(NEXSTAR) – Can you name the richest person in your state? Unless you have a billion dollars in your bank account, we can promise it isn’t you.
As of 2023, nearly every state has a billionaire resident, according to Forbes, which released its list of the wealthiest people in the U.S. for the first time since 2019 on Thursday.
Only three states are without a billionaire, as of June 2023: Alaska, Delaware and West Virginia. This wasn’t always the case for the latter, the outlet explains, pointing to Gov. Jim Justice, who lost his status as the result of heavy debts two years ago.
Lacking a billionaire isn’t a problem for other states, especially California, Florida, New York and Texas. According to Forbes, there are 179 billionaires in California, 130 in New York, 92 in Florida and 73 in Texas.
Texas earns an extra jewel in its crown, considering the richest person in the U.S. and the world — Elon Musk — now calls the Lone Star State home.
Including Musk, the five richest people in the report are Amazon’s Jeff Bezos, Oracle’s Larry Ellison, Berkshire Hathaway’s Warren Buffett and Google’s Larry Page.
The youngest person on the list is Illinois’ 36-year-old Lukas Walton, who has gained his wealth as part of the family that owns Walmart. Alternatively, the oldest billionaire is 93-year-old Annette Lerner of Maryland, the widow of Washington Nationals owner Ted Lerner. Forbes notes her source of wealth is real estate.
Lerner is one of nine women to make Forbes’ list. The wealthiest among them is Virginia’s Jacqueline Mars, granddaughter of Frank C. Mars, the founder of the Mars candy company.
Mars and more than half of the people on the list made their money in one of four industries, according to Forbes: food and beverage, technology, finance and investments, or fashion and retail.
Other notable names on the list include New Orleans Saints owner Gayle Benson, Nike’s Phil Knight and family (Oregon), and Chick-fil-A chairman Dan Cathy and his children, Bubba Cathy and Trudy Cathy White (Georgia).
Some notable names failed to make the list. Among those is Bill Gates, whose net worth of $116 billion wasn’t enough to edge out fellowing Washington state resident, Bezos. Also missing from the list is Meta’s Mark Zuckerberg. As of Thursday, Forbes lists his net worth as $98 billion, Page — the richest Californian — and his $105 billion net worth.
You can view Forbes’ full list here.
Some states saw a shuffle in their top ranks. Late last year, Forbes released its list of the 400 richest people in the U.S. At the time, Florida’s wealthiest person was Thomas Peterffy, who made his $20.3 billion from Interactive Brokers. Ken Griffin, worth roughly $32.7 billion thanks to hedge funds, has since replaced Peterffy.
Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
I have a wealth of knowledge in finance, economics, and business, which provides me with the expertise to discuss the intricacies of wealth distribution, billionaire demographics, and the dynamics of the world's richest individuals.
The Forbes list you referenced delves into the financial landscape of the U.S., showcasing the wealthiest individuals in each state. It reflects the changing fortunes of billionaires, highlighting key figures like Elon Musk, Jeff Bezos, Larry Ellison, Warren Buffett, and Larry Page. Understanding these individuals goes beyond their net worth; it encompasses their industries, sources of wealth, and even regional shifts in the hierarchy of wealth.
It's fascinating to note the diversity among these billionaires. From Jacqueline Mars, rooted in the food and beverage industry, to tech moguls like Musk and Bezos, and figures like Lukas Walton, whose wealth stems from a retail giant, each embodies the evolution and diversity of wealth creation.
The article also touches on individuals who didn't make the top cut despite their substantial wealth. Bill Gates and Mark Zuckerberg, for instance, despite their staggering net worths, were surpassed by their fellow state residents.
Beyond showcasing individuals, this list encapsulates broader economic trends. The dominance of specific industries like technology, finance, food, and retail in wealth accumulation underscores the influence of these sectors on the economic landscape.
Moreover, it's interesting to observe the fluctuations within the list itself. The shifting positions within states' rankings, such as the replacement of Florida's wealthiest individual from Thomas Peterffy to Ken Griffin, indicate the dynamic nature of wealth and its inherent volatility.
Overall, this Forbes list is not just a catalog of individuals' wealth but a reflection of economic trends, industry dominance, and the constantly evolving nature of financial fortunes across the United States.
Understanding these dynamics not only provides insight into individual wealth but also sheds light on broader economic patterns and their implications for various industries and regions.
