlin and her parents.
Son Thomas D. McGlothlin serves as president of family
foundation from offices in Bristol. His father and brothers,
Jim and Michael, are directors on foundation board.
Michael is an attorney who practices in Grundy. Jim
continues as CEO at The United Co.
Net worth: $350 million*
Confidence: C
ATHALIE
“JOAN” IRVINE SMITH
Middleburg and Corona Del Mar, Calif. 70. Heiress
to the Irvine Co. real estate fortune. Joan Irvine Smith
Fine Arts Inc. of Laguna Beach, Calif., sponsors the
California Art Club Outdoor Painting Festival each year.
Helped form the Reeve-Irvine Research Center, dedicated
to researching spinal cord trauma and loss of neurological
function. Collaborating on project with actor Christopher
Reeve, the University of California, Irvine, and the
American Paralysis Association.
Net worth: $350 million
Confidence: C
BETTY
SCRIPPS HARVEY
Charlottesville and Palm Beach. Chairman of Charlottesville-based
Scripps Enterprises Inc., a private firm with holdings
in real estate, gas and oil. Her late husband, Edward
Willis Scripps, had ownership interests in Scripps-Howard
newspaper chain, which she sold in 1996. Remarried Jeremy
Harvey. For last several years has chaired the annual
Washington Opera Ball in Washington, D.C., donating
$1 million to the organization in 2002.
Net worth: $300 million
Confidence: B
FIRESTONES
Upperville. Husband and wife heirs still are very active
in horse racing and their steeds trot at events up and
down the East Coast. Diana Johnson Firestone, 71, is
the heiress of the estate of Johnson & Johnson scion
John Seward Johnson. Her husband is Bertram R. Firestone,
71.
Net worth: $300 million
Confidence: C
WINKLER
FAMILY
Alexandria. Mark Winkler died in 1970, leaving most
of his fortune to his wife, Catherine, and three daughters.
His real estate company, the Mark Winkler Co., is still
going strong, managing roughly 11 million square feet
of commercial space in the Washington, D.C., area, valued
at more than $1 billion. Daughter Tory Winkler Thomas
is chairman of the board. Company serves as project
manager for the $500 million Howard Hughes Medical Institute
research campus under construction in Loudoun County.
Net worth: $300 million
Confidence: C
JOSEPH
E. ROBERT JR.
McLean, 52. Founder and head of J. E. Robert Companies,
a private commercial real estate firm with operations
in North America and Europe. Company recently spent
$28 million with joint venture partner to acquire nine
assisted-living projects in five states. Invests in
or manages more than 30,000 assets with an aggregate
book value exceeding $40 billion. Robert remains active
as chairman of Fight for Children, Inc., a Washington-based
philanthropic group that raises money for children’s
charities. Serves on several nonprofit boards and is
a trustee for the National Health Museum in Washington
devoted to helping children develop healthy lifestyles.
Net worth: $260 million
Confidence: C
RACHEL
BUNNY MELLON
Upperville. Widow of multibillionaire philanthropist
Paul Mellon, cofounder of the National Gallery of Art.
Continues late husband’s support of the arts, recently
donating $250,000 to extend arts education to students
in Fauquier and Loudoun counties. The Mellon estate
grant will provide a leased facility, musical instruments
and instructional equipment for the nonprofit Shenandoah
Arts Academy in Loudoun County. At his death in 1999,
Mellon left his widow $110 million and his collection
of American abstract paintings.
Net worth: $250 million
Confidence: C
ROBERT E. LAROSE
Chantilly, 58. Founder and CEO of systems integrator
Integic is riding a wave of federal contracts. The firm
he founded 12 years ago took 10 years to grow revenues
of $100 million. In two more years, they’ve shot
up another $70 million. Eighty percent of the increase
is due to government demand for defense, homeland security,
justice and health care software and systems. Business
should keep going at 25 percent a year. Skittish stock
market has dropped $50 million from his net worth in
the past two years.
Net worth: $250 million
Confidence: A
NIGEL
W. MORRIS
Alexandria. 44. Morris served extensively as a consultant
in the banking area where he led assignments for money
center and regional banks across retail and commercial
business units. Building on his diverse background in
psychology, social work and business consulting, Morris
then started Capital One with his colleague and long-time
friend Rich Fairbank, Capital One’s chairman and
CEO. Their maverick idea was to integrate the traditionally
separate functions of marketing, credit, risk, operations
and information technology into one flexible structure.
This allows accounts to be customized and became Capital
One’s hallmark. Announced in April that he plans
to resign as Cap One’s president and COO by the
end of the year.
Net worth: $240 million
Confidence: B
SAUER
FAMILY
Richmond. Family owns nearly all of C.F. Sauer Co.,
maker of spices and extracts founded in 1887. Conrad
F. Sauer III is chairman, and Conrad IV is president.
Two other Sauers are vice presidents. Other subsidiaries
include Dean Foods, Metrolina Plastics Inc. — both
in Richmond — and the Duke’s brand of mayonnaise
and salad products in Greenville, S.C. Spent several
million pitching its Duke’s brand by sponsoring
a NASCAR race team but dropped that last summer.
Net worth: $230 million
Confidence: C
W.
RUSSELL RAMSEY
Great Falls. 43. Now a general partner of Capital Crossover
Partnerships, a hedge fund, Ramsey continues to drum
up good returns. Still shielded from high technology
downturn by diversifying investments. Remains a director
and shareholder at Friedman, Billings Ramsey Group which
he helped co-found and is perhaps Northern Virginia’s
best-known investment house.
Net worth: $225 million
Confidence: A
UKROP
FAMILY
Richmond. Owners of 27-store Ukrop’s Super Market
chain. Led by brothers James E. Ukrop, 66, chairman,
and President and CEO Robert S. Ukrop, 56. Family patriarch
Joseph Ukrop died in November 2002 at age 88, leaving
his estate, including shares of Ukrop’s stock,
to his wife, Jacquelin. James Ukrop is also chairman
of Ukrop’s First Market Bank and on board of Owens
& Minor, a medical supply distributor.
Net worth: $210 million
Confidence: C
GENE
B. DIXON JR.
Dillwyn, 60. President, Kyanite Mining Corp., operator
of world’s largest kyanite mine in rural Buckingham.
Company owns six production facilities in Virginia,
supplying global customers with material used in heat-resistant
products. Also owns The Cavalier Hotel in Virginia Beach.
Serves on board of trustees at Hampden-Sydney College,
his alma mater.
Net worth: $205 million
Confidence: C
IVOR
MASSEY JR. (FAMILY)
Richmond. A self-employed businessman since 1973 who
practiced law for 18 years before coming to his hometown
of Richmond to oversee the family fortune left by his
father. A principal with Monument Capital venture fund,
which provides venture capital to privately held tech
companies in the Richmond area. Its record is mixed:
Monument invested $1.5 million in 2000 in DR2DR.com,
a B2B applications provider for health care interests.
The firm sold its clients in April to a Florida company
after failing to grow or get more investors.
Net worth: $200 million*
Confidence: C
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