The 2025 Forbes 400 list, Forbes’ annual ranking of the richest Americans, includes several billionaires with ties to Virginia. The list measures wealth as of September 1, 2025, and highlights fortunes built through industries ranging from candy and pet food to private equity and energy. Virginia’s wealthiest individuals collectively represent a wide spectrum of American business success, including family-owned enterprises, investment firms, and industrial giants. The state’s strongest representation comes from Northern Virginia’s financial sector and the Mars family empire, which continues to dominate the rankings nationally.
This year’s Virginia billionaires include some of the nation’s most influential business leaders and heirs to iconic American brands. Jacqueline Mars leads the state’s rankings as one of the wealthiest women in the world, while private equity pioneers Daniel D’Aniello and William Conway Jr. showcase Northern Virginia’s growing influence in global finance. Together, these individuals reflect the economic diversity and business power associated with the Commonwealth, as well as the long-term impact of family wealth, investment strategy, and entrepreneurship in shaping America’s billionaire class.
Jacqueline Mars
Jacqueline Mars is the richest person in Virginia, ranked #22 on the Forbes 400 list with an estimated net worth of $42.2 billion. At 85 years old, she inherited a significant share of Mars Incorporated, the global candy, pet food, and food products company founded by her grandfather Frank Mars. The company is known worldwide for brands such as M&M’s, Snickers, Milky Way, Pedigree, and Whiskas. Mars has long been considered one of the most successful privately held companies in America, and Jacqueline Mars’ wealth reflects the continued dominance of these household brands across global markets.
Although she keeps a relatively low public profile, Jacqueline Mars has been heavily involved in philanthropy and cultural preservation efforts. She has supported educational institutions, environmental initiatives, and equestrian organizations, reflecting her lifelong interest in horse breeding and riding. Mars has also contributed to arts organizations and conservation programs throughout Virginia and beyond. Her business legacy and philanthropic influence have made her one of the most recognized billionaire figures associated with the Commonwealth of Virginia.
Robert Pender
Robert Pender ranks as the second-richest person in Virginia on the Forbes 400 list, holding the #91 spot with an estimated fortune of $12.8 billion. At age 72, Pender built his wealth through the oil and gas industry, a sector that has produced many of America’s largest fortunes. His rise reflects decades of investment, energy production, and strategic business growth during periods of major expansion in domestic energy markets. His inclusion on the Forbes 400 highlights both the scale of his holdings and the enduring profitability of energy-related enterprises.
Despite maintaining a quieter public image than some billionaires, Pender’s success demonstrates the enormous economic impact of the energy sector in the United States. Oil and gas fortunes often stem from ownership stakes in exploration companies, pipelines, or mineral rights, and Pender’s wealth appears tied to this broader ecosystem. Virginia is not typically known as an energy billionaire hub, making his presence on the list particularly notable. His financial standing also places him among the most influential private business figures connected to the state.
Pamela Mars
Pamela Mars is another heir to the Mars Incorporated fortune and is ranked #114 on the Forbes 400 with a net worth of approximately $10.5 billion. At 65 years old, she remains one of the wealthiest women in America through her ownership stake in the family-controlled confectionery and pet food empire. Like Jacqueline Mars, Pamela benefits from the tremendous global success of Mars brands that dominate grocery shelves worldwide. The company’s broad portfolio extends beyond candy into veterinary services, pet nutrition, and packaged foods, making it one of the largest privately owned corporations globally.
Pamela Mars has spent years involved in company leadership and governance while helping preserve the family’s long-term ownership strategy. The Mars family is known for operating with privacy and maintaining tight control over the business rather than taking it public. This approach has allowed the company to focus on long-term expansion and innovation without shareholder pressure. Pamela’s fortune reflects both the company’s sustained growth and the enduring power of family-owned enterprises in the modern economy.
Daniel D’Aniello
Daniel D’Aniello, ranked #291 on the Forbes 400, has an estimated net worth of $5.3 billion. At age 78, he earned his wealth through private equity and is best known as a co-founder of The Carlyle Group, one of the world’s largest investment firms. Carlyle became a powerhouse in global finance by investing in industries such as defense, healthcare, technology, and infrastructure. D’Aniello played a major role in building the company from a Washington-area startup into an international financial institution managing billions of dollars in assets.
Beyond his business achievements, D’Aniello is also recognized for his philanthropy and support of higher education. He and his wife have donated substantial amounts to universities and educational initiatives, particularly Catholic and business-focused institutions. His success highlights Northern Virginia’s close connection to finance, government, and investment networks centered around Washington, D.C. As one of Virginia’s leading billionaires, D’Aniello represents the growing influence of private equity in shaping modern wealth and corporate ownership.
Winifred J. Marquart
Winifred J. Marquart ranks #325 on the Forbes 400 list with an estimated net worth of $4.7 billion. At 66 years old, her fortune comes from the cleaning products industry. She is associated with the family behind Marcal and related paper and household product businesses, sectors that have remained essential to consumers for decades. The cleaning and household goods market experienced especially strong visibility during recent years as demand for sanitation and disposable products increased worldwide.
Marquart’s wealth underscores how consumer staples businesses can quietly generate enormous long-term value. While technology and finance billionaires often dominate headlines, industries centered on everyday necessities continue to produce lasting fortunes. Her business background also reflects the importance of manufacturing and distribution networks that keep household products available nationwide. As one of Virginia’s wealthiest residents, Marquart demonstrates the economic strength that can come from stable, high-demand consumer industries.
William Conway Jr.
William Conway Jr., ranked #334 on the Forbes 400 with a net worth of $4.6 billion, is another major figure in private equity. At 76 years old, he is also a co-founder of The Carlyle Group alongside Daniel D’Aniello. Conway helped transform Carlyle into one of the most influential investment firms in the world, with holdings across numerous industries and international markets. His career in finance spans decades of acquisitions, restructuring deals, and strategic investments that contributed significantly to his billionaire status.
Conway is equally known for his charitable giving, particularly in education and healthcare. He has donated hundreds of millions of dollars to nursing schools, medical programs, and universities, aiming to reduce student debt and strengthen healthcare systems. His philanthropy has had a major impact across multiple states, including Virginia. Conway’s story reflects how the Washington, D.C.–Northern Virginia region has evolved into a major center for finance and investment leadership, producing several of the nation’s wealthiest individuals.
