Note: All photos above are listed in the order of their placement on the Forbes list.
“Champagne Wishes and Caviar Dreams”-Forbes releases its list of the World’s 2020 Billionaires
In 1994, Robin Leach coined the phrase “Champagne Wishes and Caviar Dreams,” in his television series “Lifestyles of the Rich and Famous.” Forbes Magazine releases its list each year of how the fortunes of the wealthy rise and fall. COVID-19 has played havoc with the global markets and personal wealth. In mid-March, Forbes counted 2,095 billionaires, 58 fewer than in 2019 and 226 fewer than just 12 days earlier, when their net worths were initially calculated. Of the billionaires who remain, 51% are poorer than they were last year. In raw terms, the world’s billionaires are worth $8 trillion, down $700 billion from 2019.
Jeff Bezos is still the world’s richest person with a net worth of $113 billion, even after giving away $60 billion to his ex-wife, MacKenzie Scott, who now becomes the second wealthiest woman in the world, just $4 billion behind fellow Texan and Walmart heiress Alice Walton. The world has 178 new billionaires from 20 countries this year, and women account for 241 of the total or about 11.5%. Kylie Jenner, through her cosmetics firm, becomes the youngest billionaire on Forbes’ 2020 list and the youngest self-made billionaire in its history.
Thirteen of America’s wealthiest are Houstonians. Rich & Nancy Kinder are our town’s top earners at almost $6 billion, followed by the four members of the Duncan clan. Rounding out this impressive list are, in order, restaurateur and entertainment icon Tilman Fertitta, automotive titan Dan Friedkin, Houston Texans owner Janice McNair, energy giant Jeffery Hildebrand, investor John Arnold, former Houston Rockets owner Les Alexander, investor Fayez Sarofim, and logistics mogul and Houston Astros owner Jim Crane.
Among their many accomplishments, all of our city’s well-heeled on Forbes’ list contribute much to charitable organizations and to making our city one of the best places to live in the country. Their names grace facilities in the Texas Medical Center, cultural institutions, museums, schools and universities, city and county parks and more. Their legacies will fuel education, innovation, and inspiration for generations to come.