NOLAND FAMILY
Newport News. Ninety years after it started as a mechanical contracting business by L.U. “Casey” Noland, the Noland Co. has agreed to be sold for $250 million to Dayton, Ohio-based WinWholesale Inc., a network of independent wholesale plumbing supply companies. Noland Co. Chairman and President Lloyd U. Noland III (Casey’s grandson) said he felt the time was right to sell the company, particularly in light of new federal laws requiring public companies to spend more time and money on accounting practices. Lloyd U. Noland Jr., Casey’s son, ran the business until 1987. The Noland family still owns 61.5 percent of the company. WinWholesale is offering $74 a share — making that stake worth nearly $155 million.
Net worth: $155 million
Confidence: B

STEVEN A. MARKEL
Richmond. 55. Vice chairman, Markel Corp. Specialty insurer writes policies for niche markets such as horse farms, security guard companies and mobile home parks. Steven Markel formerly served as executive vice president and treasurer. His cousin, Anthony Markel, is president and chief operating officer. Steven Markel serves on the governing board of the Virginia Commonwealth University Health System and is chairman of the Executive Leadership Committee of the VCU School of Business, to which he and wife Kathie recently pledged $10 million. Steven Markel also serves as a director of S&K Famous Brands Inc., a Richmond apparel retailer.
Net worth:$152 million
Confidence: B

RICHARD L. SHARP
Richmond. 58. Sharp is the former chairman of Circuit City Stores Inc. He now is chairman of Richmond-based CarMax Inc. and Flex-tronics Inter-national Ltd., an electronics manufacturer based in Sing-apore. Sharp started CarMax, a chain of used-car superstores, while at Circuit City. The company is building a new headquarters in the West Creek Corporate Center in Goochland County west of Richmond. CarMax also recently opened its second superstore in Richmond. The original CarMax store opened in 1993.
Net Worth: $150 million
Confidence: C

DAVID R. GOODE
Norfolk. 64. Chairman and CEO, Norfolk Southern Corp. Last year was a strong one for the transportation company with higher fuel prices and increasingly congested highways prompting more companies to move goods by rail. Revenue rose to $7.3 billion, up 13 percent over the previous year. The company’s stock gained more than $12 per share — to nearly $37 by year-end — a far cry from the lows it reached after the company’s rocky merger with Conrail a few years ago. Goode plans to retire in January and should be able to do so in style. He earned $11 million in 2004, and owns 3.4 million shares of company stock valued at nearly $130 million at current prices. In addition, Goode serves on several corporate boards and owns shares in those companies: Caterpillar Inc., Delta Air Lines Inc., Georgia Pacific Corp. and Texas Instruments. He serves as a trustee on the Virginia Foundation for Independent Colleges and is a member of The Business Council and the Business Roundtable. With his exit imminent, a new senior management team is in place headed by President C. W. “Wick” Moorman. Norfolk Southern expects continued growth in rail freight and is investing in more locomotives and track capacity.
Net Worth: $145 million
Confidence: B

WEINSTEIN FAMILY
Richmond. Owner of Weinstein Properties, private real estate company that owns and manages 10,000 apartments in Virginia and North Carolina. Marcus M. Weinstein founded company in 1962, which is now run by his daughter, Allison Weinstein. The family has donated millions to the University of Richmond, alma mater of Marcus and his wife, Carole. The couple, Allison and son-in-law Ivan Jecklin gave $5 million to the university in March for the building of the $12 million Weinstein Recre-ation and Wellness Center. In 2001, the Weinsteins, including Marcus’ brother Phillip, gave $8.5 million for the construction of Weinstein Hall, a social-sciences building. A member of the UR board of trustees, Allison is helping to lead the university’s latest $200 million fund-raising campaign. The Weinsteins also were major contributors in the recent expansion and renovation of the Richmond Jewish Community Center, which was renamed the Carole and Marcus Weinstein JCC.
Net Worth: $140 million
Confidence: C

HARRY H. HUNT III
Blacksburg. 71. Chairman of HHHunt, a private real estate development and management company that continues to grow in step with the booming real estate market. Company builds large residential communities, multifamily housing and assisted-living facilities from Maryland to South Carolina. Last year was its biggest yet with annual revenue of $236.8 million, compared with $146.9 million in 2003. “The solid real estate market in this country has arguably been the number one sector of the economy for the last few years,” says Hunt, whose net worth increased by $18 million as a result of his company’s growth. HHHunt hired 50 employees last year and plans to open a home building division in Tidewater. Last month, company opened a 72-unit assisted-living facility in Dare County on North Carolina’s Outer Banks. New projects in central Virginia include residential community of Wilton in Henrico County. Hunt says company’s philosophy of reinvesting 90 percent of its profits in new projects drives its growth.
Net Worth: $139 million*
Confidence: A

ANTHONY F. MARKEL
Richmond. 63. President and chief operating officer of Markel Corp. since March 1992. Company markets and underwrites niche insurance lines that other companies won’t touch, including summer camps and thoroughbred horses. Runs company along with cousin Steven Markel and Alan I. Kirshner, the former husband of a cousin. Revenue for 2004 expanded 8 percent, contributing to a five-year spurt of 34 percent. As a result, shareholders saw book value per share soar 20 percent last year to more than $168 a share, fueled by strong underwriting profits and robust investment returns. Anthony Markel also is a director of Hilb, Rogal & Hobbs, a Richmond-based insurance broker, of which he owns about 30,000 shares of stock.
Net Worth: $125 million
Confidence: A

BETTY AND FARMER MEADOWS
Spotsylvania County. Both 70, Betty and Farmer Meadows built a summer job of selling tomatoes at roadside stands into a chain of 21 discount nurseries around Northern Virginia. Son Jay, 43, runs Meadows Farms now. The family business, which employs 600 full-time and 200 part-time workers, continues to grow. The family purchased 20 additional acres for its main landscape-design nursery in Chantilly and added 28 trucks to handle company’s growth in landscaping design. To expand their beef cattle business, the couple purchased a 350-acre farm adjacent to their 425-acre farm in Orange County.
Net Worth:
$125 million
Confidence: A

JAMES B. MURRAY Jr.
Charlottesville. 58. Managing general partner of Court Square Ven-tures, a private equity firm that has raised $200 million to make early-stage investments in the communications and information technology industries, including College Sports TV, a multiplatform media network dedicated to college sports. Was an early investor in cellular telephone licenses and later became a co-founder of Alexandria-based Columbia Capital Corp., a large venture-capital firm with $1.5 billion under management. Murray sits on the board of various private and public companies, including Advanced Radio Telecom and ACT Micro-devices. Also serves on the Governor’s Commission on Higher Education Board Appointments.
Net Worth: $125 million
Confidence: C

WILLIAM J. INMAN
McLean. 57. President of NVR Mortgage Finance Inc., subsidiary of home builder NVR Inc. Inman exercised nearly $9 million worth of stock options in 2004. National housing boom propelled stock to 52-week high of $819 in February, but it’s been a strong performer for years. NVR’s mortgage division provides financing programs to homebuyers. Its home building arm constructs homes in 18 states, including Virginia. Bulk of its 2004 home building revenue (54 percent) originated in Washington and Baltimore areas. Company markets homes under trade names Ryan Homes, NV Homes and Fox Ridge Homes. Company posted combined revenue of $4.3 billion in 2004, a rise of 17 percent.
Net Worth: $122 million
Confidence: B

ALAN T. LINGERFELT
Richmond. 50. Thanks to growth in central Virginia’s market, the Richmond-area portfolio Lingerfelt manages has grown more than 71 percent to 6 million square feet since Malvern, Pa.-based Liberty Property Trust acquired his family’s Lingerfelt Development Corp. in a $125 million deal in 1995. The transaction gave Lingerfelt and his family $14 million in limited partnership interests in Liberty as well as $70 million in cash. He remains the REIT’s senior vice president in Richmond. A director of Virginia Commonwealth University’s Real Estate Foundation, he has served as president of the Real Estate Circle of Excellence, which advises students in VCU’s Real Estate and Land Development program. Lingerfelt has endowed scholarships for engineering and business students at VCU and Virginia Tech. He also serves on various committees at Derbyshire Baptist Church, where he’s made large donations over the years.
Net Worth: $120 million
Confidence: C

LUCK FAMILY
Goochland County. Family owns Luck Stone Corp. Charles S. Luck Jr. started company in 1923 with one quarry. Today Luck Stone is the largest privately owned and operated aggregates supplier in U.S. with 900 employees. Charles S. Luck III is chairman and Charles S. Luck IV serves as president and CEO. Company runs four primary businesses: construction aggregates (with 16 crushed stone plants in Virginia and North Carolina), architectural stone, Lee Tennis/HAR-TRU — manufacturer of the most popular clay tennis court — and Luck Properties, a real estate development arm that includes three business parks in Virginia. Charles S. Luck III serves as a trustee for the Virginia Foundation of Independent Colleges.
Net Worth: $120 million
Confidence: B

EDWIN A. JOSEPH
Gloucester. 75. Majority owner of Great Atlantic Real Estate/Property Management Co. in Newport News, one of the largest real estate management companies in the Southeast. Owns and manages 15,000 apartments and 1 million square feet of commercial space in 25 cities. Joseph, who pushed for the creation of the Gloucester Main Street Association, was unanimously elected chairman of the newly formed Main Street Preservation Trust board in Gloucester.
Net Worth: $110
Confidence: C

JOHN T. HAZEL JR. FAMILY
Broad Run. A former partner in Reed Smith law firm in Falls Church, John “Til” Hazel, 74, devotes most of his time to land development through a consortium of companies. Son Jack is principal of Angler Development Co. LLC, which develops, leases and manages commercial real estate, primarily in Northern Virginia. Jack Hazel also is managing owner of Angler Construction Co. LLC, which specializes in streets, utility lines and general site work. Son Dick Hazel runs Hazel Land Inc., a commercial development company engaged in land development and residential construction in Fredericksburg and Prince William County. Dick Hazel also manages Lee’s Hill Construction Co., a builder of apartments and single-family homes. Family also owns and manages a portfolio of office buildings developed during the past 20 years by Hazel/Peter-son Cos.
Net Worth: $105 million
Confidence: A

ARTHUR W. “NICK” ARUNDEL
The Plains. 77. Founder, chairman and publisher of Times Community Newspapers, a suburban newspaper chain that has become the largest chain in Northern Virginia, distributing 18 newspapers with a combined circulation of 271,000. Arundel’s son, Peter, who became CEO in February, succeeded his father as head of all company operations. Since joining the company in 1989, Peter launched or purchased 20 newspapers and niche publications and also started the company’s Web site. Arundel has donated land and financial support to the nonprofit Nature Conservancy and created the Meadows Outdoors Foundation, home of the Virginia Gold Cup Steeplechase races. The Found-ation continues to support the preservation of open space at Great Meadow.
Net Worth: $100 million
Confidence: B

BRYAN FAMILY
Richmond. J. Stewart Bryan III, 67, steps down as CEO of Media General Inc. on July 1 but continues as chairman of the communications company founded by his father, the late D. Tennant Bryan. Bryan leaves company on a solid footing. In 2004 net income increased 37 percent and revenue of $900.4 million was up 7.5 percent, compared to 2003, with big boosts coming from political and Olympics advertising. Company’s holdings — primarily in Southeast — include Virginia Business magazine, three metropolitan daily newspapers (including the Richmond Times-Dispatch), 22 community newspapers, 26 television stations, more than 100 weekly publications, online enterprises and a 33 percent ownership in SP Newsprint Co. Media General continues philosophy of convergence and in six markets delivers news through shared platforms. A 2003 change in media ownership rules by the Federal Communications Commission appeared to open the door to cross-ownership of broadcast stations and newspapers in mid-sized and large markets. However, a court challenged the rationale behind the change, remanding the issue to the FCC. The federal agency has declined to pursue the matter, putting the new regulations on hold. In the meantime, Media General and others have petitioned the Supreme Court, seeking a review of the earlier proceedings. Succeeding Bryan as CEO is Marshall N. Morton, Media General’s vice chairman and CFO.
Net Worth: 100 million *
Confidence: A

BYRD FAMILY
Winchester. The University of Virginia dedicated “The Byrd Seminar Room” to honor former U.S. Sen. Harry F. Byrd Jr., 90, and his father, the late former governor and senator Harry F. Byrd Sr., in the university’s new special collections library. The room, in the library’s Institute for American History, Literature and Culture, contains a collection of family papers donated by Harry Byrd Jr. Son Thomas T. Byrd is publisher of the family-owned Winchester Star and Harrisonburg News-Record.
Net Worth: $100 million
Confidence: C

NICHOLAS D. CHABRAJA
Falls Church. 62. Chairman and CEO of Falls Church-based General Dynamics Corp. since 1997. One of country’s largest defense contractors, General Dynamics makes the battle-tested Abrams M1A2 main battle tank, the Virginia-class nuclear-powered submarine and Gulfstream jets. Company holds leading market positions and employs 70,200 people worldwide. Last year General Dynamics earned $1.2 billion on sales of $19 billion, a hefty 18 percent and 14.6 percent increase, respectively, over its performance in 2003. Wars in Iraq and Afghanistan and increased homeland security concerns are boosting federal outlays on defense, with company’s revenues already up by 4 percent at the end of the first quarter for 2005. Chabraja was rewarded for the company’s strong showing in 2004 with a $2.7 million bonus. He’s ranked 111th on the Forbes list of highest paid executives, earning $34.4 million in total compensation. He owns more than 700,000 shares of General Dynamic stock worth more than $75 million. Also serves as a director at Ceridian Corp.
Net Worth: $100 million +
Confidence: B

JIMMY DEAN
Richmond. 76. Famed entertainer and former sausage kingpin. Federal judge in February ordered Sara Lee Corp. to stop claiming Dean’s endorsement for sausage products that bear Dean’s name. Released his blunt autobiography, “30 Years of Saus-age, 50 Years of Ham,” co-written with wife and country singer Donna Meade Dean. Couple remains active in politics, donating nearly $64,000 since 1997 to various Virginia political organizations. Included is Jimmy’s $1,000 donation to the gubernatorial campaign of former Virginia Attorney General and presumptive Republican nominee Jerry Kilgore. Continues to enjoy royalties from “Big Bad John,” a narrative-based mining tale for which he won a Grammy award in 1961. Real name: Seth Ward.
Net Worth: $100 million
Confidence: A

THE DELASKIS
Great Falls. Father and son, Donald deLaski Sr. and Kenneth E. deLaski, founded Deltek Systems Inc. in 1983. The maker of enterprise resource planning software posted record sales of $39 million in 2004, an increase of 23 percent. Those results continued a trend of sustainable double-digit growth triggered when the once-public company returned to private ownership in 2002. Federal contractors, professional services firms and organizations with large sales forces favor Deltek’s project-based software. Company continues to gain market share, adding 500 customers last year. Donald deLaski serves as chairman. Company employs 700 people, including about 400 in Virginia.
Net Worth: $100 million
Confidence: A

DAVID KARLGAARD
PAUL G. RICE
Fairfax. Karlgaard, 58, is chairman and CEO of Fairfax-based PEC Solutions Inc., a government IT services company that he started 20 years ago with two partners including Paul G. Rice. Karlgaard recently sold the company for $448 million to Ontario-based Nortel Networks Corp. He and Rice will stay on as part of the new company’s (to be called Nortel PEC Solutions) executive management team. Karlgaard owned more than 24 percent of PEC’s stock at the time of the sale, while Rice owned just over 23 percent. Karlgaard also serves as a director at James Monroe Bancorp, a community bank in Arlington with $450 million in assets where he is a significant shareholder, and Argon ST Inc., a systems engineering firm based in Fairfax.
Net Worth:
Karlgaard: $100 million
Rice: $90 million
Confidence: B