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Forbes
Forbes
5 Oct 2024


Over the 43 years Forbes has published The Forbes 400, a total of 1,739 moguls, heirs and celebrities have made the ranking of America’s richest people. Economic booms, busts, good old fashioned competition—and, of course, father time—have ensured that the list has never featured the exact same 400 people two years in a row. A few flashes in the pan only make the grade for a year. Many others spend a decade or two in the ranks before dropping off or passing away. But a lucky few—the legendary 11—have had staying power, managing to earn a spot on The Forbes 400 every year since its 1982 inception.

In all, they are worth an estimated $342.3 billion today, up from $3.8 billion all the way back in 1982 when they first appeared on Forbes’ ranking (equivalent to $12.2 billion in today’s dollars), meaning they have grown their wealth by some 8,900%, more than double the 4,200% growth of the S&P 500. Their average age is 88.

When Forbes first published The Forbes 400, Warren Buffett was the 52-year-old chairman of a $1.5 billion (assets) Berkshire Hathaway. “Lives modestly,” we wrote. “Estimated net worth: $250 million.” Four decades later, Berkshire’s assets have surpassed $1 trillion and Buffett is the fifth-richest person in America, and the wealthiest “billionaire streaker” never to miss The Forbes 400. His $150 billion net worth is 187 times his 1982 stash, even after adjusting for inflation. (He’d be even richer but for the fact that he’s also America’s most generous philanthropist.)

Only 4 of the 11 are self-made. In addition to Buffett, two retail and fashion tycoons earned their way onto the lists thanks to their world-renowned brands: Nike’s Phil Knight and Les Wexner, the disgraced L Brands founder behind Victoria’s Secret and Bath & Body Works. The fourth self-made icon is Donald Bren, the richest real estate developer in the nation, whose Irvine Co. owns 129 million square feet of real estate, mostly in Southern California.

The remaining seven all got started with substantial help from their families though all but one were able to turn millions into billions. Among them: the 17th-richest person in America Charles Koch; Leonard and Ron Lauder, sons of Estée Lauder; and media giant Donald Newhouse, whose family has investments in Conde Nast, Warner Bros. Discovery and social news site Reddit.

Four other members of the inaugural 1982 ranking made the list in 2024 but fell off at least once along the way. Star Wars billionaire George Lucas dropped off in 1983 due to a divorce settlement, but rejoined in 1996 during the planning stage of the franchise's prequel trilogy. Former president Donald Trump disappeared from the ranks amid his 1990s bankruptcies, and again in 2021 and 2023, but is back among the top 400 this year thanks, largely, to his Truth Social platform. Oil heir Sid Bass didn’t make the cut in 2021, while FedEx founder Fred Smith spent a total of 6 years off the list.

Many of the original 1982 Forbes 400 listees have since died. That includes comedian Bob Hope (d. 2003), who only made the list once; mobster Meyer Lansky (d. 1983); Steve Jobs (d. 2011); and shipping tycoon Daniel Ludwig (d. 1992), the richest person in America in 1982, worth $2 billion ($6.4 billion in today’s dollars). Others who made the original minimum net worth of $100 million (equivalent to $320 million today)—including musician Yoko Ono and heir Timothy Mellon —have either transferred their fortunes to heirs or were simply overtaken in worth by the likes of tech moguls, social media stars and crypto bulls.

The Prophet of Profit

Warren Buffett, who owns 25% of the local baseball team the Omaha Royals, signs a ball at a game held during the Berkshire Hathaway Inc. annual meeting in Omaha. (Photo by Orjan F. Ellingvag/Corbis via Getty Images)

Corbis via Getty Images


Charles Koch

In this February 26, 2007 file photograph, Charles Koch, head of Koch Industries, talks passionately about his new book on Market Based Management. (Bo Rader/Wichita Eagle/Tribune News Service via Getty Images)

Tribune News Service via Getty Images


Phil Knight Legacy Tournament - Mens Championship: Duke v Purdue

PORTLAND, OR - NOVEMBER 27: Nike co-founder Phil Knight is seen during the Purdue Boilermakers and Duke Blue Devils game in the Phil Knight Legacy Tournament Men's Championship at Moda Center on November 27, 2022 in Portland, Oregon. (Photo by Michael Hickey/Getty Images)

Getty Images


Donald Bren, chairman of Irvine Company, is photographed at company headquarters in Newport Beach,

Donald Bren, chairman of Irvine Company, is photographed at company headquarters in Newport Beach, Ca., Jan. 7, 2010. (Photo by Jay L. Clendenin/Los Angeles Times via Getty Images)

Los Angeles Times via Getty Images


Forbes Media Centennial Celebration

NEW YORK, NY - SEPTEMBER 19: Philip Anschutz attends the Forbes Media Centennial Celebration at Pier 60 on September 19, 2017 in New York City. (Photo by Taylor Hill/FilmMagic)

FilmMagic
The Fresh Air Fund Salute To American Heroes

NEW YORK - JUNE 05: Donald Newhouse attends the Fresh Air Fund's Salute To American Heroes on June 5, 2008 at Tavern on the Green in New York. (Photo by Jemal Countess/WireImage)

WireImage

Alzheimer's Drug Discovery Foundation 11th Annual Connoisseur's Dinner

NEW YORK, NY - MAY 10: Chairman emeritus of The Estee Lauder Companies Inc., Leonard Lauder attends the Alzheimer's Drug Discovery Foundation 11th Annual Connoisseur's Dinner at Sotheby's on May 10, 2017 in New York City. (Photo by Mike Coppola/Getty Images)

Getty Images

Harry Macklowe at the Tribecca Grand Hotel Party hosted by L

UNITED STATES - JUNE 14: Harry Macklowe at the Tribecca Grand Hotel Party hosted by Leonard and Allison Stern. (Photo by Richard Corkery/NY Daily News Archive via Getty Images)

NY Daily News via Getty Images

The Fragrance Foundation Awards, Inside, New York, America - 07 Jun 2016

Les Wexner (Photo by Stephen Lovekin/WWD/Penske Media via Getty Images)

Penske Media via Getty Images
Key Speakers At The 2019 CERAWeek Conference

Ray Hunt, chairman of Hunt Consolidated Inc., speaks during the 2019 CERAWeek by IHS Markit conference in Houston, Texas, U.S., on Wednesday, March 13, 2019. The program provides comprehensive insight into the global and regional energy future by addressing key issues from markets and geopolitics to technology, project costs, energy and the environment, finance, operational excellence and cyber risks. Photographer: Aaron M. Sprecher/Bloomberg

© 2019 Bloomberg Finance LP
WJC President Lauder Speaks At Holocaust Memorial

BERLIN - OCTOBER 01: Ronald S. Lauder, President of the World Jewish Congress (WJC) stands infront of the Holocaust memorial on October 1, 2007 in Berlin, Germany. Lauder met German Chancellor Angela Merkel and German Foreign Minister Frank-Walter Steinmeier for talks earlier in the day. (Photo by Andreas Rentz/Getty Images)

Getty Images