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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
$5B
Estimated based on Insurance stock value as of April 21, 2026
+3.13% (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. His source of wealth is insurance. Hagen has had a successful career spanning over four decades at Erie Insurance, including three years as CEO from 1990 to 1993. He also served as the Secretary of Commerce and Secretary of Community & Economic Development for the state of Pennsylvania. As of March 2026, his net worth is estimated at $5.2 billion, placing him among the world's wealthiest individuals.

Fact Checked
Verified by Editorial Team
Live Data
Updated 4/21/2026

Wealth Over Time

In-Depth Profile

Early Life

Thomas Bailey Hagen was born circa 1935 or 1936. He attended Penn State Behrend from 1953 to 1955 and earned a bachelor's degree from Ohio State University in 1957.

Rise to Success

Hagen's career is primarily associated with the Erie Insurance Group, where he has spent over 40 years. He served as CEO from 1990 to 1993 and is currently the chairman. Under his leadership, Erie Insurance has grown into a major player in the insurance industry. Hagen also served as the Secretary of Commerce and Secretary of Community & Economic Development for the state of Pennsylvania from January 1995 to March 1997.

Key Business Strategies

While specific details on his business strategies are not readily available, Hagen's long tenure at Erie Insurance and his role in Pennsylvania's economic development suggest a focus on strategic growth, community involvement, and customer service. Erie Insurance is known for its focus on customer service.

Philanthropy

In 2017, Hagen gave $1.5 million to Mercyhurst University's history department, which was renamed in his honor. He has also been involved in restoration efforts in Erie, Pennsylvania.

Career Milestones

1957

Graduated from Ohio State University

Earned a bachelor's degree in business administration.

1970s

Joined Erie Insurance Group

Began his career at Erie Insurance Group.

1990-1993

CEO of Erie Insurance Group

Served as CEO, guiding the company's growth.

1995-1997

Secretary of Commerce and Secretary of Community & Economic Development of Pennsylvania

Served in the Pennsylvania state government.

2017

Philanthropy

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

Philanthropy & Social Impact

Education

Mercyhurst University History Department

$1.5M

Donation to rename the history department.

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