Austin’s Billionaire Scene Changes: Two Drop from Forbes Top 400 List

Austin’s Billionaire Scene Shifts: Two Drop Off Forbes Top 400 List

This year, the city of Austin is seeing changes in its lineup of wealthy individuals. In the latest Forbes Top 400 Billionaires list, the number of billionaires from Austin has decreased from ten last year to only eight this year. It’s a notable drop, but the city still boasts Elon Musk as its highest-ranked billionaire.

Though Austin lost two notable billionaires this year, both remain with impressive wealth totals. Haynes Barnard, who held the 304th spot last year, and John Paul DeJoria, who was at position 379, did not make the 2024 list. Their wealth is still substantial, with Forbes estimating Barnard’s fortune at $3.3 billion and DeJoria’s at $3 billion. Interestingly, they fell short of the last two spots on this year’s list, which are both held by individuals valued at $3.3 billion.

Top Billionaire: Elon Musk

Securing the number one position on the Forbes 400 list for yet another year is Elon Musk, with a staggering wealth of $244 billion. Although his fortune saw a slight decline of about $7 billion (or 2.7%) from the previous year, Musk continues to stand out. While it remains uncertain how much time he spends in Austin, he has been relocating parts of his businesses to Central Texas, including moving his social media platform X to nearby Bastrop.

Other Notable Rankings

Austin’s second billionaire on the list is Micheal Dell, who ranks 12th with a wealth of $101 billion. Dell has consistently appeared on the top 400 list and has seen a remarkable 41% growth in his wealth this year alone. Despite this growth, he slipped one position this year.

Coming in at the 88th position is Robert Smith, founder of Vista Equity Partners, with a wealth of $10.8 billion. Smith has managed to grow his fortune by approximately 17% compared to last year, thanks in part to his firm’s strong performance.

Joe Gebbia, co-founder of Airbnb, is new to the Austin billionaire list. His wealth dropped from $8.9 billion to $7.5 billion, placing him at rank 158. He is currently involved in a project focusing on tiny houses and accessory dwellings through his company Samara.

Another rising star is Thai Lee, who has seen impressive growth this year. The CEO of SHI International jumped the most on the top 400 list, from 204th last year to 169th this year, with a wealth increase of 32%, amounting to $7 billion.

Other Billionaires from Austin

• Joe Liemandt – Ranked 210th with $6.2 billion, he is known for founding ESW Capital, an investment firm focused on software companies.
• Bert Beveridge – Known for his Tito’s Handmade Vodka brand, he fell from 140th to 230th this year, with his wealth decreasing to $5.7 billion.
• Drayton McLane Jr. – Ranked 359th, he has a wealth of $3.7 billion, primarily from his success in logistics.

Austin still holds its position as a notable city in the billionaire landscape despite the recent shake-up in rankings. The changing roster of billionaires highlights the dynamic nature of wealth and business in the city.