An American entrepreneur named Dennis Albaugh has a net worth of $1.5 billion.
Dennis Albaugh holds the title of the richest man in Iowa.
Dennis Albaugh, a native of Ankeny, Iowa, had no interest in working for his family’s farm business and instead chose to pursue agricultural business at Des Moines Area Community College.
Following his graduation, he ventured overseas for seven years to sell fertilizer and seeds.
In 1979, he departed from sales to launch Albaugh, Inc., a fertilizer-focused business. He took on the responsibility of mortgaging his house and attempting to establish a clientele.
His first year was a total fiasco, and he struggled in the beginning of the 80s, barely making a profit.
He started selling Roundup, the herbicide made by Monsanto, which contains glyphosate, in the late 80s.
After the chemical patent lapsed in the US, he procured factories in Argentina and Brazil to keep producing it.
He has been expanding his business and is also acquiring farmland in his home state.
