Palm Beach in Florida has long been home to the wealthy, and it looks like the area is only becoming more exclusive.
In fact, over 67 billionaires call the seaside town their residence, collectively amassing a fortune exceeding $615 billion.
According to the latest data, the number of billionaires in Palm Beach is on the rise, reflecting an increase in their overall wealth.
A Year of Growth for Many Palm Beach Billionaires
Among the billionaires who reside in Palm Beach, 37 saw their fortunes increase over the past year.
One prominent resident experienced a significant jump in wealth, with their net worth rising from $2.3 billion to $5.1 billion in just one year.
On the other hand, twelve billionaires saw their wealth decline, and 17 maintained the same financial standing.
Michael Dorrell, an Australian financier, is a new addition to the list, with an estimated fortune of $8.5 billion.
His rapid rise in the financial ranks speaks to the ongoing success of Palm Beach’s elite residents.
This increase in wealth is part of a larger trend, with the global number of billionaires growing to a record 3,028 people, collectively worth $16.1 trillion.
The Wealth of Palm Beach Billionaires
Among the wealthiest individuals in Palm Beach, some names stand out. Julia Koch, widow of the late David Koch, tops the list.
With a fortune of $74.2 billion, an increase from last year’s $64.3 billion, she continues to hold the top position.
Koch, who inherited a significant stake in Koch Industries, has also been involved in major philanthropic initiatives through the David H. Koch Foundation and her own Julia Koch Family Foundation.
Following her is Thomas Peterffy, the Hungarian-born founder of Interactive Brokers, with an impressive net worth of $57.3 billion, up from $34 billion last year.
Peterffy revolutionized the financial industry by integrating computer technology into trading, making him one of the wealthiest entrepreneurs in Palm Beach.
Top Palm Beach Billionaires Leading the Pack
- Julia Koch
Julia Koch is an American billionaire philanthropist who inherited a massive fortune from her late husband. With a net worth of $74.2 billion, she holds the top spot in Palm Beach. - Thomas Peterffy
Founder of Interactive Brokers, Thomas Peterffy’s wealth rose significantly to $57.3 billion, making him the second wealthiest resident of Palm Beach. - Stephen Schwarzman
Co-founder of Blackstone Group, Stephen Schwarzman is a prominent financier with a net worth of $44.4 billion, solidifying his place among Palm Beach’s wealthiest. - Kenneth Griffin
The founder of Citadel, Kenneth Griffin, continues to see his fortune rise, now valued at $42.3 billion. - Abigail Johnson
Chair and CEO of Fidelity Investments, Abigail Johnson has an estimated wealth of $32.7 billion, continuing the legacy of her family’s financial empire. - Gina Rinehart
Australian mining magnate Gina Rinehart, who heads Hancock Prospecting, holds a net worth of $29.3 billion. - Dan Gilbert
Founder of Rocket Mortgage and majority owner of the Cleveland Cavaliers, Dan Gilbert’s wealth has climbed to $27.8 billion. - Thomas Frist Jr.
Co-founder of HCA Healthcare, Thomas Frist Jr. is valued at $27 billion, up from $26.2 billion last year. - David Tepper
Hedge fund manager and owner of the Carolina Panthers, David Tepper’s wealth rose to $21.3 billion. - Stephen Ross
Real estate developer and Miami Dolphins owner, Stephen Ross saw his fortune jump to $18.4 billion, making him one of the wealthiest in Palm Beach.
The Rising Wealth of Palm Beach’s Elite
Palm Beach remains one of the most sought-after locations for the ultra-wealthy.
While the top billionaires continue to lead the pack, many other notable figures have seen their fortunes grow.
Some, like Henry Kravis and Robert Kraft, also experienced increases in their wealth, while others like Leonard Lauder and Ronda Stryker saw modest changes.
Overall, Palm Beach’s billionaires are showing no signs of slowing down, and their growing fortunes only add to the exclusivity of this luxurious location.
As the list of wealthy residents expands, so does the allure of this Florida town as the ultimate billionaire’s paradise.
