Gary Tharaldson Biography & Net Worth
|Popular Name:||Gary Tharaldson|
|Real Name:||Gary Tharaldson|
Dazey, North Dakota, United States
|Net Worth:||$1 Billion|
American entrepreneur Gary Tharaldson is currently one of the hottest billionaires in North Dakota at the moment. Born and brought up in Dazey, North Dakota, he attended Valley City State University for his degrees in Business Administration and Physical Education before doing graduate work at North Dakota State University. He also taught in Leonard, North Dakota for two years before moving his career forward. Mr. Tharaldson is the wealthiest man in North Dakota and the state’s only billionaire. He gained his huge fortune after he founded Tharaldson Companies back in the 80s. It is a hospitality business that controls and maintains several hotels in America. Tharaldson started his business with the purchase of a Super 8 Motel in Valley City, North Dakota. Since that time, the enterprise has grown into one of the most successful and popular developers of new hotels in the United States of America. In 2006 alone, it sold 130 hotels to the Whitehall Real Estate Fund, the real estate arm of Goldman Sach for $1.2 billion in cash. The proceeds were invested in significant land properties in various states in the country. Those assets are, today, managed by Diversified Asset Management based in Las Vegas. More details follow below.
Early Life: Childhood, Education
Mr. Gary Tharaldson was born in Dazey, North Dakota, US, in 1945. He was brought up by his parents in the same city where he was born.
For his education, he earned degrees in Business Administration and Physical Education at Valley City State University.
Professional Life: Entrepreneurial Career
After doing his graduate assignments at North Dakota State University in Fargo, he started working as a teacher in Leonard, North Dakota and later left the job after two years.
He has been extensively involved at the University of Mary in Bismarck in North Dakota, where he eventually lent his name and fame to the University’s “Gary Tharaldson School of Business”. He also served on the University’s Board of Trustees for a while and received an honorary doctorate from the University in 2018.
Mr. Gary is the founder and chair of Tharaldson Companies, an establishment that he launched in 1982 with very little help. Tharaldson Hospitality builds and controls hotels across the United States. Gary started his company with the purchase of a Super 8 Motel in Valley City, North Dakota back in 1982, and today, his business is identified as one of the most successful in the state.
The businessman is currently named by Forbes magazine as one of the 400 Richest Americans. His company, since its establishment, has expanded beyond expectation and has turned into one of the largest developers of new hotels in the United States.
Mr. Tharaldson was elected into the Scandinavian-American Hall of Fame in 2003.
In March 2006, the Tharaldson company sold 130 hotels to the real estate investment division of Goldman Sachs called Whitehall Real Estate Fund for $1.2 billion in cash. The proceeds from the deal have mostly been invested in land properties around the country. The assets are under the management of Diversified Asset Management, a Las Vegas, Nevada-based company.
Personal Life: Wife, Children, Private Interests
Gary’s wife is Connie Tharaldson. They live together in North Dakota state where the majority of Gary’s businesses are held and managed.
He has two brothers and three sisters. Their names are Rodney, Roger, Connie, Cleone, and Delphine. His other relatives include Julie Peterson, Chelsea Teran, and Camden Teran.
Gary Tharaldson Net Worth: Salary, Income Sources
As of the time of filing this report, our team hasn’t been able to gather enough information to determine for a fact, the amount of money that this businessman takes home in the forms of salary and compensation. What has been established, however, is his net worth, which is currently pegged at 1 billion dollars.
From all that has been penned in the article above, you can see that he makes his wealth mainly from his Tharaldson Companies which he started in the 1980s as a hospitality business that operates and maintains numerous hotels around the United States. In what started with a single hotel buy, Mr. Tharaldson has expanded his business empire to become one of the biggest businesses in the state of North Dakota. His billionaire status didn’t just happen overnight but took many years of hard work and perseverance. For much of the decade between 2010 and 2019, Mr. Gary Tharaldson’s net worth ranged between $700 and $900 million. He joined the billionaires’ ranks in June 2019 when his net worth finally topped a billion dollars for the first time in his life. His wealth, to this day, still makes him the wealthiest individual in North Dakota and the state’s first official home-grown billionaire.