It’s no longer enough to be a billionaire. Not even $2 billion will do. These days it takes a record-tying net worth of at least $2.9 billion to earn a spot among The Forbes 400 ranking of the nation’s wealthiest people, up from $2.7 billion last year. There are more than 350 billionaires in the U.S. who aren’t rich enough to make the grade.
That includes several famous faces. Oprah Winfrey ($2.8 billion) narrowly missed the cut for the third time in a row after having made the ranks for 25-years straight. Celebrities Jay-Z ($2.5 billion) and Kim Kardashian ($1.7 billion), the wealthiest member of her family, still don’t have enough to crack the top 400. Neither do designer Tom Ford ($2.2 billion), Tiger Woods ($1 billion) or LeBron James ($1 billion).
You also won’t find Apple CEO Tim Cook ($1.8 billion), former Facebook COO Sheryl Sandberg ($1.8 billion), CNN founder Ted Turner ($2.5 billion) or Donald Trump ($2.6 billion).
Some of these moguls might matriculate onto The Forbes 400 soon, though. Of the 11 people Forbes highlighted last year as just missing the cut and potential future listees, four ended up making it in 2023: basketball great Michael Jordan ($3 billion); James and Thomas Duff ($3 billion each), the Mississippi brothers behind Southern Tire Mart; and pipeline billionaire Ray Davis ($2.9 billion). For everyone else—well, there’s always next year.
Read the full story on Forbes: https://www.forbes.com/sites/gigizamora/2023/10/03/jay-z-tim-cook-kim-kardashian-the-american-billionaires-too-poor-to-make-the-2023-forbes-400-list/?sh=df1b40b5d34b
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