America's 400 richest people are worth a record $3.2trillion, up by $240 billion from a year ago. It takes at least $2.1 billion—a figure unchanged for the past three years—to make the cut. Even in these trying times, mega-fortunes are still being minted. We welcome to the ranks 18 new members (and nine returnees) who made their pile in everything from electric trucks to the now-ubiquitous Zoom. Two from last year’s list died, and 25 dropped off as their fortunes fell; 10 of those setbacks were attributable to the Covid-19 crisis.
Aided by a stock market that has defied the pandemic, the very wealthiest Forbes 400 members are doing better than ever. The top 20 are worth a combined $1.3 trillion, up by 21 percent from a year ago, while the average Forbes 400 member’s wealth is up by 8 percent from last year. In all, these 21 ultra-rich individuals (there’s a tie at No 20) account for 42 percent of the total wealth of this year’s list. Facebook’s Mark Zuckerberg has finally bested Warren Buffett for the No 3 spot, while Elon Musk breaks into the top 20 for the first time. Forbes
calculated net worths using stock prices from July 24.Click here for the full list
(This story appears in the 06 November, 2020 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)