Forbes US Top 400 Richest: Musk Reclaims Throne, Huang Renguo Enters Top Twenty

Source of cover image: Forbes, ILLUSTRATION BY JOE MORSE

Forbes has released the Forbes 400 list of the wealthiest people in the United States, with Tesla founder Musk once again topping the list. Last year, the 400 richest people in the U.S. collectively lost $500 billion, but have now all earned it back. Currently, the total assets of this elite group are valued at $4.5 trillion, matching the record set in 2021. Entry into the Forbes 400 now requires $2.9 billion, higher than the previous year's $2.7 billion, and also tying the all-time high record. Half of this increase comes from the rebound of tech stocks, with the wealth of eight tech giants increasing by over $100 billion.

Elon Musk Tops the List Again

Elon Musk has once again claimed the top spot for the second consecutive year with an estimated net worth of $251 billion. Despite his premium acquisition of Twitter, now rebranded as "X," and the watch as Tesla's stock price plummeted, coupled with his challenge against Facebook's Zuckerberg, Musk has fully showcased his eccentric and controversial personality.

However, with Tesla's stock price bouncing back strongly, his wealth has increased by hundreds of billions. Musk's fortune surpasses the second-ranked Jeff Bezos by $90 billion and the third-ranked Larry Ellison by $93 billion. Zuckerberg, his combatant, on the other hand, ranks eighth with a net worth of $106 billion.

AI Craze Propels Jensen Huang into the Top Twenty for the First Time

Thanks to this year's AI craze, Jensen Huang, the co-founder and CEO of Nvidia, climbed 31 spots to break into the top 20 for the first time, ranking 17th with a net worth of $40.7 billion. The company produces more chips for artificial intelligence systems than any other company, and since last year, its stock price has surged over 200%, with a market value exceeding $1 trillion.

Michael Jordan Becomes the First Professional Athlete to Enter the Top 400

Michael Jordan is the first professional athlete to break into the top 400, thanks to the nine-figure licensing fees provided by Nike each year and the agreement to sell the majority stake in the NBA's Charlotte Hornets in August. Jordan's net worth is estimated at $3 billion, making him the first professional athlete to enter the top 400.

Trump Falls Short Again, FTX Founders SBF and Gary Wang Drop Off the List

Former U.S. President Donald Trump's wealth is estimated at $2.6 billion, falling $300 million short of the threshold to make it to the top 400 wealthiest individuals list.

His net assets have decreased by over $600 million compared to a year ago. The main reason for this decline is his social media venture, Truth Social. Trump envisioned a large portion of the country logging into the platform, but that never materialized. To date, about 6.5 million people have registered on Truth Social, accounting for about 1% of the registered users on X. Trump holds 90% of the shares of the parent company of Truth Social, which has plummeted in value from an estimated $730 million to less than $100 million.

Trump's self-created social platform "TRUTH Social" teases return to the community

Also dropping off the list are FTX founders SBF and Gary Wang, whose net worths were $17.2 billion and $4.6 billion, respectively, in last year's rankings.