Penn once again has the most alumni on The Forbes 400 List of wealthiest Americans — with 17 graduates — after coming in second last year, according to a Forbes report.
In order to create the list each year, Forbes calculates a ranking of the 400 richest Americans based on individually-owned assets, businesses, debt, and charitable giving. Forbes reported that the number of Penn alumni on the list increased from 14 to 17 this year, allowing the University to place in front of Harvard University and Yale University — which both had 11 graduates each.
While the total net worth of the 400 individuals on the list had an 11% decrease, 1997 College and Wharton graduate Elon Musk saw a $60.5 billion increase in his fortune, with a rise in the value of Tesla stocks and SpaceX, making him the richest person in the United States. This increase ended Princeton graduate Jeff Bezos' four years of first-place domination.
Musk's ex-girlfriend from Penn recently auctioned memorabilia from their relationship for over $165,000.
Contributors to Penn’s title reclaiming — according to Forbes — include former President and 1968 Wharton graduate Donald Trump's return to the list after a one-year absence, and the emergence on the list of the founder of D1 Capital Partners 1999 Wharton graduate Daniel Sundheim and 1974 Wharton graduate and executive chairman of C&S Wholesale Grocers Rick Cohen.
Also on the list are four members of the Lauder Family, after whom the Lauder Institute of Management and International Studies and Lauder College House are named.
1992 Wharton and College graduate Jonathan Gray, COO and president of Blackstone Inc., also made the cut. Gray, along with his wife, who is also a Penn alum, recently announced a $55 million donation to Penn’s Abramson Cancer Center to fund research.
“Both liberal arts and finance allowed me to meet all these incredible people and really created the springboard for the rest of my life,” Gray told Forbes.
1985 Wharton and College graduate Laurene Powell Jobs, investor and widow of Apple co-founder Steve Jobs, also made the list. Jobs was both a past National Advisory Board member for the Netter Center and a speaker at Penn's 2021 Commencement.
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