What We Know About America’s Billionaires: 1,135 and Counting
Exclusive, up-close look at the richest people in the U.S., from celebrities like Taylor Swift and Elon Musk to a founder of a roofing supplier in Wisconsin
3 min
“Billionaire” evokes tech founders such as Jeff Bezos or Bill Gates , but there is a large and growing group of people worth at least $1 billion in small towns and big cities that rarely make the headlines.
There were 1,135 billionaires in the U.S. as of 2024—up from 927 in 2020, according to data from Altrata, a wealth-intelligence firm. The biggest concentration, 255 of them, is in California. But the super rich are also behind businesses in places such as Ridgeland, Miss., and Waunakee, Wisc.
Collectively, these people are worth about $5.7 trillion, according to Altrata’s estimates. That’s enough wealth to buy…
While many of these individuals own properties in upscale communities such as Palm Beach, Fla., they also congregate in destinations such as Cashiers, N.C.—a town in the Blue Ridge Mountains where four billionaire families have residences. The smallest town where a billionaire owns property? Winifred, Mont., population 172.
The list of billionaires includes some familiar dynasties, such as the Walmart Waltons and Hyatt Pritzkers. There are also lesser known members of this elite club, such as Diane Hendricks , co-founder of roofing-products distributor ABC Supply, and the heirs to the Russell Stover Chocolates fortune.
The billionaire border can be fuzzy. Markets fluctuate, the value of private companies can be uncertain and big donations dent fortunes, meaning dozens of individuals—even stars such as LeBron James and Beyoncé—can move on or off the list.
The 100 richest billionaires account for nearly $3.86 trillion in wealth—more than half the total. Just three men— Elon Musk , Bezos and Mark Zuckerberg —account for almost $1 trillion of it.
Despite those outsize Silicon Valley fortunes , most U.S.-based billionaires didn’t make their wealth in tech. About 300 came from banking and finance, compared with roughly 110 from the tech sector. Another 75 came from real estate.
A third of billionaires inherited much or all of their wealth, Altrata said. There is just one Rockefeller on the list, but 50 billionaire heirs of five companies hold roughly $830 billion total. These individuals account for nearly 15% of all the billionaires’ wealth. undefined
Billionaires have publicly donated or pledged to give about $185 billion since 2015, according to Altrata. Mostly, they support causes such as education and medical research—they gave $90 billion to those two in the past 10 years. That has given them sway in ongoing campus debates over freedom of speech and antisemitism.
While some billionaires such as Gates and Warren Buffett have openly pledged to give away much of their wealth , others have donated little so far. About a quarter of the billionaires in the list have known donations of less than $1 million in the past decade.
Some give more to organizations they’re tied to. Hedge-fund manager Bill Ackman gave about $120 million to multiple causes, but he gave $1.36 billion to a foundation where he and his wife serve as trustees, which supports medical research and other causes.
Among the top recipients of donations tracked by Altrata are global charities such as the Gates Foundation and Gavi, the Vaccine Alliance.
One of the most popular recipients is the Central Park Conservancy in New York, which received donations from 89 billionaires worth about $100 million.
Johns Hopkins University received $7.5 billion from close to 30 billionaires, but most of it came from Michael Bloomberg , who gave more than $5 billion.
Methodology
The Wall Street Journal analysed data on more than 1,100 individuals provided by Altrata, which estimates net worth by assessing privately and publicly held businesses and investible assets. Altrata’s data on properties includes residences, land parcels and other properties owned in the person’s name. It uses primary business address to determine a billionaire’s location and assigns each billionaire to a primary industry based on their current roles. Altrata adjusts totals to account for shifts in asset values that could push some individuals over or under $1 billion in wealth.
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Capital Haus has snapped up Adelaide stalwart Baker Young, lifting its funds under management beyond AUD$1 billion and signalling a generational shift in the advice industry.
3 min
Capital Haus has moved to expand its national presence with the acquisition of Adelaide advisory firm Baker Young, one of Australia’s longest-standing private wealth practices.
The deal will see the combined group’s funds under management exceed AUD$1 billion, as adviser numbers and client coverage grow across the country.
Founded more than 40 years ago by Alan Young and David Baker, Baker Young today serves over 6,000 clients and manages AUD$700 million in assets.
Under the agreement, the Baker Young brand will be retained, and senior principals including Young and Baker will continue in active advisory roles.
Capital Haus will also migrate its existing clients to the refreshed ‘Baker Young, a Capital Haus company’ banner, which becomes its flagship advisory business.
A new offering for ultra-high-net-worth clients, Baker Young Private, will be introduced, providing access to wholesale opportunities, global private credit financing and capital raises.
Both firms’ clients will continue working with their current advisers, while gaining access to broader group-level capability, including global research, multi-asset solutions and cross-border services. Baker Young will also gain upgraded institutional-grade infrastructure and portfolio management systems.
The acquisition adds further momentum to Capital Haus’ expansion. Established in Sydney in 2019, the company has since launched offices in Dubai and Zurich and acquired practices in Townsville and Bateman’s Bay.
With the addition of Baker Young’s team, plus new managers from RiverX Investment Management and Active Super, the group now employs 41 advisers and support staff.
Brendan Gow, Founder and CEO of Capital Haus Group, said: “Baker Young has been a cornerstone of South Australia’s advice community for four decades, built on deep relationships and trust. We feel privileged to be the next custodian of that legacy.
“By moving our existing client base across to the Baker Young brand, as well as launching the new Baker Young Private service, this deal represents more than just a passing-the-torch moment. We’re combining heritage and innovation to set a new standard for financial advice at a time when the industry needs it most.”
The acquisition lands at a pivotal moment for the sector. Adviser numbers have halved since 2018, falling from around 28,900 to fewer than 15,300 as at September 2025, even as demand surges.
More than 10.2 million Australian adults were seeking financial advice in 2024, driven in part by intergenerational wealth transfer and growing expectations from Millennials and Gen Z for both trusted relationships and digitally enabled service.
Alan Young, Co-Founder and Joint MD of Baker Young, said: “For 40 years, our focus has been simple: put clients first and build relationships that span generations. Capital Haus shares that philosophy.
“We are planning for the long term – for our clients, our team and our brand. Becoming part of the Capital Haus Group means our legacy will endure, while also providing stability for clients, as well as access to exciting new opportunities. It is the right succession step for our practice and a positive evolution for our clients.”
David Baker, Co-Founder and Joint MD, added: “We’ve spent four decades building Baker Young on a foundation of trust, personalised service, and consistent performance. We’re energised by the shared vision Capital Haus is pursuing and we’re proud to be part of it.”
Gow said: “We believe the future of advice belongs to firms that can combine old-fashioned relationship banking with modern, global wealth capabilities. By bringing Baker Young into the Capital Haus family, we’re preserving one of Australia’s great advisory brands while building a platform that can serve the next generation of investors.”
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