In an unprecedented turn of events, a slew of prominent American billionaires have fallen short of securing a spot on the highly coveted Forbes 400 List for 2024. This year’s cutoff stands at a staggering $3.3 billion, with the list featuring only 400 individuals who meet this new benchmark—a jump of $400 million from the previous year. Notable names left out include Magic Johnson, Arnold Schwarzenegger, Taylor Swift, and Kim Kardashian, all of whom boast net worths that fall below the threshold. The number of billionaires not on the list now totals 415, exceeding those who made the cut for the first time in history.
Among those sitting on the sidelines are tech leaders like Sam Altman, CEO of OpenAI, and Palmer Luckey, cofounder of Oculus VR. Both have assets estimated at $1 billion or more but not enough to join the elite ranks of the Forbes 400. Meanwhile, shifts in wealth and market values have left many former billionaires reevaluating their standings, with executives like Jayshree Ullal, enjoying newfound fortune, making the list after missing out the previous year. This shakeup illustrates the tightening grip of wealth at the pinnacle of American society, as even famed billionaires scramble to keep up, reflecting a competitive financial landscape. For further details, check out the full coverage auf www.forbes.com.au.
