As of November 2025, the richest person in Iowa is Harry Stine, a billionaire businessman and entrepreneur who has amassed a net worth of $9 billion.
Harry Stine
Harry Stine was raised in Dallas County, Iowa, and graduated from McPherson College. In 1964, he joined his father’s soybean cleaning business, marking the start of a career in agriculture that would transform him into one of the nation’s wealthiest individuals.
Stine is the founder and owner of The Stine Seed Group, the largest private seed company in the United States. His operations span 15,000 acres of farmland in rural Adel, Iowa, where the company focuses on soybean genetics, corn, and biotechnology. Stine pioneered private soybean research in the 1960s, patented key technologies in the 1990s, and continues to earn millions in annual royalties.
He launched his first soybean seed label, Stine Soybean Seeds, in 1979 and expanded into corn and soft red winter wheat by 1992. Today, Stine’s company accounts for 60% of all U.S. soybean acreage. Beyond business, he is a philanthropist, donating to the Mayo Clinic and his alma mater, McPherson College.
Dennis Albaugh
The second wealthiest person in Iowa is Dennis Albaugh, with a net worth of $1.5 billion. Albaugh is the founder of Albaugh, LLC, one of the world’s largest privately-owned agricultural chemical companies. He built his empire by producing generic versions of widely used farm chemicals, including glyphosate, the active ingredient in Monsanto’s Roundup.
Born in 1949 in Ankeny, Iowa, Albaugh grew up in a middle-class family and developed an early appreciation for agriculture. In 1979, he founded Albaugh, Inc., which evolved into a global competitor with operations across North and South America and Europe. His business strategy focused on affordable alternatives to brand-name pesticides, earning him billionaire status and a spot on Forbes’ list of billionaires.
Albaugh is also known for his passion for classic cars, owning one of the largest privately-owned collections of Chevrolet convertibles in the world, with over 150 meticulously restored vehicles. He is a real estate investor, owning the Talons of Tuscany golf course and multiple luxury properties in Iowa.
Despite his immense wealth, Albaugh remains rooted in Iowa, living in Ankeny with his wife and two daughters. He is also active in philanthropy, supporting local schools, scholarships, and community initiatives.
Legacy of Iowa’s Wealthiest
Both Harry Stine and Dennis Albaugh exemplify Midwestern entrepreneurship. From seed innovation to agricultural chemicals, their businesses have shaped the U.S. farming industry while creating vast personal fortunes. Their influence extends beyond business, leaving a mark through philanthropy, community engagement, and, in Albaugh’s case, a celebrated cultural collection of classic cars.
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