Forbes 400 Richest Americans 2023: Four billionaires of Indian origin on the list
Elon Musk tops the list with a net worth of $251 billion; the richest people in America now hold $4.5 trillion in wealth. Here's a look at the newcomers, drop-offs, self-made women, and people of Indian origin who've made the cut — Jay Chaudhry, Vinod Khosla, Romesh T Wadhwani and Rajiv Jain
(Top) (From L to R): Rajiv Jain, founder, GQG Partners; Romesh T Wadhwani, chairman, Symphony AI. (Bottom) (From L to R): Vinod Khosla, founder, Khosla Ventures; Jay Chaudhry, CEO, Zscaler. Image (Vinod Khosla): Kim Kulish/Corbis via Getty Images
The wealthiest individuals in the US have seen their wealth increase by $500 billion compared to a year ago, according to Forbes, due to a resurgence in the stock markets and a surge in the AI (artificial intelligence)-driven technology sector. Their collective wealth stands at $4.5 trillion, matching the previous record set in 2021. The minimum wealth required to join the elite club has risen to $2.9 billion, up from $2.7 billion last year, reaching an all-time high.
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Elon Musk retains the top spot on the Forbes 400 Richest Americans list with an estimated net worth of $251 billion, the same as the previous year, despite a tumultuous year that included his costly acquisition of Twitter and a decline in Tesla's stock value. Musk's wealth surpasses that of Jeff Bezos, who is in second place by $90 billion, and Larry Ellison who’s ranked third by $93 billion.
There are 18 newcomers on the list. The most notable among them is basketball legend Michael Jordan with an estimated net worth of $3 billion, making him the first professional athlete to make it to the Forbes 400 list. The richest new member this year is Elisabeth DeLuca, with an estimated net worth of $8.2 billion, who inherited a 50 percent stake in Subway in August.
Among those who dropped off the list are Donald Trump, whose social media platform and commercial real estate holdings are struggling; Evan Spiegel and Bobby Murphy, who have witnessed a decline in the value of their Snap Inc stock; and Sam Bankman-Fried and Gary Wang, who are facing federal fraud charges following the collapse of their cryptocurrency empire last autumn.
The youngest member of the Forbes 400 is Lukas Walton, the 37-year-old grandson of Walmart co-founder Sam Walton, while the oldest is David Murdock, the billionaire behind Dole Food Products, who is 100 years old.
