Johnny Morris shoots up Forbes 400, among 100 richest Americans
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Bass Pro Shops founder and richest Missourian Johnny Morris grew his wealth in the past year to join the 100 wealthiest Americans in the annual Forbes 400.
According to the publication's list released this week, Morris is the 96th richest American with an estimated $7.5 billion net worth. Jumping more than 30 spots in the ranking, last year he placed 134th on the list with an estimated net worth of $6.9 billion.
Almost all of Morris' wealth comes from his role as founder and CEO of Springfield-founded outdoor gear retailer Bass Pro Shops, which has $6.5 billion in annual sales according to the list.
While Morris increased his wealth by more than a half a billion, his improved fortunes on the list may be caused more so by the decreasing fortunes of other American billionaires. Amid rising inflation and falling markets, It’s the first time since the Great Recession that America’s ultrawealthy aren’t richer than the year before.
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As a group, this year’s Forbes 400 is $500 billion poorer than they were a year ago. Their total net worth stands at $4 trillion, down 11% from last year..." reads Forbes 400.
"No one has been hit harder than tech billionaires, who have lost a combined $315 billion. Still, it was a great year to be an oil-and-gas tycoon, a sports mogul or Elon Musk."
As a sports-goods retailer, it appears Morris has skated past losses seen by tech billionaires and seen his personal fortune rise greater than ever before.
The list also tracks the level of philanthropy. Despite his noted conservationism Forbes gives Morris a philanthropic score of two out of five, meaning he has donated less than 5% of his fortune to charity. But such a low score is not uncommon on the list. Only nine of the 400 richest Americans have given away more than 20%, earning them a score of five: Bill Gates, Melinda French Gates, MacKenzie Scott, Warren Buffett, George Soros, Gordon Moore, Amos Hostetter Jr., Lynn Schusterman and John Arnold.
Andrew Sullender is the local government reporter for the Springfield News-Leader. Follow him on Twitter @andrewsullender. Email tips and story ideas to asullender@gannett.com.
This article originally appeared on Springfield News-Leader: Johnny Morris skyrockets in Forbes 400, among 100 richest Americans
