Rockefeller became America’s first billionaire over a century ago. Here’s what to know about America’s wealthiest today.

On Sept. 29, 1916, it was front page news {that a} surge in Customary Oil’s inventory value probably made oil tycoon John D. Rockefeller America’s first billionaire. 

Greater than a century later, america is dwelling to lots of of billionaires whose fortunes more and more come from know-how and monetary markets. Collectively, they management a rising share of the nation’s wealth — approaching the share held by Gilded Age industrialists who constructed monopolies in railroads, oil and metal. 

Here is what analysis tells us about America’s billionaire class immediately.

American billionaires quantity over 900, in response to researchers 

There are a couple of completely different estimates of the variety of American billionaires, however researchers are likely to agree that the billionaire class exceeds 900 and is rising.

Forbes, which has produced a listing of billionaires because the Nineteen Eighties, counted roughly 900 in early 2025 — up from 813 in 2024.

In the meantime, the wealth-data agency Altrata pinned the variety of U.S. billionaires at 1,135 in 2024, an uptick from 1,050 in 2023 and up greater than 80% from ranges in 2016, once they started releasing yearly studies.

And JP Morgan Chase Personal Financial institution estimated the quantity at roughly 1,990 in 2024 — about 15% greater than its 2023 estimate.

A part of the explanation estimates vary is that the ultra-wealthy should not required or incentivized to reveal their web price. The SEC requires buyers to report possession of greater than 5% of an organization’s shares, however valuations fluctuate with the market, complicating wealth estimates.

Adjusted for inflation, the variety of billionaires with a Rockefeller-sized fortune is a a lot smaller set. 

His $1 billion in 1916 could be price roughly $30 billion today. By that measure, solely about 30 American billionaires have an analogous fortune, in response to Forbes and Bloomberg. Amongst them are Oracle founder Larry Ellison and Tesla founder Elon Musk, with web worths above $300 billion. Different tech titans additionally prime the listing, together with Meta CEO Mark Zuckerberg and Amazon founder Jeff Bezos — each with fortunes of over $200 billion every, as of Sept. 29. 

Christopher Nichols, a professor of historical past at Ohio State College stated, “The billionaires of the Gilded Age and the multimillionaires had been concerned in what we consider as blue chip industries, the place there are many jobs and stuff produced. The billionaires of immediately’s world are principally working in tech sectors and locations that fairly often do not make use of many individuals.” 

Billionaires have roughly $6.8 trillion in wealth in 2025

Collectively, America’s billionaires had an approximate complete web price of $6.8 trillion within the spring of 2025, Forbes estimates, which is a leap of greater than a trillion in comparison with final yr after a robust yr of growth for U.S. stocks in 2024.

Within the twentieth century, Scottish journalist B.C. Forbes, who based the eponymous journal, wrote that if Rockefeller’s wealth “could possibly be become money and distributed equally—which it could not—[it] would give each man, lady and little one in america $10 every.” 

At this time, if that estimated $6.8 trillion held by U.S. billionaires could possibly be become money and divided equally amongst roughly 340 million People, it could quantity to about $20,000 per individual. 

One other approach to consider that sum is that it may theoretically be used to buy every NFL team, repay People’ student loan and medical debt and buy 9 million properties on the present median sales price, with lots of of billions left over.

The extremely wealthy personal an more and more massive share of the nation’s wealth

Knowledge from the World Inequality Database exhibits that the share of wealth held by the highest 1% and the ultra-rich prime 0.001% has been rising for many years — towards the report ranges noticed within the Gilded Age.

The share of the nationwide wealth held by the highest 1% peaked at almost 50% in 1929 earlier than tumbling through the Nice Despair, in response to the information.

“What occurred with the Nice Despair was that enormous fortunes had been misplaced within the inventory market. After which the New Deal rebuilt the financial system round employees and round small companies,” stated Jeremi Suri, a professor of historical past and public affairs at College of Texas.

However within the early Nineteen Eighties, the highest 1% started regaining floor, as union jobs declined and conventional industries like manufacturing shrunk, in response to Suri.  

By 2023 the highest 1%, or these with over $4.6 million in belongings, managed greater than a 3rd of the nation’s wealth — up over 10 share factors from 1980. 

Knowledge collected by the identical researchers exhibits that the trendline seems to be comparable for these within the prime 0.001% of individuals within the nation — or those that owned greater than $1.5 billion in 2023.

The lots of of billionaires on this class owned about 1% of the nation’s web wealth in 1980 and 5% in 2023.

Most billionaires are males with self-made fortunes, however a major quantity inherited their cash

Demographically, the billionaire class nonetheless resembles J.D. Rockefeller in some ways.

The overwhelming majority of the world’s billionaires are males — about 86.5% in 2025, in response to Forbes — and most make moderately than inherit their wealth. 

Rockefeller himself was the son of a touring salesman and a housewife. Whereas his household helped him launch his profession, Rockefeller constructed nearly all of his fortune on his personal, in response to Nichols, an editor of “A Companion to the Gilded Age and Progressive Period.”

“He got here from sufficient center class wealth that he may get a mortgage from his dad to start out that enterprise, which so usually is the story for enterprise people,” Nichols stated. “However he made his billions by his enterprise acumen and laborious work, after which additionally his ruthless competitiveness in an under-regulated time.”

Analysis suggests inheritance performs a major function for a lot of rich folks immediately. Roughly 30% of the world’s billionaires have inherited their fortunes, in response to a 2024 report by UBS, a wealth administration firm in Sweden. And the share within the U.S. is a few third, in response to a Wall Road Journal evaluation of Altrata knowledge.

A few of America’s wealthiest heirs embrace Walmart’s Alice, Rob and Jim Walton, and Jacqueline Mars, who owns roughly one third of the sweet large Mars based by her grandfather. 

Rockefeller and his son gave away a major quantity of their cash to charity however it continues to dwell on. And descendants of the household share a fortune valued round $10.3 billion in 2024.