A strong performance for Erie Insurance stock is typically good news for Thomas Hagen, the company's chairman, who owns about a third of the company's outstanding shares. The rising value of the company's stock explains the rising net worth of 87-year-old Tom Hagen, who was honored recently when Erie City Council named a block of West Sixth Street in his honor for his work in historic preservation. More:There's a new street name in one of Erie's oldest neighborhoodsRanked by ForbesWhen Forbes magazine recently announced its annual list of the world's richest people last week, Hagen ranked 951st among 2,668 billionaires worldwide. His net worth of $3.2 billion was calculated as of April 5 of this year. Amazon founder Jeff Bezos ranked second with a net worth of $171 billion.

Source: Forbes October 12, 2022 02:18 UTC