INDIANA — While global headlines focus on tech titans and multi-billion dollar mergers, the heart of the Midwest is home to its own elite circle of wealth. According to recent data from Forbes, Indiana currently counts two individuals among the world’s 3,000 billionaires, representing the healthcare and real estate sectors.
As of early 2026, these Hoosiers have seen their fortunes grow alongside a global surge in net worth that has seen leaders like Elon Musk approach unprecedented wealth levels.
Indiana’s Wealthiest: The Top Two
The Hoosier state’s billionaire list remains exclusive, led by a medical device pioneer and a real estate mogul who has shaped the Indianapolis skyline.
| Rank | Name | Net Worth | Source of Wealth | Residence |
| 1 | Carl Cook | $12.5 Billion | Medical Devices (Cook Group) | Bloomington |
| 2 | Herb Simon | $6.5 Billion | Real Estate (Simon Property Group) | Indianapolis |
Carl Cook continues to hold the title of the richest person in Indiana. He serves as CEO of the Bloomington-based Cook Group, a global leader in medical device manufacturing co-founded by his parents.
Herb Simon, meanwhile, is best known as the co-founder of the Simon Property Group—one of the world’s largest shopping mall developers—and as the longtime owner of the Indiana Pacers.
Headquartered in Bloomington, the Cook Group is a cornerstone of the Indiana life sciences sector. Under Carl Cook’s leadership, the company has grown from a small family operation into a global powerhouse.
- Employment Powerhouse: Cook Group employs over 12,000 people globally, with a massive concentration of those jobs in south-central Indiana. It is often the largest private employer in the Bloomington area.
- Downtown Revitalization: The Cook family is credited with saving much of Bloomington’s historic architecture. Through their subsidiary, CFC Properties, they have restored over 50 historic buildings, including the iconic West Baden Springs Hotel, which transformed the tourism economy of Orange County.
- Community Investment: In recent years, Cook Medical has focused on “impact manufacturing.” For example, they built a $15 million manufacturing facility in a high-need northeast Indianapolis neighborhood, creating 100 new jobs and partnering with local nonprofits to provide “wraparound services” like food, housing, and education for employees.
Simon Property Group (Indianapolis): The Real Estate Giant
Based in Indianapolis, Simon Property Group (SPG) is the largest real estate investment trust (REIT) in the United States and a defining force in the retail industry.
- Shaping the Skyline: Herb Simon and his late brother, Melvin, were instrumental in the revitalization of downtown Indianapolis. They developed Circle Centre Mall, which was a catalyst for the city’s downtown boom in the 1990s.
- Massive Job Base: The company employs approximately 3,000 people at its corporate headquarters and across its management teams. However, the indirect impact is much larger; Simon’s properties—such as the Fashion Mall at Keystone and various Premium Outlets—support tens of thousands of retail and service jobs throughout Indiana.
- State Presence: Simon Property Group recently completed a “redomestication,” officially moving its legal home from Delaware to Indiana. This move reaffirms their commitment to the state, where they manage a global portfolio of over 200 properties that attract more than 1.6 billion visits annually.
Notably, the list of Indiana billionaires recently saw a transition following the passing of Indianapolis Colts owner Jim Irsay in May 2025. At the time of his death, Irsay was valued at approximately $4.8 billion.
The National Landscape: Musk Dominates
While Indiana’s billionaires represent significant local economic power, they are part of a broader U.S. landscape dominated by the technology sector. Nationally, the wealth gap at the very top continues to widen, with Tesla and SpaceX CEO Elon Musk currently holding a staggering lead.
Top 5 Richest Billionaires in the U.S. (2026):
- Elon Musk: $785.9 Billion (Technology)
- Larry Page: $271.1 Billion (Technology)
- Sergey Brin: $250.1 Billion (Technology)
- Jeff Bezos: $246.7 Billion (Technology)
- Larry Ellison: $227.2 Billion (Technology)
A Century of Growth
The rise of the “Hoosier Billionaire” is part of a century-long explosion in private wealth. While John D. Rockefeller became the world’s first billionaire in 1916, it took decades for the list to expand. Today, there are roughly 3,000 billionaires globally, with the vast majority of U.S. wealth concentrated in the technology and finance industries.
As Indiana continues to grow its tech and bioscience sectors, economic analysts are watching to see if the state’s exclusive billionaire club will welcome new members in the coming years.
