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How Many Billionaires in the US?

How Many Billionaires in the US?

Money is a favorite topic of most people. Many social networks, magazines, and other sources constantly talk about the richest people in the world. It may seem as if billionaires are everywhere. But America’s wealthiest people are not that many. As of 2024, the number is just over 800. Millionaires are an order of magnitude more – practically 22,000,000 Americans. In our material below, we will delve into the topic of billionaires in more detail and provide specific names.

How many billionaires Are in America?

As of September 2024, the number of billionaires in America is 801. The combined net worth of their capital is equal to 6.22 trillion USD. Forbes analysis data shows that there are 801 billionaires living in America today. Compared to Forbes statistics for the same time in 2023, the number of billionaires has decreased by 11. Despite the decrease in rich people, their assets have increased. The combined worth of wealth has increased by 500 million USD. The growth was noticeable during the last five months.

At the moment, the list of rich people looks as follows:

  • Elon Musk is the richest person in the world. The owner of Tesla/X and SpaceX has a capital of 259.6 billion USD.
  • Larry Ellison, the former CEO of Oracle, now has 203 billion USD, which puts him on the fifth line of the list.
  • Mark Zuckerberg. The co-founder of Meta has a fortune of 193,3 billion USD.
  • Bernard Arnault. The capital of the French president and CEO of Louis Vuitton Moët Group is also 174.2 billion USD.
  • Jensen Huang. The president and CEO of NVIDIA currently has 104.2 billion USD.
  • Savitri Jindal is the richest woman in the world. According to Forbes, the Indian businesswoman and politician has a total net worth of 41.1 billion USD.
  • Alice Walton, the only daughter of the founder of the world-famous Walmart chain, has a total capital of 88.8 billion USD.
  • Jim Walton, the chairman and CEO of Arvest Bank Group, Inc., has a total capital value of 96.2 billion USD.
  • Rob Walton is a director of the Walmart chain. His total capital value is estimated at 97.2 billion USD in 2024.
  • Daniel Gilbert completes our selection of the richest people in America. He is the founder and head of the board of Rock Ventures and Quicken Loans Inc. His capital now stands at 32.7 billion USD.

net worth of wealthiest people USA

Also, separately, it is worth noting the wealthiest families. At the moment, this list includes three families:

  • Walton. This family has 6 members with a total fortune of 349.3 billion USD.
  • Mars. The family also includes 6 members, but its total financial condition is estimated at 142.7 billion USD.
  • Koch. Although this family has only 2 members, its total wealth is estimated at 141.6 billion USD. This wealth almost corresponds to the Mars family’s, but this amount falls on 6 people in the latter.

Since Forbes started tracking the world’s wealth in 1982, there have been only 16 billionaires on its list. You had to have a capital of 75 million USD or more to get there. To get on the list of the wealthiest people, you must have a capital of at least 3.2 billion USD.

Note that the fortunes of most billionaires increased rapidly with the beginning of the COVID-19 pandemic. For example, in March 2020, Elon Musk’s fortune was almost 25 billion USD. By the beginning of 2021, his capital increased to an impressive 185 billion USD. In 2022, his financial fortune peaked at 252 billion USD. As of 2024, Musk will be at the top of the list of the richest people.

Which States Have the Most Billionaires

numbers of billionaires by states

We also suggest checking out the list of states with the most billionaires. We want to say in advance that this list is not the same as the one above:

  1. California – 186 people.
  2. New York – 135 people.
  3. Florida – 78.
  4. Texas – 73.
  5. Illinois – 23.
  6. Massachusetts – 22.
  7. Georgia – 18 billionaires
  8. Pennsylvania – 18.
  9. Nevada – 17.
  10. Connecticut – 13 people.

It’s worth noting that there are also a few states where no billionaires are found:

  • West Virginia;
  • North Dakota;
  • New Mexico;
  • Alaska;
  • Vermont;
  • Alabama.

At the same time, Washington, D.C., has the highest number of billionaires per 1 million population — 11 billionaires.

The Combined Wealth of US Billionaires

The net worth of all U.S. billionaires has increased by 88% in the last four years since the coronavirus pandemic started. However, as of March 2020, the number of billionaires in the U.S. was 614. Their combined fortune was 2.9 trillion USD.

Four years later, in March 2024, Forbes published its list of billionaires, but the number in the country was 737 people. Their combined fortune is 5.5 trillion USD, an 88% increase. The fortune is counted continuously based on Forbes Real Time Billionaire Data.

The rapid growth of capital can be seen in the example of Jeff Bezos. The Amazon founder’s capital increased from 113 billion USD to 192.8 billion USD in four years. This amount remained with him after he paid tens of billions as compensation after divorce proceedings. Also, Jeff Bezos regularly donates money to charity.

The financial condition of the main heirs to Walmart’s fortune has also increased quite noticeably. The three members of the Walton family—Alice, Rob, and Jim—have seen their combined assets increase from 161.1 billion USD to 229.6 billion USD. In 2020, only one American billionaire —Jeff Bezos — had over 100 billion USD in aggregate.

But among the rich people, it was not without losses either. The only billionaire on the list of the 15 wealthiest Americans in 2020 whose net worth has decreased over the past four years was Mackenzie Scott. She is Bezos’s ex-wife. Her net worth decreased from 36 to 35.4 billion USD during this time. It is worth noting that this happened due to quite aggressive philanthropy.

Challenges of America’s Billionaires

The total net worth of the 400 wealthiest individuals in the USA exceeds 4 trillion USD, a staggering figure highlighting the exponential wealth growth among the rich. However, this prosperity is not without its challenges, with rising prices being a significant concern.

To summarise, there are quite a few billionaires in the United States. As of September 2024, their number was 801. Given the data and dynamics in the economic world, rich people are constantly increasing their capital. But there is also another question—how to keep it. Time will show how effectively they do it.

Sources:

  1. Forbes.com
  2. Madisontrust.com
  3. Inequality.org

 

Date:7 October 2024
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