A new number one and a record year for the wealthiest of America



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Members of the Forbes 400 Promotion of 2018: Lynsi Snyder of In N Out Burger; Thai Lee from SHI International; The founder and CEO of Amazon.com, Jeff Bezos; and Jack Dorsey, CEO of Twitter and Square.Forbes, Getty Images

Published by Luisa Kroll and Kerry A. Dolan

Supported in part by the strength of the stock market, the 400 wealthiest Americans recorded another record year. The minimum net worth needed to join this elite club reached $ 2.1 billion, up $ 100 million from last year and the highest to date. The group's total net worth reached $ 2,900 billion, a record 7% higher than in 2017. The average net worth of a member of the list is $ 7.2 billion, up from at $ 6.7 billion last year. At the top of the list, the average is strengthened: half of the total wealth is held by the 45 richest people in the country.

For the first time since 1994, a new number 1: Amazon.com founder and CEO Jeff Bezos has defeated Bill Gates 24 years at the top. Bezos is also the first person to be in the ranks with a fortune of more than 100 billion dollars, against 160 billion dollars. Bezos was also the biggest winner of this year's list: his fortune has grown by $ 78.5 billion since last year, thanks to the more than 100% rise in Amazon stock prices biggest gain since a year since we follow our example. Gates, now ranked No. 2, ahead of Bezos by a remarkable $ 63 billion. The 10 richest in the list together total nearly 730 billion dollars, against 610 billion dollars in 2017. More than a third of the country's billionaires, a record 204, were not rich enough to break the stick at these highs.

Jack Dorsey, the CEO of Twitter and the payment company Square, is the biggest winner. His fortune jumped 186% from last year to $ 6.3 billion, mainly due to the sharp rise in Square's share price.

George Soros, who lost $ 23 billion this year, went from $ 23 billion to $ 8.3 billion. The reason: end of 2017, Forbes learned that Soros had transferred $ 18 billion of his fortune into his Open Society charitable foundation. (Forbes does not count the assets of charitable foundations in the net worth of a person).

Donald Trump The ranking fell 11 places to No. 259 on the list, down from 248 last year, even though its net worth remained the same as last year, at 3.1. billions of dollars.

Even at the high entry point of $ 2.1 billion, 15 newcomers joined the ranks, with fortunes built in sectors as diverse as hearing aids, e-commerce and logistics. Twelve of the newcomers are independent, including Drew Houston, CEO of the online file-sharing company Dropbox; Thai Lee, a South Korean immigrant who has built a giant computer reseller; and Ben Chestnut and Dan Kurzius, co-founders of the email marketing company Mailchimp. Chris Larsen also makes his debut as the first person to appear on the Forbes 400 from a cryptocurrency fortune.

The number of women on the 400-person list has increased to 57, two of whom have co-founded businesses and shared a fortune with their husbands. This compares to 55 women on last year's list (five of them were listed with their co-founder husband). Lynsi Snyder, who inherited and runs California's famous In N Out hamburger chain, is one of the new arrivals. At 36, she is the youngest woman in the ranks.

The oldest person in Forbes 400 is Sumner Redstone, age 95, valued at $ 4.8 billion. The youngest is the co-founder and CEO of Snapchat, Evan Spiegel, 28 years old and worth $ 2.2 billion. He is one of 12 people under 40 on the list.

At 269, members with a fortune made by themselves far exceed the number of those who inherited wealth (64 members) and those who inherited a fortune and who worked significantly to its increase. Forbes calls "inherited and growing" (67 members).

For the first time, we scored each Forbes 400 donor for his philanthropic donations, scores ranging from 1 to 5, with 5 being the most philanthropic. For more details on our rating methodology, click here. The list can be sorted by philanthropy score here.

Our estimates provide a glimpse into the fortunes of America's wealthiest investors using stock prices as of September 7, 2018. Some of The Forbes' 400 titles get rich or depleted a few weeks or even days after they are released. We follow these changes at forbes.com/forbes-400. It's there that you will find more information about the members of the list, as well as photos, the philanthropy score, the score we have created and the continued coverage of these influential billionaires.

METHODOLOGY

This is the 37th year of Forbes 400's flagship list. Although we've been there for a long time, it's still a challenge. Our journalists dig deep. This year we started with a list of more than 700 people considered strong candidates. Where possible, we met in person with the 400 Forbes members and candidates or spoke with them by phone. We also interviewed their employees, managers, rivals, peers and lawyers. The discovery of their fortunes forced us to browse thousands of SEC documents, court records, probate and news articles. We took into account all types of assets: holdings in public and private companies, real estate, art, yachts, planes, ranches, vineyards, jewelry, car collections, etc.

We took the debt into account. Of course, we do not pretend to know what is in the private balance sheet of each billionaire, although some candidates have provided documents to this effect. Some billionaires presiding over private companies were happy to share their financial figures, but others were less open. To value private companies, we couple earnings or earnings estimates with the price / revenue or profit / earnings ratios in place for similar public companies.

We did not include scattered family fortunes. We have actually included wealth owned by the immediate relatives of a member if wealth could be attributed to a living founder of wealth. In this case, you will see "& family". We also include married couples who have built fortunes and businesses together Combined, they were worth more than $ 4.2 billion, which meant that each member of the couple would have the minimum value of $ 2.1 billion needed to be on the list. In these cases, we list both names. The Forbes 400 is a list of US citizens with assets in the United States.

Thanks

Special thanks to: FactSet; LW home consultants; Orbis by Bureau Van Dijk; Field book data; PropertyShark; Real Capital Analytics; S & P Capital IQ; and SHOOK Research. All who helped us with our reports and assessments: Stephen Algermissen, Cushman & Wakefield; Eric Anton, Marcus and Millichap; Bernstein Research; David Burgher, Briggs Freeman, Sotheby's International Realty; Ronald Buss, Buss Shelger Associates; Charity browser; S. Craig Cognetti, Grail Partners; Credit Suisse Investment Research; Dun & Bradstreet; Euromonitor International; Gayle Harvey Real Estate; Anthony Graziano, Integra Realty Resources; William Hanson, NAI James E. Hanson; Hilda W. Allen Real Estate; Jim Koppenhaver, Pellucid Corp .; Daniel Lesser, LW Home Advisor; Gail Lissner, Integra Realty Resources; Jack McCabe, McCabe Research & Consulting; Michael Pachter, Wedbush Securities; Joel Paige, Lansdowne Resort & Spa; S & P Global Market Intelligence; Sara Senatore, AB Bernstein; Wood Mackenzie; Hugh Wynne, SSR LLC.

editors

Luisa Kroll and Kerry A. Dolan

Supplementary edition

Abram Brown and Nathan Vardi

Reporters

Madeline Berg, Lisa Au-Yeung, Deniz Cam, Kathleen Chaykowski, Lauren Debter, Alex Fang, Max Jedeur-Palmgren, Madeline Kaufman, Noak Kirsch, Brian Aislinn, Linh Nguyen, Chloe Sorvino, Jennifer Wang, Jasmine Teng, Andrea Wang Helman

Additional reporting

Dan Alexander, Kurt Badenhausen, Biz Carson, Carter Coudriet, Hayley Cuccinello, Michael del Castillo, Antoine Gara, Naazneen Karmali, Jeff Kauflin, Alex Konrad, Joann Muller, Peterson-Withorn Chase, Natalie Robehmed, Samantha Sharf, Michela Tindera

Research

Sue Radlauer

Data base management

Dmitri Slavinsky

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Members of the Forbes 400 Promotion of 2018: Lynsi Snyder of In N Out Burger; Thai Lee from SHI International; The founder and CEO of Amazon.com, Jeff Bezos; and Jack Dorsey, CEO of Twitter and Square.Forbes, Getty Images

Published by Luisa Kroll and Kerry A. Dolan

Supported in part by the strength of the stock market, the 400 wealthiest Americans recorded another record year. The minimum net worth needed to join this elite club reached $ 2.1 billion, up $ 100 million from last year and the highest to date. The group's total net worth reached $ 2,900 billion, a record 7% higher than in 2017. The average net worth of a member of the list is $ 7.2 billion, up from at $ 6.7 billion last year. At the top of the list, the average is strengthened: half of the total wealth is held by the 45 richest people in the country.

For the first time since 1994, a new number 1: Amazon.com founder and CEO Jeff Bezos has defeated Bill Gates 24 years at the top. Bezos is also the first person to be in the ranks with a fortune of more than 100 billion dollars, against 160 billion dollars. Bezos was also the biggest winner of this year's list: his fortune has grown by $ 78.5 billion since last year, thanks to the more than 100% rise in Amazon stock prices biggest gain since a year since we follow our example. Gates, now ranked No. 2, ahead of Bezos by a remarkable $ 63 billion. The 10 richest in the list together total nearly 730 billion dollars, against 610 billion dollars in 2017. More than a third of the country's billionaires, a record 204, were not rich enough to break the stick at these highs.

Jack Dorsey, the CEO of Twitter and the payment company Square, is the biggest winner. His fortune jumped 186% from last year to $ 6.3 billion, mainly due to the sharp rise in Square's share price.

George Soros, who lost $ 23 billion this year, went from $ 23 billion to $ 8.3 billion. The reason: end of 2017, Forbes learned that Soros had transferred $ 18 billion of his fortune into his Open Society charitable foundation. (Forbes does not count the assets of charitable foundations in the net worth of a person).

Donald Trump The ranking fell 11 places to No. 259 on the list, down from 248 last year, even though its net worth remained the same as last year, at 3.1. billions of dollars.

Even at the high entry point of $ 2.1 billion, 15 newcomers joined the ranks, with fortunes built in sectors as diverse as hearing aids, e-commerce and logistics. Twelve of the newcomers are independent, including Drew Houston, CEO of the online file-sharing company Dropbox; Thai Lee, a South Korean immigrant who has built a giant computer reseller; and Ben Chestnut and Dan Kurzius, co-founders of the email marketing company Mailchimp. Chris Larsen also makes his debut as the first person to appear on the Forbes 400 from a cryptocurrency fortune.

The number of women on the 400-person list has increased to 57, two of whom have co-founded businesses and shared a fortune with their husbands. This compares to 55 women on last year's list (five of them were listed with their co-founder husband). Lynsi Snyder, who inherited and runs California's famous In N Out hamburger chain, is one of the new arrivals. At 36, she is the youngest woman in the ranks.

The oldest person in Forbes 400 is Sumner Redstone, age 95, valued at $ 4.8 billion. The youngest is the co-founder and CEO of Snapchat, Evan Spiegel, 28 years old and worth $ 2.2 billion. He is one of 12 people under 40 on the list.

At 269, members with a fortune made by themselves far exceed the number of those who inherited wealth (64 members) and those who inherited a fortune and who worked significantly to its increase. Forbes calls "inherited and growing" (67 members).

For the first time, we scored each Forbes 400 donor for his philanthropic donations, scores ranging from 1 to 5, with 5 being the most philanthropic. For more details on our rating methodology, click here. The list can be sorted by philanthropy score here.

Our estimates provide a glimpse into the fortunes of America's wealthiest investors using stock prices as of September 7, 2018. Some of The Forbes' 400 titles get rich or depleted a few weeks or even days after they are released. We follow these changes at forbes.com/forbes-400. It's there that you will find more information about the members of the list, as well as photos, the philanthropy score, the score we have created and the continued coverage of these influential billionaires.

METHODOLOGY

This is the 37th year of Forbes 400's flagship list. Although we've been there for a long time, it's still a challenge. Our journalists dig deep. This year we started with a list of more than 700 people considered strong candidates. Where possible, we met in person with the 400 Forbes members and candidates or spoke with them by phone. We also interviewed their employees, managers, rivals, peers and lawyers. The discovery of their fortunes forced us to browse thousands of SEC documents, court records, probate and news articles. We took into account all types of assets: holdings in public and private companies, real estate, art, yachts, planes, ranches, vineyards, jewelry, car collections, etc.

We took the debt into account. Of course, we do not pretend to know what is in the private balance sheet of each billionaire, although some candidates have provided documents to this effect. Some billionaires presiding over private companies were happy to share their financial figures, but others were less open. To value private companies, we couple earnings or earnings estimates with the price / revenue or profit / earnings ratios in place for similar public companies.

We did not include scattered family fortunes. We have actually included wealth owned by the immediate relatives of a member if wealth could be attributed to a living founder of wealth. In this case, you will see "& family". We also include married couples who have built fortunes and businesses together Combined, their value exceeds $ 4.2 billion, which means that each member of the couple will have the minimum value of $ 2.1 billion needed to be on the list. In these cases, we list both names. The Forbes 400 is a list of US citizens with assets in the United States.

Thanks

Special thanks to: FactSet; LW home consultants; Orbis by Bureau Van Dijk; Field book data; PropertyShark; Real Capital Analytics; S & P Capital IQ; and SHOOK Research. All who helped us with our reports and assessments: Stephen Algermissen, Cushman & Wakefield; Eric Anton, Marcus and Millichap; Bernstein Research; David Burgher, Briggs Freeman, Sotheby's International Realty; Ronald Buss, Buss Shelger Associates; Charity browser; S. Craig Cognetti, Grail Partners; Credit Suisse Investment Research; Dun & Bradstreet; Euromonitor International; Gayle Harvey Real Estate; Anthony Graziano, Integra Realty Resources; William Hanson, NAI James E. Hanson; Hilda W. Allen Real Estate; Jim Koppenhaver, Pellucid Corp .; Daniel Lesser, LW Home Advisor; Gail Lissner, Integra Realty Resources; Jack McCabe, McCabe Research & Consulting; Michael Pachter, Wedbush Securities; Joel Paige, Lansdowne Resort & Spa; S & P Global Market Intelligence; Sara Senatore, AB Bernstein; Wood Mackenzie; Hugh Wynne, SSR LLC.

editors

Luisa Kroll and Kerry A. Dolan

Supplementary edition

Abram Brown and Nathan Vardi

Reporters

Madeline Berg, Lisa Au-Yeung, Deniz Cam, Kathleen Chaykowski, Lauren Debter, Alex Fang, Max Jedeur-Palmgren, Madeline Kaufman, Noak Kirsch, Brian Aislinn, Linh Nguyen, Chloe Sorvino, Jennifer Wang, Jasmine Teng, Andrea Wang Helman

Additional reporting

Dan Alexander, Kurt Badenhausen, Biz Carson, Carter Coudriet, Hayley Cuccinello, Michael del Castillo, Antoine Gara, Naazneen Karmali, Jeff Kauflin, Alex Konrad, Joann Muller, Peterson-Withorn Chase, Natalie Robehmed, Samantha Sharf, Michela Tindera

Research

Sue Radlauer

Data base management

Dmitri Slavinsky

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