FORBES: VanderSloot remains richest Idahoan – now worth $3.4 billion
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IDAHO FALLS – For the second year in a row, Frank VanderSloot has been named the richest person in Idaho and his net worth has grown exponentially since 2017, according to Forbes.
“I don’t think lists like that are valuable,” VanderSloot said in response to the story. “I don’t think that’s how you ought to measure a man or a woman. It’s certainly not who they are based on what their assets are. I think you should measure somebody based on if they are honest with each other, if they are kind, if they are caring about other people and do they live within the values of what we all believe to be right or wrong? A list like that might have some merit.”
The magazine estimates the founder and CEO of Melaleuca is worth an estimated $3.4 billion. Last year, Forbes valued Vandersloot’s wealth at $1.9 billion.
Every year Forbes scans America’s largest fortunes to determine the wealthiest individual in every state. VanderSloot was named to the list for the first time in 2017, taking over the top spot from Boise-based CEO Scott Simplot with the J.R. Simplot Company.
VanderSloot’s dramatic increase in net worth is likely due to Melaleuca hitting a record $2.04 billion in annual sales last year.
During an interview with EastIdahoNews.com last year (watch above), VanderSloot credited Melaleuca employees and marketing executives for his success.
“I’m only on the list because I’m a key shareholder in Melaleuca,” he said. “I am proud of the men and women who have joined me over the years and who have built that. A lot of people pitched in – really, thousands of people…I’ve received more blessings than I deserve in my life.”