America’s 400 richest individuals have seen their fortunes reach new heights, with a collective net worth of $5.4 trillion, an increase of nearly $1 trillion over the past year. The entry point to make the list has also risen to a record $3.3 billion, up from $2.9 billion in the previous year. The top 25 individuals on the list, including billionaires like Elon Musk, Jeff Bezos, and Mark Zuckerberg, account for a significant portion of this wealth, holding more than $2.5 trillion altogether.
Elon Musk retains his title as the richest person in America for the third consecutive year, with an estimated net worth of $244 billion. Despite a slight drop in wealth over the past year, Musk remains ahead of Jeff Bezos, who is worth an estimated $197 billion. Mark Zuckerberg has climbed to the third position with an estimated net worth of $181 billion, thanks to the rebound in shares of Meta, the parent company of Facebook, Instagram, and WhatsApp.
Alice Walton continues to be the richest woman in the U.S., with a net worth of $89.2 billion, making her the 15th wealthiest individual on the list. The number of women on the list has increased to 67, with a combined net worth of $839 billion. Self-made women like Diane Hendricks, with a net worth of $21.9 billion, are part of a record number of 13 women who built their fortunes rather than inherited them.
A majority of the individuals on The Forbes 400 list are self-made billionaires, with 67% having founded their own companies or played a significant role in building them. The list includes individuals with diverse backgrounds and paths to wealth, with only 25 out of the 400 identified as true rags-to-riches stories. Despite the increased entry point for the list, 23 newcomers were able to join this year, with notable names like Todd Graves, Peter Cancro, and Jayshree Ullal.
Several billionaires who previously dropped off the list have made a comeback this year, including Donald Trump, whose wealth has grown due to the performance of Truth Social parent-company Trump Media & Technology Group. However, some individuals, like Vince McMahon and Aneel Bhusri, have been displaced from the list despite their increased wealth over the past year. The number of American billionaires who are not on The Forbes 400 has surpassed those on the list, with famous individuals like Arnold Schwarzenegger and Oprah Winfrey not meeting the entry point.
The diversity among the Forbes 400 listees is evident, with the youngest member being 38-year-old Lukas Walton and the oldest being 101-year-old David Murdock. While the net worths of the richest Americans have seen significant growth, their philanthropic efforts have not kept pace, with a third of the list having donated less than 1% of their fortunes. Only 10 individuals have given away 20% or more of their wealth, earning the highest philanthropy score. More information on how Forbes calculates The Forbes 400 can be found on their website.
