(NEXSTAR) — You may be dealing with tariffs, a slow job market, a difficult housing market, and prices that seemingly refuse to come down, but the nation's wealthiest residents appear to be doing just fine, according to the latest Forbes 400 ranking.

Combined, the 400 wealthiest people in the U.S. are worth a record-setting $6.6 trillion, Forbes reported in its latest rankings on Tuesday. That's up $1.2 trillion over last year.

To land on the list at all this year, you need to be worth $3.8 billion — yet another record for the publication's report. Several people did just that, including Michael Jordan, who maintains a minority stake in the Charlotte Hornets, and Woody Johnson, who owns the New York Jets.

To rank within the top 10, however, you need an estimated net worth of at least $129 billion. If you want to be at the top of the list, the spot again held by Elon Musk, you'd need a net worth of more than $400 billion. According to Forbes, Musk is the first to surpass that threshold.

Behind him on the Forbes 400 sits Larry Ellison of Oracle, who surpassed Mark Zuckerberg by about $23 billion in net worth to claim the No. 2 spot and the title of wealthiest Californian.

In total, 85 California residents landed among the 400 wealthiest Americans this year, the most of any state and up from 80 over last year's rankings. New York had 57 residents on the list, while Florida had 49 and Texas had 43.

A dozen states did not have a resident on the list: Alabama, Alaska, Delaware, Idaho, Maine, Minnesota, New Mexico, North Dakota, Rhode Island, South Dakota, Vermont and West Virginia.

Who are the richest people in Tennessee?

Once again, Thomas Frist Jr. and his family rank as the wealthiest Tennesseans with a net worth of $32.4 billion.

Below is a list of the richest people in each state, as well as their net worth, according to the latest list from Forbes:

There are five fewer women on Forbes' 2025 list compared to its 2024 list. According to the report, two women fell outside the $3.8 billion net worth cutoff, while three others died.

Alice Walton, the only daughter of Walmart founder Sam Walton, remains the wealthiest woman in America, with an estimated net worth of $106 billion. She ranks as the third-wealthiest Texan, and well ahead of the next richest woman, Julia Koch of New York, by more than $20 billion.

Meanwhile, in Utah, Gail Miller was bumped from her spot as the wealthiest resident by Matthew Prince, who cofounded Cloudflare.

President Donald Trump again made the cut with an estimated net worth of $7.3 billion, up from $4.3 billion. The increase in his wealth boosted him up more than 100 spots on the Forbes 400 to 201, tied with Janice McNair, who inherited her late husband's stake in the Houston Texans, and Mark Walter, a CEO of an investment firm. Last year was Trump's first time back on the list after failing to make the cut in 2023.

According to Forbes, 26 people who made the list last year failed to do so this year. You can view the full Forbes 400 of 2025 here.

Meanwhile, there remain several billionaires — more specifically, 500, per Forbes — that are on the outside looking in at the wealthiest 400. That includes Oprah Winfrey, LeBron James, Taylor Swift and "South Park" creators Trey Parker and Matt Stone.

News Source : https://www.wkrn.com/news/tennessee-news/tn-richest-person-forbes-report-2025/