Bloomberg Billionaires Index

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# 273 Patrick Ryan $7.98B

Random fact: When he was 16 he was fired from his job on a sewer crew.

Overview

Ryan is the founder and chief executive of Ryan Specialty Group, a wholesale insurance broker. The Chicago-based company began in 2010 and reported revenue of $1.4 billion in 2021. Ryan's also the founder and former chief executive of Aon, the world's second-largest insurance broker with revenue of $12.2 billion in 2021.

As of :
Last change -$19.0M ( -0.2%)
YTD change +$506M ( +6.8%)
Biggest asset RYAN US Equity
Country / Region United States
Age 85
Industry Services
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Patrick Ryan's net worth of $7.98B can buy ...

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troy ounces of gold
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barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Ryan's fortune is derived from his stake in Ryan Specialty Group Inc, a provider of insurance for brokers, agents and insurance carriers. He owns about 49% of the company, according to its 2022 proxy statement.

Cash investments are largely derived from his previous holdings in Aon, a risk and insurance brokerage services firm. He owned at least 12% of Aon in 1996 and by 2010 had sold most of his stake, according to proxy filings with the Securities and Exchange Commission. The value of his cash holdings is also based on an analysis of dividends, insider transactions, taxes, market performance and charitable giving. 

Alice Topping, a spokesperson for Ryan Specialty Group, said Ryan declined to comment on the net worth calculation.

Biography

Birthdate: 5/15/1937
Family: Married, No children
Education: Northwestern University

Patrick G. Ryan founded what would become Aon PLC, a multinational insurance intermediary, in 1964 as a small insurance agency. The business was renamed Ryan Insurance in 1970 and focused on providing advice, consulting services and insurance products to the auto industry, according to a March 2008 Insurance Journal report.

Ryan Insurance expanded through a series of acquisitions and mergers and in 1987 renamed itself Aon Corp. Ryan stepped down as chief executive officer in 2008.

In 2010, he founded Ryan Specialty Group, a holding company that provides insurance solutions.

In September 2021, Ryan gave his alma mater Northwestern University $480 million, the school's largest donation ever, according to a student newspaper report.

Milestones
  • 1938 Patrick G. Ryan is born in Milwaukee, Wisconsin.
  • 1964 Starts Pat Ryan & Associates to sell insurance to auto dealerships.
  • 1982 Ryan Insurance Group merges with Combined International Corporation.
  • 1987 Combined International Corporation changes its name to Aon Corporation.
  • 2008 Ryan retires from Aon.
  • 2010 Ryan launches Ryan Specialty Group.