From a sports superstar to savvy investors, these are the new additions to the Forbes 400.
It takes more wealth than ever to make the Forbes 400’s cutoff. The minimum net worth required to be included in the list is now $2.9 billion. Despite this, 18 people managed to earn a spot in the elite list for the first time.
NBA superstar Michael Jordan makes history as the first pro athlete ever to join the list. Over his basketball career, he earned around $90 million. But it was his business deals off the court that launched him to billionaire status.
For decades, Jordan has been receiving a cut of every Nike sneaker, shirt, or sock with his name and likeness. In this year alone, this brought him an estimated $260 million. In August, the athlete also sold a majority stake in the NBA team the Charlotte Hornets at a $3 billion valuation.
The wealthiest newcomer in the list is Elisabeth DeLuca and her family. The 76 year old is the widow of Subway co-founder Fred DeLuca. Upon his passing in 2015, she inherited half of the popular sandwich company. Also in August, Roark Capital bought the chain in a deal reportedly worth around $9 billion.
Meanwhile, the youngest addition to the list is 38-year-old Josh Kushner. He’s the son of real estate developer Charles Kushner, brother-in-law of Ivanka Trump, and husband of supermodel Karlie Kloss.
His firm Thrive Capital, which he founded in 2010 at age 25, was an early backer of startups like Instagram, Spotify, and Slack. He has an estimated net worth of $3.6 billion. According to Forbes, seven of the newcomers are from “the world of finance and investments, the most of any industry.”
Banner image via Instagram @karliekloss.