Forbes has released its 2020 definitive ranking of the wealthiest Americans over the past decade.
The aggregate wealth of the list is $3.2 trillion, up 8% from a year ago and a record in the four decades Forbes has tracked the richest Americans’ fortunes. A record 233 U.S billionaires did not make the cut this year, falling short of the $2.1 billion minimum needed to make the list.
Jeff Bezos, CEO and founder of Amazon remains in the top spot on the 2020 Forbes 400 list for the third consecutive year. Bezos’ fortune of $179 billion, as of July 24, 2020, is up 57% from last year. He also also reached a record-breaking $200 billion, becoming the first person in history to cross this milestone.
There were 25 drop-offs who made the 2019 list but fell off this year’s ranking; ten of those were due in part to setbacks related to the Covid-19 outbreak. There are 18 newcomers on this year’s list including: Eric Yuan, CEO of Zoom Video Communications, with a net worth of $11 billion; Jim Koch, cofounder and chairman of the Boston Beer Company, producer of Samuel Adams Beer, with a net worth of $2.6 billion; and at age 38 the youngest newcomer, Trevor Milton, founder of electric and hydrogen-electric truck maker Nikola.
Donald Trump’s ranking dropped to No. 352 from 275 in 2019, and his net worth dropped to $2.5 billion from last year’s $3.1 billion, as the value of office buildings, hotels and resorts have taken a hit amid the pandemic.
The Forbes 400 magazine issue also features five consecutive covers, including: Netflix co-CEO Reed Hastings, Asana CEO Dustin Moskovitz, entertainment mogul Tyler Perry, biotech billionaire Patrick Soon-Shiong and impact investor Amy Novogratz.