It’s never been a better time to be Donald Trump’s neighbor… especially if you’re wealthy.
At least 67 billionaires have properties in Palm Beach in Florida, possessing a combined wealth exceeding $615billion, and according to new data, that number is only going up.
The fortunes of the majority of these individuals – 37 – increased over the past year, including one prominent resident whose estimated net worth rose from $2.3billion on March 8, 2024, to $5.1billion on March 7 of this year, according to Forbes.
Twelve Palm Beach billionaires experienced a decrease in wealth, while 17 saw no change. Australia-born financier Michael Dorrell, a newcomer to the global Forbes list with an estimated $8.5 billion, had no prior year’s data available.
Dorrell and his fellow Palm Beach billionaires are part of a record 3,028 individuals worldwide with fortunes of at least $1billion, totaling a record $16.1trillion.
This global wealth is $2trillion higher than the previous year and surpasses the GDP of all but two countries.
The average billionaire fortune now stands at $5.3billion, an increase of $200million from 2024.
The Palm Beach Daily News compiled its own rich list using Forbes data to reveal the wealthiest of the wealthy who own any type of real estate in the town. Here are the top 10 Palm Beach billionaires.
The top 5 on Palm Beach’s rich list. The Palm Beach Daily News compiled the list from the latest Forbes billionaires list
An analysis of Forbes’s latest billionaires list reveals that at least 67 billionaires have strong residential ties to the town, possessing a combined wealth exceeding $615billion
Julia Koch, 62, is an American billionaire socialite and philanthropist, best known as the widow of the late David Koch, from whom she inherited a significant 42 percent stake in the massive conglomerate Koch Industries
1. Julia Koch
Julia Koch, 62, is an American billionaire socialite and philanthropist, best known as the widow of the late David Koch, from whom she inherited a significant 42 percent stake in the massive conglomerate Koch Industries.
Once again leading the Palm Beach list, Koch and her family are ranked 21st globally with an estimated net worth of $74.2billion, a substantial increase from their $64.3billion fortune in 2024.
She obtained her Palm Beach mansion from her husband’s trust.
Consistently ranking among the wealthiest women globally, she was born Julia Flesher and had a career in the fashion industry in New York before marrying David Koch in 1996, with whom she had three children.
Today, she presides over the David H. Koch Foundation and established her own Julia Koch Family Foundation, channeling her considerable wealth towards impactful philanthropic endeavors in healthcare, education, and the arts.
Thomas Peterffy, 80, is a Hungarian-born American billionaire and the visionary founder and chairman of Interactive Brokers, a prominent electronic brokerage firm
2. Thomas Peterffy
Thomas Peterffy, 80, is a Hungarian-born American billionaire and the visionary founder and chairman of Interactive Brokers, a prominent electronic brokerage firm.
Ranked 27th globally, he comes in at the second wealthiest in Palm Beach. His fortune was recently estimated at $57.3billion, a significant increase from his 2024 ranking and net worth of $34billion.
Emigrating to the United States in 1965, Peterffy revolutionized the financial industry by pioneering the application of computer technology to trading and brokerage.
His early adoption of computerized mathematical models for options pricing and the creation of the first automated market-making firm laid the groundwork for Interactive Brokers, which he established in 1993.
Stephen Schwarzman, 78, is an American billionaire businessman and financier. He is the co-founder, chairman, and CEO of the Blackstone Group, one of the world’s largest private equity firms
3. Stephen Schwarzman
Stephen Schwarzman, 78, is an American billionaire businessman and financier. He is the co-founder, chairman, and CEO of the Blackstone Group, one of the world’s largest private equity firms with over $1trillion in assets under management.
Ranked 31st globally and third in Palm Beach, he saw his wealth rise to $44.4billion from $38.8billion
Born in Philadelphia in 1947, Schwarzman graduated from Yale University and Harvard Business School before embarking on a successful career in finance, including a stint at Lehman Brothers where he became head of global mergers and acquisitions.
In 1985, he co-founded Blackstone with Peter G. Peterson, initially focusing on mergers and acquisitions before expanding into various asset classes like real estate and credit.
Kenneth Griffin, 56, is an American billionaire businessman and the founder and CEO of the hedge fund firm Citadel, which manages over $60billion in assets
4. Kenneth Griffin
Kenneth Griffin, 56, is an American billionaire businessman and the founder and CEO of the hedge fund firm Citadel, which manages over $60billion in assets.
Ranked 35th globally, his fortune is $42.3billion, up from $36.4billion.
He also founded Citadel Securities, a prominent market maker responsible for a significant portion of stock trades in the U.S. Griffin began his career in finance while a student at Harvard University, launching his first hedge fund in his dorm room.
He founded Citadel LLC in 1990, which has since become one of the world’s most successful hedge funds.
Abigail Johnson, 63, is a prominent American billionaire businesswoman who serves as the chair and CEO of the financial services giant Fidelity Investments
5. Abigail Johnson
Abigail Johnson, 63, is a prominent American billionaire businesswoman who serves as the chair and CEO of the financial services giant Fidelity Investments.
Ranked 55th globally, her net worth is $32.7billion, up from $29.3billion.
Born into the family that founded the company, she has spent her entire career within Fidelity, steadily rising through the ranks after earning her MBA from Harvard Business School.
Taking the helm as CEO in 2014 and subsequently as chair in 2016, Johnson has continued to steer the company, overseeing its vast assets and maintaining its position as a leading player in the investment management industry.
Gina Rinehart, 71, is an Australian iron ore magnate and the formidable executive chair of Hancock Prospecting, the mining and agricultural empire she inherited from her father in 1992
6. Gina Rinehart
Gina Rinehart, 71, is an Australian iron ore magnate and the formidable executive chair of Hancock Prospecting, the mining and agricultural empire she inherited from her father in 1992.
Ranking 61st globally, her wealth decreased from $30.8billion to $29.3billion.
As Australia’s wealthiest individual, her astute leadership has dramatically expanded Hancock Prospecting, most notably through the development of the massive Roy Hill iron ore mine.
Beyond iron ore, Rinehart has strategically diversified the company’s interests into a range of commodities, including lithium, rare earths, and agriculture, establishing it as a major player in multiple sectors.
Dan Gilbert, 63, is an American billionaire businessman and the driving force behind several successful ventures, most notably as the co-founder and majority owner of Rocket Mortgage, the nation’s largest retail mortgage lender
7. Dan Gilbert
Dan Gilbert, 63, is an American billionaire businessman and the driving force behind several successful ventures, most notably as the co-founder and majority owner of Rocket Mortgage, the nation’s largest retail mortgage lender.
Ranked 71st globally, his wealth rose from $26.2billion to $27.8billion.
Beyond finance, he is the founder of Rock Ventures, a holding company overseeing a diverse range of businesses and investments, and holds the majority ownership of Cleveland’s professional sports teams, including the NBA’s Cleveland Cavaliers.
Demonstrating a deep commitment to his roots, Gilbert has spearheaded a massive revitalization effort in downtown Detroit through his real estate firm, Bedrock Detroit, investing billions to reshape the city’s landscape.
Thomas Frist Jr., 86, is an American billionaire physician and businessman who co-founded HCA Healthcare, one of the largest for-profit hospital companies in the United States
8. Thomas Frist Jr.
Thomas Frist Jr., 86, is an American billionaire physician and businessman who co-founded HCA Healthcare, one of the largest for-profit hospital companies in the United States.
Ranked 73rd globally, his wealth rose to $27billion, up from $26.2billion last year.
Born on August 12, 1938, he earned a medical degree and served as a flight surgeon before establishing HCA with his father and Jack C. Massey in 1968.
He was chairman and CEO of HCA until January 2001 and chairman until January 2002.
He played a key role in taking HCA private in 2006 in a major leveraged buyout.
David Tepper, 67, is an American billionaire hedge fund manager and the owner of the Carolina Panthers of the National Football League (NFL) and Charlotte FC of Major League Soccer (MLS)
9. David Tepper
David Tepper, 67, is an American billionaire hedge fund manager and the owner of the Carolina Panthers of the National Football League (NFL) and Charlotte FC of Major League Soccer (MLS).
Ranked 95th globally, his net worth rose to $21.3billion, up from $20.6billion from last year.
Born in Pittsburgh in 1957, he earned his MBA from Carnegie Mellon University’s Tepper School of Business.
Tepper founded Appaloosa Management in 1993, a highly successful hedge fund known for its investments in distressed debt.
His astute investment strategies, particularly during the 2008 financial crisis, generated significant returns and solidified his reputation as one of the top hedge fund managers of his generation.
Stephen Ross, 84, is an American billionaire real estate developer, philanthropist, and sports team owner
10. Stephen Ross
Stephen Ross, 84, is an American billionaire real estate developer, philanthropist, and sports team owner.
Ranked 111th globally, his fortune jumped from $10.1 billion last year to $18.4billion.
Born in Detroit in 1940, he is the chairman and founder of The Related Companies, a global real estate development firm known for projects like the Deutsche Bank Center and the Hudson Yards Redevelopment Project in New York City.
Beyond real estate, Ross is the principal owner of the Miami Dolphins of the National Football League (NFL) and Hard Rock Stadium.
He is also involved in other ventures, including being the chairman and co-founder of RSE Ventures, a technology, sports, and entertainment venture firm, and owning the Miami International Autodrome, home of the Formula 1 Crypto.com Miami Grand Prix.
Following the top 10, a diverse array of financiers, entrepreneurs, and heirs with strong residential ties to the island have seen significant shifts in their fortunes over the past year
The other 57
Palm Beach remains a glittering enclave for the ultra-wealthy, as evidenced by the latest Forbes list of the world’s richest people.
Following the top 10, a diverse array of financiers, entrepreneurs, and heirs with strong residential ties to the island have seen significant shifts in their fortunes over the past year.
Among them include financier Henry Kravis, 81, co-founder of KKR, saw his wealth climb to $13.3billion, up from $11.7billion, placing him at 176th globally.
Logistics entrepreneur Bradley Jacobs, 68, experienced a remarkable surge, his fortune jumping to $12billion from $3.7billion, landing him at 199th.
New England Patriots owner Robert Kraft, 83, also saw an increase, his net worth rising to $11.8billion from $11.1billion, tying him at 208th.
Discount brokerage pioneer Charles Schwab, 87, continued his ascent, his fortune reaching $10.8billion from $9.8billion, placing him in a tie at 230th alongside investments mogul Robert F. Smith, 62, whose wealth also grew to $10.8billion from $9.2billion.
However, not all Palm Beach billionaires saw their fortunes rise.
Cosmetics heir Leonard Lauder, 92, experienced a significant decrease, his net worth falling to $10.1billion from $15.1billion, though he still ranks at 271st.
Medical equipment heiress Ronda Stryker, 70, saw a modest increase to $8.6billion from $8.2billion, tying her at 347th.
