Forbes has published its list of The Richest Person In Every State for 2024, revealing that 47 states have at least one resident in the ten-figure club. The 54 people on the list, some tied for the top spot in their state, have a combined net worth of $1.6 trillion, an increase of $100 billion from last year.
Notably, Louisiana has a new billionaire at its helm. Todd Graves, the founder and CEO of the fried chicken fast-food chain Raising Cane’s, now holds the title of the state’s richest person with an estimated net worth of $9.1 billion. He unseats Gayle Benson, the owner of the NFL New Orleans Saints and the NBA New Orleans Pelicans.
The richest individuals in several states have changed over the past year due to the relocation of some of the wealthiest Americans. Jeff Bezos’ move out of Washington state has allowed Bill Gates to emerge as the richest resident there, while Mark Zuckerberg has claimed the top spot in California following a substantial increase in his fortune. Shares of Meta nearly tripled in value over the past year, driven by mass layoffs and ongoing investments in AI and the metaverse, according to Forbes.
In Hawaii, despite property ownership by Bezos, Larry Ellison, and Zuckerberg, Ebay founder Pierre Omidyar remains the richest resident. Similarly, Steve Cohen, founder of the hedge fund firm Point72 Asset Management, has replaced Ray Dalio as the wealthiest individual in Connecticut. Alaska, Delaware, and West Virginia remain the only states without a billionaire.
Also, read; Meek Mill Reacts to Nigerian First Lady Remi Tinubu’s Comment on Ladies Imitating American Celebrities
Despite a recent surge of black billionaires, no African-American emerged as the richest individual in any state highlighted by Forbes. As of 2024, there are 10 black billionaires in America, and three of them made Forbes’ “The Forbes 400 list” of the richest Americans: Robert F. Smith, David Steward, and Michael Jordan.
Robert F. Smith, ranked number 8, is the wealthiest Black person in America with an estimated net worth of $9.2 billion. Smith founded Vista Equity Partners in 2000, a private equity firm focusing exclusively on investing in software companies. The Denver native and philanthropist gained widespread attention in 2019 when he paid off the student debts of Morehouse College’s graduating class.
David Steward, with a net worth of $7.6 billion, occupied the 121st position on the list. The self-made billionaire, who started from a humble background, worked his way up to achieve significant success.
Michael Jordan ranked 379 on the list with an estimated net worth of $3 billion. Jordan joined The Forbes 400 following the sale of his stake in the Charlotte Hornets.
While the list underscores the growing number of black billionaires, it also highlights the ongoing challenges in achieving broader representation at the very top levels of wealth in the United States.
