Forbes Releases 37th Annual Forbes 400 Ranking of the Richest Americans

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Oct 16, 2018, 12:53 ET


NEW YORK, Oct. 16, 2018 /PRNewswire-iReach/ -- NEW YORK – On Sale Now– The billionaires on Forbes' 2018 ranking of the 400 richest people in America, ("The Forbes 400" p. 127 of the October 31, 2018 Special Issue of Forbes magazine), have a record-breaking, combined total net worth of $2.9 trillion, up from $2.7 trillion in 2017. The minimum net worth now required to be counted among the very richest Americans hit an all-time high of $2.1 billion, up from $2 billion in 2017. Even at these new heights, 15 newcomers made this year's list. But more billionaires than ever were too poor to make the ranks: 204 Americans with 10-figure fortunes fell short. The average net worth of a Forbes 400 member hit $7.2 billion, also a record high, up from $6.7 billion a year ago.

"We're seeing more billionaires than ever before, thanks in part to the strong stock market and continuing tech boom. For the first time, more than a third of U.S. billionaires were too poor to make this elite list of the nation's 400 richest," said Luisa Kroll and Kerry Dolan, assistant managing editors of wealth at Forbes Media.

Amazon's Jeff Bezos, whose fortune jumped $78.5 billion in one year, leads The Forbes 400 list this year, with a net worth of $160 billion – by far the highest ever. Bill Gates, worth $97 billion, who held the No. 1 spot for 24 consecutive years, is now ranked at No. 2 on the list. Warren Buffett, worth $88.3 billion, comes in at No. 3. Facebook's Mark Zuckerberg holds spot No. 4 with a net worth of $61 billion, despite being $10 billion poorer than he was a year ago. Rounding out the top 5 is Larry Ellison, worth $58.4 billion.

Donald Trump's ranking dropped to No. 259 on the list but his net worth remained the same from last year at $3.1 billion. Trump was ranked No. 248 in 2017. As part of the Forbes 400 package, Forbes unveils a new in-depth analysis of how President Donald Trump's businesses have been affected by his Presidency - How Trump is Trying, and Failing to Get Rich Off His Presidency.

For the first time ever, we scored members of The Forbes 400 based on how philanthropic they were. Forbes looked at a number of factors, including their lifetime giving and lifetime giving as a percentage of their fortune. We also highlighted a dozen of the list's top impact investors.

ON THE COVER: Forbes staff writer Biz Carson interviewed Brian Chesky, CEO of Airbnb, on reinventing the hospitality industry. He shares that the company is looking to expand quickly to support its $31 billion valuation before it goes public. For the complete story, visit: https://www.forbes.com/sites/bizcarson/2018/10/03/old-unicorn-new-tricks-airbnb-has-a-sky-high-valuation-heres-its-audacious-plan-to-earn-it/

2018 Forbes 400 Top 10

For the complete ranking, methodology and more, visit: about:blank [http://www.forbes.com/forbes-400

2018 Forbes 400 Highlights:

  •      This is the first year that Jeff Bezos is in the No. 1 spot, and also the first time anyone has had a 12-figure fortune on The Forbes 400.
  •      Women: 57  ** includes 2 women who share fortunes with and are listed with their husbands (vs. 55 last year, including 5 women listed with their husbands)
  •      Self-made Forbes 400 members: 269 (vs. 267 in 2017)
  •      Youngest Forbes 400 member: Evan Spiegel (cofounder/CEO of Snapchat), age 28, worth $2.3 billion, down from $3.1 billion in 2017. He is one of 12 under the age of 40.
  •      Oldest Forbes 400 Member:
  •      Sumner Redstone, age 95. Chairman Emeritus of Viacom, worth $4.8 billion (No. 143)
  •      The top three industries are:
  •      Finance and Investments: 88
  •      Technology: 65
  •      Food and Beverage: 45
  •      Drop-offs: 17 people who appeared on the 2017 Forbes 400 missed the cut this year, including:
  •      David Murdock age 95, who was the oldest member on last year's list. He's now worth $2 billion
  •      Reid Hoffman LinkedIn cofounder quietly gave away $1.5 billion, knocking him from the ranks
  •      Bill Gross, Pimco founder drops off after giving his ex-wife more than $1 billion
  •      Peter Buck, Subway cofounder whose fortune sputtered along with his troubled sandwich chain  
  •      Newcomers: 15 newcomers joined The Forbes 400 this year, including:
  •      Dropbox founder Drew Houston
  •      Wayfair founders Niraj Shah and Steve Conine
  •      Ripple chairman and cofounder Chris Larsen, the first ever person to make the list thanks to crypto-currency
  •      In-N-Out burger chain president Lynsi Snyder, who at 36 is also the youngest woman in the ranks

Other feature stories include:

  •      Seller's Remorse (p. 52):  Brian Acton, cofounder of WhatsApp, shares details on his exit from Facebook last year to focus on nonprofit work.
  •      The Price of the Presidency (p. 62):  President Donald Trump's net worth has decreased since he entered politics in 2015.
  •      Mom and Pop's Best Friend (p. 84): Cofounders of Mailchimp, Ben Chestnut and Dan Kurzius, have built their fortunes by helping small businesses grow.
  •      California Dreamer (p. 90): Los Angeles real estate billionaire Rick Caruso mixes childhood lessons with e-commerce skills to thrive as a shopping mall owner.                                                                                                                         

For the complete Forbes 400 ranking, methodology and more, visit: http://www.forbes.com/forbes-400

Follow Forbes on Twitter: @Forbes and follow along using #Forbes400

*Please include a link back to http://www.forbes.com/forbes-400 in any coverage*

Media Contact: Christina Vega, Forbes Media, 212-206-5155, [email protected]

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SOURCE Forbes Media

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