Rhode Island, the smallest U.S. state by land area, is home to a surprising number of ultra-wealthy individuals. Its scenic coastlines, historic mansions, and proximity to Boston and New York attract some of the region’s wealthiest residents, particularly in Newport and Providence.
Here are the Top 10 Richest People in Rhode Island in 2025, based on data from Forbes, Bloomberg, SEC filings, and local business publications.
1. Jonathan Nelson – $2.5 Billion
Source of Wealth: Private Equity (Providence Equity Partners)
Residence: Providence, RI
Nelson is the founder of Providence Equity Partners, a global private equity firm managing over $30 billion in assets. He is the wealthiest Rhode Island native and an influential figure in global finance and philanthropy.
2. Elizabeth “Liz” Beretta-Perik – $1.3 Billion
Source of Wealth: CVS Health (Inherited Shares, Investments)
Residence: Barrington, RI
A CVS heiress and investor, Beretta-Perik is a major shareholder in CVS Health, one of the state’s largest employers. She is also active in local charity boards and arts foundations.
3. Arnold “Buff” Chace Jr. – $1.1 Billion
Source of Wealth: Real Estate (Cornish Associates, Urban Redevelopment)
Residence: Providence, RI
Chace is known for revitalizing downtown Providence through large-scale real estate projects. His family’s wealth stretches back generations, with major holdings in real estate, manufacturing, and infrastructure.
4. William Gilbane Jr. & Family – $950 Million
Source of Wealth: Gilbane Inc. (Construction, Real Estate)
Residence: East Greenwich, RI
Gilbane Inc. is one of the largest privately held construction and real estate firms in the U.S. The Gilbane family continues to play a central role in regional development and national infrastructure projects.
5. Terry Murray – $800 Million
Source of Wealth: Health Care, Corporate Leadership (CVS Health)
Residence: Warwick, RI
A former CEO of CVS Health, Murray helped steer the company through aggressive expansion in the 1990s and early 2000s. His leadership and equity holdings cemented his place among RI’s wealthiest.
6. Alan Hassenfeld – $750 Million
Source of Wealth: Hasbro Inc. (Toys & Entertainment)
Residence: Bristol, RI
Hassenfeld is the former CEO and chairman of Hasbro, the multinational toy company headquartered in Pawtucket. He is known for extensive philanthropic work in education, healthcare, and global development.
7. Nicolas P. Mattiello – $600 Million
Source of Wealth: Law, Real Estate Holdings, Investments
Residence: Cranston, RI
While best known as a former Speaker of the Rhode Island House, Mattiello also controls significant real estate and legal assets. He’s one of the state’s most politically connected and wealthy figures.
8. Cheryl Merchant – $550 Million
Source of Wealth: Manufacturing (Taco Comfort Solutions)
Residence: Cranston, RI
CEO of Taco Comfort Solutions, Merchant has grown the HVAC manufacturing firm into a global brand. Her stake in the company and industrial partnerships have made her one of the top female executives in New England.
9. Mark Gallogly – $520 Million
Source of Wealth: Private Equity (Centerbridge Partners)
Residence: Newport, RI
Gallogly, co-founder of Centerbridge Partners, a prominent investment firm, has relocated part-time to Newport. He’s also a climate finance advisor to global governments and UN bodies.
10. Richard Bready – $480 Million
Source of Wealth: Nortek Inc. (Home Technology)
Residence: Newport, RI
Bready is the former chairman and CEO of Nortek, a manufacturer of home technology and building systems. He is a leading figure in Newport’s luxury real estate and yacht communities.
Summary Table
| Rank | Name | Net Worth (2025) | Source of Wealth | Residence |
|---|---|---|---|---|
| 1 | Jonathan Nelson | $2.5B | Providence Equity | Providence |
| 2 | Liz Beretta-Perik | $1.3B | CVS Health | Barrington |
| 3 | Buff Chace Jr. | $1.1B | Real Estate | Providence |
| 4 | Gilbane Family | $950M | Construction | East Greenwich |
| 5 | Terry Murray | $800M | CVS Health | Warwick |
| 6 | Alan Hassenfeld | $750M | Hasbro | Bristol |
| 7 | Nicolas Mattiello | $600M | Law & Real Estate | Cranston |
| 8 | Cheryl Merchant | $550M | Manufacturing | Cranston |
| 9 | Mark Gallogly | $520M | Centerbridge PE | Newport |
| 10 | Richard Bready | $480M | Home Tech (Nortek) | Newport |
Final Thoughts
While not as populated as neighboring states, Rhode Island’s billionaires and ultra-wealthy residents contribute significantly to finance, real estate, healthcare, and manufacturing. Their influence spans from Wall Street to Main Street, shaping policy, philanthropy, and innovation across the Ocean State.
