Microsoft co-founder Bill Gates stayed on top of the Forbes list of 400 richest Americans for the 22nd time in a row, while three of four Walton family members were elbowed out of the top 10 this year.
The magazine reported technology stocks changed the landscape of the list's richest this year, with Amazon CEO Jeff Bezos and Facebook co-founder Mark Zuckerberg both pushing into the rank's top 10 for the first time. Many members of the Walton family, with their wealth tied to the value of Wal-Mart Stores Inc. stock, saw their wealth decline and their rankings drop as the shares lost value compared to last year.
Jim Walton of Bentonville, chairman and CEO of Arvest Bank Group and a son of Wal-Mart founder Sam Walton, moved down two places to No. 9. Alice Walton of Fort Worth, S. Robson "Rob" Walton of Bentonville and Christy Walton of Jackson, Wyo., whom all were in the top 10 last year, ranked 12th, 13th and 14th respectively on Forbes' latest list.
Warren Stephens, CEO of Little Rock-based investment bank Stephens Inc., and entrepreneur and developer Johnelle Hunt -- widow of trucking mogul J.B. Hunt, who founded Lowell-based Transport Services Inc. -- stayed on the list this year but lost ground.
Stephens ranked No. 268, with a net worth of $2.5 billion, down from No. 190 on the 2014 list with $3 billion. Hunt ranked No. 307 with a net worth of $2.2 billion, down from No. 284 but with her net worth unchanged.
The wealth required to make the Forbes 400 was $1.7 billion, the highest since the magazine began tallying the country's richest people 34 years ago. Last year's cutoff was $1.55 billion. With the requirements so high, 145 of the nation's billionaires didn't make the list.
The 400 richest Americans are worth $2.34 trillion, up $50 billion from last year, according to Forbes. The average worth of those making the list stood at $5.8 billion, up $100 million from last year and a new record.
Gates' net worth of $76 billion was a decline from $81 billion in 2014. Warren Buffett, chairman of multinational conglomerate Berkshire Hathaway, stayed in second place with a net worth of $62 billion, down from $67 billion last year. Larry Ellison, founder and CEO of Oracle Corp., held his ground at No. 3 with $47.5 billion, down from $50 billion in 2014.
Bezos ranked No. 4 at $47 billion and saw his wealth increase $16.5 billion, the biggest gain on the list. He ranked 15th last year. Zuckerberg ranked No. 7 with a net worth of $40.3 billion, up from $34 billion. He ranked 11th on last year's list.
Jerry Jones, owner of the Dallas Cowboys and a member of the 1964 national championship football team for the Arkansas Razorbacks, ranked No. 94 with $5 billion, up from No. 117 last year. The Dallas Cowboys are worth $4 billion, up 25 percent from last year. The Cowboys are the most valuable sports team in the world, according to Forbes.
Jim Walton stayed in the top 10 this year with total wealth valued at $33.7 billion, down from $36 billion last year. Wal-Mart shares were trading above $90 a share in January but have declined steadily with shares trading in the $64 range in September.
Alice Walton, Sam Walton's only daughter and the founder of Crystal Bridges Museum of American Art in Bentonville, is the richest woman on the Forbes 400 with a net worth of $32 billion. She ranks No. 12 on the list, down from No. 9 last year with $34.9 billion.
S. Robson "Rob" Walton, the oldest son in the family who stepped down as Wal-Mart's chairman in June, ranked 13th with $31.7 billion, down from 10th last year, with $34.8 billion.
Christy Walton ranked No. 14 with total wealth valued at $30.2 billion, dropping from the No. 6 spot with $38 billion last year and losing the title of the richest woman on the list. She is the widow of John Walton, Sam Walton's son who died in an ultralight aircraft crash in 2005. Forbes noted she owns about an 11 percent stake in Wal-Mart, lower than previous estimates.
There are 25 rookies on this year's list, including Evan Spiegel, co-founder of messaging company Snapchat. He ranked 327th and is the youngest person on the list; at age 25, he also is the youngest billionaire in the world. About half of those on the list this year are worth more now than they were last year, while 119 have a net worth this year that is less than last year, according to the magazine.
Ann Walton Kroenke of Columbia, Mo., daughter of Wal-Mart co-founder James "Bud" Walton, Sam's brother, dropped to No. 121 with $4.5 billion, down from No. 96, with $5 billion in 2014. Stan Kroenke, her husband and owner of the St. Louis Rams, was ranked 63rd with $7.6 billion, up from No. 89, with $5.7 billion last year.
Nancy Walton Laurie of Henderson, Nev., another daughter of Bud Walton, ranked No. 138 with $4 billion, down from 117th with $4.2 billion in 2014.
The Forbes rankings are based on members' wealth Sept. 11, when the placements on the list and net worth of those listed are finalized. The magazine looks at a wide variety of assets, including holdings in public and private companies, real estate, art, yachts and car collections, and also figures in debt.
Business on 10/01/2015