Tech billionaire Elon Musk has once again topped the Forbes rich list for the third consecutive year, even though his net worth has decreased by $7 billion. Musk, with a fortune of $244 billion, has maintained his position as the richest person in the U.S. since 2022, boosted by an 11% increase in his stock value.
Notable Changes in the Rich List
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Mark Zuckerberg, founder of Facebook, has risen to No. 3 on the list after his net worth surged by $75 billion in the past year, thanks to a rebound in Meta’s stock. He is now worth $181 billion. Meanwhile, Amazon founder Jeff Bezos remains the second richest person in the country, with a wealth of $197 billion.
In contrast, Microsoft co-founder Bill Gates has dropped to his lowest position in nearly 25 years. Despite still holding $107 billion, Gates slipped from No. 6 to No. 9 following his 2021 divorce from Melinda French Gates, with Forbes significantly increasing its estimate of the divorce settlement.
Other Key Rankings and Updates
Google executives Larry Page and Sergey Brin continue to grow their fortunes, securing the 6th and 7th spots, respectively. However, pop superstar Taylor Swift, despite becoming a billionaire in October 2023, did not make the Forbes 400 Rich List.
Mackenzie Scott, Jeff Bezos’s ex-wife, has also dropped out of the top 25, as she continues her philanthropic efforts by giving away a large portion of her wealth. Additionally, Nike founder Phil Knight’s fortune took a hit due to a drop in the sports brand’s stock price.
Collective Wealth and Philanthropy
The top 25 billionaires on the Forbes 400 list are worth a combined $2.5 trillion, representing nearly half of the list’s total wealth of $5.4 trillion. This group has become $471 billion richer than in 2023, with the top 25 names seeing a 31% increase in their fortunes.
Forbes also highlighted that Musk and Oracle’s Larry Ellison are the most philanthropic billionaires, followed closely by Bezos and Zuckerberg.
Billionaires by State
California leads with the highest number of billionaires per state, housing 82 of the wealthiest individuals, primarily thanks to Silicon Valley. New York and Florida follow with 57 billionaires each, while Texas comes in third with 43.
Global Billionaire Trends
Globally, the wealth of billionaires has reached new heights, with a combined fortune of $14.2 trillion—an increase of $2 trillion from 2023. Two-thirds of the world’s richest are wealthier than they were a year ago, while only a quarter have seen their fortunes shrink. The U.S. holds the most billionaires, with 813 individuals worth a combined $5.7 trillion, followed by China with 473 billionaires worth $1.7 trillion.