Tom Hagen can now call Dr. Dre a colleague.
A rapper, producer and entrepreneur, Dr. Dre recently joined fellow rapper and music mogul Jay-Z in Forbes’ billionaires club, which also features a few members from the mid-Atlantic region.
Hagen, who stepped down as the Erie Insurance chairman earlier this week, has been a mainstay on that list for years, though his net worth fell in the 2026 rankings.
But how much money, exactly, is $1 billion? Here’s how much $1 billion actually is, and who from the mid-Atlantic region has membership to the billionaire club.
How many billionaires live in Pennsylvania?
While Forbes doesn’t list the states in which billionaires live, World Populations Review provides a realtime ranking of billionaires by state, and 10 billionaires — including Jeff Maas, Mars founding family heir and entrepreneur Victoria Mars and Fanatics founder and CEO Michael Rubin— live in Pennsylvania.
For reference, New York is home to 93 billionaires, the second largest number behind the 124 billionaires who live in California.
How much is $1 billion?
One billions dollars is an amount of money the great majority of humans will never have, let alone see.
In the simplest terms, $1 billion is $1 million times 1,000.
To look at it another way, it would take hundreds of generations for a persons family to save up to reach $1 billion, and that’s if they saved $100 every day, according to to the University of California.
“Let’s say that you are trying to save $1,000,000,000 dollars and you are able to save your money at a rate of $100 per day. 1,000,000,000 divided by 100 (dollars saved per day) = 10,000,000 days. 10,000,000 days divided by 365 (days per year) = 27,397.26 years to reach $1 billion,” read University of California’s $1 billion breakdown. “It will take a pretty long time to reach your goal! In fact, you would never get there in your lifetime. Nor would your children, grandchildren or great grandchildren.
“If you, and one descendent per generation, saved $100 every day, and each of you lived for 90 years, it would take you and 304 generations of your descendants to save up one billion dollars.”
How many billionaires live in other states
It appears billionaires don’t favor the mid-Atlantic region. According to World Population Review’s data, here’s how many billionaires live in northeast:
Damon C. Williams is a Philadelphia-based journalist reporting on trending, breaking and service-related topics across the Mid-Atlantic region for the USA Today Network.
This article originally appeared on Asbury Park Press: Which billionaires live in Erie or PA?