Business/Economy

These two real estate developers are the richest people in Alaska

Two real estate moguls now hold the mantle of Alaska's wealthiest individuals, at least according to an annual Forbes list of the richest residents in every state.

Jonathan Rubini and Leonard Hyde, the CEO and president of Anchorage real estate firm JL Properties, respectively, are each worth $350 million, according to the magazine. Their fortunes come in the form of "commercial properties, hotels and military housing, largely in Alaska but also in Utah, Georgia and Florida."

Rubini and Hyde rose to the top in 2016 after last year's list ranked money manager Robert Gillam as No. 1 in Alaska, with a net worth of $320 million.

Even with millions of dollars amassed, Rubini and Hyde still pale in comparison to those in other states: Alaska, according to Forbes, had the smallest top fortune for the second year in a row, and is one of six states with no billionaires.

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