Gym Teacher-Turned-Hotelier Gary Tharaldson Becomes North Dakota’s First Billionaire

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Gym teacher-turned-hotelier Gary Tharaldson is North Dakota’s 1st billionaire

estimates that the business is worth less than half of Tharaldson’s initial investment.

Tharaldson also picked up land in Nevada, Colorado and Texas, and bought a 13,000-acre aquifer in Arizona, which insiders say could skyrocket in value if he gets a big water-extraction contract. “I go where the business climate is not very friendly to you, because if you get them built, then they produce really well for a long time,” he explains. “This is more of a grind ’em out business.”

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