Forbes 400: The rich continue to get richer

It’s a great time to be filthy rich in the USA.

Forbes has released its rankings of the richest 400 Americans and there is little change near the top of the list. Here is a quick summary of the top ten, including rank, name, and total net worth:

1. Bill Gates, $66 Billion
2. Warren Buffet, $46 Billion
3. Larry Ellison, $41 Billion
4. Charles Koch, $31 Billion
5. David Koch, $31 Billion
6. Christy Walton, $27.9 Billion
7. Jim Walton, $26.8 Billion
8. Alice Walton, $26.3 Billion
9. S. Robson Walton, $26.1 Billion
10. Michael Bloomberg, $25 Billion

Statistically, the Forbes 400 rankings this year reveal changes that are mostly unsurprising and expected. The overall trend is upward, with the individuals on this list gaining wealth faster than those in the general population. The average wealth among the 400 increased $400 million from last year, to $4.2 billion, a new record, and the combined net worth of 400 on the list jumped to $1.7 trillion, a 13 percent increase from last year’s combined $1.5 trillion.

Bill Gates and Warren Buffet both witnessed an impressive $7 billion increase in net worth this year and held securely to their number one and number two rankings. The greatest gainer, in terms of dollars, was Larry Ellison who saw his personal fortune leap $8 billion, from $33 billion last year to $41 billion today.

Although most individuals on the list lavished in greater monetary returns, not everyone followed this trend. Mark Zuckerbeg, founder of Facebook, faced the painful reality of an IPO gone badly. Facebook stock has slumped and Zuckerberg’s wealth has followed suit, plummeting $8.1 billion from $17.5 billion last year to “only” $9.4 billion this year and pushing Zuckerberg out of the top thirty, down to a #36 ranking.

Speaking of Zuckerberg, he and fellow Facebook entrepreneur Dustin Moskovitz, #151 with $2.7 billion, are the youngest individuals on the Forbes 400 list. They are each only 28 years of age. The only other individual under 30 on the list is Scott Duncan, #72 with $4.7 billion in wealth, at age 29. On the other extreme, there is David Rockefeller Sr., #151 with $2.7 billion in wealth, who is only three years shy of his 100th birthday.

Here in the Houston area, we have 13 individuals who made the ranks of the richest 400. Here are their rankings, name, and total wealth:

#36, Richard Kinder, $9.4 Billion

#59, Jeffrey Hildebrand, $5.5 Billion

#72, Dannine Avara, $4.7 Billion

#72, Scott Duncan, $4.7 Billion

#72, Milane Franz, $4.7 Billion

#72, Randa Williams, $4.7 Billion

#132, John Arnold, $3 Billion

#239, George Mitchell, $2 Billion

#271, Robert McNair, $1.8 Billion

#285, Thomas Friedkin, $1.7 Billion

#298, Tillman Fertitta, $1.6 Billion

#311, Joe Jamail, $1.5 Billion

#388, Kenneth Adams, $1.15 Billion

Houston’s top 13 enjoyed increases in wealth about in- line with those of the others. Richard Kinder maintained his position as Houston’s richest and still has a comfortable net worth lead over Jeffrey Hildebrand. Not surprisingly, oil and pipelines are the main source of affluence for Houston’s richest and this fact is not likely to change anytime soon.

All in all, it has been a great year to be rich in America. The average family may be struggling to maintain wealth and status, but there appears to be no such problem among America’s richest 400, an elite group of individuals who continue to rack up capital gains personal wealth at a record pace.