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The Virginia 100—page 2

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Virginia 100—page3

ROBERT M. ROSENTHAL
Arlington. 80. The CEO of Rosenthal Automotive Organization continues to lead a privately owned chain of 17 auto dealerships in greater Washington, D.C., that generates annual sales of nearly $1 billion.  Currently negotiating to buy a Nissan dealership, Rosenthal says his company is weathering the slow economy with first-quarter 2008 sales down only 3 percent from last year. “We’re merchandising harder, and we’re taking less money for our cars,” admits Rosenthal. A noted philanthropist, Rosenthal says his “biggest thrill” in business came from helping about 25 of his managers launch their own independently owned dealerships. Rosenthal serves on the Trustee Council of the National Gallery of Art and has pledged more than $5 million to charities including California’s Eisenhower Medical Center and the Smithsonian National Air & Space Museum. An active donor to Republican candidates, the auto magnate donated to the campaigns of John McCain, Mitt Romney and Fred Thompson.
Net Worth: $300 million
Confidence: B

BETTY KNIGHT SCRIPPS
Charlottesville, East Hampton, N.Y. and Rancho Santa Fe, Calif. 82. The executive officer of Charlottesville-based Scripps Enterprises Inc., funded the establishment of a second professorship in medicine at the Mayo Clinic this year.  Besides running a private firm with holdings in publishing, real estate, oil and gas, she’s an active philanthropist. For several years, Scripps has chaired the Candlelight Ball for Scripps Hospital in La Jolla, Calif., donating more than $1 million each year and raising three times that amount. She and her late husband, Edward W. Scripps, owned Scripps League Newspapers which they sold in 1996. The Scripps League Newspapers Education and Research Fund continues to provide financial assistance to journalism students at universities. Scripps also established the Scripps Library at the Miller Center at the University of Virginia.
Net worth: $300 million
Confidence: B

NICHOLAS D. CHABRAJA
Falls Church. 65. At the request of his board, Falls Church-based General Dynamics Corp., chairman and CEO Chabraja agreed to extend his contract for another year, setting June 30, 2009, as his retirement date. He is in his 11th year leading one of the country’s largest defense contractors, General Dynamics, which employs about 81,000 people.  It snagged several major contracts last year, with some of them related to protecting American military forces in Iraq.  With $27.3 billion in annual revenues, General Dynamics ranks 87th on the 2008 list of Fortune 500 companies, up from 92nd place in 2007 when revenues stood at $24.2 billion. Chabraja exercised stock options last year worth $45.2 million. In May, the stock was trading at around $90 a share, a big tick up from last year’s price of about $78. Chabraja and his wife, Eleanor, each contributed $2,300 to U.S. Sen. Hillary Clinton’s presidential campaign last year, according to the Federal Election Commission. Washington Life magazine named Chabraja one of the 100 most powerful people in D.C. last year.
Net worth: $297 million
Confidence: B

JOSEPH E. ROBERT JR.
McLean. 57.  Robert, the chairman and CEO of the commercial real estate and global investment firm J.E. Robert Cos., is known around Washington, D.C., as one-third of the “holy trinity.” Robert, James Kimsey (a co-founder of AOL) and Raul Fernandez (an Internet service business executive) have given millions to causes around the nation’s capital. One of their charities is their alma mater, St. John’s College High School. In 1990, Robert, a Washington native, founded Fight For Children to help underprivileged children gain access to high-quality educational and health-care services. Today the nonprofit has raised more than $80 million. Robert sits on many business group and nonprofit boards. He is chairman of Business Executives for National Security, on whose behalf he has traveled to Iraq at least three times. He also is on the international advisory board of EuroHypo AG, the Policy Advisory Board of the Fisher Center for Real Estate and Urban Economics at the University of California and the Peterson Institute for International Economics in Washington. In addition, Robert is chairman of the Washington Scholarship Fund.
Net worth: $260 million
Confidence: C

SAUER FAMILY
Richmond. The family-owned C.F. Sauer Co. celebrated its 120th anniversary of manufacturing spices and extracts last year by turning its back on one major tradition. After three years of market research and focus-group testing, Sauer began jettisoning its familiar red-capped yellow spice containers in favor of a more modern look. “It had become tired looking, and we needed to reposition our products to new and younger consumers,” says Mark Sauer, executive vice president of sales. Other changes include a newly patented spice rack system for grocery stores that cuts stock times in half, and the introduction of 36 new products, such as MSG-free grilling blends. Mark Sauer’s elder brother, Conrad F. Sauer IV, is president and CEO of the company. Their father, Conrad F. Sauer III, is chairman of the board. Bradford Sauer is president of Sauer Properties, and Tyler Sauer leads plant scheduling. The company has about 900 employees and manufactures 300 products, including extracts, seasonings and gravy mixes.
Net worth: $250 million+
Confidence: C

PAUL SAVILLE
Reston. 52. Saville is president and CEO at NVR Inc., one of the country’s largest home-building and mortgage banking companies. He earned an $800,000 salary in 2007, but received no bonus as the company tried to weather the tough real estate and financial markets. A bright ray for NVR is that it was one of only two of the top 12 nationwide homebuilders that were profitable in 2007. NVR saw revenues decline more than 16 percent to $5.1 billion in 2007 from the previous year and net income fell 43 percent to $334 million in 2007 from $587 million in 2006. In 2008, Saville has sold about $10 million worth of stock so far.
Net worth: $233 million
Confidence: B

MICHAEL SAYLOR
McLean. 43. He continues to preside as chairman, president and CEO of McLean-based MicroStrategy Inc., which took a beating from analysts earlier this year after the business software maker reported a dip in profits for fiscal 2007, from $70.9 million to $58.5 million, or 17.5 percent. Management was panned for not talking to Wall Street investors and for planning to buy a $46 million Bombardier jet expected to be delivered in 2009. Profit continued to decline during this year’s first quarter, although revenues were up. Net income stood at $8.3 million, or .67 per share on a diluted basis, compared to $9.8 million, or .75 per share for first quarter 2007. Revenue stood at $83.5 million versus %69.4 million for the first quarter of 2007, or a 20 percent increase. The company plans to sell two of its noncore businesses, Alarm.com and Angel.com. In April, Saylor got a nice raise, with his annual salary increased from $525,000 to $875,000. He also was granted a $1.8 million bonus for fiscal 2007. His Constitution Foundation charity had assets of $14.3 million in 2006 and distributed nearly $700,000 in grants that year to art, educational and other activities. 
Net worth: $219 million
Confidence: B

NIGEL W. MORRIS
Alexandria. 49.  The former Capital One Financial Corp. executive and co-founder is busy these days advising other companies and funding startups. Recently, he joined the board of directors of Mobile Posse, a McLean-based provider of advertising solutions for mobile devices. Morris also serves on the board of Clearspring Technologies, another McLean company that has received financial backing from Steve Case’s Revolution LLC investment firm and Ted Leonsis. Clearspring provides a platform for widgets, a mini-Web application that helps people customize their blogs and Web pages. Morris is also a partner in Alexandria-based Columbia Capital, a venture capital firm specializing in the communications and information technologies industries.
Net worth: $200 million
Confidence: C

MARK R. WARNER
Alexandria. 53.  The former Virginia governor is running for the seat of retiring Sen. John Warner. He announced last month with a war chest of more than $2.5 million that he raised during the first quarter. If elected, the Democrat plans to put his holdings in a blind trust, as he did during his gubernatorial term. According to the public disclosure report candidates are required to file, Warner’s assets are valued between $88 million and $390 million, although Warner previously indicated his net worth is about $200 million. As an investor, he sees as much potential for wealth and job creation in the development of alternative energy sources as he saw in telecommunications 20 years ago. “I’m not just talking about solar, wind or bio-fuel,” he says. “I’m also talking about coal — carbon capture and sequestration — and taking a fresh look at nuclear.”  Warner made his fortune as a cellular phone pioneer. He and his wife, Lisa Collis, recently donated $1.5 million to The Nature Conservancy in support of environmental conservation work in Virginia’s Allegheny Highlands. “We both think that preserving Virginia’s natural beauty needs to be both a public concern and a private effort,” says Warner.
Net worth: $200 million
Confidence: B

HARRY H. HUNT III
Blacksburg. 74.  Harry Hunt says his net worth spiked by $5 million last year. His private real estate and development company, HHHunt Corp, continues to thrive, because he doesn’t have all his eggs in one basket. “Diversification is a major reason we are doing well in spite of the ‘housing bubble.’” The firm owns nearly 6,000 multi-family rental units and 22 assisted living facilities in 17 cities. In addition, it has home-building companies in Richmond, Hampton Roads and Raleigh, and it plans to open a Charleston, S.C., branch soon. Hunt expects to see a much better housing market in the second half of this year, compared to the first half. “With the media continually indicating that if one buys now the house will be worth less in 6 months, it has no doubt pushed home buyers to the sideline,” he says.  “This should change shortly as people realize it will become a ‘buyer’s boom.’” Hunt enjoys travel and visited Bejing, Hong Kong and Singapore in the spring. 
Net worth: $194.1 million*
Confidence: A

DANIEL F. AKERSON
McLean. 59. With many business deals culminated on the golf course, perhaps it’s no surprise that the managing director of The Carlyle Group landed on Golf Digest’s inaugural list of top financial golfers. Akerson was tied for No. 87 on the magazine’s list of the top 150 financial duffers. Akerson heads the private equity fund’s U.S. Buyout fund. In the political arena, Akerson recently proved that he knows a good bet. He donated $2,300, the maximum allowable under the law, to John McCain’s presidential campaign last September when most had written off the senator, now Republican presidential nominee. A U.S. Naval Academy graduate, Akerson remains on the boards of the U.S. Naval Academy Foundation, American Express and Freescale Semiconductor, and is chairman of Hawaiian Telcom.
Net worth: $190 million
Confidence: C

THE REV. M. G.
“PAT” ROBERTSON

Virginia Beach. 78. Robertson stepped down in December as CEO of the Christian Broadcasting Network, turning the reins over to his son, Gordon Robertson. Pat remains chairman of CBN and still co-hosts its flagship television show, “The 700 Club.”  Gordon is the vice chairman. Robertson also remains as president of Christian Regent University. Robertson is also involved in “green chemistry.” His company, Earth Friendly Chemicals, produces a broad-range of environmentally friendly de-icers and disinfectants. Another business that caught Robertson’s interest this year was his hometown metropolitan daily newspaper, The Virginian-Pilot, whose owner, Landmark Communications, is exploring the potential sale of its media properties. Robertson said in January that he was considering a bid to purchase The Pilot, but nothing has come of his interest so far. 
Net worth: $175 million
Confidence: B

RICHARD L. SHARP
Richmond. 61.  The retired chairman of used-car retailer Carmax Inc. remains active in business.  Sharp has been servingas an adviser on several boards and making political waves.  He is a director on the board for the Singapore-based engineering and manufacturing firm Flextronics International Ltd. and is board chairman of the footwear retailer Crocs Inc. He spent $200,000 last year to create Citizens for the Commonwealth, a political action committee that donated $555,000 in the fall to Republican candidates for state senate and delegate seats. Sharp also donated $75,000 to the state Republican Party last year and $10,000 in November to former Gov. Jim Gilmore’s PAC, which Gilmore used to consider a bid for a U.S. Senate seat. The Sharp Foundation has donated to many local and state organizations, including the Virginia State Golf Association Foundation, the Alliance for School Choice and the American Cancer Society. 
Net worth: $170 million
Confidence: C

NOLAND FAMILY
Newport News. Noland family members have been longtime supporters of Newport News and Virginia museums, as well as many different charitable organizations. Lloyd U. Noland III, 65, currently serves on the board of trustees of the Virginia Historical Society. Noland is the former chairman and CEO of Noland Co., which sells products to the plumbing, electrical and air conditioning industries. He sold the company in 2005 for $250 million. Noland’s father, Lloyd Noland Jr., is president of the Noland Memorial Foundation, the family’s charitable arm.
Net worth: $166 million
Confidence: C



JOSEPH W. LUTER III
Smithfield. 68. The chairman of Smithfield Foods recently sold more than 870,000 shares, raking in $24 million in early 2008. Luter still owns nearly 4.3 million shares of Smithfield. He has been with the company for 33 years, stepping down as CEO in 2006 after helping to build Smithfield into the world’s No. 1 hog producer and pork processor, largely through acquisitions. These days, though, the company is shedding some units. In March, it announced an agreement to sell its beef processing and cattle feeding operation to an overseas company, JBS S.A., for $565 million in cash. A recent change in senior management brought a promotion for Luter’s son. In April, Joe Luter IV was named a Smithfield Foods executive vice president, moving up from president of Smithfield Packing Co.  The elder Luter lectures at the Harvard Business School and the Darden Graduate School of Business Administration at the University of Virginia. Luter also established the Smithfield-Luter Foundation, which gives need-based undergraduate scholarships to children of employees.
Net worth: $162 million
Confidence: B

DANIEL A. HOFFLER
Eastville. 59. Hoffler’s real estate development company celebrated the grand opening of the tallest building in Virginia with a black-tie charity gala in January. NASCAR drivers Kyle Petty and Kurt Busch, (who was married in 2006 at Hoffler’s Eastern Shore estate), served as honorary chairmen at the celebration of the Westin Virginia Beach Town Center Hotel & Residences. The 40-story hotel includes 236 guest rooms and 120 condominiums. It’s part of the Virginia Beach Town Center, a 17-block business, residential and shopping center being developed by Armada Hoffler, where Hoffler continues as chairman. Meanwhile the company is a partner in a $50 million mixed-use project in Blacksburg. Smith’s Landing, which is being developed with former Hokie and NFL player Bruce Smith, will include 284 apartments, a 137-room hotel and commercial retail space. Point Farm, Hoffler’s 130-acre estate on the Eastern Shore, is on the market for $41.7 million. (See story on page 51.)
Net Worth: $150 million
Confidence: A

WEINSTEIN FAMILY
Richmond. The family runs Weinstein Properties, which owns and operates apartments in Virginia and North Carolina, among other real estate holdings. Marcus Weinstein is chairman and CEO; Allison Weinstein is president and chief operating officer; and son-in-law Ivan Jecklin is general counsel and executive vice president. (See profile of Carole Weinstein, the company’s vice chairman, on page 34.)
Net worth: $150 million
Confidence: C

ROGER MODY
McLean. 44. The co-founder of Signal Corp. received more than 40 industry and growth awards for his entrepreneurship while he was CEO, but these days he’s chasing after a different kind of trophy. The A1 Grand Prix Team USA that he co-owns won its first race at the A1GP World Cup of Motorsport in April at the Shanghai International Circuit. Last year the team ended the season in 12th place, finishing just shy of its goal to reach the top 10. Mody sold his technology services firm for $227 million in 2002. He took home an estimated $125 million. In his retirement, Mody is advising startup companies and pursuing philanthropic projects. His Mody Foundation supports many charitable organizations associated with professional sports such as Hoop Dreams and Joe Gibbs’ Youth for Tomorrow.
Net worth: $135 million
Confidence: C

BETTY AND FARMER MEADOWS
Spotsylvania County. Both 73. The Meadows have expanded their nursery business to a location near Harpers Ferry, W.Va. The couple recently purchased 10 acres of commercial property in Charles Town for $1.3 million and opened their first nursery there in April. The two own Meadows Farms, Meadows Farms Landscaping and Meadows Farms Golf Course, a 27-hole course in Orange County. The Meadows have 26 nurseries around Northern Virginia and also own an 850-acre farm that raises beef cattle. Farmer remains involved in the business. Son Jay Meadows, 45, serves as president of Meadows Farms.
Net worth: $129 million
Confidence: A

JAMES B. MURRAY JR.
Charlottesville. 61. This venture capitalist has provided more than “change” to U.S. Sen. Barack Obama’s campaign. Last fall Murray organized a Charlottesville rally and fundraiser that drew more than 4,250 people and raised $300,000 for Obama. Murray is founder and managing general partner of Court Square Ventures, a private equity venture capital firm that manages some $160 million and invests in early-stage communications, information technology and media technology industries. The firm’s latest ventures include Mobile Posse, a provider of advertising content on mobile phones. Murray chairs the Virginia Commission on Higher Education Appointments. A 1974 graduate of the College of William & Mary’s law school, he headed a successful $500 million capital campaign for his alma mater, which concluded last year. 
Net worth: $125 million
Confidence: C

ALAN LINGERFELT
Richmond. 53. After overseeing growth of Liberty Property Trust’s Virginia portfolio, whicgrew from $125 million in 1995 to $350 million, Lingerfelt the company in 2007 so he could resume being a private developer. A long-time supporter of Virginia Commonwealth University, he was a director of the school’s Real Estate Foundation until last year. He also has served on the College of Engineering Board at Virginia Tech. Lingerfelt’s family also contributed to scholarship funds at the Douglas S. Freeman High School.
Net worth: $120 million
Confidence: C

PAUL AND TERESA KLAASSEN
McLean.  The founders of Sunrise Senior Living, husband and wife Paul and Teresa Klaassen, own about 11.7 percent of the company’s shares, a value of nearly $120 million. Sunrise operates 441 senior living communities with capacity for more than 54,000 residents in the United States, Canada, Germany and the United Kingdom.  It currently has 40 communities under construction. Paul recently stepped down as chairman but remains CEO. Accounting irregularities led to lowering earnings from 1996 through 2005 by $173 million. The restatement found accounting errors but did not find evidence of insider trading or backdating stock options, according to The Washington Post.  Teresa Klaassen is a director and the company’s chief cultural officer. She is a founding member of the Assisted Living Federation of America, and serves on the Committee of 200, a leadership group of corporate women. She also chairs the Sunrise Senior Living Education Foundation, which operates Merritt Academy, The Appletree School and First Steps Childcare Center.
Net worth: $119 million
Confidence: B


STEVEN A. MARKEL
Richmond. 58. “Any area that gives standard insurance companies heartburn, we want to figure out how to get actively involved in.”  That’s what Steven Markel told the New York Times this year about how his company operates. Markel, vice chairman of the Markel Corp. since 1992, now shares the title with his cousin, Anthony Markel. Steven Markel also serves as a director of the Richmond-based men’s retailer S&K Famous Brands Inc. and on the board of First Market Bank.  He’s also active in the community. Markel serves as chairman of the Virginia Commonwealth University’s School of Business Foundation and is on the board of the Richmond Chapter of the American Heart Association. He was inducted in May into the Greater Richmond Business Hall of Fame by the Junior Achievement of Central Virginia.
Net worth: $113 million
Confidence: B

BYRD FAMILY
Winchester. Shenandoah University’s Harry F. Byrd Jr. School of Business found a new home this year in the $12.5 million, 60,000-square-foot Halpin-Harrison Hall. Harry F. Byrd Jr., 93, attended the the building’s dedication in March. Byrd spent 18 years in the U.S. Senate and 18 in the Virginia Senate. The Byrd family publishes newspapers in the Shenandoah Valley, including The Winchester Star and the Daily News-Record in Harrisonburg. Thomas T. Byrd, one of Harry Byrd’s sons, is publisher of most of the papers. Harry F. Byrd III is chairman of the board of Winchester Medical Center and sits on the board of directors of its parent company, Valley Health System. In addition, Tom Byrd is on the board of advisers for the Marsh Institute for Government and Public Policy at Shenandoah University. The family and the newspapers are active donors and sponsors, including annual $10,000 Star Leadership Awards to selected students at area high schools. 
Net worth: $100 million+
Confidence: C

DAVID R. GOODE
Norfolk. 67. The retired chairman and CEO of Norfolk Southern Corp. and his wife, Susan, donated an unspecified amount to open a campus resource center at Roanoke College in honor of his father, sister and brother-in-law, who were graduates of the school. The Goode-Pasfield Center for Learning and Teaching, which opened in April, serves as a center for writing support, tutoring and peer mentoring.  Goode worked at Norfolk Southern for 40 years and was its CEO for 13 years. A Harvard Law graduate, he also serves on several corporate boards and on the board of trustees for the Chrysler Museum of Art in Norfolk.
Net worth: $100 million+ 
Confidence: C

Virginia 100—page3


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