- By Darrell Hofheinz Daily News Real Esate Writer
Palm Beach’s most famous snowbird, President Donald Trump, saw his net worth drop over the past year from $3.5 billion to $3.1 billion, according to Forbes, which today released its annual list of the world’s billionaires, ranked by their estimated net worth.
Trump earned the 766th place and tied for that spot with 11 other billionaires, including another part-time Palm Beacher, New York real estate asset manager Jane Goldman. Last year, the president came in at No. 544.
Trump and Goldman were among 40 billionaires on the list identified by the Palm Beach Daily News as having strong residential ties to Palm Beach. The vast majority own property on the island, including Trump, whose Mar-a-Lago doubles as his winter White House. But a few on the Daily News list regularly lease during the season.
Once again, industrialist David Koch led the Palm Beach names on the 32nd annual list of what Forbes calls “the richest people on the planet.” Forbes magazine and its website put Koch’s net worth at $60 billion, up from $48.3 billion last year. That ranks him in eighth place, tied with his brother, Charles, with whom he runs Koch Industries. Charles Koch doesn’t have a home in Palm Beach but the two men’s brother, William “Bill” Koch, does. The latter’s fortune of $1.7 billion ties him in 1,394th place with a neighbor, financier Nelson Peltz.
In all, 2,208 billionaires from 72 countries and territories make up the list, their estimated net worth totaling $9.1 trillion. That dollar figure represents an 18 percent increase over 2017, according to a story — titled “Meet the Members of the Three-Comma Club” — by Forbes editors Lisa Kroll and Kerry Dolan.
With a net worth of $115 billion, Amazon’s Jeff Bezos unseated Microsoft founder and Wellington property owner Bill Gates for the top spot on the overall list. Gates, whose net worth is listed as $80 billion, had held the No. 1 ranking for 18 of the past 24 years.
The Palm Beachers on the list are scattered among more than 565 U.S. billionaires. Forbes also ranks many of the locals on its Forbes 400 list of the nation’s billionaires each fall.
By and large, the vast majority of the islanders on the list fared well, with their fortunes rising in tandem with the go-go stock market over the past year.
Among the locals whose names are missing this year from the list is Secretary of Commerce Wilbur Ross, who was previously a perennial. Forbes re-accessed his net worth after it conducted an investigation into Ross’ finances. Forbes pegged his fortune at $2.5 billion in 2017 but today lists it as $700 million.
Other names are also no longer on the Daily News’ list. The late Bruce Halle, who founded Discount Tire, died Jan. 4 at 87. Last year, he was tied in 219th place with a net worth of $6.5 billion. The late consumer products titan Leandro Rizzuto, of the Conair fortune, died Dec. 5 at 79 and was ranked in 367th place last year with a net worth of $4.5 billion.
And billionaire investor George Lindemann, who always landed on the Palm Beach list, sold his North End oceanfront house in June to his next-door neighbor and apparently has not bought another residence on the island. Lindemann, 81, is tied in 703rd place on the list with a net worth estimated at $3.3 billion.
See the entire Forbes list at Forbes.com.
THE 2018 PALM BEACH FORBES LIST
Here are Palm Beach billionaires ranked by Forbes among the world’s richest people — some with primary homes here, some seasonal residents or frequent visitors and still others who simply own property on the island. Where possible, the list also compares 2018 net-worth estimates to the ones Forbes published last year.
Industrialist David Koch, 77, in eighth place, with $60 billion, up from $48.3 billion in 2017
Discount broker pioneer Thomas Peterffy, 73, in 47th place, with $20.3 billion, up from $13.8 billion
Investor Carl Icahn, 82, in 73rd place, with $16.8 billion, up from $16.6 billion
Cosmetics executive Leonard Lauder, 85, in 113th place, with $12.9 billion, up from $8.9 billion
Private equity titan Stephen Schwarzman, 71, in 117th place, with $12.6 billion, up from $11.8 billion
Hedge-fund manager Ken Griffin, 49, tied in 172nd place, with $9 billion, up from $8 billion
Cox Enterprises heiresses Katharine “Kathy” Rayner, 73, and Margaretta Taylor, 75, tied in 178th place, each with $8.7 billion, up from $8.1 billion
Real estate developer and Miami Dolphins owner Stephen Ross, 77, in 205th place, with $7.6 billion, up from $7.4 billion
Russian fertilizer mogul Dmitry Rybolovlev, 51, in 242nd place, with $6.8 billion, down from $7.3 billion
New England Patriots owner Robert Kraft, 76, tied in 281st place, with $6.2 billion, up from $5.1 billion
Money manager Charles Johnson, 85, tied in 321st place, with $5.6 billion, down from $5.8 billion
Financier Henry Kravis, 74, tied in 365th place, with $5.3 billion, up from $5 billion
Medical equipment heiress Ronda Stryker, 63, tied in 382nd place, with $5.1 billion, up from $4.4 billion
Hedge-fund manager Paul Tudor Jones II, 63, tied in 466th place, with $4.5 billion, down from $4.7 billion
Marvel Entertainment owner Isaac Perlmutter, 75, tied in 527th place with $4.1 billion, up from $4 billion
Cosmetics executive Ronald Lauder, 74, tied in 550th place with $4 billion, up from $3.2 billion
Real estate investor Jeff Greene, 63, and oilman and Houston Texans owner Robert McNair, 81, tied in 588th place with $3.8 billion each; Greene’s fortune is up from $3.4 billion
Casino and hotel developer Steve Wynn, 76, tied in 679th place with $3.4 billion, up from $2.5 billion
Real estate asset manager Jane Goldman, 62, and President Donald Trump, 71, tied in 766th place with $3.1 billion each; Goldman’s fortune is up from $3 billion and Trump’s is down from $3.5 billion
Cosmetics executives Jane Lauder, 45, and Aerin Lauder Zinterhofer, 47, tied with investor C. Dean Metropolous, 71, in 965th place with $2.5 billion each; Lauder and Zinterhofer’s fortunes are up from $1.6 billion each, and Metropolous’ is up from $2.4 billion
Tobacco mogul and Philadelphia Phillies co-owner John Middleton, 63, tied in 791st place with $3 billion
Liquor magnate Charles Bronfman, 86, tied in 1,020th place with $2.4 billion, up from $2.3 billion
Money manager Ron Baron, 74, and private-equity specialist Thomas Lee, 73, tied in 1,103rd place with $2.2 billion; Baron’s fortune is unchanged from 2017 and Lee’s is up from $2.1 billion
Slim-Fast founder S. Daniel Abraham, 93, Netscape founder and investor James Clark, 73, hedge-fund manager Glenn Dubin, 60, and Philadelphia Eagles owner Jeffrey Lurie, 66, tied in 1,215th place with $2 billion each; Abraham’s fortune is down from $2.1 billion, Clark’s and Dubin’s are unchanged and Lurie’s is up from $1.8 billion
Cosmetics executive William P. Lauder, 57, in 1,339th place with $1.8 billion, up from $1.1 billion
Investor Nelson Peltz, 75, and oilman and investor William “Bill” Koch, 77, tied in 1,394th place with $1.7 billion each; Peltz’s fortune is up from $1.5 billion and Koch’s is up from $1.3 billion
Money manager Mario Gabelli, 75, in 1,477th place with $1.6 billion, down from $1.5 billion
Insurance magnate and New York Giants co-owner Jonathan Tisch, 64, in 1,561st place with $1.5 billion
Industrial equipment magnate Mitchell Jacobson, 67, in 1,756th place with $1.3 billion, down from $1.5 billion
Reebok founder Paul Fireman, 74, tied in 1,999th place, with $1.1 billion, up from $1 billion
Note: Forbes based the list on data collected on Feb. 9, 2018, and updates the list in real time, based on factors contributing to the billionaires’ net worth. As a result, the list provides a single snapshot of the billionaires’ wealth. See the complete list at Forbes.com.
Did we overlook a Palm Beach billionaire on the Forbes list? Email firstname.lastname@example.org.