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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The pandemic-fuelled love affair with casual footwear is fading, with Bank of America warning the downturn shows no sign of easing.
The pandemic-fuelled love affair with casual footwear is fading, with Bank of America warning the downturn shows no sign of easing.
2 minThe boom in casual footware ushered in by the pandemic has ended, a potential problem for companies such as Adidas that benefited from the shift to less formal clothing, Bank of America says.
The casual footwear business has been on the ropes since mid-2023 as people began returning to office.
Analyst Thierry Cota wrote that while most downcycles have lasted one to two years over the past two decades or so, the current one is different.
It “shows no sign of abating” and there is “no turning point in sight,” he said.
Adidas and Nike alone account for almost 60% of revenue in the casual footwear industry, Cota estimated, so the sector’s slower growth could be especially painful for them as opposed to brands that have a stronger performance-shoe segment. Adidas may just have it worse than Nike.
Cota downgraded Adidas stock to Underperform from Buy on Tuesday and slashed his target for the stock price to €160 (about $187) from €213. He doesn’t have a rating for Nike stock.
Shares of Adidas listed on the German stock exchange fell 4.5% Tuesday to €162.25. Nike stock was down 1.2%.
Adidas didn’t immediately respond to a request for comment.
Cota sees trouble for Adidas both in the short and long term.
Adidas’ lifestyle segment, which includes the Gazelles and Sambas brands, has been one of the company’s fastest-growing business, but there are signs growth is waning.
Lifestyle sales increased at a 10% annual pace in Adidas’ third quarter, down from 13% in the second quarter.
The analyst now predicts Adidas’ organic sales will grow by a 5% annual rate starting in 2027, down from his prior forecast of 7.5%.
The slower revenue growth will likewise weigh on profitability, Cota said, predicting that margins on earnings before interest and taxes will decline back toward the company’s long-term average after several quarters of outperforming. That could result in a cut to earnings per share.
Adidas stock had a rough 2025. Shares shed 33% in the past 12 months, weighed down by investor concerns over how tariffs, slowing demand, and increased competition would affect revenue growth.
Nike stock fell 9% throughout the period, reflecting both the company’s struggles with demand and optimism over a turnaround plan CEO Elliott Hill rolled out in late 2024.
Investors’ confidence has faded following Nike’s December earnings report, which suggested that a sustained recovery is still several quarters away. Just how many remains anyone’s guess.
But if Adidas’ challenges continue, as Cota believes they will, it could open up some space for Nike to claw back any market share it lost to its rival.
Investors should keep in mind, however, that the field has grown increasingly crowded in the past five years. Upstarts such as On Holding and Hoka also present a formidable challenge to the sector’s legacy brands.
Shares of On and Deckers Outdoor , Hoka’s parent company, fell 11% and 48%, respectively, in 2025, but analysts are upbeat about both companies’ fundamentals as the new year begins.
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