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For the fifth straight year, Forbes ran the numbers to determine the wealthiest resident in each of the 50 states, with Bloomberg and his estimated $54.2 billion net worth tops in New York.
According to the report, 53 billionaires and centimillionaires (with wealth of $100 million or more) made the ranks - three states had ties - with a collective net worth of $875 billion, up from $832 billion last year. Overall, 60% of these business titans created their own fortunes, while 21% inherited them and 19% were handed a business but have actively expanded it.
To determine the rankings, Forbes “updates the net worths of the billionaires we are constantly tracking to make sure we have the latest figures. We then spend a significant amount of time hunting for the richest centimillionaires in the states with no billionaires. Our estimates represent a snapshot of wealth as of June 21.”
Bloomberg, 77, got his start on Wall Street in 1966 with an entry-level job at Salomon Brothers before he was fired 15 years later. He went on to cofound the Bloomberg media company in 1981 and now owns 88 percent of the business, which has revenues greater than $9 billion.
The former New York City Mayor ranked ninth on Forbes’ 2019 Billionaires List, 10th in the Forbes 400 and 51st in the 2018 Forbes Most Powerful People list.
The complete list can be found here.
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