Record 989 Billionaires in U.S., 88 in Texas

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The U.S. now has a record 989 billionaires with a combined fortune of $8.4 trillion, according to Forbes. Texas is home to 88 of them, including the world's richest person, Elon Musk, whose net worth of $839 billion comes from his companies Tesla and SpaceX. Other notable Texas billionaires include Michael Dell, the Walmart heiresses, and oil and gas magnates.

Why it matters

The surge in billionaires, especially in tech and energy-rich Texas, reflects the growing wealth inequality in the U.S. as the ultra-rich continue to amass unprecedented fortunes, raising questions about the fairness of the economic system and its impact on regular Americans.

The details

The U.S. now has the most billionaires in the world at 989, up from previous records. Texas is home to 88 of them, the third most of any state behind California and New York. Elon Musk tops the list with a net worth of $839 billion from his ownership of Tesla and SpaceX. Other top Texas billionaires include Michael Dell, the Walmart heiress family, and oil and gas magnates.

• The Forbes data is based on stock prices and exchange rates as of March 1, 2026.