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Working & the Economy

Here’s the Richest Resident in Maryland

Richest Resident
Ted Lerner, the developer whose family owns the Washington Nationals, has been named the richest person in Maryland in 2019. (MASN Nationals/YouTube)

By Elizabeth Janney

Forbes analyzed the fortunes of the country’s richest people to identify each state’s wealthiest person. This is the magazine’s fifth edition of the list.

Maryland’s richest resident is developer Ted Lerner and family, worth $5.1 billion, according to Forbes.

Lerner is the founder of Lerner Enterprises, building a development empire that began with a $250 loan from his wife in 1952 to start a real estate company, selling homes for developers. Now he owns 20 million square feet of commercial and retail space, plus hotels, and 7,000 apartments.

Lerner Enterprises has developed properties like Dulles Town Center Mall and Reston Town Center in Virginia, Leisure World in Silver Spring, Fallsgrove Village Center in Rockville and others.

The family is the majority owner of the Washington Nationals, which they purchased in 2006, and Lerner Enterprises worked with the District of Columbia to construct Nationals Park. In 2018, Ted Lerner, who is now 93, handed over the reins to his son as the principal owner of the Nationals.

Lerner built his home in Chevy Chase, estimated to be worth $1.5 million, after buying the land for $10 in the 1960s, Washingtonian reported. The family is also very philanthropic, giving to a variety of causes and earning them a top philanthropy score from Forbes.

Collectively, the wealthy on the Forbes list of the richest people by state had a net worth of $875 billion, which the magazine says set a new record.

The net worth of the individuals on the list varies. For example, Washington is home to the world’s two richest and most recognizable billionaires — Jeff Bezos and Bill Gates. But in certain states, the richest people only had a nine-figure net worth, according to Forbes.

Here are the richest people on the Forbes list:

  • Jeff Bezos & family: $157 billion (Washington)
  • Warren Buffett: $85 billion (Nebraska)
  • Mark Zuckerberg: $71 billion (California)
  • Michael Bloomberg: $53.8 billion (New York)
  • Jim Walton: $51.1 billion (Arkansas)
  • Alice Walton: $50.1 billion (Texas)
  • Charles Koch: $42 billion (Kansas)
  • Sheldon Adelson: $35.7 billion (Nevada)
  • Phil Knight & family: $35 billion (Oregon)
  • Jacqueline Mars: $28.1 billion (Virginia)
  • John Mars: $28.1 billion (Wyoming)

See the full list of the richest people in every state from Forbes, including Lerner.

Editor’s note: Maryland Matters has a content sharing agreement with To see the original article, click here.

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Here’s the Richest Resident in Maryland