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* Forbes…
Buoyed in part by a strong stock market, the 400 wealthiest Americans delivered yet another record-breaking year. The minimum net worth needed to join this elite club climbed to $2.1 billion, $100 million more than last year and the highest to date. The group’s total net worth rose to $2.9 trillion, a record high and 7% more than in 2017. The average net worth of a list member: $7.2 billion, up from $6.7 billion last year. That average is boosted by those at the very top of the list: half of the total wealth is held by the 45 richest people in the country.
For the first time since 1994, there is a new No. 1: Amazon.com founder and CEO Jeff Bezos, who broke Bill Gates’ 24 year run at the top. Bezos is also the first person to appear in the ranks with a fortune of more than $100 billion –he clocked in at $160 billion. Bezos was also the biggest gainer on this year’s list: his fortune rose $78.5 billion since last year, thanks to the more than 100% runup in the price of Amazon stock, the biggest one year gain since we’ve been tracking fortunes. Gates, now ranked No. 2, trails Bezos by a notable $63 billion. The top 10 richest on the list are together worth nearly $730 billion, up from $610 billion in 2017. At these lofty heights, more than a third of the nation’s billionaires, a record 204, weren’t wealthy enough to crack the club.
* The Illinois list…
45 Ken Griffin $10B hedge funds
114 Sam Zell $5.6B real estate, private equity
172 Thomas Pritzker $4.2B hotels, investments
179 Neil Bluhm $4B 80 real estate
215 Joe Mansueto $3.6B investment research
223 Mark Walter $3.5B finance
251 J.B. Pritzker $3.2B hotels, investments
251 Jean (Gigi) Pritzker $3.2B hotels, investments
280 Patrick Ryan $2.9B insurance
302 Penny Pritzker $2.7B hotels, investments
316 Ty Warner $2.6B real estate, plush toys
328 Joseph Grendys $2.5B poultry processing
328 Eric Lefkofsky $2.5B Groupon
* Crain’s…
The billionaire no more is Rishi Shah, co-founder of Outcome Health, which puts TV screens airing health information in doctors’ offices. Shah made his debut on last year’s list, ranking 206 with a net worth of $3.6 billion. Since then, Outcome Health has fallen from grace. Last year, investors sued the firm, charging that it had inflated its financial results. The U.S. Justice Department also investigated. […]
Of the Illinois residents on the list, only J.B. Pritzker, Warner and Grendys dropped in the rankings.
Looks like JB’s campaign spending has eaten into that fortune of his. Forbes estimated his net worth at $3.4 billion last year, when he ranked 219th richest. Pritzker has given his campaign $146.5 million.
JB Pritzker rated a Forbes “self-made” score of 3. A score of 10 is the most self-made. He also received a 3 on Forbes’ philanthropy score. A score of 5 is the most philanthropic. So, he’s above average.
posted by Rich Miller
Wednesday, Oct 3, 18 @ 12:29 pm
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Geez, Ty Warner still has billions from that old, goofy toy fad?
I need a gimmick like that.
Comment by wordslinger Wednesday, Oct 3, 18 @ 12:40 pm
While those with big public holdings are easy to calculate I am skeptical of some of those with only private and real estate. The assets just don’t match the Income. Of course they may not be reporting…..
Comment by Not a Billionaire Wednesday, Oct 3, 18 @ 12:55 pm
The total for the 3 Pritzkers is $9.1B. Any other multi-family entries?
Comment by Langhorne Wednesday, Oct 3, 18 @ 12:58 pm
Once we get these 13 individuals (4 of whom are Pritzkers) paying their fair share Illinois financial problems will be solved.
I wonder how many of these billionaires only declared $15 million in income like JB did last year?
Comment by Lucky Pierre Wednesday, Oct 3, 18 @ 1:02 pm
===Looks like JB’s campaign spending has eaten into that fortune of his. Forbes estimated his net worth at $3.4 billion last year, when he ranked 219th richest. Pritzker has given his campaign $146.5 million.===
… still can’t find that $334K to pay the property taxes?
That’s fun.
Comment by Oswego Willy Wednesday, Oct 3, 18 @ 1:06 pm
–The total for the 3 Pritzkers is $9.1B. Any other multi-family entries?–
Yes. Might take ten seconds to look up the list and find who they are.
Comment by wordslinger Wednesday, Oct 3, 18 @ 1:12 pm
One multi family off hand is the Waltons between them all worth $169.7B or about 1 of Jeff Bezos.
Jim Walton $45.2B rank 11
Alice Walton $44.9B rank 12
S. Robson Walton $44.9B rank 12
Lukas Walton $15.3B rank 32
Christy Walton $7.2B rank 70
Ann Walton Kroenke $6.5B rank 83
Nancy Walton Laurie $5.7B rank 109
Comment by Yup! Wednesday, Oct 3, 18 @ 1:34 pm
a 3 for self-made is higher than I would have guessed. Maybe the scale is 3-10.
Comment by Pick a Name Wednesday, Oct 3, 18 @ 1:36 pm
===a 3 for self-made is higher than I would have guessed. Maybe the scale is 3-10.===
Diana Rauner and The Ounce might disagree with you, but you go with that.
“You know”
Comment by Oswego Willy Wednesday, Oct 3, 18 @ 1:37 pm
Guy is going to wind up dropping $300m+ on political endeavors over the next 5 years (including what has already been spent).
Comment by Dough Wednesday, Oct 3, 18 @ 1:44 pm
Why is Rauner off the list? It’s it’s because everything is in a blind trust while he’s governor?
I was feeling good because I just paid off my student loans at age 54. It’s probably a good thing to be reminded that I am still a peasant.
Comment by James Knell Wednesday, Oct 3, 18 @ 1:44 pm
==Geez, Ty Warner still has billions from that old, goofy toy fad?==
Ever notice those stuffed animals with giant eyes at all the checkout checkout counters? That’s Ty Warner. Beanies 2.0
Comment by City Zen Wednesday, Oct 3, 18 @ 2:23 pm
O.W.,
With respect, I believe you are confusing the self-made score with the philanthropic score. Also, how is 3 on the philanthropic score above average, not just average?
Comment by Blago's Hare Wednesday, Oct 3, 18 @ 3:13 pm
- Blago’s Hare -
I hear ya.
I was addressing this…
=== ===a 3 for self-made is higher than I would have guessed. Maybe the scale is 3-10.===
Diana Rauner and The Ounce might disagree with you, but you go with that.===
It was - Pick A Name - deciding to lower that 3 (out of 5) to another 3 (out of 10)
I kinda “called”, and bet Diana Rauner and The Ounce on it.
It’s all good. Glad you made this all clear.
Be well.
OW
Comment by Oswego Willy Wednesday, Oct 3, 18 @ 3:17 pm
They do Billionaires and 400 yearly.They families occasionally. There was one downstate family. Who was it?
Comment by Not a Billionaire Wednesday, Oct 3, 18 @ 5:55 pm