Philip Anschutz

Oil and land created the first large pool of capital

Anschutz grew up around his father's oil and land ventures and entered the family business after graduating from the University of Kansas. That background supplied meaningful industry experience and an operating base, so his path did not begin from the same position as a founder without family capital. ^[2][1]

He expanded the family's energy and land holdings and built large gains in oil, creating the capital base for a much broader investment strategy. Forbes describes the resulting fortune as the product of more than five decades of activity across energy and multiple other industries. ^[1][2]

Anschutz later made major investments in railroads and telecommunications, using transactions and restructurings to move capital into new sectors. The pattern was repeated redeployment rather than dependence on a single operating company or one inherited property. ^[1][2]

Sports and entertainment became a second private-company empire

Through Anschutz Entertainment Group, he accumulated arenas, concert venues and sports-team interests, including control of the Los Angeles Kings and a stake in the Los Angeles Galaxy. These businesses created a durable entertainment and real-estate platform alongside his earlier energy wealth. ^[1]

Anschutz therefore fits between inheritance and from-scratch entrepreneurship: family energy assets and industry access mattered, but the scale and diversification of the eventual fortune reflect decades of acquisitions, capital allocation and private-company ownership far beyond the original family business. ^[1][2]