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Global Rank
#802

Image: Jefferson, Thomas, 1743-1826 Thomas Jefferson Memorial Association of the United States Lipscomb, Andrew Adgate, 1851-1915 Bergh, Albert Ellery, 1861-1919 | Public domain | via Wikimedia Commons

Thomas Hagen & family

CEO, Insurance
UNITED STATES
Real-Time Net Worth
$5.239B
Estimated based on Insurance stock value as of March 6, 2026
-0.72% (24h)
Age
90
Source
Insurance
Industry
Finance & Investments
Citizenship
UNITED STATES

Biography

Thomas Hagen is an American billionaire businessman and the Chairman of Erie Insurance Group. Born around 1935 or 1936, Hagen's career spans over four decades at Erie Insurance, where he served as CEO from 1990 to 1993. His leadership, rooted in ethical business practices and community involvement, has been instrumental in Erie's growth. Hagen also served as Pennsylvania's Secretary of Commerce and Secretary of Community & Economic Development, demonstrating a commitment to public service and economic progress. With a net worth of $4.2 billion (as of December 2024), Hagen is recognized as one of the wealthiest individuals globally. His philanthropy includes significant contributions to higher education and community revitalization efforts, reflecting his dedication to Erie, Pennsylvania, and its people.

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

Wealth Over Time

In-Depth Profile

Early Life

Specific details about Thomas Hagen's early life and childhood are not publicly available, but he was born around 1935 or 1936.

Rise to Success

Thomas Hagen's career is primarily associated with Erie Insurance Group. He began working at Erie Insurance, co-founded by his father-in-law, and rose through the ranks over a 40-year career. Hagen served as CEO of Erie Insurance from 1990 to 1993 and is currently the Chairman. His leadership was marked by strong financial results and the company's growth into a major national insurance provider. Hagen also served as Pennsylvania's Secretary of Commerce and Secretary of Community & Economic Development, demonstrating his commitment to public service.

Key Business Strategies

Hagen's strategies included emphasizing ethical business practices, long-term thinking, and community stewardship. He prioritized staying in Erie, Pennsylvania, where Erie Insurance was founded in 1925, contributing to the community's revitalization.

Philanthropy

Hagen is known for his philanthropic efforts. In 2017, he donated $1.5 million to Mercyhurst University's history department, which was subsequently renamed in his honor. He has also been involved in restoration efforts in Erie, Pennsylvania, and is the founder of the Susan Hirt Hagen Center for Transformational Philanthropy at The Erie Community Foundation.

Career Milestones

1953

Began career at Erie Insurance

Started working at Erie Insurance Group as a part-time filing clerk.

1990-1993

CEO of Erie Insurance Group

Served as the Chief Executive Officer, guiding the company through a period of growth.

1995-1997

Pennsylvania Secretary of Commerce and Secretary of Community & Economic Development

Served in the public sector, contributing to Pennsylvania's economic development.

2017

Donated to Mercyhurst University

Gifted $1.5 million to Mercyhurst University's history department.

Philanthropy & Social Impact

Education

Mercyhurst University History Department

$1.5M

Donation to the history department, which was renamed in his honor.

Community Development

Susan Hirt Hagen Center for Transformational Philanthropy

Undisclosed

Established at The Erie Community Foundation.

Community Development

Erie, Pennsylvania, Restoration Efforts

Undisclosed

Active involvement in the revitalization of Erie's historic neighborhoods.

Business Philosophy & Leadership

Leadership Principles

Servant Leadership

Leading by example and prioritizing the needs of others.

Community Stewardship

Commitment to the well-being and development of the local community.

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