Forbes' 400 Richest Americans Call California Home

Story courtesy of California Watch.

By Agustin Armendariz

The Golden State boasts the most billionaires living within its borders among all U.S. states, according to calculations by Forbes to determine the 400 richest Americans.

Of course, if you control for population, Wyoming, Montana, New York, Connecticut and Nevada all have a higher per-capita concentration of billionaires. But California has a couple of billionaires for every million people living in the state.

Oracle co-founder and CEO Larry Ellison is the richest Californian, with a net worth of $33 billion, and the third-richest American behind Bill Gates ($59 billion) and Warren Buffett ($39 billion).

The vast majority of California's billionaires are older than 50, but two are still in their 20s and work at Facebook. With a net worth of $17.5 billion, 27-year-old Facebook founder and CEO Mark Zuckerberg is the second-richest Californian and 14th-richest American, according to Forbes. Facebook co-founder Dustin Moskovitz is also 27, and Forbes estimates his net worth at $3.5 billion.

Googlers Larry Page and Sergey Brin are both 38, among the youngest billionaires, and rank just behind Zuckerberg. They are tied for third-richest Californian and 15th-richest American.

Nationwide, eight out of every nine billionaires on the list is older than 50. For the full list, visit www.forbes.com/forbes-400.

Agustin Armendariz is an investigative reporter for California Watch, a project of the non-profit Center for Investigative reporting. Find more California Watch stories here.

Comments

[jgreen3947]

10:45 AM on 10/01/2011

yes, billionares can afford to stay. They don't do much business here though.

[jgreen3947]

10:40 AM on 10/01/2011

The second paragragh disputes the headline. Typical weirdness from leftist propagandists. And since they h8 the rich, why do they care.

[peacekitten]

07:15 PM on 09/30/2011

all the right can do when faced with the truth of this list is fumpher for any wild, outrageous excuse they can. the fact is, these people CHOOSE to live in california, and it's where they made their fortunes. ALL of them have the odious words "self made" in their descriptions. considering they can live anywhere they want, i don't see ANY of these people stampeding out of california, liberal heII that it is. oh, the humanity. and i'm LMAO at the jealousy, ins.anity, and just plain sckness of the right, when faced with such truths.

[luvobama]

07:30 PM on 09/30/2011

California is the best state to live in.  Duh.

Hawaii is a close second.  I have no desire to venture past the Rockies, other than to New York and some of the east coast states.

Middle America and the southern swamp people states, hold no interest for me.  I am a bit spoiled in that I was born and raised just north of San Francisco.  We have it all.  The ocean, lakes, rivers mountains, metropolitan SF, Lake Tahoe..... And some of the best food and wine you could ask for.

[RussT]

06:55 PM on 09/30/2011

California is a state run and ruled by libs. Thanks to out of control taxes, only billionaires can afford to live in California.

[peacekitten]

07:12 PM on 09/30/2011

your masters must LOVE you.

[luvobama]

07:32 PM on 09/30/2011

I am not a billionaire.  Nor are my parents, siblings in laws etc.

You paint with a mighty broad brush.  Have you ever been to CA?

And please share with us, what fabulous state you come from.

[bokane1]

05:39 PM on 09/30/2011

can lefties ever tell the truth or face reality
check out this article about business leaving California, leaving in spite of all the natural wonders California has to offer
http://foxandhoundsdaily.com/blog/joseph-vranich/7861-california-business-exodus-now-triple-last-years-rate

[luvobama]

07:33 PM on 09/30/2011

Your sources leave a lot to be desired.  I wouldn't click for the world....

[jgreen3947]

10:43 AM on 10/01/2011

no they can't so they write weird articles and pretend.

[jgreen3947]

05:26 PM on 09/30/2011

Lot's of companies do there research and administration in cal and manufacture elsewhere.

[jgreen3947]

05:22 PM on 09/30/2011

The cal govt makes it an expensive place to live. But if you can pay to stay, or get on the dole it's a great place. If you are commuting 50 miles and never seem to get ahead, you may want move to a lower cost of living state to establish savings.

[PedroLeon]

12:51 PM on 09/30/2011

These guys are great assets to our state. We need more entrepreneurs like them; men and women who live here, pay taxes here and employ thousands of Californians.

[onionboy]

01:21 PM on 09/30/2011

Just because they live in California doesn't mean that this is where they employ people. Apple is a good example, but it's the same with most of those on the list. Geffen might be the only exception. Where they choose to reside says nothing anymore (once was true) about what state or country they choose to do business. Business is global. There's no such thing as a California company or even an American company. Apple, not pick on them, but they're a perfect example, has been steadily moving their workforce (percentage-wise) out of the country for about 20 years.

[PedroLeon]

03:21 PM on 09/30/2011

No, actually all of their companies, and many other tech and entertainment companies, do employ thousands of Californians. Check Santa Clara, San Mateo and San Francisco counties. http://www.labormarketinfo.edd.ca.gov/majorer/MajorER.asp

Obviously these tech companies also employ (many more?) foreign workers in cheap labor markets too, but it isn't a zero sum game.

[peacekitten]

07:17 PM on 09/30/2011

my nephew works for google, and does VERY well.

i do wish apple would move its manufacturing back to this country from china.  it's sitting on $76 billion in CASH, and it's not like they can't afford it.

[DavidATolucaLake]

01:10 AM on 09/30/2011

Ireland has low tax rates, they are broke.

Germany has high tax rates they are the strongest in Europe.

Taxes are not the end all determinant of wealth production. FACT.

Corps are ALREADY sitting on historic levels of cash, and they STILL are not hiring. If you cut their rates, they will only accumulate more cash. There is ZERO correlation that cutting tax rates will create jobs. Cutting taxes simply gives them more cash, which is WHAT THEY HAVE ALREADY and are not hiring. How stupid are you Republican voters??

[jgreen3947]

05:24 PM on 09/30/2011

lol.. seems things never change.

[peacekitten]

07:18 PM on 09/30/2011

i think your question is self-answering.

there's no limit to their stvpidity.

[DavidATolucaLake]

01:06 AM on 09/30/2011

Exactly what Warren Buffet has been saying.

Billionares are not held back by taxes. Yet Republicans want to cut their rates even more.

[random21]

11:53 PM on 09/29/2011

All are 'self-made'...speaks volumes about California!!

[independendy]

11:36 PM on 09/29/2011

California is a great state.

Here is California, billionaires love it. We take care of our poor even though red states will call us socialists and communists because we do so.

Business go to texmess because they know that texmessans want to work for minimum wage an no benefits and texmess hates_education and texmess executes_innocent people and texmess defunds_firefitghters_prays for rain during droughts and firefighters have to pay for their own fuel if their is a huge fire.

[peacekitten]

07:20 PM on 09/30/2011

texans don't want to work for minimum wage.  nobody does.

it's all that's left to them after their education system has been gutted and destroyed by right wing rule for over ten years.

there's been a concerted effort to destroy that state, and sadly, it's working.

[RButler]

10:06 PM on 09/29/2011

This cannot be true. California tea party republicans keep telling us that California's high taxes and regulations and unions and.....and.....and......................have chased away the rich

[Edward Wilkes]

09:12 AM on 10/01/2011

It's the average American that's taxed to death. It's the Rich that will be laughing when we take our last breath.

[Jose 58]

09:21 PM on 09/29/2011

No matter how much you have the body continues to decline. Then, it's meet your maker. Hope they can explain themselves.

[King Nine]

08:50 PM on 09/29/2011

out here,we're called the 11%ers.....best move I ever made was moving out of California. 40 years was enough. no desire at all to go back

[RButler]

10:07 PM on 09/29/2011

And, where do you now liive, Bora, Bora?

[slocomgp]

10:16 AM on 09/30/2011

:)

[peacekitten]

07:20 PM on 09/30/2011

and we haven't missed you a bit.