⬅ # 345 Wu Yajun|# 347 Arthur Blank

# 346 Dennis Washington 

$8.06B

Real Time Net Worth
as of 5/18/2024
$36.2M (0.45%)

# 346 Dennis Washington 

$8.06B

Real Time Net Worth
as of 5/18/2024
$36.2M (0.45%)
OccupationFounder, The Washington Companies
Source of WealthConstruction, Mining
Age89
ResidenceMissoula, Montana
Marital StatusMarried
Children2
EducationDiploma, High School
Age-Adjusted Net Worth$1.13B
Dennis Washington
Dennis Washington
United States
Net worth: $8.06B

Self-Made Score 

Wealth History

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Biography

Overview

Dennis R. Washington, born in 1934, is an American billionaire industrialist.
He grew up in Spokane, Bremerton, Washington, and Missoula, Montana, after his parents' separation.
Motivated by his parents' divorce, he aimed to provide a stable family environment for his own wife and children.
Washington started his business career at age 30 in 1964 with a $30,000 loan and a single bulldozer, establishing Washington Construction.
He ventured into mining and dam construction in the 1970s, and in 1986 acquired a profitable copper and molybdenum mine at Butte, Montana.
This success enabled diversification into railroads, marine services, coastal shipping, aviation, and real estate.

Career Highlights

In 1996, Washington Construction acquired Morrison-Knudsen Corporation, a global construction and engineering company, forming Washington Group International.
His diversified business group, the Washington Companies, comprises privately held companies headquartered in the United States and western Canada, with international operations.
Notable holdings include Seaspan ULC, Montana Rail Link, Aviation Partners Inc., Envirocon Inc., Southern Railway of British Columbia, Modern Machinery Co. Inc., and Montana Resources LLP.
He also has a stake in Seaspan Corporation, a leading independent containership owner.
Washington's entrepreneurial journey began with highway contracts, leading him to become Montana's largest contractor by 1969.
Over the years, he expanded into various industries including mining, railroads, marine transportation, aviation, and real estate.

Personal Life and Assets

Dennis Washington is married to Phyllis and resides in Missoula, Montana.
His son, Kyle Washington, serves as co-chairman of Seaspan Marine Corporation.
He owns a private estate on Stuart Island, British Columbia, featuring a fishing lodge and golf course.
The Washington–Grizzly Stadium at the University of Montana is named in his honor.
His private yacht, Attessa IV, and Boeing Business Jet, 737-700, reflect his affluent lifestyle and interests.

How long would it take you to become as rich as Dennis Washington?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Dennis Washington's net worth of $8.06B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.76% compared to 11.89% for the S&P 500 benchmark.

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Dennis Washington is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Dennis Washington, Construction and Mining are the primary sources. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey