Do any billionaires live in Idaho?

Do Any Billionaires Live in Idaho? A Look at the State’s Ultra-Wealthy

If you’re wondering, “Do any billionaires live in Idaho?”, the short answer is: yes — Idaho is home to at least one billionaire, and probably a few more depending on how you measure net worth, residency, and private wealth. In this post, we’ll explore who they are, where they live, and what defines a “billionaire” in Idaho. We’ll also touch on how many ultra-wealthy Idahoans there are, and what that means for the state.

What Counts as a Billionaire and Why It Matters

Before we dive in, let’s clarify:

• Billionaire typically means a person whose net worth is at least US$1 billion. That includes assets like stocks, business ownership, real estate, etc., minus liabilities.

• Residency can be tricky: someone may own property here, have business interests, or spend time in Idaho, but still claim residence elsewhere. For the purposes of this article, we’ll focus on people publicly reported as being residents or having homes in Idaho, and whose wealth has been valued by credible sources (e.g. Forbes, Stacker, etc.).

Who Is the Known Billionaire in Idaho?

Frank VanderSloot

• Name: Frank L. VanderSloot 

• Net Worth: Around US$2.9-$3.4 billion depending on measure and timing. 

• Source of Wealth: He is founder and CEO of Melaleuca, Inc., a wellness, nutrition, and household products company based in Idaho.

• Residence: Idaho Falls, Idaho. He is widely considered the richest person residing in Idaho. 

So if you want a name, VanderSloot is the leading confirmed billionaire living in Idaho as of recent reports.

Other Wealthy Individuals Often Mentioned in Idaho

While VanderSloot is the most consistent, verifiable “billionaire resident,” there are some others often cited in discussions of Idaho’s top wealthy:

• Scott Simplot (formerly / currently): Member of the Simplot family (J.R. Simplot Co.), an agricultural and food production company headquartered in Boise. He has been listed among Idaho’s wealthiest.

• Harry Bettis: Founder of Clearwater Analytics, based in Boise, also listed in some reports among Idaho’s ultra-wealthy, possibly with billionaire status depending on valuation.

However, for these individuals, the public sources sometimes differ on whether their net worth is over the $1B threshold and whether they are full‐time Idaho residents. That means VanderSloot is the only one clearly meeting all the criteria in most sources.

How Many Billionaires Does Idaho Have?

From available data:

• Idaho appears to have at least one confirmed billionaire (VanderSloot). 

• Some sources list more than one person with potentially billionaire-level net worth in Idaho, but often those are estimates, private company valuations, or include individuals who split time across states. For example, Scott Simplot shows up in earlier rankings. 

• According to a recent update from Forbes, VanderSloot is the only Idahoan currently on the Forbes 400 richest Americans list.

So, while the number may fluctuate slightly depending on asset valuations, Idaho has one solidly verified billionaire resident, and possibly a small handful more depending on source.

Why Idaho Has Relatively Few Billionaires

Several reasons contribute to why more billionaires don’t call Idaho home (at least officially):

1. Industry Concentration & Scale
   The biggest sources of wealth in many billionaire households—big tech, finance, international holdings—are less centered in Idaho compared to, say, California, New York, Texas, or Washington. Idaho’s economy is strong, but tends to be more focused on agriculture, small and medium businesses, natural resources, tourism, and growing tech in specific clusters rather than major global platforms.

2. Privacy & Residency
   Some wealthy individuals own property in Idaho or spend part of their time here (e.g. in Sun Valley, Coeur d’Alene) without making it their official tax/legal residence. Whether you “live” somewhere is often defined by tax filings, domicile, etc. That means some people with property may not show up in lists of state-resident billionaires.

3. Valuation & Disclosure
   Much wealth is private: ownership in private companies, land, assets not traded publicly. Estimating these values is difficult and often inconsistent. As a result, some Idahoans may in fact have wealth over $1B but are not publicly counted because of privacy or lack of transparency.

What This Means for Idaho

• Having a billionaire or two can bring visibility, philanthropy, and investment to the state. For example, Frank VanderSloot has been active in Idaho politics, education, business, and community projects. 

• Regions like Sun Valley already are known for attracting ultra-wealthy visitors and seasonal residents. That can influence real estate prices, luxury demand, and local economic development.

• But Idaho remains broadly middle class in many areas, with much more limited inequality (though rising) compared to states with many billionaires.

Key Takeaways

• Yes, there are billionaires in Idaho. Frank VanderSloot is the clearest example.

• There may be others depending on definitions and asset valuations, but VanderSloot is the only one consistently recognized in sources like Forbes as a resident.

• Idaho’s economy, while growing and increasingly diverse, doesn't produce or attract as many billionaires as some more populous or globally connected states.

• Private wealth estimates vary, so counts of billionaires can change with stock markets, private company valuations, and disclosure.