46 Florida billionaires made Forbes 400 list, but Trump wasn't one of them
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The annual Forbes 400 list of the richest people in the world for 2023 is out, and several familiar Florida residents are on it once again. This year, former president Donald Trump is not one of them.
Tesla and SpaceX CEO Elon Musk is still on top, with an estimated net worth of $251 billion, well ahead of No. 2 (Jeff Bezos, $161 billion) and No. 3 Larry Ellison ($158 billion).
For the most part, the rich got richer with nearly every Florida billionaire showing a rise in their net worth, sometimes dramatically so.
New to the list at No. 379 with a net worth of $3 billion is Jupiter resident and former NBA superstar Michael Jordan. Jordan, NASCAR team co-owner and owner of a minority stake in the Charlotte Hornets. Jacksonville Jaguars owner Shad Kahn ranked 55th, with a net worth of $12.2 billion.
Trump, who shared a spot on the very first Forbes 400 list with his father in 1982, dropped off this year after his fortune fell 19% to $2.6 billion, according to the magazine. You must be worth at least $2.9 billion to make the list, which is also why the still-anonymous winner of the recently claimed $1.58 billion Mega Millions ticket won't be showing up there.
Trump previously fell off the list in 1990, built his way back up to a "legitimate spot" in 1996 and stayed there until 2021 when he fell off again. His stake in Trump Media & Technology got him back on last year. The former president and leading potential GOP presidential candidate is currently on trial in New York for bank fraud and has already been found guilty of inflating the value of his properties to secure massive loans.
Perennial Forbes 400 lister Julia Koch, who, with her three children, moved up two slots to No. 15 this year with a net worth of $59.8 billion. But she was listed by her residence in New York and was absent from the Florida billionaires.
In all, 46 Florida billionaires made the Forbes 400 list, down from 48 in 2022. Here are the top ten.
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No. 22 Ken Griffin
Net worth: $35.4 billion
Age: 54
Source: Hedge funds
Ken Griffin, the largest landowner in Palm Beach, is the founder of investment and securities firm Citadel, with more than $60 billion in assets, according to Forbes. Griffin, who has deep Florida roots, recently moved Citadel and his family from Chicago to Miami.
Like many others on the list, his net worth has soared in recent years, and Griffin's wealth doubled since 2021 when it was an estimated $16 billion, but he slid slightly from last year's 21st place.
No. 27 Thomas Peterffy
Net worth: $29.7 billion
Age: 79
Source: Discount brokerage
Hungarian-born Peterffy arrived in the U.S. speaking no English, but he used his programming skills to pioneer electronic trading on Wall Street. Peterffy, a Palm Beach resident, founded the brokerage firm Interactive Brokers Group.
Peterffy also saw great gains in recent years, from a net worth of $20 billion in 2021 to $29.7 billion this year, moving him up from last year's 31st place.
No. 35 David Tepper
Net worth: $20.6 billion
Age: 66
Source: Hedge funds
"Arguably the greatest hedge fund manager of his generation," according to Forbes, Tepper founded Appaloosa Management in 1993.
Tepper's net worth has risen steadily since 2020, when he was worth $13 billion. This year he's down from his 33rd place in 2022.
No. 55 Shahid Khan
Net worth: $12.2 billion
Age: 73
Source: Auto parts
Khan may be best known in Florida as the owner of the Jacksonville Jaguars, but he made his money as an auto parts tycoon. Khan is a Pakistani immigrant who arrived in the U.S. when he was 16 years old and washed dishes to work his way through college to become an engineer. He designed a one-piece truck bumper, and now his privately-owned company Flex-N-Gate has 69 plants worldwide and employs more than 26,000 people, according to Forbes in April.
No. 92 J. Christopher Reyes, Jude Reyes (tied)
Net worth: $9 billion
Age: 69, 68
Source: Food distribution
Chris Reyes and his brother Jude co-chair Reyes Holdings, the largest beer distributor in the U.S. with $35 billion of annual sales, according to Forbes. Reyes also owns two Coca-Cola bottlers and distributors.
The Reyes brothers dropped in 2021 to $5.5 billion, moved up to $7 billion in 2022 and continued up to $9 billion this year.
No. 99 Orlando Bravo
Net worth: $8.7 billion
Age: 53
Source: Private equity
The man Forbes called "Wall Street's hottest dealmaker" is the first Puerto Rican-born billionaire. In 2008, Bravo and his partner Carl Thoma formed private equity firm Thoma Bravo, which was ranked in 2019 as the world's top buyout investor, Forbes said. In 2021, Bravo bought musician Phil Collins' waterfront Miami Beach estate.
Bravo's net worth has shot up from $3 billion in 2019 to $8.7 this year. Forbes said.
No. 107 Elizabeth DeLuca and family
Net worth: $8.2 billion
Age: 76
Source: Subway
DeLuca, the widow of Subway cofounder Fred DeLuca, inherited half the company on his death in 2015. In August, a private equity firm struck a deal to buy the sandwich company for more than $9 billion.
This marks her first year on the Forbes 400 list and she was the richest of all the newcomers.
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No. 108 Paul Tudor Jones, II
Net worth: $8.1 billion
Age: 69
Source: Hedge funds
Palm Beach resident Jones, who got his start as a journalist for his father's small business paper, the Memphis Daily News before trading bales of cotton on the New York Cotton Exchange, founded hedge fund investment company Tudor Investment Corporation in 1980, according to Forbes.
Hedge funds have been good to Jones, sending his wealth shooting up from $4.5 billion in 2018 to nearly double that this year.
No. 119 Igor Olenicoff
Net worth: $7.7 billion
Age: 81
Source: Real estate
Lighthouse Point resident Olenicoff was originally an Iranian immigrant who moved here at age 15 and went into real estate. Now Olen Properties owns 8 million square feet of office space and 17,000 residential units in eight U.S. states, Forbes said, including 13 apartment complexes in Florida.
How does Forbes rank the richest people in the U.S.?
Forbes said its estimates on net worth were calculated by talking to Forbes 400 members whenever possible, interviewing with employees, asset managers, financial advisors and attorneys, and examining documents from the Securities and Exchange Commission, court filings, probate records and news articles. All assets are included and they factor in debt and charitable giving. Net worths for the 2023 Forbes 400 list are as of September 8, 2023, the magazine said.
Editor's note: The top Florida spot went to Ken Griffin, whose name has been corrected.
This article originally appeared on The Daytona Beach News-Journal: Forbes 400: Here are the top ten richest people in Florida; Trump drops off
