(NEXSTAR) – Though Texas isn’t home to the majority of America’s richest people – California holds that title – it is home to the wealthiest American, according to Forbes. He’s one of 43 Texas residents that made Forbes’ list this year, even though his net worth just took a hit.
That’s right, Elon Musk, the man behind Tesla and SpaceX, and the newest CEO of Twitter, is Texas’ wealthiest person. When Forbes released its listof the 400 wealthiest people living in America, Musk’s net worth sat at $251 billion. As of Friday, his net worth is listed as slightly less than $175 billion, according to Forbes, which is still roughly $25 billion more than the next wealthiest American, Amazon founder Jeff Bezos.
Other Texas billionaires have gained wealth through various ventures, including retail, athletics, oil, investments, hearing aids, and alcohol.
After Musk, Alice Walton ranks as the second-wealthiest Texas resident and the richest woman in the Lone Star State. According to Forbes, the main source of her wealth stems from Walmart – she’s the only daughter of the retail chain’s founder, Sam Walton. She doesn’t work for Walmart like her brothers, Rob and Jim, but instead serves as chairman for the Crystal Bridges Museum of American Art in Bentonville, Arkansas.
Among the wealthiest Texans are Michael Dell, chairman and CEO of Dell Technologies; Jerry Jones, owner of the Dallas Cowboys; spouses Stanley Kroenke and Ann Walton Kroenke (though ranked separately); Tilman Fertitta, owner of the Houston Rockets; Airbnb co-founder Joe Gebbia; and Mark Cuban, owner of the Dallas Mavericks.
Here are the 15 richest people in Texas, their sources of wealth, and wealth at the time Forbes released its list:
- Elon Musk (Tesla, SpaceX) – $251 billion
- Alice Walton (Walmart) – $55.7 billion
- Michael Dell (Dell Technologies) – $50 billion
- Jerry Jones (Dallas Cowboys) – $16 billion
- Stanley Kroenke (sports, real estate) – $12.9 billion
- Jeffery Hildebrand (oil) – $11 billion
- Andrew Beal (banks, real estate) – $10.3 billion
- Autry Stephens (oil) – $10 billion
- Ann Walton Kroenke (Walmart) – $8.3 billion
- Robert F. Smith (private equity) – $8 billion
- Tilman Fertitta (Houston Rockets, entertainment) – $7.7 billion
- Joe Gebbia (Airbnb)- $7.6 billion
- Charles Butt (supermarkets) – $7.5 billion
- Richard Kinder (pipelines) – $7.3 billion
- Dannine Avara (pipelines) – $6.9 billion
Musk was the only Texas resident to rank among the top 10 wealthiest Americans on Forbes’ list. He edged out Amazon’s Jeff Bezos and Microsoft’s Bill Gates.
You can view Forbes’ full list and methodologyhere.
Absolutely, diving into the wealth landscape of Texas and the individuals listed in the Forbes article is fascinating! Elon Musk's prominence, particularly as the wealthiest Texan, reflects not only his entrepreneurial prowess but also the dynamic nature of the state's economy and the diverse industries contributing to its wealth accumulation.
Let's break down the concepts and individuals highlighted in the article:
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Elon Musk: Known for his ventures like Tesla, SpaceX, and more recently as the CEO of Twitter, his net worth fluctuated significantly between $251 billion and around $175 billion.
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Alice Walton: Holding the position as the second-wealthiest Texan, her wealth is primarily associated with Walmart, stemming from her lineage as the daughter of Walmart's founder, Sam Walton.
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Michael Dell: The chairman and CEO of Dell Technologies, a pivotal figure in the tech industry, amassing wealth from this enterprise.
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Jerry Jones: The owner of the Dallas Cowboys, his wealth stems from sports ownership and related ventures.
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Stanley Kroenke: Known for interests in sports and real estate, contributing to a net worth of $12.9 billion.
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Jeffery Hildebrand: Gained wealth through oil-related ventures, holding a net worth of $11 billion.
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Andrew Beal: Acquired wealth from banking and real estate, with a net worth of $10.3 billion.
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Autry Stephens: Another figure in the oil industry, accumulating wealth worth $10 billion.
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Ann Walton Kroenke: Associated with Walmart and possessing a net worth of $8.3 billion.
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Robert F. Smith: Made wealth in private equity, totaling $8 billion.
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Tilman Fertitta: Known for owning the Houston Rockets and entertainment ventures, boasting a net worth of $7.7 billion.
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Joe Gebbia: Co-founder of Airbnb, holding a net worth of $7.6 billion.
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Charles Butt: Involved in supermarkets, accumulating wealth worth $7.5 billion.
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Richard Kinder and Dannine Avara: Both associated with pipelines, holding net worths of $7.3 billion and $6.9 billion, respectively.
This roster showcases the diversified sources of wealth in Texas, spanning industries like technology, retail, oil, sports, entertainment, and finance. The intricate network of wealth accumulation by these individuals reflects the economic vibrancy and entrepreneurial opportunities present in the state.
