MINNESOTA
POPULATION: 5.6 MILLION
2017 GROSS STATE PRODUCT: $351 BILLION (1.9% GROWTH) GSP PER CAPITA: $62,962
(RANKS NO. 14 NATIONWIDE) NUMBER OF BILLIONAIRES: 4
RICHEST: GLEN TAYLOR
NET WORTH: $2.7 BILLION
EVEN BEFORE THE NBA season started, Glen Taylor’s Minnesota Timberwolves were already in trouble. Their star player Jimmy Butler wanted out after just one season. They considered trading him but hadn’t pulled the trigger by the time the season began last month—reviving criticism of Taylor and his management of the team, which went a record 13 years before finally making the playoffs in 2018.
Timberwolves legend Kevin Garnett went so far as to declare on national TV that Taylor “doesn’t know anything about basketball.” Taylor’s response? “I don’t know why [Garnett] says things like that, but I just let him kind of blow past me.”
The Timberwolves are the most high-profile piece of the Midwesterner’s expansive portfolio, which includes the Minnesota Lynx women’s basketball team, the Minneapolis Star-Tribune and plenty of farmland. Taylor, 77, made his fortune in printing. He worked at Carlson Wedding Service in college before helping create its stationery division, turning it into a wholesaler and ultimately buying the company for $2 million in 1975 ($10 million today). Taylor Corp. is now worth 94 times that, bringing in $2.2 billion in annual revenue.