worth rose to $2.9 trillion, a record high and 7 (percent) 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,” Kerry A. Dolan and Luisa Kroll wrote in their Forbes story about the list.
Island billionaires who saw their wealth decrease over the past year include investor Carl Icahn, media heiress Katharine Cox Rayner, media heiress Margaretta Cox Taylor, financier Charles Johnson, hedgefund manager Paul Tudor Jones II and real estate investor Jeff Greene. In addition to Trump, energy businessman Robert McNair and SlimFast founder S. Daniel Abraham saw their estimated net worth remain unchanged.
The Palm Beach list is absent four names that were on it a year ago.
The the late Conaire founder Leandro Rizzuto died in December, followed by the death of Discount Tire mogul Bruce Halle in January.
Casino and resort magnate Steve Wynn, who is tied on the overall list at No. 271 with an estimated fortune of $3 billion, no longer owns property on the island. In July, he sold for $20.27 million a nearly vacant lot he had owned for several years on the stretch of South Ocean Boulevard known as Billionaires Row.
In February, Wynn resigned as chairman and chief executive officer of Las Vegas-based Wynn Resorts amid allegations of sexual misconduct, including coercing some female employees into sexual activity, over many years. He has denied the allegations.
And private equity specialist Thomas Lee, a resident who was tied in 359th place with a $2.2 billion fortune on the 2017 list, barely missed making the cut this year. Forbes estimates his fortune at $2 billion, an online search this week showed.
And although the
Ziff brothers — Daniel, Dirk and Robert — don’t have residential ties to Palm Beach, they do own Gemini, a massive ocean-to-lake estate several miles to the south in Manalapan. The brothers are tied for 143rd place on the Forbes 400, each with an investments-based fortune of $4.8 billion.
The rankings reflect a “snapshot” of net worth as estimated Sept. 7, based on that day’s stock prices.
Forbes.com constantly updates the rankings in real time to reflect changes as the value of their stock holdings, investments and other assets change.
Industrialist David Koch led the list of Palm Beach billionaires with an estimated fortune of $53.5