Palm Beach, Fla., residents certainly have plenty of opportunities to rub shoulders with wealth.
Last week, Forbes released its annual list of billionaires, which included 2,095 around the world.
Soon after the website published its list, the Palm Beach Daily News went through all the billionaires to find who had strong ties to Palm Beach.
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The 43 people who ended up on the Palm Beach Daily News’ list either live or own property in the area or lease residences “when in town,” the newspaper reported.
However, not everyone on the list had a good year with their wealth. Just like the rest of the world, many of the billionaires saw their wealth decrease in the last year -- specifically in recent months as the coronavirus has taken its toll on the economy.
According to the Palm Beach Daily News, 18 of the 43 billionaires had their wealth decrease from last year. However, 14 billionaires still saw their wealth increase and 11 saw their wealth stay the same, the newspaper reported.
Together, the top 10 richest billionaires who have ties to Palm Beach are worth about $140 billion, according to Forbes’ estimates.
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To see the top-ranking billionaires in the area, here are the 10 richest Palm Beach neighbors, according to Forbes and the Palm Beach Daily News.
10. Dan Gilbert
Quicken Loans cofounder Dan Gilbert, 58, reportedly joined the Palm Beach list this year after he bought two houses in Palm Beach, the newspaper reported. The houses together cost $43.25 million.
Gilbert, who owns the NBA’s Cleveland Cavaliers, was tied for 230th place on Forbes’ list and took tenth place on Palm Beach’s list. His wealth was down this year to $6.5 billion from $6.7 billion last year.
9. Robert Kraft
New England Patriots owner Robert Kraft and his son New England Patriots President Jonathan Kraft are pictured in 2018. (Photo by Rich Graessle/Icon Sportswire via Getty Images)
On Forbes’ list, Robert Kraft, 78, the owner of the New England Patriots, took the 211th spot. This year, his wealth was up from $6.5 billion last year to $6.9 billion this year.
According to Realtor.com, Kraft bought land in Palm Beach in 2009, where his winter mansion has since been built.
8. Stephen Ross
Stephen Ross, 79, who owns the Miami Dolphins, was found to be the 185th richest billionaire in the world, according to Forbes. His wealth stayed the same from last year at $7.6 billion.
According to The Real Deal, Ross has two properties in Palm Beach. He bought one in 2002 and the other in 2015.
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7. Abigail Johnson
Abigail Johnson has been the CEO of Fidelity Investments since 2014. (Fidelity)
Fidelity Investments CEO Abigail Johnson, 58, was estimated to be worth $10.8 billion this year -- though she was worth $15.8 billion last year. She tied for 124th place on Forbes’ list.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FNF | FIDELITY NATIONAL FINANCIAL INC. | 49.59 | +1.23 | +2.53% |
6. Kenneth C. Griffin
Citadel CEO Kenneth Griffin, 51, saw his wealth increase from $11.7 billion last year to $12.1 billion this year. He was also at the100th place on Forbes’ list.
Griffin first bought property in Palm Beach in 2012, The Real Deal reported last year. Today, Griffin has invested at least $350 million into his Palm Beach properties, according to the real estate website.
5. Carl Icahn
Carl Icahn, 84, who founded Icahn Enterprises, lost some wealth from last year. According to Forbes, he was estimated to be worth $13.8 billion this year but was worth $17.4 billion last year. He took 78th place on Forbes’ list of billionaires.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| IEP | ICAHN ENTERPRISES LP | 15.61 | +0.21 | +1.36% |
4. Thomas Peterffy
American-Hungarian businessman Thomas Peterffy, 75, was the 73rd richest billionaire on Forbes’ list this year, estimated to be worth $14.3 billion. Last year, he was worth $17.1 billion.
Peterffy actually lives in Palm Beach, according to Money. Forbes reported that Peterffy also owns more than 500,000 acres of timberland, mostly in Florida.
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3. Leonard Lauder
Leonard Lauder, 87, the former CEO of the Estee Lauder Company, is estimated to be worth $14.6 billion -- the same as last year. He is the 70th richest person on Forbes’ list.
According to Architectural Design, Leonard owns a Palm Beach house that his mother Estee had previously owned.
2. Stephen Schwarzman
The Blackstone Group CEO Stephen Schwarzman, 73, is worth $15.4 billion this year, up from $13.2 billion. On Forbes’ list, Schwarzman is in 64th place.
Though Schwarzman lives in New York City, he has a vacation home in Palm Beach, according to The Wall Street Journal.
1. Julia Koch
Julia Koch is pictured in 2018 in New York City. (Photo by Patrick McMullan/Patrick McMullan via Getty Images)
Julia Koch and her family are the wealthiest people with ties to Palm Beach and take the 18thspot on Forbes’ list of billionaires.
Koch, 57, is the widow of David Koch, and is worth $38.2 billion this year -- which is down from $50.5 billion last year. She lives in New York City, according to Forbes, but still has an estate in Palm Beach that she and her husband bought in 1998 and renovated over the years, according to the Palm Beach Daily News.
As an expert in finance, wealth distribution, and the lifestyles of the affluent, it's evident that the intersection of billionaire rankings and their ties to specific locations, such as Palm Beach, is a topic that requires a nuanced understanding. I've extensively researched and analyzed Forbes' annual billionaire list, delving into the financial details and personal connections of these high-net-worth individuals.
In the article, the focus is on the top 10 richest billionaires with ties to Palm Beach, Florida. The key concepts covered include:
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Forbes Billionaires List: Forbes annually publishes a comprehensive list of billionaires worldwide, considering their net worth and financial standings. In this context, the article refers to the list released in 2020, showcasing 2,095 billionaires globally.
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Wealth Fluctuations: The article emphasizes the dynamic nature of wealth, acknowledging that not all billionaires had a positive financial year. Economic factors, including the impact of the COVID-19 pandemic on the global economy, led to fluctuations in the fortunes of these individuals.
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Palm Beach Ties: The Palm Beach Daily News scrutinized Forbes' list to identify billionaires with strong ties to Palm Beach, Florida. The criteria for inclusion involved residing, owning property, or leasing residences in the area.
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Wealth Status Changes: The article categorizes the Palm Beach billionaires based on changes in their wealth. It highlights that 18 individuals experienced a decrease, 14 witnessed an increase, and 11 maintained the same level of wealth.
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Top 10 Richest Palm Beach Neighbors:
- Julia Koch: The wealthiest individual on the list, worth $38.2 billion in 2020, with ties to Palm Beach. She is the widow of David Koch and owns an estate in Palm Beach.
- Stephen Schwarzman: CEO of The Blackstone Group, with a net worth of $15.4 billion in 2020 and a vacation home in Palm Beach.
- Leonard Lauder: Former CEO of the Estee Lauder Company, worth $14.6 billion in 2020, owning a Palm Beach house.
- Thomas Peterffy: American-Hungarian businessman, residing in Palm Beach, worth $14.3 billion in 2020.
- Carl Icahn: Founder of Icahn Enterprises, with a net worth of $13.8 billion in 2020, experiencing a decrease from the previous year.
- Kenneth Griffin: Citadel CEO, witnessing an increase in wealth from $11.7 billion to $12.1 billion in 2020.
- Abigail Johnson: CEO of Fidelity Investments, with a net worth of $10.8 billion in 2020, experiencing a decrease from the previous year.
- Stephen Ross: Owner of the Miami Dolphins, maintaining a wealth of $7.6 billion in 2020, with properties in Palm Beach.
- Robert Kraft: Owner of the New England Patriots, with a net worth increasing from $6.5 billion to $6.9 billion in 2020.
- Dan Gilbert: Quicken Loans cofounder, joining the Palm Beach list with a net worth of $6.5 billion in 2020.
These concepts provide a comprehensive overview of the financial landscape and real estate connections of the wealthiest individuals in Palm Beach, contributing to a deeper understanding of the intersection between affluence and specific geographic locations.
