Though often overshadowed by wealthier neighboring states, Alabama is home to a number of powerful and wealthy individuals who have made their mark in banking, construction, healthcare, timber, and sports. Cities like Birmingham, Huntsville, and Montgomery are key hubs for economic activity and legacy wealth.
Here are the Top 10 Richest People in Alabama in 2025, based on Forbes estimates, local business data, and public financial disclosures.
1. Jimmy Rane – $1.6 Billion
Source of Wealth: Lumber (Great Southern Wood Preserving)
Residence: Abbeville, AL
Known as the “Yella Fella,” Jimmy Rane is Alabama’s richest resident. He founded Great Southern Wood, one of the largest wood-treatment companies in the U.S., and has expanded it into a nationwide business. He’s also a prominent philanthropist, especially in rural education.
2. James Stephens – $1.2 Billion
Source of Wealth: Investments (EBSCO Industries)
Residence: Birmingham, AL
James Stephens is the former CEO and chairman of EBSCO Industries, a private conglomerate involved in publishing, information services, and manufacturing. His wealth also stems from extensive investments in real estate and private equity.
3. Marguerite Harbert (Estate) – $900 Million
Source of Wealth: Construction, Inheritance (Harbert Corp.)
Residence: Birmingham, AL (legacy)
Though she passed in 2015, Marguerite Harbert’s estate and trusts still control substantial assets tied to the Harbert family fortune, originally built through global construction and investment ventures.
4. Jon D. Foshee – $800 Million
Source of Wealth: Industrial Supplies (Industrial Products Group)
Residence: Mobile, AL
Foshee made his fortune by consolidating industrial equipment and marine supply companies across the Gulf Coast, serving defense and oil clients. His holdings extend into logistics and port infrastructure.
5. Elton Stephens Jr. – $760 Million
Source of Wealth: Publishing, Information Systems (EBSCO)
Residence: Birmingham, AL
The Stephens family continues to manage EBSCO Industries, and Elton Jr., James Stephens’ brother, retains major ownership. The company remains a powerhouse in global information services and library platforms.
6. Lilly Ledbetter (Trust Wealth & Advocacy) – $710 Million
Source of Wealth: Trust Funds, Advocacy Consulting
Residence: Jacksonville, AL
Best known for her role in the Equal Pay Act, Ledbetter has parlayed her family’s land and mineral rights into profitable trust holdings and now oversees philanthropic initiatives and business advocacy consulting.
7. Paul W. Bryant Jr. – $690 Million
Source of Wealth: Insurance, Investments (Greene Group)
Residence: Tuscaloosa, AL
Son of legendary Alabama football coach Bear Bryant, Paul Bryant Jr. built wealth through Greene Group, involved in insurance, media, and dog racing. He holds significant influence over University of Alabama athletics and local politics.
8. Drayton Nabers Jr. – $600 Million
Source of Wealth: Law, Insurance (Protective Life), Public Service
Residence: Birmingham, AL
A former CEO of Protective Life and Alabama Supreme Court Chief Justice, Nabers has long invested in insurance, law firms, and civic institutions, building generational wealth and regional influence.
9. Sheldon Layton – $560 Million
Source of Wealth: Banking, Construction (Layton Companies)
Residence: Huntsville, AL
Layton holds substantial real estate and infrastructure assets in northern Alabama, thanks to the region’s growth in aerospace, tech, and military contracts centered around Redstone Arsenal.
10. Artur Davis (Consulting & Holdings) – $500 Million
Source of Wealth: Law, Corporate Consulting
Residence: Montgomery, AL
A former U.S. Congressman turned lawyer and investor, Davis now runs a private consulting firm that advises corporations on law, strategy, and regulation across Southern states, including influential stakes in urban development projects.
Summary Table
| Rank | Name | Net Worth (2025) | Source of Wealth | Residence |
|---|---|---|---|---|
| 1 | Jimmy Rane | $1.4B | Lumber | Abbeville |
| 2 | James Stephens | $1.2B | Investments (EBSCO) | Birmingham |
| 3 | Marguerite Harbert (Estate) | $900M | Construction (Harbert) | Birmingham |
| 4 | Jon D. Foshee | $800M | Industrial Supplies | Mobile |
| 5 | Elton Stephens Jr. | $760M | Publishing (EBSCO) | Birmingham |
| 6 | Lilly Ledbetter | $710M | Trust Holdings | Jacksonville |
| 7 | Paul W. Bryant Jr. | $690M | Insurance, Media | Tuscaloosa |
| 8 | Drayton Nabers Jr. | $600M | Insurance, Law | Birmingham |
| 9 | Sheldon Layton | $560M | Banking, Real Estate | Huntsville |
| 10 | Artur Davis | $500M | Consulting, Politics | Montgomery |
Final Thoughts
Alabama’s wealthiest individuals represent a mix of legacy wealth, industrial strength, political connections, and modern entrepreneurship. While much of the state’s top-tier wealth is rooted in Birmingham, regions like Huntsville and Mobile are quickly rising due to tech and defense industry growth.
