Iowa’s richest person has a lock on the top spot; Forbes releases new list

Forbes has updated its list of the richest individuals in the U.S., revealing that nearly every state boasts at least one billionaire. The total net worth of the 54 people on the list amounts to $1.6 trillion, marking a $100 billion increase from the previous year. Notably, Iowa's wealthiest, Harry Stine, has seen his fortune grow to $9.7 billion due to his seed genetics business.

The list also highlights some shifts, such as Jeff Bezos moving to Florida, making Bill Gates the richest in Washington. Elon Musk tops the overall list with a net worth of $195 billion. Newcomers like Todd Graves and the Cathy family of Chick-fil-A also made significant gains, showcasing the profitability of the fast-food sector.

This year's Forbes report indicates that wealth continues to concentrate among the few, with billionaires present in almost every state. Despite some states losing their richest residents, the overall wealth of America's billionaires is on the rise, reflecting ongoing economic disparities.