Elon Musk wealthiest in US, Bill Gates down to No. 9 on Forbes400 ranking

Elon Musk, who co-founded seven companies including Tesla and SpaceX, topped the Forbes 400 of the US’ richest people with a net worth of $244 billion.

In all, they are worth a record $5.4 trillion, up nearly $1 trillion from last year. A dozen have $100 billion-plus fortunes, also a record. 

And admission to this elite club is pricier than ever: A minimum net worth of $3.3 billion is required, up $400 million since 2023.

Despite the high bar, 23 newcomers managed to break into the ranks, having grown their fortunes in everything from mundane plastic pipes to cutting-edge artificial intelligence (AI).

The billionaires listed in the Forbes 400 had an average age of 70 years. Meanwhile, there were 20 billionaires in their 90s, while the former chairman of Dole Foods David Murdoch was the only one who is 101 years and ranked 359th with a net worth of $3.7 billion.

Few billionaires collected at least $3.3 billion — the minimum required to be included on the Forbes 400 — at a young age. In all, 26 billionaires on the list are under 50, including Mark Zuckerberg, the third-richest person in the US and the fourth youngest.

Bill Gates's Ranking Declines

Bill Gates remains one of the country's richest people with a fortune of $107 billion, despite his significant fall this year, dropping to No. 9 on the Forbes 400, his lowest in nearly 25 years.

The Microsoft co-founder maintained the top spot for nearly two decades since 1990, but his drop in ranking was due to his charitable giving and the divorce settlement Melinda French Gates received after their separation in 2021.

Gates is not upset about his decline among the wealthy, but on the contrary, he is achieving his goal, as he stated in a discussion that took place in September 2022 that he plans to continue donating more of his wealth and continue to do so until he is removed from the Forbes list of billionaires.

Top 10 Richest Persons in US 

Source: Forbes