Updated Jul 10, 2014 - 8:15 pm
3 Arizona families make Forbes list of richest American families
PHOENIX -- Forbes magazine has a new list and three Arizona families have made the cut.
Forbes has created the first annual list that features the 185 richest families in America, and before you think you know who's on it, think again.
According to the Phoenix Business Journal, Forbes "purposefully left out self-made entrepreneurs who founded their companies and who already appear on the Forbes 400 with their nuclear family."
So that means no Bruce Halle, founder of Discount Tire, or Rob Walton, the chairman of Walmart, who spends part of his time in Paradise Valley.
Instead, the list showcases the Schoen family, who founded U-Haul. They ranked No. 39 with a wealth of $6.8 billion.
The University of Phoenix and Apollo Group's Sperling family came in at No. 108 with $2.1 billion.
Rounding otu the list is the Stewart family of Services Group of America. They are worth $1.2 billion, making them 164th on the list.