As of March 2026, the richest person in the U.S. state of Iowa is businessman and entrepreneur Harry Stine, with an estimated net worth of $9 billion. Stine built his fortune in the agricultural biotechnology industry and is the founder of one of the largest private seed companies in the United States.
Another prominent billionaire from Iowa is Dennis Albaugh, who has an estimated net worth of $1.5 billion. Albaugh made his wealth through agricultural chemicals and is widely known for building a global crop-protection company.
Below is a closer look at the two Richest People in Iowa and how they built their fortunes.
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Harry Stine Net Worth
Harry Stine is an American entrepreneur with an estimated net worth of $9 billion. He is best known as the founder and owner of the Stine Seed Company, the largest privately held seed company in the United States.
Early Life and Education
Harry Stine was raised in Dallas County, Iowa, where he developed an early connection to agriculture. He later attended McPherson College, where he completed his studies before returning to Iowa to work in the family business.
In 1964, Stine joined his father’s soybean cleaning business. The experience exposed him to the seed industry and sparked his interest in agricultural research and plant genetics.
Building a Seed Empire
During the 1960s, Stine began focusing on soybean genetics, a field that was still developing at the time. His research eventually led him to create innovative seed technologies that significantly improved crop yields.
He later founded a research company called Improved Variety Research, which became the first private soybean research and development company in the United States. His work helped transform soybean production and laid the foundation for his business empire.
In 1979, Stine began selling soybean seeds under the Stine Soybean Seeds brand. The company grew steadily as farmers adopted the improved seeds.
By 1992, the company expanded into corn and soft red winter wheat, further strengthening its position in the seed market.
Today, the company operates thousands of acres of research farmland near Adel, Iowa, where large-scale crop testing takes place across roughly 15,000 acres.
Biotechnology and Royalties
Stine’s wealth increased significantly after he patented soybean technologies in the early 1990s. These innovations allowed other agricultural companies to license his technology.
As a result, Stine earns millions of dollars annually in royalties from companies that use his seed genetics.
His company’s influence is enormous in the U.S. farming sector. Stine-developed genetics are believed to be used in around 60% of all soybean acreage in the United States, making his company a central force in American agriculture.
Professional Memberships and Philanthropy
Harry Stine is also active in professional agricultural organizations, including:
- American Society of Agronomy
- American Seed Trade Association
Beyond business, Stine is known for his philanthropic contributions. He has supported several institutions, including the Mayo Clinic and his alma mater, McPherson College.
His innovations in seed genetics and biotechnology have helped shape modern agriculture and cemented his status as Iowa’s wealthiest individual.
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Dennis Albaugh Net Worth
Dennis Albaugh has an estimated net worth of $1.5 billion, making him one of the richest people in Iowa.
He is best known as the founder of Albaugh LLC, one of the largest privately owned agricultural chemical companies in the world.
Early Life
Dennis Albaugh was born in 1949 in Ankeny, Iowa, a suburb of Des Moines.
He grew up in a middle-class family and developed an early understanding of agriculture while living in Iowa’s farming region.
After graduating from Ankeny High School, Albaugh worked various jobs before eventually entering the agricultural services industry.
Building a Global Agricultural Company
In 1979, Albaugh founded Albaugh, Inc., which later became Albaugh LLC. The company focused on supplying crop-protection chemicals to farmers.
Albaugh recognized an opportunity in producing generic versions of widely used agricultural chemicals, which were significantly cheaper than branded products.
One of the key chemicals his company specialized in was glyphosate, the main ingredient in Roundup, originally developed by Monsanto.
After Monsanto’s patent expired, Albaugh began producing his own glyphosate products at lower prices. This strategy allowed the company to expand rapidly and compete with global agricultural giants.
Over time, Albaugh built a global network of operations across:
- North America
- South America
- Europe
His company now competes with major agrochemical firms such as Syngenta.
Other Business Ventures
Beyond agriculture, Albaugh has invested heavily in real estate. One of his most notable projects is the Talons of Tuscany golf course in Ankeny, which he developed into both a championship golf destination and a luxury residential community.
He also owns farmland and commercial properties throughout Iowa.
Famous Car Collection
Albaugh is also widely known for his extraordinary collection of classic cars.
He owns one of the largest collections of Chevrolet convertibles in the world, with more than 150 vehicles dating from 1912 through 1975. The collection includes rare models such as:
- Corvettes
- Bel Airs
- Impalas
The vehicles are displayed in a large private showroom in Ankeny and attract interest from car enthusiasts across the country.
Philanthropy
Albaugh has contributed to numerous community and charitable initiatives in Iowa. His donations support:
- Local schools
- Medical programs
- Community development projects
He has also funded scholarships and various initiatives aimed at improving opportunities for Iowa residents.
Personal Life
Dennis Albaugh is married and has two daughters. Despite his billionaire status, he continues to live in his hometown of Ankeny, Iowa, rather than relocating to a larger financial hub.
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