Billionaire Profile
N
Global Rank
#3010

Image: United States. Dept. of State | Public domain | via Wikimedia Commons

Norman Asbjornson

CEO, HVAC
UNITED STATES
Real-Time Net Worth
$1.111B
Estimated based on HVAC stock value as of March 6, 2026
-3.53% (24h)
Age
90
Source
HVAC
Industry
Manufacturing
Citizenship
UNITED STATES

Biography

Norman Asbjornson, a self-made HVAC entrepreneur, currently ranks as one of the wealthiest individuals globally. His career began in the HVAC industry, culminating in the founding of AAON, a successful manufacturing company. Asbjornson's estimated net worth currently stands at $1.1 Billion, reflecting his significant achievements. He is known for his contributions to the industry and his commitment to philanthropy, including a substantial donation to Montana State University's College of Engineering. Asbjornson's career showcases his leadership and business acumen, solidifying his position as a prominent figure in the business world.

Fact Checked
Verified by Editorial Team
Live Data
Updated 3/6/2026

Wealth Over Time

In-Depth Profile

Early Life

Norman Harold Asbjornson was born on December 10, 1935, in Winifred, Montana. Growing up during the Great Depression, Asbjornson developed a strong work ethic from an early age. His family lived in a modest house, which instilled in him the values of perseverance and resourcefulness.

Rise to Success

Asbjornson's career began after graduating from Montana State College with a degree in mechanical engineering. He spent 28 years working in the HVAC business. In 1988, he founded AAON, a heating, ventilation, and air conditioning (HVAC) manufacturer. AAON went public, with Asbjornson as the president and CEO, and he was instrumental in the company's growth, securing major contracts with companies such as Walmart.

Key Business Strategies

A key strategy in Asbjornson's success was his focus on providing quality service. He cultivated relationships with clients, which led to long-term partnerships. Asbjornson's ability to adapt and innovate with the changing demands of the market was also crucial to AAON's success. He ensured that the company's products met the needs of large clients like Walmart, which was instrumental in driving revenue.

Philanthropy

Asbjornson has been a generous philanthropist. In 2014, he pledged a $50 million donation to Montana State University's College of Engineering, the largest private gift in the history of the state. He also established a $1 million scholarship fund at MSU.

Career Milestones

1960

Graduation

Graduated from Montana State College with a degree in Mechanical Engineering.

1963

Marriage

Married in Omaha, Nebraska.

1964

Birth of Daughter

His daughter, Elizabeth, was born.

1968

Birth of Son

His son, Scott, was born.

1988

Founder of AAON

Founded AAON, Inc.

2004

Honorary Doctorate

Awarded an honorary doctorate in Engineering.

2014

Philanthropic Donation

Pledged a $50 million donation to Montana State University's College of Engineering.

2022

Retired as Executive Chairman

Retired as Executive Chairman of AAON, Inc.

Philanthropy & Social Impact

Education

Montana State University College of Engineering

$50M

Pledged $50 million to fund the construction of the Norm Asbjornson Innovation Center.

Education

MSU Scholarship Fund

$1M

Endowed a scholarship fund for graduates from Montana high schools.

Education

HVAC Laboratory

$0.6M

Donated cash, equipment, and technical advice to create an HVAC laboratory at MSU.

Business Philosophy & Leadership

Notable Quotes

"I am excited to see the amazing things that students, faculty and staff will create in the Norm Asbjornson Innovation Center."

Leadership Principles

Innovation

Embracing new ideas and technologies to improve products and services.

Customer Focus

Understanding and meeting customer needs through quality service.

Strategic Planning

Developing long-term goals and strategies to ensure sustained growth and success.