This CEO is the only Idaho member of Forbes’ 400 Richest People in America list

One man stands alone in Idaho as the wealthiest in the state as reported by Forbes.

The magazine recently reported that Frank VanderSloot of Idaho Falls ranked 354th on its 400 Richest People in America list.

VanderSloot’s current net worth is $3.3 billion, up from last year when it was $2.9 billion, Forbes’ cutoff to make the list. The billionaire’s current net worth is down substantially from 2019 when VanderSloot’s net worth was $4.2 billion.

According to Forbes, “After losing a collective $500 billion last year, the nation’s 400 wealthiest people have gained it all back. This elite set is now worth $4.5 trillion in aggregate, tying a record set in 2021, and it takes $2.9 billion to make The Forbes 400, another tied record. Half the gains came from rebounding technology stocks. Eight tech moguls added $10 billion or more to their fortunes.”

Forbes used stock prices from Sept. 8 to calculate the net worths.

VanderSloot made his fortune from nutrition and wellness products, having founded Melaleuca, which produces more than 450 items. The products are sold directly to consumers through an online presence. He also runs a purebred angus cattle operation.

He received a “self-made score” of 10 from Forbes and a “philanthropy score” of three in the magazine’s ranking.

VanderSloot owns about 117,500 acres of land throughout Idaho, Montana and Utah, and actively donates millions politically to members of the Republican party.

According to biographical information from Forbes, he was born into poverty, running the family farm while his father worked a railroad job. VanderSloot lived in a laundromat to help pay his way through school, and he earned a bachelor’s degree from Brigham Young University.

VanderSloot is married and has 14 children.