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Quincy – What do Kim Kardashian, Rihanna, Elon Musk and Rob Hale have in common? They made this year’s Forbes World’s Billionaires List.
Founder and CEO of Quincy-based Granite Telecommunications, Mr. Hale was named one of the world’s top billionaires by Forbes. He ranks him #951 on his list of 2,578 people with an estimated net worth of $3.2 billion.
As of Friday, he was ranked the 999th richest person in the world in a list that changes daily
Question-and-answer session: Quincy CEO Rob Hale Talks Quincy Development, Philanthropy and Building a Lasting Legacy
Forbes’ annual list of billionaires worldwide was released on Tuesday, listing 2,668 billionaires around the world.
Hale was one of 44 new members to join the Forbes 400 list last fall. It all started when the magazine featured a Commencement speech he gave at Quincy College last spring. At graduation, he gave each of his 490 alumni his $1,000 in cash. I gave $500 to myself and $500 to organizations and individuals who “needed it more than they did.”
“I think charity is a very good way to do that if you are going to be discovered. Most of these numbers are estimates. No, but no, I wasn’t expecting that. Hale spoke of his inclusion on the list of millionaires.
The total net worth of the world’s HNWIs fell by $400 billion between 2021 and 2022, and 87 fewer this year. Forbes cited the war between Russia and Ukraine, the COVID pandemic, and a weakening market as reasons for the decline in billionaire numbers.
The country with the most billionaires remains the United States with 735, followed by China with 607.
Tesla and SpaceX founder Elon Musk has topped the Forbes list for the first time ever with a net worth of $219 billion. More than half of the top 10 billionaires have made their fortunes in the tech sector.
Forbes Billionaire 2022: Elon Musk tops the list of billionaires in the world
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Despite being often called the pride of Quincy, the North Andover native Hale bought Granite Telecommunications in 2002, less than six months after his former company, Network Plus, filed for bankruptcy. was established.
When Network Plus went public, Forbes listed Hale as the 7th richest person in the world under the age of 40.
“I will never forget it. We grew up in a generation where Grove and Leisure was in our driveway every day. When we were successful, (The Boston Globe) called me a ‘boy millionaire.’ I was at it,” Hale said in an interview with Patriot Ledger last year. “And as I was steering the ship toward bankruptcy rock, they called me an ‘Arrested Boy Billionaire.’ Those wounds heal, but they are permanent.” , after all, that failure was one of the most decisive moments.
Today, Granite is a $1.5 billion company that provides voice, data and other communications services to more than two-thirds of the 100 largest companies in the United States. Granite was recognized for the fifth time this year in Forbes America’s Best Employers annual ranking, was included in the list of Best Employers for Publication Diversity, and was named by the Boston Business Journal Massachusetts. It has long been ranked among the top three most philanthropic companies in the United States.
“In the last five years, we put plus or minus $150 million into our community. Before the pandemic, we put 15,000 manpower hours into our community,” Hale said Friday. “The culture, philanthropy and compassion of the community are very important and I am very proud of that.”
Hale is nationally known for her philanthropic work, particularly associated with cancer research organizations. His company hosts an annual “Shaving by Shaving” fundraising event for employees, raising millions of dollars each year for Dana Farber. The Hale Family Center for Pancreatic Cancer Research was founded in his 2016, and Forbes credits Hale for donating more than $259 million of his money to cancer research, educational institutions and other philanthropic causes. increase.
“I think we feel so lucky, Karen and I, and Maya Angelou said, ‘Who has so much given and much is expected?'” Hale said. rice field. “We feel lucky here. If we can help, we hope to.”
Hale is also the owner of Quincy’s real estate firm, FoxRock Properties, which has several major projects that are changing the look of the city.
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Please contact Mary Whitfill at mwhitfill@patriotledger.com.
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