Jay-Z, Tim Cook, Kim Kardashian: The American Billionaires Too Poor To Make The 2023 Forbes 400 List

A billion dollars can open many doors. But it won’t get you into the elite ranks of the nation’s 400 wealthiest.

_{By Gigi Zamora, Forbes Staff}

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It’s no longer enough to be a billionaire. Not even $2 billion will do. These days it takes a record-tying net worth of at least $2.9 billion to earn a spot among The Forbes 400 ranking of the nation’s wealthiest people, up from $2.7 billion last year. There are more than 350 billionaires in the U.S. who aren’t rich enough to make the grade.

That includes several famous faces. Oprah Winfrey ($2.8 billion) narrowly missed the cut for the third time in a row after having made the ranks for 25-years straight. Celebrities Jay-Z ($2.5 billion) and Kim Kardashian ($1.7 billion), the wealthiest member of her family, still don’t have enough to crack the top 400. Neither do designer Tom Ford ($2.2 billion), Tiger Woods ($1 billion) or LeBron James ($1 billion).

You also won’t find Apple CEO Tim Cook ($1.8 billion), former Facebook COO Sheryl Sandberg ($1.8 billion), CNN founder Ted Turner ($2.5 billion) or Donald Trump ($2.6 billion).

Some of these moguls might matriculate onto The Forbes 400 soon, though. Of the 11 people Forbes highlighted last year as just missing the cut and potential future listees, four ended up making it in 2023: basketball great Michael Jordan ($3 billion); James and Thomas Duff ($3 billion each), the Mississippi brothers behind Southern Tire Mart; and pipeline billionaire Ray Davis ($2.9 billion). For everyone else—well, there’s always next year.

Here are a handful of American billionaires who aren’t rich enough to make the Forbes 400 just yet, but might steal a spot on the list in the not-so-distant future

^{Net worths are as of September 8, 2023}

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Kim Kardashian

Age: 42 | Net Worth: $1.7 Billion | Source of wealth: Shapewear, Skincare

In July, the reality TV star-turned-entrepreneur’s shapewear company Skims raised $270 million, bumping its valuation from $3.2 billion to $4 billion. She also has a skincare line, SKKN, and is forging into private equity, launching SKKY Partners in 2022 with a former Carlyle Group executive. The firm is said to be raising a $1 billion fund to invest in consumer and media companies.

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Kevin Systrom

Age: 39 | Net Worth: $2 Billion | Source of wealth: Instagram

Systrom sold Instagram to Facebook for $1 billion in cash and stock in 2012. Now he’s trying his hand at another social media platform, launching text-centered app Artifact earlier this year with his Instagram cofounder, Mike Krieger. The platform uses a TikTok-like algorithm to give users a curated feed of articles and text-based posts.

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Palmer Luckey

Age: 31 | Net Worth: $1.8 Billion | Source of wealth: Virtual Reality

Luckey founded the virtual reality company Oculus VR in 2012 and sold it to Facebook in 2014 for $2 billion in cash and stock. His next venture: defense startup Anduril, which raised $1.5 billion in December 2022 at an $8.5 billion valuation.

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Kamal Ghaffarian

Age: 65 | Net Worth: $2.8 Billion | Source of wealth: Space, Energy

Ghaffarian’s nuclear reactor manufacturer, X-Energy, is set to go public via SPAC in 2023. He founded the company in 2009 and has several space ventures on the horizon as well. His Intuitive Machines is expected to launch its first lander in November and his space infrastructure developer Axiom Space’s third mission to the International Space Station is expected in 2024.

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Jayshree Ullal

Age: 62 | Net Worth: $2.8 Billion |Source of wealth: Computer Networking

Ullal’s computer networking firm Arista Networks has been consistently delivering year-over-year revenue increases since going public in 2014. The company, which she runs as CEO, brought in $4.4 billion in revenue last year, up 49% jump from 2021. The stock is up more than 1,300% since its IPO, including a 62% spike in 2023, pushing Ullal right to the cusp of The Forbes 400.

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John Ocampo

Age: 64 | Net Worth: $1.7 Billion | Source of wealth: Semiconductors

Shares of Ocampo’s semiconductor business, Macom Technology, are up 48% from last year thanks to a surge in AI and, most recently, the acquisition of the radio frequency business of one of its competitors. Ocampo has served on the company’s board since his private equity fund, Gaas Labs LLC, acquired it in 2009 and is its largest individual shareholder, with a 23% stake. Revenue has more than doubled since Ocampo took it public more than a decade ago.

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David Blitzer

Age: 54 | Net Worth: $1.9 Billion | Source of wealth: Sports

Sports teams have proven to be great investments, and the Blackstone executive owns stakes in several of them. He has minority shares of the MLB’s Cleveland Guardians and MLS’ Real Salt Lake. Also, in a partnership with Apollo Global cofounder Josh Harris, Blitzer is invested in the NBA (Philadelphia 76ers), the NHL (New Jersey Devils), the Premier League (Crystal Palace) and the NFL (Pittsburgh Steelers).

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