T. Denny Sanford, the owner of First Premier Bank of South Dakota, has passed away at 90. The death of the banking giant was announced by South Dakota’s Governor, Larry Rhoden via a press release on Saturday, July 18. A cause of death was not announced.
In 2025, Forbes had announced that T. Denny Sanford, with a net worth of $2.1 billion, is South Dakota’s richest person. As of July 2026, his net worth is $2.4 billion, per Forbes.
A quote from the Gov. Rhoden included in the statement from the South Dakota Governor’s office, read: “It is with great sadness that Sandy and I mourn the loss of T. Denny – a man who has so generously and intentionally invested in the great state of South Dakota.
“His contributions will not be forgotten, and South Dakota will forever be impacted by his legacy. Put simply, he was the greatest philanthropist in South Dakota history.”
The release also included a series of important donations that T Danny Sanford has made over the years to the state of South Dakota.
Sanford CEO Bill Gassen also released a statement with the announcement of T. Denny Sanford’s death. The statement also did not include a mention of his cause of death. Prior to his death, there were no reports that the 90-year-old was suffering from any illnesses.
“We are forever blessed that Denny chose us and our communities to make the transformational gifts that will change lives for generations,” said Gassen. “He was a driving force in modern medicine, empowering researchers and clinicians to think big and pursue bold, innovative endeavors at a pace not otherwise possible. We are able to provide care for more patients in their time of need because of his generosity.”
T. Denny Sanford Net Worth: How Rich Was He And How Did He Made His Money?
T. Denny Sanford made most of his wealth as the founder of First Premier Bank in South Dakota. The bank specializes in issuing credit cards to high-risk borrowers. According to Forbes, the bank is based in Sioux Falls and has only 18 branches. Despite that, they are one of the highest issuers of Mastercard credit cards in the United States.
According to a blog post on the Sioux Fall Business, T. Denny Sanford was inducted into the billionaire’s club around 2005 and 2006. The article notes that the main source of T. Denny Sanford’s wealth is his card company, PREMIER Bankcard, which was held by United National.
The bank’s success has continued since, increasing the personal wealth of T. Denny Sanford exponentially. His net worth peaked in the post-COVID-19 market, when there was a huge credit crunch in the market. In 2022, his net worth reached $3.1 billion, the highest ever. The same year, he donated $350 billion to Sanford Health.
This story is being updated.
