Page 7 - Forbes Magazine-October 31, 2018

THE FORBES

It’s another record-
breaking year for the
richest Americans. For
the first time since
1994, there is a new No.
1, Jeff Bezos, the first
person ever to appear in
the ranks who is worth
more than $100 billion.
The minimum net worth
needed to make the
list rose to $2.1 billion,
the highest to date and
$100 million more than
last year. List members’
average net worth is $7.2
billion, up 7.5% from
a year ago, while their
combined net worth rose
to a record high of $2.9
trillion. Of that total
wealth, half is held by
the 45 richest people in 1. JEFF BEZOS
the country. $160 BILLION S SELF-MADE SCORE: *
SOURCE: AMAZON
AGE: 54 RESIDENCE: SEATTLE
PHILANTHROPY SCORE:
Bezos is the richest person on earth. His net
worth shot up by a record $78.5 billion in the
past year, thanks to a 104% surge in the price
of Amazon stock. The e-commerce Goliath
recorded more than $100 billion in net sales
in the first six months of 2018, a 41% jump
from the prior year. Also reaching for the
stratosphere is Blue Origin, the space com-
pany he funds by selling $1 billion or so of
Amazon stock a year; the firm, whose mis-
sion is to make space travel more accessible,
successfully completed its 9th test flight in
July. Back on Earth, Bezos made good on his
promise to unveil his philanthropic plan. In
September, he announced a $2 billion com-
mitment to two initiatives: funding existing
nonprofits that help homeless families and
creating a network of nonprofit preschools
in low-income communities that follow the
Montessori teaching method (Bezos attend-
ed a Montessori school). Called the Bezos
Day One Fund, it will need about 1 million
Amazon shares—1.3% of his current trove—
to fulfill the $2 billion commitment.

MICHAEL PRINCE FOR FORBES
WEALTH INHERITED VS. SELF-MADE CHANGE IN WEALTH KEY: S UP T DOWN SIGNATORY OF THE PHILANTHROPY RATING OCTOBER 31, 2018 FORBES | 127
! @ # $ % ^ & * ( ) WX UNCHANGED Ì NEW TO LIST 3 RETURNEE GIVING PLEDGE