Griffin’s billionaire status rises, while Zell and Bluhm get dinged
October 4th, 2016
Forbes has released its list of the richest people in America and Chicago businessman Ken Griffin tops it among 14 Illinois residents. He’s ranked 57th with $7.5 billion net worth. That’s up from last year, when he had a net worth of $7 billion.
Bill Gates is first with an $80 billion net worth. And GOP Presidential candidate Donald Trump ranks 156th with $3.7 billion, down $800 million from last year, according to Forbes.
Trump wasn’t the only one having a bad year. Chicago real-estate moguls Sam Zell and Neil Bluhm remain on the list of richest Americans but saw their net worth dip, a sign of the challenges in real estate and an economy that’s still struggles in some areas. Zell clocked in at $4.7 billion this year, down from $4.9 billion last year. And Bluhm is listed at $3.2 billion, down from $3.5 billion.
Forbes says the country’s 400 richest Americans have a combined net worth of $2.4 trillion and an average net worth of $6 billion, “both record highs.”
The minimum net worth to be on the list is $1.7 billion, the same as it was a year ago. A record 153 billionaires didn’t make the cut, including Jerry Reinsdorf, Nicholas Pritzker II and Michael Krasny from Illinois.
Some other take-aways:
Along with being ranked the wealthiest Illinois resident, Griffin is among the top 40 self-made billionaires in the United States and he’s ranked 7th among the wealthiest American hedge fund managers.
Billionaires on the list who have businesses in Chicago but list their residences out of state include Shahid Khan, ranked 70th with a net worth of $7 billion. The owner of auto parts manufacturer Flex-N-Gate in Urbana, Ill., lives in Naples, Fla., but also has a home on the Mag Mile. Judd Reyes and Jude Reyes, the brothers who run a booze distributorship in Chicago, also count Florida as home, though they have residences here, too. Penny Pritzker, the U.S. Commerce Secretary, lists her residence as Washington, D.C., but I’ve kept her on the Illinois list since she still has a palace in Lincoln Park.
Here’s the list of the 14 Illinois residents on Forbes’ list of 400 richest Americans (by rank, name, billion-net-worth, and whether they’re up or down from last year):
57. Ken Griffin, Citadel, $7.5B, UP
117. Sam Zell, Equity Group Investments, $4.7 billion, DOWN
190. J.B. Pritzker, Pritzer Group, $3.4 billion, SAME
204. Neil Bluhm, JMB Realty/casinos, $3.2 billion, DOWN
214. Thomas Pritzker, Hyatt Hotels, $3.1 billion, UP
274. Ty Warner, Beanie Baby’s Ty, $2.5 billion, UP
290. Gigi Pritzker, $2.4 billion, OddLot Entertainment, UP
290. Penny Pritzker, government, $2.4B,
290. Patrick Ryan, Ryan Specialty Group, $2.4B, SAME
290. Mark Walter, Guggenheim Partners, $2.4B, UP
321. Joe Mansueto, Morningstar, $2.2B, SAME
335. Joseph Grendys, Koch Foods, $2.1B, UP
374. Eric Lefkofsky, Lightbank, $1.8B, MADE IT
374. Jennifer Pritzker, Tawani Enterprises. $1.8B, UP