Only 3 Black Americans Made the 2023 Forbes 400 List
In the past year, the fortunes of America's wealthiest individuals have collectively surged by an impressive $500 billion, courtesy of the reinvigorated stock markets and the booming AI-powered technology sector. Their combined wealth has now reached a staggering $4.5 trillion, matching the record previously established in 2021.
This year's list includes just three Black Americans. The richest among them is Robert F. Smith, the Founder, Chairman, and CEO of Vista Equity Partners, boasting a net worth of $9.2 billion. Following closely is David L. Steward, the founder and chairman of IT provider World Wide Technology, with a net worth of $7.6 billion. Making his debut on the list is Michael Jordan, who secured a spot after selling his majority stake in the Charlotte Hornets in 2023, valuing the NBA franchise at $3 billion. Jordan's net worth now stands at $3 billion.
To join the ranks of this exclusive group, individuals must now possess a minimum net worth of $2.9 billion, a notable increase from the $2.7 billion required just a year ago, marking an all-time high. Forbes determined these net worth figures based on stock prices as of September 8, 2023.
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