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Toby Doedens Business Empire Under Scrutiny Ahead of South Dakota Governor Runoff
As the July 28 runoff draws near, voters are focusing on the complex network of real‑estate and automotive assets that underpins Toby Doeden’s political platform.
Public filings reveal that Doeden is connected to 24 limited‑liability companies, the bulk of which are real‑estate holding firms such as Plaza Rentals LLP, Tenth Street Properties LLC, and Five‑Star Management LLC. Together, these entities own more than $30 million of property in and around Aberdeen, a figure that the Brown County Equalization Department lists as an assessed value of at least $34.2 million. The property‑tax commitment for the year stands at $558,129.
Doeden’s automotive interests are equally prominent. He owns Aberdeen Chrysler and Redfield Ford, and he oversaw the sale of the Aberdeen Chrysler Center to the Rydell Automotive Group. In 2020, the dealership received a $1.1 million Paycheck Protection Program loan, a record that appears in the federal PPP database. Doeden has said the loan preserved 150 jobs, although the PPP data do not provide a breakdown of job‑saving claims.
Beyond buying and selling, the portfolio includes a tax‑increment financing (TIF) district on North 2nd Street, now known as 4J Commons. Established in 2023 and slated to mature in 2043, the district was created to redevelop a dilapidated apartment complex, and its name references Doeden’s four children. He also runs the 4J Foundation, a charitable organization.
The companies have branched into cryptocurrency mining as well. A zoning permit issued in February 2022 allowed 70 bitcoin‑mining units on land adjacent to the dealership; the permit was upgraded to 150 units in June 2022. Aberdeen Community Development planner Eric Miller said the operation was still active at the time of a recent interview, but no licensing is required to continue the facility.
Doeden’s own statements about his involvement are mixed. In a June 17 interview with the Aberdeen Insider, he said he no longer controls the real‑estate companies and that the properties were placed in a trust many years ago. He added that other family members manage day‑to‑day operations. However, his April 2026 Statement of Financial Interest filed with the South Dakota Secretary of State lists him as an owner, employee, shareholder, partner, or shareholder of 24 companies, and names him as a partner in Plaza Rentals.
The trust that holds the Aberdeen properties is not publicly disclosed, as South Dakota law protects trust information. The trust’s beneficiaries are unknown, and it is unclear whether it is revocable or irrevocable.
Campaign financing is also well documented. Doeden self‑funded the race with a $2 million loan in 2025 and another $2 million loan in 2026. Roughly $1.4 million of the 2026 loan went to advertising, and $210,000 was spent on staff salaries.
The Republican primary on June 2, 2026 produced no candidate with more than 35 percent of the vote. Doeden, who received 31 percent, advanced to a runoff against incumbent Governor Larry Rhoden, who received 25 percent. The runoff will take place on July 28, with the winner facing Democrat Dan Ahlers in the November 3 general election.
No legal or civil issues have been reported against Doeden’s companies. All but one of the LLCs remain active on the Secretary of State’s website, with the exception of Scotty’s Diner, LLC, which closed in 2024. Better Business Bureau records and consumer‑protection portal searches show the companies are in good standing.
The extent of Doeden’s financial stake in his companies remains unclear. While public filings list him as a partner or shareholder, the trust structure and the division of ownership among family members mean that the actual percentage of ownership and income derived from the properties is not publicly available.
The upcoming runoff will likely bring further scrutiny of Doeden’s business ties, especially as his platform centers on eliminating property taxes that fund local services. The state’s tax revenue, which exceeds $1.78 billion annually, would need to be replaced by other means if Doeden’s proposal were adopted.
In summary, Toby Doeden’s business empire spans real‑estate, automotive, cryptocurrency mining, and charitable activities. Public records confirm his involvement in 24 companies, ownership of Aberdeen dealerships, and a significant property portfolio in Aberdeen and surrounding areas. The full extent of his financial interests, however, remains partially obscured by trust arrangements and family‑managed structures.
The runoff election on July 28 will determine whether Doeden’s business experience translates into statewide leadership, and whether his property‑tax elimination plan can be reconciled with the state’s fiscal needs.
Public filings reveal that Doeden is connected to 24 limited‑liability companies, the bulk of which are real‑estate holding firms such as Plaza Rentals LLP, Tenth Street Properties LLC, and Five‑Star Management LLC. Together, these entities own more than $30 million of property in and around Aberdeen, a figure that the Brown County Equalization Department lists as an assessed value of at least $34.2 million. The property‑tax commitment for the year stands at $558,129.
Doeden’s automotive interests are equally prominent. He owns Aberdeen Chrysler and Redfield Ford, and he oversaw the sale of the Aberdeen Chrysler Center to the Rydell Automotive Group. In 2020, the dealership received a $1.1 million Paycheck Protection Program loan, a record that appears in the federal PPP database. Doeden has said the loan preserved 150 jobs, although the PPP data do not provide a breakdown of job‑saving claims.
Beyond buying and selling, the portfolio includes a tax‑increment financing (TIF) district on North 2nd Street, now known as 4J Commons. Established in 2023 and slated to mature in 2043, the district was created to redevelop a dilapidated apartment complex, and its name references Doeden’s four children. He also runs the 4J Foundation, a charitable organization.
The companies have branched into cryptocurrency mining as well. A zoning permit issued in February 2022 allowed 70 bitcoin‑mining units on land adjacent to the dealership; the permit was upgraded to 150 units in June 2022. Aberdeen Community Development planner Eric Miller said the operation was still active at the time of a recent interview, but no licensing is required to continue the facility.
Doeden’s own statements about his involvement are mixed. In a June 17 interview with the Aberdeen Insider, he said he no longer controls the real‑estate companies and that the properties were placed in a trust many years ago. He added that other family members manage day‑to‑day operations. However, his April 2026 Statement of Financial Interest filed with the South Dakota Secretary of State lists him as an owner, employee, shareholder, partner, or shareholder of 24 companies, and names him as a partner in Plaza Rentals.
The trust that holds the Aberdeen properties is not publicly disclosed, as South Dakota law protects trust information. The trust’s beneficiaries are unknown, and it is unclear whether it is revocable or irrevocable.
Campaign financing is also well documented. Doeden self‑funded the race with a $2 million loan in 2025 and another $2 million loan in 2026. Roughly $1.4 million of the 2026 loan went to advertising, and $210,000 was spent on staff salaries.
The Republican primary on June 2, 2026 produced no candidate with more than 35 percent of the vote. Doeden, who received 31 percent, advanced to a runoff against incumbent Governor Larry Rhoden, who received 25 percent. The runoff will take place on July 28, with the winner facing Democrat Dan Ahlers in the November 3 general election.
No legal or civil issues have been reported against Doeden’s companies. All but one of the LLCs remain active on the Secretary of State’s website, with the exception of Scotty’s Diner, LLC, which closed in 2024. Better Business Bureau records and consumer‑protection portal searches show the companies are in good standing.
The extent of Doeden’s financial stake in his companies remains unclear. While public filings list him as a partner or shareholder, the trust structure and the division of ownership among family members mean that the actual percentage of ownership and income derived from the properties is not publicly available.
The upcoming runoff will likely bring further scrutiny of Doeden’s business ties, especially as his platform centers on eliminating property taxes that fund local services. The state’s tax revenue, which exceeds $1.78 billion annually, would need to be replaced by other means if Doeden’s proposal were adopted.
In summary, Toby Doeden’s business empire spans real‑estate, automotive, cryptocurrency mining, and charitable activities. Public records confirm his involvement in 24 companies, ownership of Aberdeen dealerships, and a significant property portfolio in Aberdeen and surrounding areas. The full extent of his financial interests, however, remains partially obscured by trust arrangements and family‑managed structures.
The runoff election on July 28 will determine whether Doeden’s business experience translates into statewide leadership, and whether his property‑tax elimination plan can be reconciled with the state’s fiscal needs.
