The Richest Person in Every US State for 2015
So how did they get to where they are? Are they all self-made entrepreneurs, or were they just lucky? Do they hoard all that wealth, or do they give back?
Alabama: Garry Drummond
Net Worth: $980 Million
Source Of Wealth: coal
Residence: Birmingham, AL
Citizenship: United States
Marital Status: Married
Education: Bachelor of Arts / Science, University of Alabama
Eight decades ago, Garry Drummond’s father put up three mules as collateral on a $300 bank loan from a rural Alabama bank; those beasts were an active part of the business, hauling coal from mines to the farms and homesteads that became his customers. That Depression-era industriousness paid off handsomely. Garry started at the business in 1961, after a University of Alabama engineering degree, and became CEO in 1973, three years after the company got its big break: a deal to provide coal to Japanese steel companies. The Drummond Company today is a $3 billion-in-sales miner of coal used in electric and steel production. Its enviable reserves total more than 2 billion tons through its mines in Alabama and Colombia. An expansion has led it into real estate, and it now oversees four luxury planned communities in Alabama, Florida and California.