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Elon Musk, the billionaire leader of Tesla and SpaceX, is now the richest resident of Texas, according to Forbes magazine’s annual ranking of the 400 richest Americans.
Whether Musk is also the richest person in Austin remains controversial.
With an estimated net worth of $ 190.5 billion, Musk is the second richest American behind Amazon founder Jeff Bezos, who is valued at $ 201 billion according to the new Forbes 400 ranking.
Musk said last year he moved from California to Texas. This surpasses the Walmart heiress Alice Walton, who was previously the richest person in the state. Walton ranks way behind Musk in Texas with an estimated net worth of $ 67.9 billion. Dell Technologies founder and Austin resident Michael Dell is number 3 on the Texas list, according to Forbes, with an estimated net worth of $ 50.1 billion.
What is less clear is where exactly in Texas Musk can be considered a primary residence. Forbes lists Austin as the residence of Musk, but the magazine didn’t say how it verified that Musk is actually an Austinite. Musk himself has never publicly confirmed that he lives in Austin. In fact, he said on a social media post in June that his primary residence is a “tiny home” worth $ 50,000 in South Texas near Boca Chica on a SpaceX campus.
Tesla is currently building a $ 1.1 billion assembly facility in Travis County, and the company plans to broadcast its annual shareholder meeting live from there this week.
More:Elon Musk confirms it: he moved to Texas
More:Austin billionaire Sheth leaves Vista Equity after Smith tax scandal
More:Analysts Wondering: Is Dell Technologies Preparing For Leadership Change?
If Musk really lives in Austin, he’ll give the city a total of seven billionaires under the Forbes 400. Alongside Musk and Dell, the other Austinites are on the list:
- Robert F. Smith, founder of private equity firm Vista Equity Partners; estimated net worth of $ 6.7 billion
- Bert “Tito” Beveridge, founder of Tito’s Vodka; estimated net worth of $ 4.8 billion
- Thai Lee, CEO of IT provider SHI International; estimated net worth of $ 4 billion
- Joe Liemandt, founder of ESW Capital; estimated net worth of $ 3 billion
- Jim Breyer, founder and CEO of Breyer Capital; estimated net worth of $ 2.9 billion
These seven aren’t the only billionaires living in Austin, however. The Forbes 400 are the 400 richest people in the United States, but there are more than 2,600 billionaires in the country, according to the magazine.
According to Forbes, other Austin residents with net worth greater than $ 1 billion are:
- John Paul DeJoria, co-founder of hair care company John Paul Mitchell Systems and founder of tequila maker Patrón Spirits; estimated net worth of $ 2.8 billion
- David Booth, co-founder of Dimensional Fund Advisors; estimated net worth of $ 1.8 billion
- Whitney Wolfe Herd, founder of the dating app company Bumble; estimated net worth of $ 1.3 billion
Austin-based Brian Sheth, co-founder and former president of Vista Equity Partners, is no longer on Forbes’ billionaires list. Sheth, who left Vista Equity Partners last year, has an estimated net worth of $ 900 million, according to Forbes, up from a Forbes estimate of $ 2.3 billion in 2020.
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