Thanks to a buoyant stock market, the richest people in the U.S. just
keep getting richer. That has made it harder than ever to join the
ranks of the 400 wealthiest Americans. The price of entry to The Forbes 400
this year is $1.55 billion, the highest it’s been since Forbes started
tracking American wealth in 1982. Last year it took $1.3 billion to
score a spot. Because the bar is so high, 113 U.S. billionaires didn’t
make the cut.
The Microsoft MSFT -0.27% chairman’s stake in the software company he cofounded accounts for just under 20% of his total net worth. His friend Warren Buffett, chief executive of Berkshire Hathaway , occupies the number two spot on the 400 (he’s been number 2 since 2001) with a net worth of $67 billion. Larry Ellison,
who just announced that he was giving up the CEO role at Oracle, the
software firm he founded, comes in at number three, with a net worth of
$50 billion.
Facebook cofounder and CEO Mark Zuckerberg is now the 11th
richest person in the U.S., and the biggest dollar gainer on the list.
His fortune soared to $34 billion, up $15 billion since last year, due
to a sharp rise in the price of the social network’s shares. In
percentage terms, Nick Woodman, founder of wearable video camera company
GoPro, jumped the most, with a 200% increase in his net worth since
last year, to $3.9 billion. GoPro went public in June; the stock has
been on a tear as more people buy GoPro cameras and strap them onto bike
helmets, surfboards, scuba gear and more.
All together the 400 wealthiest Americans are worth a staggering $2.29 trillion, up $270 billion from a year ago.
The average net worth of list members is $5.7 billion, $700 million
more than last year and a record high. An impressive 303 of the 400 saw
the value of their fortunes rise compared to a year ago. Only 36 people
from last year’s list had lower net worths this year. Twenty-six people
fell off the list; another six people died, including businessman and
Tampa Bay Buccaneers owner Malcolm Glazer.
Just 30 years
old, the Stanford University dropout has built blood testing company
Theranos into a firm that venture capitalists have valued at $9 billion.
She owns 50% of it.
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