Most US billionaires made their wealth in banking and finance rather than tech

The .1% of Americans used to control 7% of all US wealth, but today, they control closer to 18%

Tax policy changes have likely contributed to the recent rise in the number of US billionaires. The average tax rate for the top 400 or so richest Americans is now about half of what it was 50 years ago in the 1970s, while the tax rates for the bottom 90% of Americans have not budged much at all.

How popular are America's billionaires?

The US has more billionaires than any other country, and they are a mix of media moguls, entrepreneurs, and entertainers. This list ranks the 10 richest Americans by their popularity. The oracle of Omaha, Warren Buffett, ranks highest in favorability at 52%, while Google cofounder Sergey Brin ranks lowest—likely because 72% of respondents didn't recognize his name.

Around 60% of female billionaires in the US are considered self-made

There are 154 female billionaires in America, and around 60% of them are considered at least partially self-made—meaning some of their wealth comes from a business venture launched on their own. Alice Walton, the founder of Walmart's daughter, is the richest woman in the US, clocking a net worth of $138B. (Some users may experience a paywall.)

American billionaires' wealth, visualized

America's top 20 billionaires have a combined wealth of $2.7T as of 2024. That's more than Russia's annual GDP. But some billionaires, like Elon Musk, hold a greater share of that $2.7T number than others. To see just how much money each of these 20 billionaires have in comparison to the others in the group, check out this data visualization.

The wealthiest Americans own the vast majority of the stock market

Recent data from the Federal Reserve shows that the richest people in America own 93% of all the country's stock—the highest level ever recorded. Meanwhile, the bottom 50% of Americans held just 1% of all stocks.

See a visual of the US states with the most billionaires

This map of the US shows the states with the most billionaires as of 2025. As of July 2025, there were 899 US billionaires, although some of them live abroad.

Half of the richest people in the US are finding ways around death taxes

One of the main purposes of the federal estate tax is to crack down on generational wealth, so wealth isn't concentrated among a select few. However, the ultra-rich have found ways around paying these taxes. This ProPublica article investigates the practices used by half of the 100 richest people in the US to avoid death taxes.

Who owns America's wealth?

This visualization breaks down the total net worth of all US households by wealth percentile, listing the number of households in each percentile. As you'll see in the graphic, the total net worth of all US households is close to $160T, and the richer half of the country owns roughly 98% of it. Check out the visual here.

See Bloomberg's continuously updated Billionaire Index

This ranking, updated daily, shows a running tally of the world's 500 richest people. Tesla and SpaceX CEO Elon Musk has largely been atop the list, with a net worth of around $723B as of June 2026. Values fluctuate significantly as much of the wealth is tied to equity in companies. (Some users may experience a paywall.)

Americans are projected to inherit $105T over the next 30 years

Today, someone's financial standing has more to do with their families than any other outside factor. Of the more than $100T of projected inheritance, that money is concentrated among a few wealthy estates and families.

Many of the top companies in the US by market cap began as tech startups

Combined, the top seven companies by market cap in the US as of December 2024—Apple, Nvidia, Microsoft, Alphabet, Amazon, Meta, and Tesla—were worth more than $16T at the time.

Track Warren Buffett’s real-time net worth

Buffett is worth many, many billions of dollars. As a self-made billionaire, he is the eighth-richest man in the world, and his real-time net worth changes daily.

In Switzerland, there was one billionaire for every 80,000 people as of 2022, making it one of the countries with the most billionaires per capita

Swiss residents overall have a mean net worth of almost $700K, making them some of the richest in the world, ahead of both the US and Hong Kong. In Switzerland, there is no capital gains tax on financial assets, although the country does have a relatively low wealth tax.

Bezos' wealth primarily stems from his Amazon ownership stake

Three decades after founding Amazon, Jeff Bezos has built a sprawling empire of business and financial interests. A chart from Visual Capitalist details his many business interests outside of Amazon, including his ownership of the Washington Post; his private aerospace company, Blue Origin; and his personal stake in companies ranging from Airbnb to Uber and Google.

Nearly half of billionaires plan to increase exposure to direct private equity investments in 2026

In a global survey administered by the Union Bank of Switzerland (UBS), 49% of billionaires plan to continue investing in companies by providing direct access to capital. However, only 37% of billionaires plan to increase their investments in private equity funds.

The largest university endowments in the US

This US News article ranks the 20 universities with the largest endowments in the United States, based on data from the 2022 fiscal year. Harvard tops the list at more than $50B, followed by Yale, Stanford, and Princeton. Check out this snapshot of how these financial resources support academic programs, research, and student aid.

America’s richest families

You could probably name a few of America's richest people, like Elon Musk or Mark Zuckerberg, for instance. But could you name the richest families in America, like the Waltons or the Mars family? Explore the list of 2024's richest families in America—and find out how they made their money—here.

Visualize the balance sheets of US banks

The US banking industry is the most profitable in the world, with loans and leases driving the lion’s share of those profits. In fact, at the end of 2022, 53% of all bank assets fell into the loan and lease category. This rich visualization makes sense of that and highlights how traditional banks operate in stark contrast from their not-for-profit credit union peers. See it here.

Warren Buffett was famously anti-tech stock during the 1990s dot-com boom

Buffett said that tech is something that Berkshire Hathaway doesn't "understand, so we don't invest in it." This philosophy led him not to invest in Yahoo or Microsoft during this time. (Some readers may experience a paywall.)

The median trust fund contains roughly $285K

That’s according to data from the US Federal Reserve. There isn’t a specific net worth that can help determine whether or not someone needs a trust—but contrary to popular belief, trust funds can be great estate planning tools, even for people who aren’t ultra-wealthy.

Visualizing the world's $261T in investable assets

Nearly half of the world's portfolio of stocks and bonds originate in the US. Roughly 1% of all investable assets are in the form of cryptocurrency.

Less than a third of wealth transfers to the second generation

Just 12% of family wealth reaches the third generation, and 3% makes it to the fourth. Family offices work to prevent that kind of attrition and ensure family fortunes are passed to the next generation.

The main bank serving Silicon Valley startups and venture capitalists collapsed in 2023

Silicon Valley Bank—the 16th largest bank in the US—served many tech startups in the area as well as many venture capitalists. The bank collapsed in 2023—in a single day, bankers took out $42B.

By 2005, Microsoft may have made as many as 12,000 millionaires

Stock options given to early employees also created four billionaires, including Bill Gates, who became the then-youngest self-made billionaire at the age of 31. As of 2025, Microsoft employs about 228,000 employees, including more than 50,000 at its headquarters in Redmond, Washington.

Eleven of modern history's greatest investors

The greatest investors have all made a fortune off of their success and, in many cases, have helped millions of others achieve similar returns. Read about the lives and approaches of Carl Icahn, Warren Buffett, George Soros, and more.

Despite earning less than most tech workers, educators have one of the highest rates of homeownership

Annual income largely determines homeownership. In the US, 72% of people in management roles own a home, but educators, who on average earn much less than those working in business, have the second-highest rate of homeownership.

The 25 biggest IPOs in US history

These 25 companies—which include UPS, Uber Technologies, AT&T, and The Kraft Heinz Co.—had some of the biggest IPO drops in US history. However, not all these drops led to long-term (or even immediate) success.

SoftBank lost billions of dollars on WeWork. Meanwhile, WeWork’s founder walked away a billionaire

In the years leading up to WeWork’s bankruptcy, the tech holding company SoftBank invested roughly $16B into the company.

The fintech industry was worth roughly $340B as of 2025

Venture capitalists have been bullish on the industry’s future in recent years, too. Some estimate that global investment in fintech increased by 12,000% between 2008 and 2020.

American CEOs getting super rich has a lot to do with stock buybacks

In 1965, the pay gap between American CEOs and their workers was roughly 15-to-1. But by 2018, that ratio had ballooned to 220-to-1.

Three AI startup founders broke the record for the youngest self-made billionaire previously set by Mark Zuckerberg

Mark Zuckerberg became the youngest self-made billionaire in 2006 at 23 years old when Facebook held its initial public offering. In January of 2026, three AI startup founders—Brendan Foody, Adarsh Hiremath, and Surya Midha—broke Zuckerberg's record and became billionaires at 22 years old.

PayPal's Peter Thiel turned his Roth IRA into $5B

In 1999, tech titan Peter Thiel had a Roth IRA with roughly $2K in it. By 2019, that tax-free account was worth $5B. For context, the average Roth IRA was worth roughly $39K at the end of 2018. Naturally, Thiel had a few investment options that the average person probably doesn’t have access to—but the story of his IRA’s boom is nonetheless fascinating.

Silicon Valley’s reign over tech, money, and politics

Tesla and X CEO Elon Musk, OpenAI CEO Sam Altman, LinkedIn founder Reid Hoffman, and others are getting into politics. From Musk’s role in President Trump’s second term to Hoffman’s spending on former Vice President Harris’ presidential campaign, more tech CEOs are expanding into politics. This podcast episode by WBUR and American Public Media discusses what the impact could be with so many tech figures engaging in American politics. Listen here.

Watch this video to find out how Taylor Swift became a billionaire from her musical empire

The news that Taylor Swift's wildly successful Eras Tour had made her a billionaire came out in October 2023. While most billionaires in the music industry use their fame as a foundation for other business ventures outside the industry (think: billionaire singer-songwriter Rihanna's Fenty Beauty makeup line), Swift has earned her wealth almost exclusively through music.

Who are America's highest-paid CEOs?

As of 2024, Apple's Tim Cook, Starbucks' Brian Niccol, and Microsoft's Satya Nadella were among America's highest-paid CEOs, each making tens of millions of dollars per year.

In 1931-32, JP Morgan Jr. paid no income taxes due to his company’s losses

This legally reduced his taxable income under existing laws. Similarly, the Rockefellers leveraged charitable foundations to minimize taxes, allowing them to preserve wealth while directing funds to their preferred causes.

The venture capital mindset is shaping the US into a 'portfolio state'

For decades, the US has operated as a low-regulation, private-sector-driven, globalized economy (also known as neoliberalism). In recent years, the Trump administration has taken direct stakes (rather than providing subsidies) in private companies with strategic products like semiconductors and rare earths. This paper argues the approach allows the US to capture the upside of growth.

Addressing psychological barriers to building wealth

Almost half of adults in the US report owning no investable assets. For many, the barrier to entry is the belief that investing is too complex for them to get involved. Consulting with a financial psychologist, this article addresses the cognitive bias that causes so many people to miss out on financial opportunities, and offers tips on how to get past the anxieties and just begin.

Even high earners are living paycheck to paycheck

While roughly 14% of American households make $200K or more per year, many of them still don't feel rich. For instance, more than 60% of people with salaries over $300K per year still struggle with credit card debt.

Many dot-com companies spent some investor money on expensive parties

Parties hosted by dot-com companies were known to be extravagant and expensive. Technology companies in the Bay Area hosted between 15 and 20 parties a week on average, which cost between $30K and $50K on average.

How John D. Rockefeller became the world's first billionaire

From a young age, John D. Rockefeller knew he was interested in business. He worked as a bookkeeper and sold candy prior to starting the business empire that would help cement the Rockefeller name in history: Standard Oil.

A group of billionaires and millionaires wants to pay more taxes

Hundreds of billionaires and millionaires have signed a letter called “Proud to Pay More,” in which they ask world leaders to tax the wealthiest individuals more than they currently do. The group, which includes Disney heir Abigail Disney and Valerie Rockefeller, re-upped their call at the World Economic Forum in Davos this year. Learn about the “Proud to Pay More” letter in this article.

The Dow now tracks 30 major US companies across various industries

Since 1928, the DJIA has included 30 firms. Today's group spans technology, healthcare, and finance—with Apple, Microsoft, JPMorgan Chase, Pfizer, and Coca-Cola among its most recognized components.

Financial advice from America’s founding fathers

Several of America's founding fathers—Benjamin Franklin, Thomas Jefferson, and Alexander Hamilton—espoused various financial platitudes during their lives. According to the financial publication Kiplinger, much of their advice holds up in modern times. This article rounds up a few wise words from the founding fathers (and even one first lady) about compound interest, taxes, and education. For money-management tips from America's early days, click here.

As technology evolved, so did Wall Street

Before the telephone was invented in the mid 1800s, people had to trade stocks in person. But once office telephones and computers became commonplace, banks and other financial institutions didn't necessarily need to have their headquarters near exchanges like Wall Street's New York Stock Exchange.

Individual income taxes are the federal government's primary revenue source, see a tracker that breaks down where the rest of the budget comes from

The US government historically makes nearly half of its total revenue last year from individual income taxes. But the US makes also makes money from a variety of other sources, including Medicare taxes and corporate income taxes. However, the federal government has run a deficit since 2001—reaching a peak of $3.13T in 2020.

Some billionaires invest in extreme home upgrades for their estates

Car elevators, spas, movie theaters, bowling alleys, nightclubs, and panic rooms are just some of the lavish upgrades the 1% builds in their homes.

The United States currently ranks number one for countries that enable the most financial secrecy

Financial secrecy refers to complex systems that make it easy for people and companies to hide assets. High levels of financial secrecy are associated with illegal activity, like drug trafficking and money laundering. Lax regulations around reporting who owns trusts, real estate, and businesses impact the United States' global financial secrecy ranking.

Nearly 3 million people fly in and out of US airports every day

However, not all of those passengers generate revenue for the airlines they purchase their tickets from. One business class traveler typically pays for five to six economy travelers. That's partly because airlines measure profit by the square foot, and although a business class seat is usually roughly 30% roomier than economy seats, the business class traveler usually pays about three times as much as someone sitting in economy.

Ray Dalio argues that American capitalism is broken, citing economic factors like a growing wealth divide

Dalio also points to stalling income growth, weak healthcare systems, and poor educational outcomes when arguing that American capitalism needs serious reform. However, critics point out that Dalio has amassed a large fortune by running the world's largest hedge fund and question whether Dalio really wants economic reform.