North Dakota has lots of millionaires — farmers, landowners and oil payment recipients who, on paper, are worth seven figures.

But North Dakota has only one billionaire, according to Forbes — businessman Gary Tharaldson.

According to the financial publication, Tharaldson is worth $1 billion as of June 18th.

The Fargo resident is called a “self-made man” by the magazine. It notes he purchased his first Super 8 motel in 1982 in Valley City. From there, he began acquiring and building hotels across the country, topping out at 350 properties.

In 2006, he sold 130 hotels to Goldman Sachs for $1.2 billion, money he reinvested in land and commercial and residential developments.

You can read more about Tharaldson and the Forbes’ billionaire list here and here.