The Koch brothers have fallen two spots on the Forbes 400 list of wealthiest Americans.
Charles Koch, the CEO of Wichita-based Koch Industries, and his younger brother, David, a Koch executive vice president who lives in New York, share the No. 7 spot, with a net worth of $42 billion apiece.
They had ranked No. 5 in 2015. The spoilers? Mark Zuckerberg, the cofounder, chairman and CEO of Facebook; and Michael Bloomberg, the former New York mayor, moved up to the No. 4 and No. 6 spots, respectively, with fortunes of $55.5 billion and $45 billion.
The spoilers? Mark Zuckerberg, the cofounder, chairman and CEO of Facebook; and Michael Bloomberg, the former New York mayor.
In another upset, Amazon CEO and Washington Post owner Jeff Bezos knocked investor Warren Buffett out of the No. 2 spot, with a net worth of $67 billion. Buffett, the CEO of Berkshire Hathaway, now ranks third, with $65.5 billion.
Philanthropist Bill Gates keeps his No. 1 spot, with $81 billion.
The Kochs still outrank Google cofounders Larry Page and Sergey Brin, No. 9 and 10 on the Forbes list, with fortunes of $38.5 billion and $37.5 billion.
$42 billion Net worth of Charles and David Koch, apiece
Another notable downgrade: Republican presidential nominee Donald Trump fell to No. 156 from No. 121, with a net worth of $3.7 billion, down $800 million from 2015. Forbes pegged Trump’s loss of financial stature to a softening real-estate market in New York.
Besides Charles Koch, the only other Kansan on the Forbes list is Min Kao, the chairman and CEO of Garmin, who ranks at No 246, with $2.7 billion. Garmin, which makes GPS-based navigation devices, is headquartered in Olathe, Kansas.
Curtis Tate: 202-383-6018, @tatecurtis
Forbes Top 10
1. Bill Gates
2. Jeff Bezos
3. Warren Buffett
4. Mark Zuckerberg
5. Larry Ellison
6. Michael Bloomberg
7. Charles Koch
7. David Koch
9. Larry Page
10. Sergey Brin