GREENSBURG (TNS) — Of the 400 richest people in America, 12 billionaires are located in Pennsylvania — with three in the Pittsburgh area, according to the Forbes annual list released this week.
The list estimates Americans’ wealth as of Sept. 1. In total, the 400 are worth a record $5.4 trillion, up nearly $1 trillion from last year, Forbes reported.
Elon Musk took first place with a net worth of $244 billion.
In order to be featured, a minimum net worth of $3.3 billion is required — up $400 million since 2023, according to Forbes.
The 12 in Pennsylvania include Edward Stack, executive chairman of Coraopolis-based Dick’s Sporting Goods, Thomas Tull, 54, founder of Legendary Entertainment and owner of a minority stake in the Steelers, and Maggie Hardy, owner of 84 Lumber and Nemacolin resort, who have ties to the Pittsburgh area.
Eight of the 12 are from the Philadelphia area, the Inquirer reported.
Of the 12, Stack, 69, and Morgan, 70 are new additions to the list this year, according to Forbes. The two are among 23 new additions to the list overall, Forbes said.
Two people from the list of 12 Pennsylvanians saw their net worth decrease since last year: Rubin, 52, founder and CEO of Fanatics, and Hardy, 58.
There are 67 women featured this year on the list of 400, Forbes said, displaying the gender wealth gap. But, it’s narrowing, as women now account for 17% of the list and 15% of the total wealth — up from 15% of the list and 14% of the total wealth last year, according to Forbes.
Though they’re not living in Pennsylvania, notable Pittsburgh natives include David Tepper, 39th, with a net worth of $21.3 billion and Mark Cuban, 230th, with a net worth of $5.7 billion.
Tepper, 67, donated $55 million to Carnegie Mellon University in 2003, from which he graduated with an MBA. The business school is named after him. He was raised in Stanton Heights and received his bachelor’s degree in economics from Pitt.
The president and founder of the Appaloosa Management hedge fund, Tepper is also a former minority owner of the Pittsburgh Steelers. He now owns the Carolina Panthers.
Cuban, 66, grew up in Mount Lebanon and made his fortune with the sale of broadcast.com in 1999 for $5.7 billion, Forbes reports. He owns a minority stake in the NBA’s Dallas Mavericks and is the founder of a company seeking to lower generic drug prices.
