FORBES FORTUNES Many island billionaires on list get richer; Trump’s worth the same.
It’s been a good year for most of the Palm Beach billionaires on the latest Forbes 400 list, thanks largely to a go-go — and go again — stock market.
Of 30 billionaires on the list identified by the Palm Beach Daily News as having strong ties to the island, just six saw their estimated net worth drop since the last ranking of the nation’s 400 wealthiest people was published a year ago.
And just three saw their fortunes stay the same, including the island’s most famous snowbird, President Donald Trump with his $3.1 billion fortune.
Trump’s ranking on the list, however, dropped over the past year, from 248th place last year to 259th place this year.
That drop is an indication of the boosted wealth that flooded the wallets and handbags of those nearer the top of the list, which was released Wednesday.
Once again, industrialist David Koch led the list of Palm Beach billionaires with an estimated fortune of $53.5 billion. He is tied in seventh place with his brother, Charles Koch, with whom he runs Koch Industries.
Charles Koch doesn’t have a home on the island. Their other brother, businessman Bill Koch, has a house here but isn’t on the latest Forbes list.
Those on the Daily News’ list either own property or frequently lease a residence here.
In all, their total net worth reported by Forbes equals about $221 billion.
Amazon.com founder and CEO
Jeff Bezos for the first time topped the overall list with a net worth of $160 billion, bumping Microsoft founder Bill Gates — with $97 billion — down one spot. Gates, who owns property in Wellington, had led the list for 24 years. Bezos owns no property in Palm Beach.
To earn a spot among Forbes 400, a billionaire’s estimated net worth had to total at least $2.1 billion.
That’s $100 million more than last year’s entry threshold.
“The group’s total net
The wealth of real estate investorJeff Greene, a former Democratic gubernatorial candidate, declined over the past year.
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. He is pictured here with his wife, Andrea Hisson.