The Rich Get Poorer: These 51 People Dropped Off The Forbes 400 In 2021

D Dipasupil/getty photos, Jordan Strauss/Invision-AP, Jamel Toppin for Forbes

A flock of newcomer entrepreneurs pushed indispensable faces, including Donald Trump and Oprah Winfrey, off this year’s listing of The US’s richest other folks.

It keeps getting more durable and more durable to bag The Forbes 400 listing of the richest other folks in The US. The cutoff for this year’s listing climbed to a file $2.9 billion (up from $2.1 billion final year), knocking 51 other folks—including a few of the most indispensable faces in American enterprise—off the listing.

Of the 51 moguls to tumble out of the ranks, 31 are in actuality richer than they were in 2020. That capabilities tobacco billionaire Brad Kelley and Columbia Sports clothing CEO Timothy Boyle. Both received a complete bunch of millions of bucks wealthier over the past year—nonetheless were outpaced by rookies fancy Brian Armstrong, of cryptocurrency substitute Coinbase, and George Kurtz, of cybersecurity company CrowdStrike.

Seven tumble-offs saw no substitute of their fortune since final year; 13 are poorer. An additional five participants of ultimate year’s listing passed away, making the turnover for this year’s listing 14%. That’s more than twice what it modified into final year, as established enterprise behemoths lost spots to up-and-coming entrepreneurs. For the first time in 25 years, Donald Trump doesn’t appear on The Forbes 400. His fortune currently stands at an estimated $2.5 billion, $400 million below the cutoff.

Right here’s a more in-depth eye at a few of the different important tumble offs:


(Photo by Frennie Shivambu/Gallo Photos/Getty Photos)

Getty Photos

Oprah Winfrey

Earn Worth: $2.6 billion

Source of wealth: Media & leisure

Oprah first appeared on The Forbes 400 in 1995, with a salvage price of $340 million. These days she owns $2.6 billion price of valid property, Weight Watchers stock, the Oprah Winfrey Community and other sources — making her one amongst the richest American entertainers, nonetheless $300 million quick of the cutoff for this year’s Forbes 400. She’s mute a powerhouse, though: her March sitdown with Prince Harry and Meghan Markle attracted over 70 million viewers and earned her an Emmy nomination.


Ronald Perelman

Earn Worth: $2.8 billion

Source of wealth: Leveraged buyouts

Perelman, who has appeared on The Forbes 400 each and each year since 1987, drops off this year after his fortune took a valuable nosedive amid the Covid-19 pandemic. In mid 2020, he started selling off sources, including his majority stake in Humvee maker AM Traditional, a $900 million stake in playing products company Scientific video games, a flavorings firm and presumably a complete bunch of millions of bucks price of artwork, raising questions about his debt. The mogul, who made his fortune in the 1980s from leveraged buyouts and investments, has seen his salvage price tumble virtually about $10 billion over the final five years, from $12.2 billion in 2016 to an estimated $2.8 billion this year.



(Photo by Axelle/Bauer-Griffin/FilmMagic)

FilmMagic

John Paul DeJoria

Earn Worth: $2.8 billion

Source of wealth: Hair products, tequila

The billionaire who made his fortune in haircare not makes the decrease. DeJoria founded Paul Mitchell Systems in 1980  and then cofounded Patrón Tequila nine years later. In 2018 he bought his 70% stake in Patrón to Bacardi in a deal that valued the firm at $5.1 billion endeavor price, nonetheless he mute owns a majority stake in Paul Mitchell. Though revenues for the shampoo firm were tormented by hair salon closures all the way throughout the pandemic, DeJoria’s salvage price is up $100 million from final year to $2.8 billion — nonetheless mute $100 million quick of this year’s Forbes 400 cutoff. He is off the listing for the first time since his debut in 2008.


Doris Fisher

Earn Worth: $2.8 billion

Source of wealth: Gap

The Gap cofounder first appeared on the listing in 1990, nonetheless dropped off between 2005 and 2007. Now she’s dropping off all as soon as more, no matter a 99% rise in Gap stock over the past year. She owns roughly 5% of the publicly traded firm, serving to push up her fortune by $500 million, to $2.8 billion—appropriate skittish of setting up the grade for this year’s listing. Her son John mute made the decrease, at No. 389.


Trevor Milton, founder and CEO of Nikola Motor Co, photographed for Forbes in August 2019 by Tim Pannell.

Tim Pannell/The Forbes Sequence

Trevor Milton

Earn Worth: $1 billion

Source of wealth: Electrical autos

The founding father of electrical truck startup Nikola lost $2.3 billion as firm stock plummeted amid allegations that he lied in regards to the capabilities of his autos to drive up Nikola’s half tag. In July, the authorities  charged him with wire and securities fraud, and he therefore pleaded not responsible. Milton took Nikola public by way of a SPAC in June 2020. He made his first appearance on The Forbes 400 final year, with a salvage price of $3.3 billion. Since then, Nikola stock has plunged 70%. 


Listed below are the different tumble offs from the Forbes 400 in 2021, alongside with their salvage worths as of September 3, 2021:

Gerald Ford | Earn price: $2.6 billion | Source of wealth: banking

Gordon Getty | Earn price: $2.1 billion | Source of wealth: Getty oil

Alec Gores | Earn price: $2.8 billion | Source of wealth: Non-public fairness

Bruce Karsh | Earn price: $2.2 billion | Source of wealth: Non-public fairness

Howard Marks | Earn price: $2.2 billion | Source of wealth: Non-public fairness

William Stone | Earn price: $2.7 billion | Source of wealth: Instrument

Timothy Boyle | Earn price: $2.7 billion  | Source of wealth: Columbia sports clothing

Robert Duggan | Earn price: $2 billion | Source of wealth: Pharmaceuticals

Jeffrey Gundlach | Earn price: $2.2 billion | Source of wealth: Investments

Phillip T. (Terry) Ragon | Earn price: $2.3 billion | Source of wealth: Successfully being IT

Ted Turner  | Earn price: $2.3 billion | Source of wealth: Cable television

David Walentas | Earn price: $2.3 billion | Source of wealth: Proper property

Evan Williams | Earn price: $2.4 billion  | Source of wealth: Twitter

Sid Bass | Earn price: $2.7 billion | Source of wealth: Oil, investments

Jim Coulter | Earn price: $2.6 billion | Source of wealth: Non-public fairness

Valentin Gapontsev & family | Earn price: $2.4 billion | Source of wealth: Lasers

Noam Gottesman  | Earn price: $2.4 billion | Source of wealth: Hedge funds

Clayton Mathile | Earn price: $2.3 billion | Source of wealth: Pet food

Stewart Rahr  | Earn price: $2.5 billion | Source of wealth: Drug distribution

Phil Ruffin | Earn price: $2.2 billion | Source of wealth: Casinos, valid property

Brian Sheth | Earn price: $900 million | Source of wealth: Investments

Kavitark Ram Shriram | Earn price: $2.7 billion | Source of wealth: Endeavor capital, Google

Daniel Pritzker | Earn price: $2.6 billion | Source of wealth: Accommodations, investments

Charles Zegar | Earn price: $2.6 billion | Source of wealth: Bloomberg LP

Brian Acton | Earn price: $2.8 billion | Source of wealth: WhatsApp

John Arrillaga | Earn price: $2.6 billion | Source of wealth: Proper property

Leon G. Cooperman | Earn price: $2.5 billion | Source of wealth: Hedge funds

Phillip Frost | Earn price: $2.4 billion | Source of wealth: Pharmaceuticals

Brad Kelley | Earn price: $2.7 billion | Source of wealth: Tobacco

C. Dean Metropoulos  | Earn price: $2.7 billion | Source of wealth: Investments

John Pritzker  | Earn price: $2.7 billion | Source of wealth: Accommodations, investments

Leonard Schleifer | Earn price: $2.6 billion | Source of wealth: Pharmaceuticals

Glen Taylor  | Earn price: $2.6 billion | Source of wealth: Printing

Travis Kalanick  | Earn price: $2.8 billion | Source of wealth: Uber

Jim Koch | Earn price: $2 billion | Source of wealth: Beer

James Jannard | Earn price: $2.8 billion | Source of wealth: Shades

Sean Parker | Earn price: $2.8 billion | Source of wealth: Fb

Richard Peery | Earn price: $2.8 billion | Source of wealth: Proper property

Norman Braman | Earn price: $2.8 billion | Source of wealth: Art, vehicle dealerships

Andres Santo Domingo | Earn price: $1.8 billion | Source of wealth: Beer

Ben Ashkenazy  | Earn price: $2.7 billion | Source of wealth: Proper property

Allan Goldman | Earn price: $2.8 billion | Source of wealth: Proper property

Amy Goldman Fowler | Earn price: $2.8 billion | Source of wealth: Proper property

Diane Kemper | Earn price: $2.8 billion | Source of wealth: Proper property

Osman Kibar | Earn price: $2.3 billion | Source of wealth: Biotech


SEE THE FORBES 400 LIST OF 2021


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