18 billionaires from Dallas-Fort Worth make Forbes’ 400 Richest Americans List in 2017

Forbes released its annual 400 Richest Americans list on Tuesday, October 17 and the verdict is in: 18 of the 34 Texans who made the cut call Dallas-Fort Worth “home”.

The richest Texan is Alice Walton, 68, the Walmart heiress who resides in Dallas-Fort Worth and whose estimated net worth is at $38.2 billion. She ranks No. 13 on the Forbes 400. She is an active curator of art, serving as Chairman of Crystal Bridges Museum of American Art in Bentonville, Arkansas and having supported the Amon Carter Museum of American Art.

Texas’ economy is diverse but its main sources of wealth are oil, gas, and pipelines. The Forbes 400 reflected this with Robert Bass, Ray Lee Hunt, Trevor Rees-Jones, and Sid Bass among DFW residents in the Top 400 whose fortunes were built on oil. Others like Andrew Beal and H. Ross Perot Senior and Junior made their wealth through real estate. Sports also played a role, with Dallas Cowboys owner Jerry Jones, worth an estimated $5.6 billion, rounding out the top three richest Texans and No. 95 in the country. Dallas Mavericks owner Mark Cuban has an estimated $3.3 billion, making him the 21st richest Texan.  Cuban is also an investor on the television show, “Shark Tank.”

Bill Gates remains the richest American, with $89 billion. Jeff Bezos, Amazon founder and CEO, claimed the No.2 spot with $81.5 billion, replacing Warren Buffett who previously held title for fifteen years and now sits at No. 3 with $78 billion. Facebook’s Mark Zuckerberg rounded the top four Richest Americans with a net worth of $71 billion.

2017 has proven a successful year for the country’s wealthiest Americans. Forbes’ 400 criteria jumped from 2016’s $1.7 billion net worth threshold to $2 billion. The Forbes 400’s total net worth is $2.7 trillion compared to last year’s $2.4 trillion.

Despite the minimum increase, 22 newcomers made the Forbes 400 list with 14 of them being self-made entrepreneurs. Notable innovators include Don Vultaggio, founder of Arizona ice tea and Tito Beveridge who created Tito’s Handmade Vodka. Netflix founder Reed Hastings also notably landed a spot on the Forbes 400 with an estimated $2.2 billion.

Are you an aspiring entrepreneur in Dallas-Fort Worth engaging in R&D to develop new products and maybe one day make the Forbes 400 Richest Americans List? You could be eligible for the R&D Tax Credit and can receive up to 14% on your expenses. To find out more, please contact a Swanson Reed R&D Specialist today.

Who We Are:

Swanson Reed is Texas’ largest Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services. We manage all facets of the R&D tax credit program in Texas, from claim prep & audit compliance to claim disputes.  

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPA’s.  For more information please visit us at www.swansonreed.org/webinars or contact your usual Swanson Reed representative

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