Four MoCo Residents Make the Forbes “400 Wealthiest Americans” List

MCS Staff October 5, 2023 at 3:20pm

Earlier this year Forbes released its annual “World’s Billionaires List”, which at the time had six Montgomery County residents on it. On Tuesday, Forbes released its list of the 2023’s 400 Wealthiest Americans this past Tuesday, with five Marylanders (four from Montgomery County) making the cut. The Montgomery County residents can be seen below.

Rank #161: Annette Lerner and family (Chevy Chase)

Per Forbes:

In 1952, Annette lent $250 to her 26-year-old husband, Ted Lerner, to start a real estate company, selling homes for developers.
Today, Lerner Enterprises is among the largest owners of real estate in the Washington, D.C area.
Since 2006 the Lerner family has owned the Washington Nationals baseball team. In June 2018, Ted passed control of the team to son Mark.
The family donates to charities including Children’s National Hospital in DC, George Washington University and Hebrew University in Jerusalem.
In February 2023, Ted Lerner died, leaving Annette and her children as the heirs of his estate.

World Rank #244: Mitchell Rales (Potomac)

Per Forbes:

Mitchell Rales and his brother Steven acquired a real estate investment trust in 1983 and merged it into the firm Danaher.
Over the years they acquired more than three dozen companies and turned Danaher into an industrial firm with $29.45 billion in revenues.
In July 2016, Danaher spun off its industrial technologies, measurement and petroleum businesses into Fortive Corporation.
Mitchell Rales retired from his position at Fortive Corp. in 2021 but he is still chairman of Danaher’s executive committee.
In June, he and his brother each transferred Danaher shares worth more than $1.5 billion to their charitable foundations.
Mitchell Rales became part owner of the Washington Commanders, purchasing the team with majority partner and Montgomery County-native Josh Harris.
Rales owns Glenstone museum, which can be previewed below.

https://www.instagram.com/reel/Cxv5nFlO4Yj/?igshid=MzRlODBiNWFlZA==

World Rank #278: Dan Snyder (Potomac)

Per Forbes:

Dan Snyder initially made his fortune with a marketing business, Snyder Communications, that he started as a college dropout.
After taking the company public in 1996, Snyder sold it to French firm Havas for $2.1 billion in stock in 2000.
In 1999, he bought the NFL’s Washington Commanders for $750 million, borrowing $350 million to do so; it’s now worth $5.6 billion.
After years of controversy over the Native American origins of the team’s former name, the Redskins, Snyder renamed the team the Commanders in 2022.
In 2019, Snyder made waves with his new $192 million yacht Lady S, which has an IMAX theater.
Snyder cleaned and mopped the floors at the cafeteria inside the National Institute for Health as a high school student.
Snyder sold the Commanders earlier this year and has put his Potomac home up for sale as well.

World Rank #940: David Rubenstein (Bethesda)

Per Forbes:

David Rubenstein is one of three billionaire founders of private equity firm Carlyle Group, which is approaching $400 billion in assets under management.
He cofounded Carlyle in 1987 with William Conway Jr. and Daniel D’Aniello. He now serves as non-executive co-chairman.
Rubenstein got his start as a Carter Administration official and later became an attorney.
In the early days Rubenstein raised the money and managed Carlyle’s stable of advisers, which included George H.W. Bush.
He donated $18.5 million in 2016 to restore the Lincoln Memorial and expand exhibits and research there.

Featured photo shows Glenstone Museum, owned by Mitchell Rales