With a net worth of $7.6 billion, H-E-B Chairman Charles Butt is the wealthiest resident of the Alamo City, according to Forbes’ annual list of the 400 richest people in the United States.
Butt ranks at No. 13 among the 45 Texans on the list and also at No. 121 nationwide. Tesla and SpaceX CEO Elon Musk, who’s reportedly worth $251 billion, took the top spot both on Forbes‘ Texas and U.S. lists.
Michael Dell, CEO of Round Rock-based Dell Technologies, landed at No. 2 in the Texas rankings with a net worth of $71.5 billion.
Larry Ellison, co-founder of Austin-based software company Oracle Corp., added more dollars to his net worth than anyone on the list over the past year, according to Forbes. The $57 billion rise in Ellison’s wealth is thanks to the boom of generative artificial intelligence, the magazine reports.
No other San Antonio residents earned enough to make this year’s list.
Overall, the richest U.S. residents are getting richer, according to the magazine’s analysis. The combined net worth of $3.2 trillion of those on the list is up from $2.7 trillion in 2022.
Those interested in making Forbes‘ list next year will need amass at least $2.9 billion to break into the bottom slot, according to the report. Even then, that’s no guarantee, provided that the bank accounts of those in the rankings continue to swell.
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This article appears in Oct 4-17, 2023.