Erie Insurance heir named to billionaires’ list

   January 17, 2013 1:56 pm

 

Few in the Erie area would be surprised to hear Susan Hirt Hagen described as wealthy.

She is, after all, a daughter of H.O. Hirt, one of the founders of Erie Insurance, the only Fortune 500 company with headquarters in Erie. She, along with her husband, Thomas Hagen, is also well known for acts of charity, including a multi-million-dollar gift to Penn State Behrend.

But a recent report by Bloomberg puts her in another category. Hirt, 76, is a billionaire, worth an estimated $1.7 billion, according to the Bloomberg Billionaires Index.

Bloomberg reports that Susan Hirt Hagen, who serves on the company’s board of directors, controls the majority of Erie Indemnity voting stock and 35 percent of its common shares.

Hagen, whose share of the company is worth $1.4 billion, also has collected about $400 million in dividends since 1991.

 

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