Ron Offut Net Worth

What is Ron Offutt's Net Worth?

Ron Offutt is an American agricultural entrepreneur and businessman who has a net worth of $500 million. A longtime farmer, Ron Offutt grew his fortune in agribusiness production and distribution, becoming especially successful as one of the top producers and suppliers of potatoes in the United States. He is the founder of the R.D. Offutt Company and RDO Equipment Co., the latter of which is among the largest John Deere dealerships in the country. Ron Offutt has at times been the richest person in North Dakota.

Early Life and Education

Ron Offutt was born in 1942 in Moorhead, Minnesota into a family with strong agricultural roots dating back to the late 17th century. His father Ron Sr., a part-time potato farmer, provided him with early exposure to farming operations, and his rural upbringing in the Red River Valley further shaped his passion for agriculture. After attending Moorhead High School, where he excelled in football and wrestling, Offutt went to Concordia College, from which he earned a degree in economics in 1964. During his college years, he continued to be involved in farming with his father, gradually transitioning from his father's assistant to taking on greater responsibilities and eventually managing farming operations himself.

Career

In 1968, after years of working on the family farm with his father, Offutt mortgaged a piece of family land to purchase a John Deere dealership in Casselton, North Dakota. However, displeased with the demands of running a store, he eventually returned to farming and focused particularly on potatoes. Offutt built a business model that encompassed everything from planting and harvesting to processing and distribution, resulting in the founding of the R.D. Offutt Company. What began as a 200-acre potato farm in the 1960s expanded into a massive enterprise spanning over 190,000 acres of farmland across multiple states and countries. A pivotal partnership came when Offutt became a key supplier for the J.R. Simplot Company, one of the world's largest processors of frozen potato products and a major supplier for McDonald's. The R.D. Offutt Company has also been a top supplier of spuds to Ore-Ida, Northern Star, and Lamb-Weston. In the 1990s and into the 2000s, Offutt was often called the "Potato King" due to his control over a substantial portion of potato production in the US.

In addition to his farming operations, Offutt grew his agribusiness empire through equipment dealerships, food processing, irrigation solutions, and real estate. He founded RDO Equipment Co., which went on to become one of the largest John Deere construction and agricultural equipment dealerships in the US and one of the largest farm equipment companies in North America. Its operations encompass over 100 locations in multiple states as well as partnerships in other countries. RDO Equipment Co. offers products and services from such top brands as John Deere, Vermeer, WIRTGEN, and STIHL.

Philanthropy

Offutt has contributed significantly to philanthropy through his support of educational institutions, local development projects, and agricultural research initiatives. He is a major benefactor of his alma mater Concordia College, where he established a scholarship and became the namesake of the Offutt School of Business. Offutt also served as national co-chair of the Centennial Fund Campaign, the 21st Century Fund Campaign, and the Campaign for Concordia, and chaired the Board of Regents.

Personal Life

Offutt is known as a private individual who has preferred to keep his personal life largely out of the spotlight. He has some children with his wife Karen, including Christi and Keith, both of whom have been involved with the R.D. Offutt Company and its affiliated operations. Offutt's grandson is NFL player Connor McGovern.

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