Ranked: The Richest Veterans in America

The U.S is home to 724 billionaires, many of whom have taken on immense risks in the financial world. 16 of these wealthy individuals have also taken on the risks that come with serving in the U.S. military.

These veteran billionaires are worth a collective $81.4 billion and have served in posts ranging from Reserve Officers’ Training Corps (ROTC) to infantrymen in the Second World War. This visual, using data from Forbes, ranks the richest living American veterans.

This visual categorizes the individuals by either the military branch or war served in depending on what was applicable or determinable.

I Want You for the U.S. Army

According to the Department of Veteran’s Affairs, there are around 18 million veterans in the U.S. Of these 18 million, less than 0.01% can claim the title of billionaire.

Six of the above veteran billionaires served in WWII. They are some of the last surviving veterans of the historic war which was fought by 16 million Americans—today, only around 325,000 WWII veterans are still alive.

George Joseph, of Mercury Insurance Group, piloted a B17 Bomber plane in WWII, and completed around 50 missions. Warren Buffett’s business partner at Berkshire Hathaway, Charlie Munger, served in the Army Air Corps in the early 1940s.

Richard Kinder (Kinder Morgan Inc.), Fred Smith (FedEx), and H. Ross Perot Jr. (Hillwood Investment Properties) each served in the Vietnam war.

One notable figure, Ralph Lauren, whose name is synonymous with his clothing products, served in the Army branch for two years in the early 1960s.

Taking on Financial Risk

Billionaire wealth continues to grow in America. Most of these veteran billionaires saw their net worths increase from 2020 to 2021, as, typically, wealth begets wealth. Here’s a look at the changes in net worth of the top five richest veterans who experienced increases:

• Edward Johnson III: +$4.9 Billion
• Ralph Lauren: +$1.4 Billion
• Richard Kinder: +$1.8 Billion
• Charles Dolan & Family: +$1.5 Billion
• Fred Smith: +$3.0 Billion

The majority of these veteran billionaires are in the finance industry and some are tied to well-known companies, but they didn’t always have billions on hand to help them exponentially grow their fortunes.

David Murdock was a high school dropout, and after serving in WWII, had no money to his name. He took over a failing company called Dole, and eventually gained the moniker of ‘pineapple king’ after reviving the business.

S. Daniel Abraham, who was an infantryman in WWII, went on to found Thompson Medical. Their main product was Slimfast, which he later sold to Unilever for $2.3 billion in cash in the early 2000s.

Bob Parsons, who received a Purple Heart for his service in Vietnam, started out his professional career as a CPA. He later founded the enormous domain giant, Go Daddy. He has claimed that his time in the military helped him succeed in business.

Peace and Prosperity

We currently live in one of the most peaceful and prosperous times in history, with wars like WWII feeling to many like a story from the past — but for others these conflicts were defining moments for their generation.

While many veterans struggle to readjust to civilian life, on average pre-9/11 veterans have reported fewer difficulties compared to post-9/11 veterans, and some have even managed to reach the highest levels of financial success.

How Powerful is Your Passport in a Post-Pandemic World?

With COVID-19 cases falling in many parts of the world and vaccination programs ramping up at warp speed, international travel no longer seems like a distant dream.

The Henley Passport Index, which has been regularly monitoring the world’s most travel-friendly passports since 2006, has released its latest rankings and analysis.

The most recent data provides insight into what travel freedom will look like in a post-pandemic world as countries selectively begin to open their borders to international visitors.

Prominent Countries Still Holding Strong

The rankings are based on the visa-free score of a particular country. A visa-free score refers to the number of countries that a passport holder can visit without a visa, with a visa on arrival, or by obtaining an electronic travel authorization (ETA).

Without considering the constantly changing COVID-19 restrictions, Japan firmly holds its position as the country with the strongest passport for the 4th year in a row.

This positioning is based on exclusive data from the International Air Transport Association (IATA)—with Japanese passport holders theoretically able to access a record 193 destinations from around the world visa-free.

The last time Japan didn’t hold the number one position was back in 2017, when it shared the 5th spot with countries like the United States, New Zealand, and Switzerland.

Singapore remains in 2nd place, with a visa-free score of 192, while Germany and South Korea again share joint-3rd place, each with access to 191 destinations.

Throughout the 16-year history of the Henley Index, EU countries have maintained a dominant position in the passport strength reports. Finland, Italy, Luxembourg and Spain all hold the 4th position while Austria and Denmark round up the top 5 with a visa-free score of 189.

The United States and the United Kingdom jointly share the 7th position with a visa-free score of 187 destinations. Canada, Mexico and Brazil hold the 9th, 23rd and 17th positions respectively, with Brazil experiencing a significant jump of eight places over the last 10 years.

Editor’s note: Visit the Henley Passport Index site for a full list and ranking of all countries around the world.

The Countries With The Least Travel Freedom

Afghanistan continues to be the country with the least amount of travel freedom, coming in last place (110th rank) with a visa-free score of 26 destinations. Iraq, Syria, Pakistan and Yemen have access to slightly more visa-free travel, but still linger at the bottom of the overall ranking.

The latest report indicates that the gap in travel freedom is now at its largest since the index began in 2006. Japanese passport holders can access 167 more destinations than citizens of Afghanistan, who can visit only 26.

The Biggest Gainers In a Decade

Over time, small annual moves in the Henley Passport Index can make a big impact—and in the last decade, countries like China and the UAE have been the biggest movers:

China has risen by 22 places in the ranking since 2011 by going from a visa-free/visa-on-arrival score of 40 destinations to now 77.

The most remarkable turnaround story on the index by far, however, is the UAE. In 2011, the UAE was ranked 65th with a visa-free score of 67 destinations. Today, thanks to the Emirates’ ongoing efforts to strengthen diplomatic ties with countries across the globe, it is now ranked 15th with a remarkable visa-free score of 174 destinations.