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Elon Musk attends The 2022 Met Gala Celebrating "In America: An Anthology of Fashion" at The Metropolitan Museum of Art on May 2, 2022 in New York City
(Photo: Dimitrios Kambouris/Getty Images for The Met Museum/Vogue)
The Super Rich Are Getting Richer
Despite a decline in the total number of U.S. billionaires, the total wealth of the exclusive nine-figure-club grew by $500 billion over the last five months.
Sep 18, 2024
There are now 801 billionaires based in the United States with a combined wealth totaling $6.22 trillion, according to an Institute for Policy Studies analysis of the Forbes Real Time Billionaire List.
The total number of billionaires is down 11 people as of September 13, 2024 from April when Forbes published their 38th annual World’s Billionaire List. Despite that decline in the number of billionaires, the total wealth of the exclusive nine-figure-club grew by $500 billion over the last five months.
The top five billionaires and by individual wealth are:
- Elon Musk of Tesla/X and SpaceX with $252.5 billion
- Jeff Bezos of Amazon with $204.8 billion
- Larry Ellison of Oracle fame moving into number three spot with $197 billion, surpassing Marc Zuckerberg
- Mark Zuckerberg of Meta with $182 billion
- Warren Buffett of Berkshire Hathaway with $141 billion
There are now a total of 12 billionaires with more than $100 billion each. For context, the first person to cross the $100 billion personal wealth threshold—Jeff Bezos—only did so in 2018.
When Forbes started tracking wealth in 1982 there were only 13 billionaires on the Forbes 400 list and it took $75 million to join the list. Today, a person needs have a minimum of $3.2 billion to make the cut.
Among the wealthiest families on the Forbes list:
- Walton: Six members of the Walton Family have a combined wealth of $349.3 billion
- Mars: Six members of Mars family have combined wealth of $142.7 billion
- Koch: Two members of Koch family have a combined wealth of $141.6 billion
Many top billionaires have seen their wealth surge since the onset of the Covid-19 pandemic.
On March 18, 2020, Elon Musk had wealth valued just under $25 billion. By the start of the next year he became the richest person in the world with a net worth of $185 billion.
After a decline of his assets from the acquisition of Twitter (now X) and falling Tesla valuations, Musk’s wealth has almost reached its 2022 peak with $252 billion.
Jeff Bezos saw his wealth rise from $113 billion on March 18, 2020 to $204 billion in the September 13, 2024 survey.
Three Walton family members—Jim, Alice, and Rob—saw their combined assets increase from $161.1 billion on March 18, 2020 to $286 billion this September.
We are at a crossroads
This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 License.
Chuck Collins
Chuck Collins is co-founder of CARP and author of Burned by Billionaires: How Concentrated Wealth and Power are Ruining Our Lives and Planet.
elon muskforbesinequalityjeff bezosmark zuckerbergunited stateswalton familywarren buffettbillionaires
There are now 801 billionaires based in the United States with a combined wealth totaling $6.22 trillion, according to an Institute for Policy Studies analysis of the Forbes Real Time Billionaire List.
The total number of billionaires is down 11 people as of September 13, 2024 from April when Forbes published their 38th annual World’s Billionaire List. Despite that decline in the number of billionaires, the total wealth of the exclusive nine-figure-club grew by $500 billion over the last five months.
The top five billionaires and by individual wealth are:
- Elon Musk of Tesla/X and SpaceX with $252.5 billion
- Jeff Bezos of Amazon with $204.8 billion
- Larry Ellison of Oracle fame moving into number three spot with $197 billion, surpassing Marc Zuckerberg
- Mark Zuckerberg of Meta with $182 billion
- Warren Buffett of Berkshire Hathaway with $141 billion
There are now a total of 12 billionaires with more than $100 billion each. For context, the first person to cross the $100 billion personal wealth threshold—Jeff Bezos—only did so in 2018.
When Forbes started tracking wealth in 1982 there were only 13 billionaires on the Forbes 400 list and it took $75 million to join the list. Today, a person needs have a minimum of $3.2 billion to make the cut.
Among the wealthiest families on the Forbes list:
- Walton: Six members of the Walton Family have a combined wealth of $349.3 billion
- Mars: Six members of Mars family have combined wealth of $142.7 billion
- Koch: Two members of Koch family have a combined wealth of $141.6 billion
Many top billionaires have seen their wealth surge since the onset of the Covid-19 pandemic.
On March 18, 2020, Elon Musk had wealth valued just under $25 billion. By the start of the next year he became the richest person in the world with a net worth of $185 billion.
After a decline of his assets from the acquisition of Twitter (now X) and falling Tesla valuations, Musk’s wealth has almost reached its 2022 peak with $252 billion.
Jeff Bezos saw his wealth rise from $113 billion on March 18, 2020 to $204 billion in the September 13, 2024 survey.
Three Walton family members—Jim, Alice, and Rob—saw their combined assets increase from $161.1 billion on March 18, 2020 to $286 billion this September.
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- Just Two Weeks of Food Billionaire Wealth Gains Could Fund Anti-Hunger Effort in East Africa ›
- Wealth of US Billionaires Hits $5.5 Trillion—Up 88% Since Pandemic Hit ›
- On the Billionaires Who Would Hunt and Kill Humans for Sport ›
- Forbes Billionaires List Shows 'Utterly Unconscionable' Wealth Growth of World's Richest ›
- Opinion | The Rich in the US Are Getting Even Richer—and That's Bad News for Our Democracy | Common Dreams ›
Chuck Collins
Chuck Collins is co-founder of CARP and author of Burned by Billionaires: How Concentrated Wealth and Power are Ruining Our Lives and Planet.
There are now 801 billionaires based in the United States with a combined wealth totaling $6.22 trillion, according to an Institute for Policy Studies analysis of the Forbes Real Time Billionaire List.
The total number of billionaires is down 11 people as of September 13, 2024 from April when Forbes published their 38th annual World’s Billionaire List. Despite that decline in the number of billionaires, the total wealth of the exclusive nine-figure-club grew by $500 billion over the last five months.
The top five billionaires and by individual wealth are:
- Elon Musk of Tesla/X and SpaceX with $252.5 billion
- Jeff Bezos of Amazon with $204.8 billion
- Larry Ellison of Oracle fame moving into number three spot with $197 billion, surpassing Marc Zuckerberg
- Mark Zuckerberg of Meta with $182 billion
- Warren Buffett of Berkshire Hathaway with $141 billion
There are now a total of 12 billionaires with more than $100 billion each. For context, the first person to cross the $100 billion personal wealth threshold—Jeff Bezos—only did so in 2018.
When Forbes started tracking wealth in 1982 there were only 13 billionaires on the Forbes 400 list and it took $75 million to join the list. Today, a person needs have a minimum of $3.2 billion to make the cut.
Among the wealthiest families on the Forbes list:
- Walton: Six members of the Walton Family have a combined wealth of $349.3 billion
- Mars: Six members of Mars family have combined wealth of $142.7 billion
- Koch: Two members of Koch family have a combined wealth of $141.6 billion
Many top billionaires have seen their wealth surge since the onset of the Covid-19 pandemic.
On March 18, 2020, Elon Musk had wealth valued just under $25 billion. By the start of the next year he became the richest person in the world with a net worth of $185 billion.
After a decline of his assets from the acquisition of Twitter (now X) and falling Tesla valuations, Musk’s wealth has almost reached its 2022 peak with $252 billion.
Jeff Bezos saw his wealth rise from $113 billion on March 18, 2020 to $204 billion in the September 13, 2024 survey.
Three Walton family members—Jim, Alice, and Rob—saw their combined assets increase from $161.1 billion on March 18, 2020 to $286 billion this September.
From Your Site Articles
- Billionaire Grandson of Gilded Age Plutocrat Gives Trump Super PAC $50 Million ›
- Just Two Weeks of Food Billionaire Wealth Gains Could Fund Anti-Hunger Effort in East Africa ›
- Wealth of US Billionaires Hits $5.5 Trillion—Up 88% Since Pandemic Hit ›
- On the Billionaires Who Would Hunt and Kill Humans for Sport ›
- Forbes Billionaires List Shows 'Utterly Unconscionable' Wealth Growth of World's Richest ›
- Opinion | The Rich in the US Are Getting Even Richer—and That's Bad News for Our Democracy | Common Dreams ›
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