Rhode Island's 50 Wealthiest and Most Influential: 50 Through 41

#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 “Lets 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.

PHOTO: RI Commerce Corp

#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 also 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 top 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. 

Lopes 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 for 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