Forbes 400
| Company type | Annual ranking |
|---|---|
| Industry | Publishing, Media |
| Founded | 1982 |
| Founder | Malcolm Forbes |
Area served | United States |
| Products | List of the 400 wealthiest individuals in the United States |
| Website | www |
The Forbes 400, also referred to as the 400 Richest Americans, is an annual ranking published by Forbes magazine that lists the 400 wealthiest individuals in the United States based on their net worth. Established in 1982 by Malcolm Forbes, the list spotlights those holding substantial assets within the U.S.[1] According to Peter W. Bernstein and Annalyn Swan, this compilation illustrates a transition from dominance by corporate elites to entrepreneurial wealth, mirroring evolving American social attitudes toward wealth accumulation.[2]
Beginning in 2014, Forbes introduced a "self-made score" to assess the extent to which each individual's fortune was generated independently.[3]
Criteria
Annually, the Forbes 400 identifies the richest individuals across the United States, providing insight into economic patterns and shifts in leadership. Each entry details factors such as personal background, affiliated companies, age, sector of activity, and educational history, thereby reflecting trends in wealth distribution and charitable giving.
Initial edition (1982)
The first edition of the Forbes 400 appeared in 1982, featuring just thirteen billionaires with a minimum net worth threshold of $75 million for inclusion. This group accounted for approximately 2.8% of the U.S. Gross Domestic Product, with dominance from oil interests (22.8%), manufacturing (15.3%), financial services (9%), and technology (3%). Geographically, New York was home to the largest number of members at seventy-seven, followed by California with forty-eight.
Year 2000
In the year 2000, buoyed by the internet surge, the collective wealth of those on the Forbes 400 peaked at representing 12.2% of the nation's GDP.
Year 2021
By 2021, entry onto the Forbes 400 required a minimum net worth of $2.9 billion. Jeff Bezos led this roster with a fortune exceeding $200 billion. The aggregate wealth among all members reached $4.5 trillion. Since its inception in 1982, the qualifying net worth has escalated over thirty-eight times (3866%), significantly outpacing inflation growth which increased less than threefold during that timeframe.
Disputes
In April 2018, former Forbes journalist Jonathan Greenberg accused Donald Trump of exaggerating his wealth to secure a spot on the list. Greenberg released audio from a conversation dating back to 1984 involving "John Barron," an alias used by Trump, initially valuing Trump's net worth at $500 million before it was revised down to $100 million; Trump later acknowledged that this pseudonym was fictitious.
Self-made score
Each individual on the list is evaluated by Forbes using a self-made rating scale ranging from one to ten—where one denotes inherited wealth without active involvement and ten signifies overcoming substantial adversity from poverty to amass wealth independently. In the 2022 edition, more than two-thirds scored six or above, thereby classified as "self-made." This metric contributes to ongoing discussions about inherited wealth and economic mobility, though its interpretation has faced criticism. The Institute for Policy Studies contended in 2012 that over sixty percent of America's richest were raised with privileges extending beyond inheritance such as elite schooling. Contrarily, research from the University of Chicago Booth School of Business supports Forbes’' perspective, noting an increase in entrepreneurial representation on the list from forty percent in 1982 to sixty-nine percent in 2014.
Demographics
Analyses utilizing data from the Forbes 400 have explored hypotheses like the Trivers–Willard hypothesis, which suggests parents with high socioeconomic status tend to have more male children. A study conducted in 2009 found evidence supporting this among U.S. billionaires; however, a subsequent investigation in 2013 clarified that this trend primarily applies to heirs rather than self-made billionaires due to differences in timing related to wealth acquisition. Additionally, earlier findings overstated male dominance due to sample selection biases.
A demographic report by Business Insider in 2010 identified three openly gay individuals, four Asian Indians, six other Asians, and thirty-four women within the list. American Jews represented up to thirty percent of the top hundred richest and numbered one hundred thirty-nine among all Forbes 400 members in 2009. In contrast, only two African Americans—media mogul Oprah Winfrey and investor Robert Smith—were included in 2017 alongside just five people of Latino descent.
See also
- 40 Under 40 (Fortune magazine)
- Sunday Times Rich List
- List of Americans by net worth
- List of richest Americans in history
External links
- ↑ Kroll, Luisa (October 2010). "The Forbes 400". Forbes. p. 17. Print. Accessed 14 January 2021.
- ↑ Bernstein, Peter W., and Annalyn Swan, eds. All the Money in the World: How the Forbes 400 Make – and Spend – Their Fortunes. New York: Alfred A. Knopf, 2007. ISBN 9780307278760. p. 4. Print. Accessed 14 January 2021.
- ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).