The richest person in SC for 2025 has lost some of his wealth, Forbes says
What would you do if you had $1 billion?
The richest person in South Carolina doesn’t have to wonder.
Forbes has again compiled its annual list of the richest person in every state. The national publication found billionaires living in all but three states.
Combined, these 54 people are worth a record $2 trillion combined. That’s up $400 billion since last year, Forbes states.
Five states have a new richest person this year — all because one rich resident has overtaken another, not because of high-profile, out-of-state moves.
Missouri is among the states whose wealthiest person changed in 2025. There the richest Black American, IT mogul David Steward of St. Louis-based World Wide Technology, worth an estimated $11.4 billion, surpassed John Morris of Springfield-based Bass Pro Shops, who is worth $9.6 billion.
Meanwhile, the world’s wealthiest woman, Texas resident Alice Walton of the Bentonville-based Walmart empire, is worth $104 billion but remains a distant second behind the world’s wealthiest person, Elon Musk, worth $388 billion, who moved to the Lone Star State in 2020, Forbes states.
So, who is the richest person in South Carolina?
Robert Faith, 61 of Charleston has that distinction with a net worth of $5 billion, Forbes states. However, his wealth is down from $5.8 billion last year and from $5.2 billion two years ago.
Faith is the founder, chairman and CEO of global real estate firm Greystar, which is involved in property and investment management and development services. The firm is based in Charleston and operates more than $240 billion in real estate across five continents, Forbes states.
Faith started out with a job at real estate developer Trammell Crow Co. after studying petroleum engineering at the University of Oklahoma and getting an MBA at Harvard. He became a partner in 1988, but left in 1991 to start investment firm Starwood Capital Partners with a Harvard classmate.
Just two years later, Faith set out on his own and founded Greystar in Houston, Texas.
Below is a list of other top wealthiest people in the Southeast, according to Forbes.
- North Carolina: James Goodnight: Worth $9.8 billion
- Georgia: Bubby Cathy, Don Cathy & Trudy Cathy White: $10.7 billion
- Tennessee: Thomas Frist Jr. and family: $26.8 billion
- Alabama: Jimmy Rane: $1.5 billion
- Mississippi: Thomas Duff & James Duff: $3 billion
- Florida: Jeff Bezos: $206 billion
- Kentucky: Tamara Gustavson: $8.1 billion
- Louisiana: Todd Graves: $17.2 billion
- Arkansas: Rob Walton & family: $113 billion
This story was originally published July 16, 2025 at 6:00 AM.
