Thu
Jul 1 2010
09:01 am

wealthy, at least, in terms of money.

here's the list.

244
like
bizgrrl's picture

Darn, once again I didn't

Darn, once again I didn't make the list.

R. Neal's picture

Jim Haslam is a piker. (I

Jim Haslam is a piker.

(I think that list is a little out of date, though. I'm guessing Clayton has moved up some.)

Bbeanster's picture

Betcha if they took the

Betcha if they took the Haslam family's aggregated dough into consideration instead of just looking at Big Jim's individual wealth they'd be moving on up.

citizenX's picture

I WONDER...

I wonder why Alan Jones, owner of numerous loan shark Pay Day lending outlets in Tennessee, is not on the list? I'm told he has so much money he has a regulation size football field on his property. Even has bleachers, lighting and a scoreboard.

Bbeanster's picture

Jones is #19. Pete DeBusk

Jones is #19.

Pete DeBusk should be on there, though. I think they have a hard time estimating his income because DeRoyal is privately held. He recently told a reporter that it was bringing in around a billion a year.

He has the largest house in Tennessee, I think.

metulj's picture

I know that DeBusk has a

I know that DeBusk has a mixed record among some folks, but that's one guy who puts his money where is mouth is. I don't know much about the quality of LMU as a school (that is not an aspersion; I just don't know), but DeBusk is following in a great TN tradition of taking care of a college or university. McGlothlin, on that list, has given scads of money to my alma mater.

Pam Strickland's picture

LMU is a pretty good little

LMU is a pretty good little school. It's not an Emory and Henry, but I would rank it better than Carson Newman or Tusculum easily. My nephew went there, and got good mentoring in his field -- broadcast communications. Came out with a good job and a good network. He's moved up pretty well too. -- even considering the slack economy the last few years.

michael kaplan's picture

how do they estimate incomes

how do they estimate incomes of persons owning privately-held businesses? are income-tax filings public documents?

metulj's picture

Percentage of market share in

Percentage of market share in the industry in which they participate. If the health care supply industry is $1 billion dollar business, then Debusk is worth X percent of that business with some additions and subtractions along the way. It's definitely a black art.

Rachel's picture

I think that was just the

I think that was just the largest house in Knox County. I could be wrong tho.

Bbeanster's picture

Pretty sure DeBusk's is

Pretty sure DeBusk's is Tennessee's biggest house. I think he planned it that way, even adding square footage to make sure. Don't know if the lodge is counted as part of the residence, but the thing's a monster.

Lisa Starbuck's picture

Funny

Here's a true story about the DeBusk house . . .

A girlfriend and I were riding down Cunningham Road one day with a carload of five, six and seven year-old little girls, heading to soccer practice.

As we drove past the DeBusk mansion, one of the five year old's piped up, "I know who lives in that house."

Thinking she might have actually been there for some reason or the other, I replied, "Oh really, who lives there?"

"A giant," she replied confidently, ensuing much hilarity in the car. Every time I drive past that house, I crack up thinking about it.

michael kaplan's picture

it's amazing that 5-, 6- or

it's amazing that 5-, 6- or 7-year-olds would be sensitive to architectural scale, but there you have it ...

metulj's picture

True, but sensitive isn't the

True, but sensitive isn't the same as critical, remember.

Lisa Starbuck's picture

Scale

If you've ever seen the house, you'd know why she made the comment. All the surrounding homes are normal sized houses, not even really that upscale, then you come upon this gigantic mansion (some would say monstrosity) that sticks out like a sore thumb. It's so out of place even a five-year-old notices it!

michael kaplan's picture

the net worth of tennessee's

the net worth of tennessee's 20 wealthiest comes to around $20 billion, while the state's budget for 2011 is $30 billion. maybe the 20 wealthiest could voluntarily pay a state income tax of 5% which would generate around $1 billion. that might help keep some folks on tenncare which is budgeted at $2.7 billion for 2011.

i'd also be curious to know what those 20 wealthiest would do otherwise with that 5% ...

R. Neal's picture

You seem to be confusing net

You seem to be confusing net worth with income.

michael kaplan's picture

you're right, my error. that

you're right, my error. that raises new questions: how are these approximate numbers arrived at in the first place? what are the incomes of the 20 wealthiest? how much of this income is tax-sheltered?

my point was intended to be: couldn't the 20 (or 100) wealthiest tennesseans voluntarily pay a state income tax to support needed services?

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