Kansas University Donation

[FarmerCy1]

Albaughs, Sukups, and Reimanns?

Throw in Richard Stark and to a lesser extent Bob Van Diest to that group

 

[Cyowa 14]

those are not very good lists. that's just famous people, at best.

there are thousands of people in Iowa with net worth of $5M+, maybe tens of thousands

Nailed it. As an example, my grandfather owns 1,000 acres of farm ground, which is a small operation now a days, free and clear. I'm not good at math but 1,000 x $10,000 an acre, which is beyond conservative, is $10 million in land alone. I feel comfortable in saying the number of people in Iowa with a net worth of at least $5 million is in the thousands.

 

[CyclonesRock]

Nailed it. As an example, my grandfather owns 1,000 acres of farm ground, which is a small operation now a days, free and clear. I'm not good at math but 1,000 x $10,000 an acre, which is beyond conservative, is $10 million in land alone. I feel comfortable in saying the number of people in Iowa with a net worth of at least $5 million is in the thousands.

Asset Rich...Cash Poor.

 

[iowastatefan1929]

Wall st livin the high life buying every last thing up. I hope the market crashes and wipes them all out.

 

[NWICY]

Probably a few dozen families in my neighborhood have a net worth over $5 million.

This folks is how you not so humble brag.

 

[NWICY]

Throw in Richard Stark and to a lesser extent Bob Van Diest to that group

The one Van Diest girl went to ISU around my time frame. Never even met her opportunity lost.

 

[Turn2]

Asset Rich...Cash Poor.

Also, those are by and large the people who would never donate a dime outside their community.

 

[Billups06]

Also, those are by and large the people who would never donate a dime outside their community.

...and those that also have zero interest in athletics.

 

[cyfanatic13]

Next time the lotto starts getting up into the billions, CF pool?!

 

[VeloClone]

Harry Stine is the richest man in Iowa. How much he gives to ISU? No idea

My kids loved his Goosebumps books...

 

[ForbinsAscynt]

Barf. I don’t care how rich you are giving 300 million to college athletics is absurd. That’s an enormous amount of money that could do actual good. And then to act in his press release like he’s done something charitable. Give me a break.

Yes I hope ISU turns down 300 million of they ever have the chance.
Cmon, you’d be over the moon if this happened to ISU. The Cowboys are worth 13 billion, why don’t you petition Jerry Jones to give more to charity.

 

[crazedstatw]

The rich people in Iowa discussion is interesting I guess, but I think the more interesting thing here is that even after $500 million of investment and huge private donations, I still don’t think I’d trade Jack Trice Stadium + CyTown + the tailgating lots for Booth Stadium + Gateway District + Kansas tailgating lots. Credit to Jamie for making magic without a ton of rich people money.

 

[benman82]

Krause just sold kum & go for billions and he blows outrageous amounts of money on soccer between the DSM Menace and Parma FC. Don't think he cares about college sports though, and it's way different owning a team vs just giving away money.

Maybe Iowa State should start selling off equity stakes in the football team a la Barcelona / Real Madrid / the GB Packers.

Like give fans who "own" a share some sort of vote on stuff like beer in the stadium or like which concession items to bring in or something.

 

[Sigmapolis]

This folks is how you not so humble brag.

Just sayin'. Lotta doctors, attorneys, car dealership owners, real estate developers, and high-profile real estate agents in the immediate area with homes (according to Zillow) that can make up a significant chunk of the $5 million threshold here. I'm not there yet but... probably will be by the time I'm 60.

I don't doubt some of the other Des Moines suburbs (especially Ankeny and West Des Moines) have similar enclaves. I would imagine Ames and the wealthier Cedar Rapids and Iowa City suburbs do, too.

Putting my ISU education to good use making money and marrying a doctor.

 

[CYDJ]

$5million is enough to be the 9th and 10th richest people in the state? I'm not buying that.

$5 million liquid is a good amount of money. BUT, I'm thinking there are more than a few people on this board that are in that spot right now. Add in Land and it could be many. IMHO, that amount doesn't put you ANYWHERE near the top 100 people in the state.

 

[Heathrow06]

One link says he donates to McPherson College....

"Stine is a generous donor to his alma mater, McPherson College, and the Mayo Clinic."

Yes Stine is a great friend of Mayo. I believe he’s donated to Drake as well.

 

[Letterkenny]

$5 million liquid is a good amount of money. BUT, I'm thinking there are more than a few people on this board that are in that spot right now. Add in Land and it could be many. IMHO, that amount doesn't put you ANYWHERE near the top 100 people in the state.

Yeah, $5 mill liquid is a whole other ball game from $5mill net worth.

 

[CYDJ]

Yeah, $5 mill liquid is a whole other ball game from $5mill net worth.

And when I mean liquid I am counting retirement accounts too. I think that is reasonable. No one needs to share, this is not anonymous enough, for sure. But, I would bet that there are at least a dozen folks that peruse this site regularly that are in that classification if not more. Likley a hundred or two if you use the net worth level. Don't you think?

A Million $s doesn't mean as much as it used to.

 

[Kinch]

A relative of mine works at Casey’s and he thinks that Casey’s has created more millionaires than any other Iowa based company. He knows several rank and file who have worked there 20 years and have well over $1 million in their 401k. He started when Casey’s stock was under $50 and now it’s north of $500.

 

[JRE1975]

The guy taking over for Buffet lives in WDM and is reportedly is worth over $1 billion and he goes to Iowa State games.

More importantly he helps make decisions on what Mid-American invests advertising at Iowa State sporting venues.