The nation's richest people saw their wealth increase despite a worldwide pandemic, with Alice Walton retaining her place as richest woman in the U.S. and ranking 10th on the Forbes 400 List of Richest Americans released Tuesday.
Amazon chief executive and founder Jeff Bezos held on to the richest American title for a third year running with his wealth pegged at $179 billion, up nearly 60% when compared with last year.
According to the magazine, the total wealth of those on the list stood at a record $3.2 trillion, up 8% when compared with last year. The minimum wealth to make the list this year stood at $2.1 billion, with 233 American billionaires failing to reach that threshold.
President Donald Trumps ranking dropped to No. 352 from No. 275 last year with a net worth of $2.5 billion, down from $3.1 billion, as the value of his property holdings lost ground during the coronavirus outbreak, according to Forbes.
In a news release, Kerry Dolan, assistant managing editor wealth at Forbes said much of the wealth on the list is highly focused with the top 21 people on the list accounting for 42% of its total wealth.
Microsoft's Bill Gates ranked No. 2 on the list with $111 billion; Facebook's Mark Zuckerberg was No. 3 with $85 billion; Warren Buffet, chairman of Berkshire Hathaway ranked No. 4 with $73.5 billion; and former Oracle chief executive Larry Ellison rounded out the top five with $$72 billion.
Twenty-five people dropped of the list this year, with 10 of those linked to pandemic setbacks, according to the magazine. There were 18 newcomers on the list.
This is the third year Forbes has included a philanthropy ranking. This year the magazine tallied the value of grants made by foundations to nonprofits and charitable organizations to determine its rankings.
The three children of Walmart's founder saw their individual wealth increase though they shuffled some in the list rankings. Walmart shares have gained ground during the pandemic and over the past year have traded as low as $102 a share in March and as high as $151.33.
Alice Walton of Fort Worth, Sam Walton's only daughter and the founder of the Crystal Bridges Museum of American Art in Bentonville, was the richest woman on the list and ranked No. 10, with wealth valued at $62.3 billion She earned a philanthropy score of 2. A score of 2 indicates giving valued at between 1% and 4.99% of the giver's net worth.
Jim Walton of Bentonville, chairman and CEO of Arvest Bank Group and a son of Sam Walton, ranked wealth valued at $62.1 billion. S. Robson "Rob" Walton of Bentonville, the oldest son in the family, ranked No. 12 with a his net worth pegged at $61.8 billion. Both Waltons received a philanthropy score of 1, indicating giving was valued at less than 1% of the giver's net worth.
Johnelle Hunt, widow of J.B. Hunt Transport Services founder J.B. Hunt, of Fayetteville ranked No. 249 with wealth of $3.3 billion while Warren Stephens' of Little Rock ranked No. 327 on the list with wealth placed at $2.6 billion. Both saw their wealth increase over the year.
Lukas Walton of Wyoming, son of Christy and the late John Walton, ranked No. 31 with wealth valued at $15.4 billion. Christy Walton of Wyoming, widow of John Walton ranked No. 74 with wealth of $7.2 billion.
Ann Walton Kroenke of Columbia, Mo., ranked No. 58 with wealth valued at $8.4 billion. She is the daughter of Sam Walton's brother, James "Bud" Walton. Her husband Stan Kroenke, who owns the Los Angeles Rams, ranked No. 59 with $8.3 billion. Nancy Walton Laurie of Henderson, Nev., another daughter of Bud Walton, ranked 69 with $7.5 billion.
Jerry Jones, owner of the Dallas Cowboys and a member of the 1964 national championship football team for the Arkansas Razorbacks, ranked No. 56 with $8.6 billion.
This is the 39th year for the list. The Forbes rankings are based on the billionaires' wealth as of July 24, when the placements on the list and net worth of those listed are finalized. The magazine looks at a variety of assets, including holdings in public and private companies, real estate, art, yachts and car collections. It also factors in debt.