John Middleton was born in Bryn Mawr, Pennsylvania, United States. John Middleton is #775 in List Billionaires People In The World. John Middleton made his fortune selling his family's storied tobacco business to Philip Morris-parent Altria for $2.9 billion in cash in 2007. The original business, John Middleton Inc., was founded as a small retail tobacco shop in Philadelphia in 1856 by his great-great-grandfather. The company began manufacturing cigarettes in the 1950s and launched the Black & Mild cigar brand in 1980. Middleton bought out his relatives' stakes in the company in 2003 for about $200 million amid tobacco lawsuits that threatened to harm the business. Middleton is the largest shareholder in the Philadelphia Phillies baseball team, with a 48% stake.