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.
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 in Palm Beach. Their other brother, businessman Bill Koch, has a house here but isn’t on the latest Forbes list.
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 on the 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.
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The Palm Beach Billionaires On The Forbes 400 List Have Seen Their Money Grow Since Last Year