Rhode Island's 50 Wealthiest and Most Influential - 2022 Edition

#50 Michael McNally, Commerce RI Board Member and Consultant

Mike McNally was a major player in the United States in the construction industry for one of the biggest global players.

McNally retired as one of nine members of Skanska’s senior executive team responsible for the company’s $20 billion global construction and development operations. 

While he was president and CEO of Skanska USA, it grew to be one of the largest construction/development companies in the U.S. with annual revenues in excess of $7 billion.

Today, he is more Rhode Island-focused.

He has served on the Commerce Corporation board for a number of years and was appointed by then-Governor Gina Raimondo.

This year he became very active and led the fight against the proposed Pawtucket soccer stadium.

Previous to his retirement, he served on a number of high-profile boards including the U.S. Chamber of Commerce’s “Let's Rebuild America” leadership committee.

He also served as a member of the board of directors at Granite Construction, Terracon Consultants, and Limbach Holdings. He is on the URI President’s Advisory Council.

#49 Ashley Kalus, Businesswoman, GOP Candidate for Governor

Make no mistake about it, Ashley Kalus and her plastic surgeon husband Jeffrey Weinzweig have deep pockets.

They have loaned her campaign for governor nearly $4 million and the final numbers are not yet in.

She is the biggest self-funder since Bruce Sundlun's four campaigns for the governorship in the 1980s and 1990s.

Kalus and her husband own multiple properties in Illinois and Florida, according to her Rhode Island Ethics Commission financial disclosure statement.

The couple also has ownership interests in more than a half dozen companies in Florida, Illinois, and Rhode Island. 

Win or lose -- Kalus will be a factor in the future of Rhode Island. 

#48 Richard Baccari, Churchill & Banks

The mega-developer has put together a massive collection of projects throughout the region.

Baccari has been one of the biggest builders of shopping centers in the northeast — especially for Stop and Shop.

He is a big-time donor in Rhode Island and Massachusetts.

Baccari is a significant backer of Massachusetts Governor Charlie Baker, and has given to Rhode Island Republicans like Bob Flanders who ran for the United States Senate four years ago against U.S. Senator Sheldon Whitehouse and supported GOP Congressional candidate Michael Riley who challenged Jim Langevin in 2012.

One of his largest projects is the residential Kettle Point in East Providence.

Baccari has previously announced that he would be handing over the reins of the development company to his son, Richard, Jr.

His portfolio of retail, office, residential and commercial properties are many of the most significant projects around the region. 

#47 Habib Gorgi, Owner of Worcester Red Sox, Former Managing Partner, Nautic Partners

Providence-based Nautic Partners quietly became a significant mid-sized private equity firm in the United States.

Gorgi and partner Bernie Buonanno built the Fleet Bank spinoff into a major player.

Mega-firm Blackstone bought a major stake in Nautic in 2021 and at the time, the firm managed $7.7 billion.

Blackstone has more than $941 billion under management.

According to industry research firm Preqin's 2021 ranking, Nautic ranked as the eighth most consistent top-performing buyout fund manager in the world. Three of its funds were ranked in the top quartile, a critical measurement in the private equity industry.

Now, Gorgi is an advisor to Catalyst Health Ventures in Boston.

Gorgi was part of the ownership group that bought the PawSox, a Rhode Island institution from Ben Mondor’s widow and packed up the team, and moved it to Worcester.

PHOTO: Catalyst Health Ventures

#46 Patrick Rogers, Managing Partner 

In 2022, Pat Rogers was named managing partner at Hinckley Allen -- one of the region's largest law firms.

“It’s an honor to work at Hinckley Allen and I’m excited to serve as Managing Partner,” Rogers said. “We have an incredible group of lawyers and staff – and most of all – loyal and satisfied clients who put their trust in us to handle their most important legal matters."

Rogers has a big political reach. 

He was an aide to U.S. Senator John H. Chafee and later served as Chief of Staff and Executive Counsel to Governor Lincoln Chafee.

He was a Peace Corps volunteer in Gabon.

“Our lawyers and team members continue to deliver impressive results for our clients,” said outgoing Managing Partner David Rubin. “Knowing that I was stepping down from my role as Managing Partner, the firm started a thoughtful transition process -- led by a Managing Partner Succession Committee -- to identify our next leader and ensure a seamless transition.  We are all confident that Pat has the skills, experience, and vision to help lead the firm into the future.  He has the full support of our lawyers and staff, including the Executive Committee and Practice Group leadership.”   

At Hinckley Allen, Rogers served as an Executive Committee member and Chair of the firm’s Corporate Department. Rogers is a graduate of LaSalle Academy, the College of the Holy Cross, and Catholic University Law School. 

#45 Matthew Lopes, Pannone Lopes Devereaux & O’Gara

Lopes has become a national expert in resolving the most complex prison issues in America.

Lopes is a nationally recognized Special Master for the U.S. District Court for the Eastern District of California, in the matter of Coleman v. Newsom, overseeing prison reform and compliance with orders of the Court concerning care of seriously mentally ill inmates.

His experience in court oversight of correctional systems extends back over decades of continuous work in the area of court-ordered prison reform, as a special master, deputy special master, and court monitor, in three additional major remedial correctional cases under the supervision of the United States District Courts of Texas, Georgia, and Rhode Island. 

He assists the court in directing the treatment of more than 30,000 mentally ill prisoners throughout the 34 institutions within the California prison system. 

In addition, he manages a major government relations practice in Rhode Island.

Lopes is a Rhode Island success story — a 9-time all-state athlete at East Providence, a star athlete at Dartmouth University, and now, one of the state's wealthiest and most influential. 

#44 Neil Steinberg, President, Rhode Island Foundation

In 2021, GoLocal unveiled that Rhode Island Foundation's Neil Steinberg oversees a comparatively small staff and the foundation he leads is a small fraction of the size of the Ford Foundation -- and he receives $1.1 million in total compensation equal to the compensation of the head of the Ford Foundation -- Darren Walker. The source of that data the RI Foundation's tax documents for the year 2019 filed by the non-profit.

The difference is the Ford Foundation is arguably one of the most influential foundations in the United States.

The previous year, Steinberg received $812,112.

There are approximately 1,100 community foundations across the country. His compensation is unmatched for a foundation of its size.

The Foundation defended the compensation structure.

"Years ago, the board of directors determined that Neil’s leadership was a crucial component of the Foundation’s long-term plan, and so implemented a deferred compensation plan that would reward him for continued success at the Foundation. The benefit of deferred compensation is accruing over many years, and will eventually be distributed. This has clearly turned out to be one of the best decisions the board has ever made,” said Brooks Wall, a former executive at the Royal Bank of Scotland.

Steinberg has announced he will step down next year.

PHOTO: Pawtucket Hall of Fame

#43 Peter Marino, CEO of Neighborhood Health Plans of RI

Marino is one of the biggest players in one of RI’s biggest industries - healthcare.

In 2020, Neighborhood Health Plans did more than $1.4 billion in healthcare services. 

Marino started his tenure as President and CEO at Neighborhood in September 2014. In 2013, Neighborhood did less than $400 million

And with Care New England and Lifespan losing nearly $50 million in a quarter and without a permanent CEO, Marino influences a major portion of the market.

He previously was the director of the Rhode Island Office of Management and Budget.

And before that, he was the Rhode Island Senate Fiscal Advisor, Director of Research and Policy for the Providence-based RDW Group, and Director of Policy and Municipal Affairs for the Rhode Island Public Expenditure Council (RIPEC).

He serves as chair of the board of directors for the Rhode Island Quality Institute, immediate past chair of the board for the Northern Rhode Island Chamber of Commerce, and holds several board seats, including the Rhode Island Community Food Bank, RIPEC, AMICA and the Association for Community Affiliated Plans (ACAP). 

#42 Joe Shekarchi, Lawyer, Speaker of the House

Joe Shekarchi is going into his third year as Speaker of the House - arguably the most powerful position in Rhode Island government.

And, he has a significant legal practice. 

His real estate holdings include a minority interest in an elderly housing complex in Connecticut and in the Boiler House, Crown Plaza in Minnesota.

He ran Gina Raimondo's first campaign -- General Treasurer in 2010. And has close ties to a number of prominent Democrats. 

Add to that his campaign account has more money than any other state office candidate.

#41 Charlie Townsend, Bluewater Wireless II

Ever tap into the wireless on an airplane? The provider is almost always Gogo and Townsend is on the board of the company.

Rhode Island’s Townsend, who is everything wireless, sold Aloha Partners for $2.5 billion.

In 2014, Townsend's Aloha Partners II sold part of its spectrum portfolio to AT&T. The acquired licenses cover almost 50 million people in 14 states, including California, Colorado, Connecticut, Idaho, Illinois, Indiana, Kentucky, Maine, Massachusetts, New Hampshire, New Jersey, Ohio, Pennsylvania, and Texas.

He has served on the Board of Directors of CTIA – The Wireless Association since 1988. 

Townsend currently serves as the Managing General Partner of Bluewater Wireless II, L.P.

Townsend is a graduate of the University of Virginia and Harvard Business School.

PHOTO: Wireless Foundation

#40 Raymond Mancini, Sr., Chairman, Mancini Beverage

If you live in Rhode Island and enjoy a Ketel One and tonic or Johnny Walker Black, then you probably have a connection to Raymond Mancini, Sr.

His Mancini Beverage company is one of the region’s largest liquor distributors and has been a wildly successful company.

He and his son, Raymond, Jr., are significant political donors both in Rhode Island and nationally.

Mancini is one of the few on this list who served in the military — he served in the United States Army, where he trained and mobilized for the Cuban Missile Crisis and the construction of the Berlin Wall.

The senior Mancini has served on a range of boards of several non-profits, including Roger Williams Hospital and Boston College Law School. He is also a member of the La Salle Academy Hall of Fame.

He holds a BA and MBA from Boston College. Raymond has four children and ten grandchildren.

#39 Samuel Mencoff, Brown University and Madison Dearborn Partners 

Samuel Mencoff is a founding partner and Co-CEO of Madison Dearborn Partners, one of the nation's leading private equity investment firms. He is reported to be worth a billion dollars.

He splits his time between his firm in Chicago and Rhode Island. He owns a major property in Newport -- a premier estate on Bellevue Avenue.

The firm has more than $23 billion under management and has invested in companies like XM, Univision and PayPal to name a few.

He was elected Brown's 21st Chancellor in 2016, after having served on the Corporation as a Fellow since 2009. Previously he served on the Board of Trustees from 2003 to 2009.

He is a Co-Chair of the BrownTogether campaign and chairs the Corporation's Committee on Trustee Vacancies. 

He has been a prolific fundraiser for Brown and in 2018, he made a major donation.

Brown University’s Warren Alpert Medical School received a $50 million gift from Mencoff and his wife Ann to help turn biomedical research and discovery into treatments and cures for disease.

In 2020, Mencoff’s emails about Brown’s commitment to Title IX became an embarrassment for the University.

He plays at a national level, serves as a Commissioner of the Smithsonian Institution's National Portrait Gallery, and is a director of Packaging Corporation of America, World Business Chicago, NorthShore University HealthSystem, and Vice Chairman of the Board of Trustees of the Art Institute of Chicago.

#38 Charles Royce, Royce Funds/Ocean House/Weekapaug Inn

Billionaire Chuck Royce has made a profound impact on Rhode Island’s hospitality industry by restoring and dramatically enhancing two of the most historic and unique Victorian properties in the state.

He is known as one of the pioneers of small-cap investing.

He has invested tens of millions in developing the Ocean House in Watch Hill and transformed the Weekapaug Inn into brimming expressions of Victorian architecture.

The Ocean House has been a magnet for bringing wealthy New Yorkers to Watch Hill for the weekend and then converting them to summer home buyers.

Royce holds a bachelor's degree from Brown University and a Masters of Business Administration from Columbia University.

He has been a major donor to Brown and funds the Royce Fellowship at Brown.

PHOTO:  Royce Investment

#37 Bernie Buonanno, III, Founder of Nautic Partners, Commerce RI Board

Bernie Buonanno likes to fly under the radar, but 2022 put him front and center.

An accomplished private equity financier — he and Habib Gorgi (#47 on the list) built Nautic Partners into a significant player in private equity and functionally cashed out in a deal with finance behemoth Blackstone.

Then, as a member of the RI Commerce Corporation board (a Raimondo appointee), Buonanno took on Governor Dan McKee and opposed his financing deal for the highly controversial Pawtucket soccer stadium, all while his sister — Helena Foulkes —  was running against the governor.

Add to it his father is the chair of the Convention Center Authority and Helena’s husband (Bill Foulkes) serves on the state’s Board of Education, and Buonanno's circle is at the epicenter of wealth and influence in Rhode Island. 

If the family tree was not juiced up enough, his uncle is former U.S. Senator Christopher Dodd (D-CT). And his grandfather Tom Dodd (D-CT), was also a U.S. Senator.

#36 Christina Paxson, President of Brown University

Build, build, build.

Under Christina Paxson, Brown University has been in expansion mode, buying and building structures across the city.

To fuel the growth, Brown has embraced the Wall Street barons to populate the corporation and fund the strategy.

Fraser Lang, an active Brown alum, wrote about the change in recent years:

I had the privilege of serving as an alumni trustee of Brown and have had the additional perspective of residing in the neighborhood. I was surprised to see that the current 53-member Brown Corporation includes only four members with Rhode Island addresses; Brown’s president, Christina Paxson, is among them. 

It makes sense that Brown, a global institution, would reflect that geographic diversity in its leadership. However, it also means that the vast majority of Corporation members will not have to live with the ramifications of Brown’s building decisions. 

Under Paxson, Brown has remained an "also-ran" in the Ivys, however, falling in a number of key rankings.

Despite the effort to improve the school's research capabilities and reputation, it failed again to make the list of the top 100 universities in generating patents. The University of Massachusetts and Rutgers University rank prominently.

Hard to be a research leader with little IP.

Her influence in Rhode Island does not match that of her predecessors at Brown. The merger between Lifespan and Care New England, funded in part by Brown, failed regulatory review.

Within the Rhode Island community, she has been aloof — she stands in contrast to preceding Brown Presidents Howard Swearer, Vartan Gregorian and Ruth Simmons. (Gordon Gee, we barely knew you.)

PHOTO: Brown University

#35 Ted Shallcross, CEO of Amica

Ted Shallcross was named the company's Chief Executive Officer and President this year.

He succeeds Bob DiMuccio, who is retiring after 31 years, including 17 as CEO. 

DiMuccio said, "I've worked with Ted for the past 15 years. During that time, he has shown himself to be a steady, objective and empathetic leader. I fully support his appointment as Amica's next CEO, and look forward to working with him over the next six months as he transitions into his new role. I retire from Amica knowing that the company is led by a Board and CEO who understand its culture and values, and who are ready to face the challenges ahead."

Shallcross is a veteran of the company but brings new energy to a business that just 25 years ago allowed male workers to only wear blue or white button-down shirts.

Shallcross, once in office, signed up to take the naming rights for the Providence Civic Center.

The Dunk is no more — the downtown stage, court, and rink is Amica now. 

You'll be seeing your next monster tractor pull at the Amica Mutual Pavillion.

#34 Arnold “Buff” Chace, Developer, Managing Partner Cornish Associates

Buff Chace has been a driving force in creating a new urban living experience in downtown Providence over the past 30 years. 

He has led the redevelopment of the Westminster Street area — de facto creating a neighborhood within the city. 

And, he has done it with significant public subsidies — federal and state historic tax credits and unparalleled tax stabilization deals with the city of Providence.

One of his most recent projects is the 170,000-square-foot Providence Journal Building in which he requested a major decrease in the tax assessment as well as a tax stabilization. 

Presently, he is in the middle of litigation with his cousin and brutal allegations are flying. GoLocal unveiled the legal fight in April.

Buff is currently the chairperson of the Downtown Providence Parks Conservancy and a member of the Executive Committee of the Providence Foundation, as well as an inaugural member and Fellow of the Congress for New Urbanism. In addition, he is a director emeritus for GrowSmart RI and a trustee emeritus of Trinity Repertory Theatre.

#33 Malcolm G. Chace, Jr., Managing Partner, Canton Hathaway

Chace is a co-founder of the investment firm Canton Hathaway. 

He is in the midst of a major legal fight with his cousin Arnold “Buff” Chace -- a battle that GoLocal was first to unveil in April. 

The legal proceedings are expected to go on into late 2023 or 2024.

Chace has been an investment professional and portfolio manager for over 20 years, starting at Scudder, Stevens & Clark in Boston and later working at the Providence Investment Advisory Group.

In 1999 he was a founder of the Providence office for Baldwin Brothers, Inc., managing over $500 million in assets for high net-worth individuals and institutions.

In 2008 he joined Oppenheimer & Co. Inc. as a Managing Director and Portfolio Manager and, most recently, was a Portfolio Manager at WhaleRock Point Partners, LLC.

He is a board member of The Providence Center, Meeting Street School, and Dromoland Castle (Ireland). He is an overseer at Colby College, and serves on the Investment Committee at Sophia Academy.

#32 Terry Murray, Former CEO of Fleet Bank

Terry Murray, who grew up in Woonsocket, orchestrated the merger between Bank Boston and Fleet Boston to create the seventh-largest lender in America before being bought by Bank of America.

GoLocal in 2021 wrote a feature about the Mount Saint Charles Academy football team of the 1950s, featuring a group of young men who would go on to a range of careers.

One became one of the most notorious organized crime killers.  One of the players went on to one of the most storied careers as a journalist. And another of the boys became one of America’s most successful bankers.

Murray attended Mount from his freshman year through part of his junior year.

“My father pulled me out for being a wise guy and made me get a job in a mill -- Bonin Spinning Mill. I worked there for most of the next year from 11 PM until 7 AM," Murray told GoLocal. 

After sitting out a year from school -- not exactly a "gap year," said Murray -- he went on to Providence Country Day and then to Harvard University.

Murray later went on to build a small Rhode Island bank, and through organic growth and a series of mergers, turned it into a national powerhouse.

Ultimately, Fleet Bank became the ninth-largest bank in the U.S. and merged with Bank of America in 2003.

He is one of two Rhode Islanders who belong to Augusta National.

#31 John Picerne, Founder and Chair of the Board of Corvias

With more than 30 years of professional real estate experience, Picerne developed Corvias into a major player in institutional housing.

It started in 1998, when he founded Picerne Military Housing with the goal of significantly improving housing for U.S. service members.  That portion of the business, however, came under fire.

Picerne’s Corvias has secured contracts with the United States Army that will generate $1 billion in fees.

At the United States Senate Armed Services Committee hearing in 2019, the families of members of the U.S. military told story after story of the substandard housing owned and maintained by the Rhode Island company.

All the while, Picerne was been buying mansions and castles in Florida, Ireland, and Rhode Island.

Families provided reports of overcharging, deplorable conditions, failure to maintain housing and, de facto, endangering children with health conditions.

Corvias is one of the private military housing companies most cited for deplorable housing conditions.

“Our military families do not deserve this after all the sacrifices they make…it is criminal. It is unbelievable the extent of this cover-up,” testified Janna Driver, the wife of an active-duty Air Force service member and mother of five children, according to Stars and Stripes.

Picerne has been a major donor to both national and Rhode Island elected officials over the past two-plus decades — he has donated hundreds of thousands and Rhode Island’s Senators and Congressmen have collectively received nearly $100,000.

U.S. Senator Jack Reed has received $21,375 to his campaign account and his political action committee.

Reuters reported, “To grow his business, the scion of a wealthy Rhode Island real estate family has cultivated ties with military brass and politicians. Corvias has spent millions on lobbying, and Picerne has enlisted the help of his state’s powerful Democratic senator, Jack Reed, an Army veteran and ranking member of the Senate Armed Services Committee.”

Reed’s spokesman said the Senator will no longer accept donations from Picerne. Chip Unruh said in an email to GoLocal, “Senator Reed called these hearings to help bring attention to this issue and ensure every military family has safe, high-quality housing. The CEOs committed to fixing the problem and Senator Reed will continue to hold them accountable.”

Reed is just one of the top recipients of Picerne’s donations.

Congressman Jim Langevin (D-2) has received $18,400 from Picerne, U.S. Congressman David Cicilline has received $10,300 and U.S. Senator Sheldon Whitehouse has received $9,800.

#30 Zach Darrow, Law Firm Founder, Developer, and Investor

Deals, deals, deals.

It seems like Zach Darrow is involved in nearly every deal swirling.

He helped to put together the massive subsidy for the public-private partnership to save the Superman building.

And, just across the street from that vacant building, he is one of the investors in the iconic Turks Head Building.

Look across the city, and Darrow has had a role in dozens of the biggest real estate deals in Providence.

Darrow is as much an entrepreneur as a deal maker. 

His firm DarrowEverett, which he founded with Eric Everett more than 20 years ago, has grown into a regional power with offices up and down the East Coast.

As an investor, Darrow was one of the first to build in Providence’s Jewelry District as part of the 195 District initiative.

#29 Janet Robinson, Former CEO of the New York Times

Robinson was the president and chief executive officer of The New York Times Company from December of 2004 to January 2012. She was also a member of the board of directors.

Now, she has adopted Rhode Island as her home and has immersed herself in business and media.

During her time at the Times, "She directed the transformation of the advertising and subscription revenue growth in print and digital at all properties and the improvement of profit margins through operational efficiencies and pricing initiatives." 

Her departure was big news in the business news. The Atlantic wrote in 2011, "The New York Times has been called a lot of things in the 160 years of its existence, but unpredictable, rash, and confusing are rarely among them. But those were all adjectives swimming around Twitter after it was announced that chief executive Janet Robinson had been asked to resign."

She was named several times to Forbes magazine's list of “100 Most Powerful Women,” Fortune magazine's list of “50 Top Women in Business,” and the Financial Times' list of “50 Top Women in Business.”

In Rhode Island, she is a member of the board of directors of Ocean Point Financial Partners, the Preservation Society of Newport County, and the Rhode Island Foundation.

PHOTO: David Shankbone CC 3.0 Carnegie Foundation 

#28 John Hazen White, Executive Chairman, Taco Family of Companies

Taco has been a major employer, manufacturer, and community pillar.

John Hazen White's company is global, and he has significant national influence.

He funds Brookings' John Hazen White Global Manufacturing Initiative, which "seeks to address some of the most pressing challenges facing the manufacturing industry, including those related to energy costs, regulation, standard-setting processes, and workforce development.”

He is the third-generation leader of the company.

Over the years, Hazen White has been a loud voice in funding efforts to reform Rhode Island's political structure, including pension reform, master lever, and a failed effort to adopt a Constitutional Convention.

In recent years, he has been less active politically.

He continues to support education and cultural efforts in Rhode Island.

PHOTO: Taco

#27 Melissa and Ted Long - Supreme Court Justice and Attorney

Melissa and Ted Long are a top Rhode Island power couple. She is the newest member of the Rhode Island Supreme Court and is a ceiling breaker as Rhode Island’s first Black judge to serve on the Court. She served as a Superior Court Judge before her elevation to the top court.

He is a top business attorney representing everything from cool tech startups to venture firms taking a stake.

While he is a business lawyer today, his political experience and influence run deep.

Ted was Washington, DC counsel to United States Senator Jack Reed. And, he served as the transition team chair for Lieutenant Governor Elizabeth Roberts when she was elected in 2006,

GoLocal wrote, in part, in an editorial about Melissa Long in 2020, urging her appointment to the high court.

Long earned her bachelor's degree from the University of Virginia. She later received her J.D. from George Mason University. Long was deputy secretary of state for the Rhode Island Secretary of State at the time of her appointment. She previously worked as senior legal counsel for the Rhode Island Department of Transportation.

Long is the best qualified.

In 1747, Gideon Cornell was appointed to serve as first Rhode Island Chief Justice and four other justices were appointed — they were all white.

Since then, nearly 100 judges have been appointed to the court, or to serve as Chief Justice, over the past 277 years, and not a single justice of color has been appointed.

The high court is among the most segregated places in Rhode Island.

PHOTOS: Holland & Knight and RI Supreme Court

#26 Jonathan Savage, Attorney, Developer, Chair of the Board of the RI Airport Corporation

Jon Savage is in the middle of nearly every deal, initiative, and advancement in Rhode Island.

In his role as the chair of the board of the Rhode Island Airport Corporation, he has helped to transform the airport with a near-endless series of wins by attracting new carriers and an endless number of new flights.

As a developer, he has redeveloped a number of mill buildings into apartments.

He is a partner at Savage Law Partners, LLP and chairs the firm’s Corporate and Business department, Public Sector/Governmental Services department, and Co-chairs the firm’s Receivership and Business Insolvency department.

As a receiver and a special master, Savage has served as the de facto CEO of private companies, a publicly traded corporation, a municipality, a federal detention facility, and a large community hospital.

PHOTO: GoLocal

#25 Alan Hassenfeld, Former CEO and Chair of Hasbro

In the 1990s and 2000s, Alan Hassenfeld was one of the most dominant business forces in Rhode Island and in the United States.

The former CEO and Chairman of Hasbro was a significant proponent in pushing for ethics reform in Rhode Island -- and he took the family company to the position of the number one toy company.

He moved to Florida, but in 2019 strangely inserted himself in the lottery contract extension debate. 

Hassenfeld raised questions about the proposed contract extension between IGT with the State of Rhode Island, but what Hassenfeld did not disclose is that Hasbro has major contracts with IGT’s competitor.

Hassenfeld’s Hasbro had a lot of skin in the game.

In 2014, Scientific Games Corporation announced it was extending through 2025 its long-term license agreement with Hasbro for the exclusive use of MONOPOLY and more than 15 other iconic game brands.

Hasbro makes millions licensing their games to appear on slot machines -- and much more -- in casinos around the world.

The Rhode Island-based Hassenfeld Foundation gave out roughly $8.2 million in donations in the most recently reported year.

PHOTO: CC 2.0 Ritcher Frank Jurgen

#24 Seth and Ira Magaziner

The father and son duo have national reputations.

Ira was a major player in the administration of President Bill Clinton and was the staffer for Hillary Clinton’s proposed healthcare program.

He led the Clinton Health Access Initiative for many years.

A GoLocal investigation tracking the flight logs and thousands of other pages of documents relating to convicted sexual predator Jeffrey Epstein finds close links to Ira.

Ira repeatedly flew on Epstein’s jets and his personal phone number and private email were in Epstein’s “black book.”

According to flight records, Ira flew on Epstein’s plane numerous times. The flight records show that he flew with Epstein and Clinton in Africa, China, and Hong Kong.

One set of flights with Epstein was in September of 2002 in Africa that included a landing in Dubai. Besides Ira and Clinton, the flight log lists supermodel Naomi Campbell, and actors Kevin Spacey and Chris Tucker. MORE HERE

Flight logs have been released by a series of court orders tied to other litigation involving Epstein and his longtime companion Ghislaine Maxwell.

On another set of flights in 2003, Ira traveled again with Epstein and Clinton in mainland China — to Chengdu, the capital of Sichuan province and then to Hong Kong.

Epstein committed suicide while facing an array of federal charges relating to the exploitation of young women and Maxwell was convicted on multiple charges

Ira has repeatedly refused to respond to questions, but his son, and General Treasurer Seth removed GoLocal from his public office’s press distribution list as retribution for GoLocal’s investigation.

Presently, Seth is the Democratic nominee for Congress in the second congressional district. He refuses to say how he lent his campaign for General Treasurer $800,000, saying only his family happens to be incredibly rich. 

The Magaziners have national contacts and tremendous wealth.

PHOTOS: Ira Magaziner, WIKI CC: 3.0, Seth Magaziner: GoLocal

#23 Tom Ryan, Former CEO and Chairman of CVS

Tom Ryan has been out of the top position at CVS for a decade but he continues to find new ways to inject himself into a dizzying array of situations. 

Ryan, in many ways, served as the de facto AD at URI in the recruitment of Archie Miller as the men's basketball coach. He is reportedly the biggest donor to the program.

In the final weekend before the Democratic primary, Ryan attacked Dan McKee, claiming that the Governor had besmirched the reputation of CVS, by raising questions about the company's role in the opioid crisis.

Ryan and his wife have become major benefactors to the University of Rhode Island. In 2019, the couple announced a gift of $35 million. Now, the Ryans have made gifts in total of $56 million.

According to URI, the gift includes $24 million for the George & Anne Ryan Institute for Neuroscience and $10 million to establish the Thomas M. Ryan Scholars.

He is also part of the syndicate that purchased the Pawtucket Red Sox and moved the team to Worcester from greener (back) fields.

#22 Edward “Ned” O. Handy, III, CEO of Washington Trust

He is the Chairman of the Board of Directors and Chief Executive Officer for Washington Trust Bancorp, Inc., the parent of The Washington Trust Company.

Handy leads a team of more than 600 employees.

Washington Trust has been consistent -- consistently trying to pick up the mid-sized commercial lending market from Citizens and Bank of America.

Washington Trust has announced that in 2023, they will expand branches into Smithfield, Providence and Barrington.

The Brown University graduate serves on various boards, including the Greater Providence Chamber of Commerce and the RI Food Bank.

#21 Thomas F. Gilbane, Jr., Chairman and Chief Executive Officer of Gilbane, Inc. and Chairman of Gilbane Building Company

For the multi-billion dollar privately held company, he is the seventh family member to lead the business since its start in 1870.

The once Rhode Island-headquartered company moved much of its corporate presence to Boston a few years ago — and today, they play on a global level.

He joined Gilbane Building Company in 1970 and has served in numerous field and office positions. Under his guidance, Gilbane operates with a “one company” philosophy that "maximizes the organization’s resources and expertise on projects and business pursuits."

According to the company, Gilbane's leadership exemplifies a strong family culture and commitment to ensuring the highest standards of safety and ethics. In 2014, he was the recipient of the National Safety Council’s ‘CEOs Who Get It’ which recognized his personal pledge to worker safety and wellness.

He serves on a number of boards nationally and regionally including the CCRI Foundation.

He served six years in the Army National Guard’s Engineer Battalion as a 2nd Lieutenant -- one of the few on the list who served in the armed forces.

#20 Dennis Coleman, Super Sports Attorney

Dennis Coleman first made news in Rhode Island when he became Brown University’s first Black quarterback in the early 1970s.

From there, it has been a rocket ride to the height of the business of college and professional sports.

Coleman leads a nationwide sports, media, and entertainment practice at one of Boston's largest law firms.

His clients include over 25 head coaches in basketball and football, including PC’s Ed Cooley, Ashley Howard of La Salle University, Johnny Dawkins of the University of Central Florida and Jeff Jones of Old Dominion University.

Coleman also represents Hall of Famer Tony Dungy, who is a sportscaster at NBC Sports and former head coach of the NFL's Indianapolis Colts.

In addition, he represents various sports industry clients, such as the National Football League, the Boston Red Sox, the National Association of Basketball Coaches and a variety of head football and basketball coaches and broadcasters in contract, sponsorship, and endorsement deals.

PHOTO: Ropes & Gray

#19 Pablo Rodriguez, MD

Rodriguez has been one of the dominant players in healthcare and politics in Rhode Island for the past 40 years.

He serves on some of the top boards in the state, including Neighborhood Health Plans.

On the political side, he was a top backer of Lincoln Chafee when he ran for governor in 2010 and tried to repeat his magic as a top advisor to Rhode Island Secretary of State Nellie Gorbea in her run for governor. He was featured in one of her political ads.

Associate professor emeritus at the Warren Alpert Medical School, Rodriguez is the former chair of RI Project AIDS, the International Institute of RI, RI Latino Political Action Committee, according to his bio.

He serves on the COVID Vaccine subcommittee for the RI Department of Health, and the Equity Council for the Executive Office of Health and Human Services. 

#18 Maureen McKenna Goldberg and Robert Goldberg, Supreme Court and Lobbyist (respectively)

Meet one of the highest-ranked power couples on the list.

This is a duo that dominates both the State House and Supreme Court.

Maureen McKenna Goldberg has served on the Rhode Island Supreme Court for more than 20 years.

Her husband, Robert Goldberg is one of the top lobbyists in the state -- his clients are a who's who of Rhode Island and U.S. corporate America, including CVS, FedEx, Lifespan, and IGT to name a few. 

#17 Bruce Van Saun, Chairman and Chief Executive Officer of Citizens Financial Group

American Banker named Bruce Van Saun the Banker of the Year in 2021. They wrote,

“When Bruce Van Saun took over as chief executive of Citizens Financial Group in late 2013, the Providence, R.I., company was fading into irrelevance. By then, most regional banks that had been hobbled by the financial crisis were back in growth mode after a long period of retrenchment. An exception was Citizens, whose parent company at the time, Royal Bank of Scotland, had all but stopped investing in its U.S. operations since being seized by the British government five years earlier.”

Van Saun spun the company off from RBS and Citizens exploded.

The company built a mega-campus in Johnston.

Van Saun joined CFG in October 2013 – after serving as Group Finance Director and as an executive director on the RBS Board from 2009 to 2013 – and led Citizens to a successful initial public offering in September 2014, and full independence from RBS in October 2015.  He has more than 30 years of financial services experience.

Van Saun has served on a number of boards in both the U.S. and the U.K.  He is currently a director of Moody’s Corporation, sits on the Federal Reserve Bank of Boston board, and is a board member for the Bank Policy Institute.  He is also a board member of the Partnership for Rhode Island.

PHOTO: Citizens Bank

#16 Jay Leno, Comedian

Jay Leno is one of a handful of comics to host The Tonight Show — arguably one of the most successful television shows in broadcast history.

Leno, who grew up in Massachusetts, attended Emerson College in Boston.

Prior to taking the helm of The Tonight Show, he was one of the most prolific comedians in the world — doing 300-plus shows annually for years.

As GoLocal reported in 2017,  Leno purchased Seafair at 254 Ocean Avenue in Newport -- one of the city's premier estates — the property that was then listed by Sotheby's International.

Former Nortek CEO Rick Bready was the previous owner of Seafair. GoLocal had learned that the closing price was $13.5 million.

Leno has been different from many of Newport’s super-rich who arrive for the summer and leave by Labor Day.

Leno is active in the Newport community — regularly doing fundraisers for non-profits.

PHOTO: Wally Weiner in Newport, 2022

#15 Brad Dimeo, CEO of Dimeo Construction

He is a third-generation leader of Dimeo Construction.

Brad’s father Tom, who was a lovable titan in Rhode Island business, died this past year.

Dimeo appears sometimes to be building everywhere.

The two mega dorms Brown University is building on Brooks Street in Fox Point is a Dimeo project.

The Citizens Bank campus in Johnston — another Dimeo project.

The controversial soccer stadium in Pawtucket is being developed by Fortuitous Partners, another Dimeo project.

Dimeo is building hospitals and colleges around New England.

He is a mega-political donor — giving to the most eclectic group of candidates from Geraldine Ferraro to Matt Brown to Allan Fung to Charlie Baker and Nick Mattiello.

One of their prized projects is the award-winning Ocean House in Watch Hill — one of the most heralded hotels in America and owned and operated by billionaire Charles M. Royce of Royce Funds.  Royce is on this year’s list, but is only a part-time Rhode Islander.

#14 Paul Salem, Providence Equity, Chair of the Board MGM

Paul Salem serves as Senior Managing Director Emeritus, Providence Equity Partners — the firm that he, Jonathan Nelson and Glenn Creamer launched in the 1980s and made it one of the premier private equity firms in the United States.

But that is just one of his gigs.

Since March of 2020, he has served as Chairman of MGM Growth Properties LLC  and has launched his own venture fund.

He is a big-time political donor, giving to Democrats and Republicans, including Republican Senate Minority Leader Mitch McConnell, Democrat Senator Hillary Clinton, Democratic President Barack Obama, and Republican Governor Don Carcieri.

He is the past chair of the board of Year Up — the national non-profit.

Tied to his role at Prov. Equity, he previously served as a director of Grupo TorreSur, Asurion, Eircom, Madison River Telecom, MetroNet (formerly AT&T Canada), PanAmSat, Tele1 Europe, Verio, Wired Magazine, Education Management Corporation and several other Providence investments.

He serves on the advisory board of the Carney Institute for Brain Science at Brown University and has been named an Advanced Leadership Initiative fellow at Harvard.

#13 Navyn Salem, Founder and CEO of Edesia

Navyn Salem is one of the most pivotal people in the world working to feed those facing hunger and famine.

The company she founded more than a decade ago -- Edesia -- produces more than 1.5 million cartons of food annually to combat malnutrition. 

According to a feature on The Today Show in 2021, “Navyn Salem didn't have experience in building factories or food distribution when she started a non-profit, Edesia, and created the first U.S. factory to produce a life-saving packet called Plumpy'Nut, a therapeutic peanut butter paste used to feed starving children around the world.

But she had the memories of seeing children dying from hunger on a trip to her father's birthplace of Tanzania — and the belief she could do something to help.”

This year, it was Hollywood actress and producer Drew Barrymore -- who hosts her own daytime talk show -- stepped up to help provide $50,000 in support to Edesia. 

"I was recently interviewed in front of a live TV audience in New York City and given the opportunity to share Edesia’s work on the Drew Barrymore Show. As you may already know, Drew was a World Food Programme Ambassador and could relate to the profound and humbling experience of witnessing a humanitarian crisis firsthand," said Salem. 

"Drew surprised me twice on the show. First, with an amazingly generous check for $25,000 from our friends at Perdue Farms, the company that has for years supplied us with the vegetable oil we need to keep making 1.5 million packets of life-saving Plumpy’Nut each day," she said. 

"And second, with a personal match from her and her co-producer Chris Miller, because they were so moved by our work. $50,000 will help us reach another 1,000 severely malnourished children and we could not be more grateful," she added. 

"On behalf of the world’s hungry and malnourished, I am so thankful for the gift and this spotlight, which can only help us reach more children than ever before with the foods we make," said Salem. 

#12 James A. Procaccianti, Chief Executive Officer

The Rhode Island-based Procaccianti Companies are a mega-hospitality group. 

CEO James Procaccianti has directed the business through thousands of transactions representing over $10 billion of diversified real estate investments in more than 170 cities across 32 states coast to coast.

During this run, Procaccianti has owned, operated, and managed nearly 180 hotels and forged franchise relationships with the world’s leading global hotel brands like Hyatt, Marriott, Hilton, Starwood and InterContinental Hotels Group (IHG).

Additionally, he has completed numerous complex acquisitions with national institutional real estate investors, such as GE Pension Trust, Starwood, FelCot, Lend Lease, Host Marriott/Marriott International, Bank of America, and CallPERS, the largest public employee pension fund in the United States.

One of the company’s divisions suffered a significant loss when the historic Veranda House on Nantucket was devastated by fire this past July

The 18-room boutique hotel on Step Lane was completely renovated in 2020, according to the Nantucket Resort Collection website.

#11 Glenn Creamer, Providence Equity Partners

Creamer is a senior managing director emeritus and a senior advisor based in Prov Equity's downtown office, having previously served as a senior managing director on Providence’s investment team.

He was one of the early partners at Prov Equity, along with Jonathan Nelson and Paul Salem. From a wealth standpoint, Creamer is in that billion-dollar range.

Outside of the investment world, Creamer has been a global player in the world of Catholic focus-philanthropy. Creamer is chairman of the Catholic Relief Services Foundation.

In that role, he has traveled extensively to developing countries in Africa, Central America, Asia, the Middle East, and the Caribbean during his 15 years of involvement with CRS.

In addition, Creamer is chairman of the World Affairs Councils of America. He is also active in the American Investment Council, American Friends of Jamaica, and Mustard Seed Communities.

He also serves on the Board of Dean’s Advisors at the Harvard Business School.

#10 Sally Lapides, CEO of Residential Properties

She is the CEO of the region's largest real estate company. In 2021, Residential Properties completed $1.4 billion in sales.

Lapides is relentless at building her business. In just the past year plus, she has bought Libby Kirwin Real Estate, opened new offices in Rhode Island and Massachusetts, and pushed her total number of agents toward 300.

Since opening its first office in 1981, Residential Properties Ltd. has grown to become the state’s largest and most successful independent real estate brokerage in the United States. The company was recently included on the 2021 REAL Trends list of the top 500 most successful real estate companies in the entire nation. 

Lapides often appears to be everywhere, from supporting the galas for nonprofits, to leading business meetings and making a difference in Rhode Island.

#9 Angus Davis, General Partner, Foundation Capital

Davis is Rhode Island’s most successful and experienced technologist.

He founded TellMe Networks -- and sold it to Microsoft for $800 million.

Then, he launched Swipely, pilling up the accolades. The company, founded in 2009, raised $40.5 million right out of the block and landed over 3,000 customers.

He pivoted Swipely into Upserve, where as CEO he grew to become one of the largest cloud-based point-of-sale platforms for full-service restaurants in the U.S., with over 10,000 restaurant customers and a payments platform processing over $12 billion in annual volume. 

Upserve sold for $430 million in 2020.

He has been tapped for most every tech award by Forbes and Fortune.

In 2022, he made news again when he got into a legal battle with his neighbor over fences and a playhouse.

PHOTO: Foundation Capital

#8 TIE Joseph Paolino, Developer

Paolino owns much of downtown Providence -- and much more.

The former mayor of Providence is an outspoken critic of Jorge Elorza and especially his handling of Kennedy Plaza. 

Often, Paolino is in the middle of many of the biggest political fights whether it be his activism for certain candidates or his condemnation of the policies of the 195 Commission.

Like many toward the top of the list, he has a reach beyond Rhode Island.

The former U.S. Ambassador to Malta, he has also served as the Democratic committeeman for RI.

#8 TIE Scott Donnelly, Chairman of Textron

Scott Donnelly is chairman, president and chief executive officer of Textron — and he has shown resilience.

The company is ranked #302 on the Forbes 500 list.

Donnelly joined Textron in July 2008 as executive vice president and chief operating officer and was promoted to president and chief operating officer in January 2009. 

He became CEO in December 2009 and was elected chairman of the board effective September 1, 2010.

During this period, CVS has seen 3 different CEOs and Hasbro, the same. 

It is rare in the modern corporate world to see such stability.

The longevity has paid off. In 2022, Donnelly received total compensation of  $18,576,014, with more than $10 million in stock.

#7 Michael “Mike” Mahoney, CEO of Boston Scientific

Michael “Mike” Mahoney is Chief Executive Officer of Boston Scientific Corporation and Chairman of the company’s Board of Directors.

The Barrington resident is a global player in the medical technology industry.

Boston Scientific realized $11.9 billion in annual revenue and commercial representation in more than 115 countries in 2021.

His total compensation last year: $15,764,100

“Under Mike’s leadership, Boston Scientific is delivering on its mission to transform lives through innovative medical solutions that improve the health of patients around the world. The company’s team of more than 41,000 global employees reaches over 30 million patients each year, providing a range of technologies and solutions that span cardiovascular interventions, structural heart, electrophysiology, endoscopy, neuromodulation and urology, and women’s health,” says the company.

PHOTO: Boston Scientific

#6 Brett Smiley and James DeRentis - Mayor and Realtor

The Mayor-elect of Providence, Brett Smiley and his big-time realtor husband James DeRentis, are the new de facto power couple in Providence.

Smiley previously served as COO for Providence Mayor Jorge Elorza and then Chief of staff and director of administration for former Governor Gina Raimondo.

DeRentis is one of the top realtors in Rhode Island, selling about $100 million a year.

Now, the two are poised to be the most influential in the capital city.

PHOTO: Smiley campaign ad 

#5 Ed Cooley, Head Basketball Coach Providence College

The top basketball coach in America has something that no CEO, bank, or hospital president has -- "a lifetime contract." 

PC has announced he has received lifetime contracts twice now.

In 2020, Cooley earned $3.2 million and received a new contract after his amazing 2021-2022 season.

The contract extension is believed to be ten years and starts at about $4 million a year.

His influence in college sports is now top-tier, and his impact on Rhode Island may be unmatched.

He appears to be everywhere as a pitchman and community booster.

PHOTO: GoLocal

#4 Jonathan Nelson, Prov Equity and Dynasty

Rhode Island’s own Jonathan Nelson was a billionaire more than a decade ago.

Nelson, along with some friends from Brown University, built Prov Equity Partners into one of the most powerful players in finance in the United States in the early 2000s.

Now, Nelson is launching Dynasty -- a sports-focused private equity fund.

Nelson is teaming up with Don Cornwell, a partner at PJT Partners. The two have announced they are raising $1 billion to invest in sports teams.

Nelson previously served as director of Yankees Entertainment and Sports Network, which Providence Equity invested in. Providence Equity has also invested in Learfield, Ironman, Topgolf, EZLINKS, and MLS’ marketing wing, Soccer United Marketing. 

Cornwell has worked on some of the largest and most complex sports and entertainment deals in the industry, including the recapitalization of the Tennessee Titans, the sale of Maple Leaf Sports & Entertainment, the sale of the Buffalo Bills, the sale of IMG to William Morris Endeavor,  and the sale of Access/DAZN owned Perform Group to Vista owned STATS Inc.

According to Front Office Sports, Cornwell will be the first Black co-owner of a sports-focused private equity fund. Each founder will also remain in their respective current roles.

Today, Nelson now serves as Prov Equity’s executive chairman. Nelson currently serves as chairman of Ambassador Theatre Group and director of The Chernin Group — two Prov Equity investments

Private equity firms spent $51 billion on sports transactions in 2021, according to Pitchbook, including $22 billion in Europe and nearly $3 billion on minority stakes in North American sports teams.

#3 Helena Foulkes

Helena Foulkes, the former corporate executive, tried to parlay her business experience -- and wealth, and influence -- into a bid for Rhode Island governor, before falling short in the 2022 Democratic primary 

She is from a highly politically connected family. Her late mother roomed with Speaker of the House Nancy Pelosi in college. Her uncle Chris and her grandfather Tom were both long-time U.S. Senators representing Connecticut.

She had a storied career at CVS, rising to the role of President, and received credit for creating the ExtraCare Card and removing tobacco from retail stores.

A series of GoLocal stories unveiled CVS' role in the opioid crisis while she was in leadership at the company.

After CVS, she was tapped to serve as to turn around the Canadian retailer Hudson’s Bay Co.  The Toronto Star called her short-term stint there “turbulent.”

Three months before she left as CEO, The Toronto Star featured a story titled, “Eye-popping losses, a failed European expansion and a bid to go private — can Hudson’s Bay survive?"

She made $27 million in one of her two years and was paid tens of millions at departure.

She only lost the Democratic primary by a little more than 3,000 votes.

The question now is, what is her next move?

A primary run against Sheldon Whitehouse in 2024 or a run for governor in 2026?

Stay tuned. She has the money and the connections. 

PHOTO: Foulkes Campaign

#2 Karen Lynch, CEO of CVS

Lynch heads the company with the 4th highest revenue in the United States -- trailing only Walmart, Amazon and Apple.

CVS now generates more than $292 billion in revenue and $7.9 billion in profits.

She has been strategically shifting the company from retail to being a healthcare provider, announcing the closing of nearly 1,000 stores and making major acquisitions.

In September, CVS Health entered into a definitive agreement under which CVS Health will acquire Signify Health for $30.50 per share in cash, representing a total transaction value of approximately $8 billion.

The Wall Street Journal reported, CVS beat out Amazon and UnitedHealthcare.

According to CVS’ announcement, Signify Health is a leader in Health Risk Assessments, value-based care and provider enablement, with a network of more than 10,000 clinicians across all 50 states and a nationwide value-based provider network, combined with its proprietary analytics and technology platforms. 

#1 Gina Raimondo, U.S. Secretary of Commerce

Raimondo is 10th in the line of succession for the presidency.

She dominated Rhode Island politics for more than a decade, first as General Treasurer (as the architect of the controversial pension reform) and then as the state's first female governor. 

She proved to be one of the state's most contentious politicians of the past 50 years and won her first term with just 40% of the vote.

She is rumored to be the successor of Janet Yellen, departing after the mid-terms.

The Boston Herald's Joe Battenfeld wrote about a potential Raimondo presidential run in May.

In August, The Boston Sun wrote:

Gina Raimondo often is described as a centrist Democrat. When (hopefully) Joe Biden announces that he will not be running for re-election, there is no one on the Democratic side who would be better suited to running for President than Raimondo.

Raimondo continues to own a home in RI.