- Category:
- Richest Business › Executives
- Net Worth:
- $1.5 Billion
What is Dennis Albaugh's Net Worth?
Dennis Albaugh is an American businessman who has a net worth of $1.5 billion dollars. Dennis Albaugh is the richest person in Iowa. Born in Ankeny, Iowa, Dennis Albaugh had zero interest in joining his family's farm business, and instead went to Des Moines Area Community College to focus on agricultural business. After graduating, he focused on fertilizer and seed sales, traveling all over the country for seven years. In 1979, he left sales to focus on opening his own company, Albaugh, Inc., with a focus on fertilizer.
After mortgaging his house, he set out to build a client base. His inaugural year was a complete disaster, and he struggled throughout the early 80s, just barely breaking even. In the late 80s, he began selling glyphosate, the primary ingredient in the herbicide, Roundup, made by Monsanto. When the patent for the chemical ended in the US, he bought factories in Argentina and Brazil to continue manufacturing it. His business has continued to expand, and he is also developing farmland in his home state.
