Ron Corio, 59, was listed at No. 2,524, becoming the state\u2019s first billionaire, The Albuquerque Journal reported Wednesday. Forbes reported that Corio had a net worth of $1.1 billion as of Tuesday.<\/p>\n
He is one of 2,755 global billionaires included on this year\u2019s list and one of 724 in the U.S.<\/p>\n
Corio was born in New Jersey and moved to New Mexico in 1979, launching Array Technologies, Inc. in 1989 at the age of 28.<\/p>\n
The company makes tracking systems for solar arrays that tilt and turn the panels to follow the sun. Array Technologies now controls 30% of the U.S. solar-tracker market, the Journal reported.<\/p>\n
Corio\u2019s company went public last October on Nasdaq Stock Market, raising more than $1.2 billion and pushing the firm\u2019s valuation at that time to about $3 billion.<\/p>\n
Array Technologies reported about $830 million in revenue last year. Corio stepped down before the company went public, but remains on the board and retains an 11% stake in the company.<\/p>\n
\u201cI always lived under the radar,\u201d Corio told the Journal on Wednesday. \u201cI kept my head down and worked hard. I had some serendipity in my life and it happened, but it took a lifetime to get there.\u201d<\/p>\n
Array Technologies owns a 43,000-square-foot (4,000-square-meter) manufacturing facility in Albuquerque, plus 26,000 square feet (2,400 square meters) of office and warehousing space. It employed nearly 350 people as of last June.<\/p>\n
\u201cThe big thing is to find something you believe in and persevere at it,\u201d Corio said. \u201cThat\u2019s what it comes down to, to get this kind of success \u2013 believe in what you do and stick with it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Corio, 59, was listed at No. 2,524, becoming the state\u2019s first billionaire, The Albuquerque Journal reported Wednesday. Forbes reported that Corio had a net worth of $1.1 billion as of Tuesday. He is one of 2,755 global billionaires included on this year\u2019s list and one of 724 in the U.S. Corio was born in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[815],"naviga_topic":[],"class_list":["post-47274","post","type-post","status-publish","format-standard","hentry","tag-associated-press-new-mexico"],"acf":[],"author_name":"dh_admin","_links":{"self":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/47274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/comments?post=47274"}],"version-history":[{"count":0,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/47274\/revisions"}],"wp:attachment":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media?parent=47274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/categories?post=47274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/tags?post=47274"},{"taxonomy":"naviga_topic","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/naviga_topic?post=47274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}