Money
Ranked: The Richest Veterans in America
Ranked: The Richest Veterans in America
The U.S is home to 724 billionaires, many of whom have taken on immense risks in the financial world. 16 of these wealthy individuals have also taken on the risks that come with serving in the U.S. military.
These veteran billionaires are worth a collective $81.4 billion and have served in posts ranging from Reserve Officers’ Training Corps (ROTC) to infantrymen in the Second World War. This visual, using data from Forbes, ranks the richest living American veterans.
This visual categorizes the individuals by either the military branch or war served in depending on what was applicable or determinable.
I Want You for the U.S. Army
According to the Department of Veteran’s Affairs, there are around 18 million veterans in the U.S. Of these 18 million, less than 0.01% can claim the title of billionaire.
Name | Net Worth (Billions, USD) | Industry | War / Unit Served |
---|---|---|---|
Donald Bren | $15.3 | Real Estate | Marine Corps |
Edward Johnson III | $10.3 | Finance & Investments | Army |
Ralph Lauren | $7.1 | Fashion & Retail | Army |
Richard Kinder | $7.0 | Energy | Vietnam War |
Charles Dolan & family | $6.1 | Media & Entertainment | WWII, Airforce |
Fred Smith | $5.7 | Logistics | Vietnam War, Marine Corps |
Charles B. Johnson | $4.9 | Finance & Investments | Army |
Ted Lerner & family | $4.8 | Real Estate | WWII |
Julian Robertson Jr. | $4.5 | Finance & Investments | Navy |
John Paul DeJoria | $2.7 | Fashion & Retail | Navy |
H. Ross Perot Jr. | $2.7 | Real Estate | Airforce |
Bob Parsons | $2.2 | Technology | Vietnam War, Marine Corps |
David H. Murdock | $2.1 | Food & Beverage | WWII |
S. Daniel Abraham | $2.0 | Food & Beverage | WWII, Army |
Charlie Munger | $2.0 | Finance & Investments | WWII, Army Air Corps |
George Joseph | $2.0 | Finance & Investments | WWII |
Six of the above veteran billionaires served in WWII. They are some of the last surviving veterans of the historic war which was fought by 16 million Americans—today, only around 325,000 WWII veterans are still alive.
George Joseph, of Mercury Insurance Group, piloted a B17 Bomber plane in WWII, and completed around 50 missions. Warren Buffett’s business partner at Berkshire Hathaway, Charlie Munger, served in the Army Air Corps in the early 1940s.
Richard Kinder (Kinder Morgan Inc.) and Fred Smith (FedEx) both served in the Vietnam war.
One notable figure, Ralph Lauren, whose name is synonymous with his clothing products, served in the Army branch for two years in the early 1960s.
Taking on Financial Risk
Billionaire wealth continues to grow in America. Most of these veteran billionaires saw their net worths increase from 2020 to 2021, as, typically, wealth begets wealth. Here’s a look at the changes in net worth of the top five richest veterans who experienced increases:
- Edward Johnson III: +$4.9 Billion
- Ralph Lauren: +$1.4 Billion
- Richard Kinder: +$1.8 Billion
- Charles Dolan & Family: +$1.5 Billion
- Fred Smith: +$3.0 Billion
The majority of these veteran billionaires are in the finance industry and some are tied to well-known companies, but they didn’t always have billions on hand to help them exponentially grow their fortunes.
David Murdock was a high school dropout, and after serving in WWII, had no money to his name. He took over a failing company called Dole, and eventually gained the moniker of ‘pineapple king’ after reviving the business.
S. Daniel Abraham, who was an infantryman in WWII, went on to found Thompson Medical. Their main product was Slimfast, which he later sold to Unilever for $2.3 billion in cash in the early 2000s.
Bob Parsons, who received a Purple Heart for his service in Vietnam, started out his professional career as a CPA. He later founded the enormous domain giant, Go Daddy. He has claimed that his time in the military helped him succeed in business.
Peace and Prosperity
We currently live in one of the most peaceful and prosperous times in history, with wars like WWII feeling to many like a story from the past — but for others these conflicts were defining moments for their generation.
While many veterans struggle to readjust to civilian life, on average pre-9/11 veterans have reported fewer difficulties compared to post-9/11 veterans, and some have even managed to reach the highest levels of financial success.
Money
The Richest People in the World in 2023
The world’s five richest people are worth a combined $729 billion. From luxury moguls to Asia’s rising titans, we show the richest in 2023.

The Richest People in the World in 2023
After witnessing record gains in wealth, ultra-high net worth individuals (UHNWIs) lost a combined $10 trillion last year.
A lagging stock market dented these fortunes against high interest rates, energy shocks, and economic uncertainty. But some of the world’s billionaires have flourished in this environment, posting sky-high revenues in spite of inflationary pressures.
With data from Forbes Real-Time Billionaires List, we feature a snapshot of the richest people in the world in 2023.
Luxury Mogul Takes Top Spot
The world’s richest person is France’s Bernard Arnault, the chief executive of LVMH.
With 75 brands, the luxury conglomerate owns Louis Vuitton, Christian Dior, and Tiffany. LVMH traces back to 1985, when Arnault cut his first major deal with the company by acquiring Christian Dior, a firm that was struggling with bankruptcy.
Fast-forward to today, and the company is seeing record profits despite challenging market conditions. Louis Vuitton, for instance, has doubled its sales in four years.
In the table below, we show the world’s 10 richest people with data as of February 27, 2023:
Rank | Name | Source | Net Worth Feb 2023 | Change 2022-2023 |
---|---|---|---|---|
1 | Bernard Arnault & family | LVMH | $202B | 28% |
2 | Elon Musk | Tesla, SpaceX | $191B | -13% |
3 | Jeff Bezos | Amazon | $117B | -32% |
4 | Larry Ellison | Oracle | $113B | 7% |
5 | Warren Buffett | Berkshire Hathaway | $106B | -10% |
6 | Bill Gates | Microsoft | $105B | -19% |
7 | Carlos Slim Helu & family | Telecom | $90B | 11% |
8 | Mukesh Ambani | Diversified | $84B | -8% |
9 | Steve Ballmer | Microsoft | $81B | -11% |
10 | Françoise Bettencourt Meyers & family | L'Oréal | $79B | 5% |
Elon Musk, the second-wealthiest person in the world has a net worth of $191 billion. In October, Musk took over Twitter in a $44 billion dollar deal, which has drawn criticism from investors. Many say it’s a distraction from Musk’s work with Tesla.
While Tesla shares have rebounded—after falling roughly 70% in 2022—Musk’s wealth still sits about 13% lower than in March of last year.
Third on the list is Jeff Bezos, followed by Larry Ellison. The latter of the two, who founded Oracle, owns 98% of the Hawaiian island of Lanai which he bought in 2012 for $300 million.
Fifth on the list is Warren Buffett. In his annual letter to shareholders, he discussed how Berkshire Hathaway reported record operating profits despite economic headwinds. The company outperformed the S&P 500 Index by about 22% in 2022.
How Fortunes Have Changed
Given multiple economic crosscurrents, billionaire wealth has diverged over the last year.
Since March 2022, just four of the top 10 richest in the world have seen their wealth increase. Two of these are European magnates, while Carlos Slim Helu runs the largest telecom firm in Latin America. In fact, a decade ago Slim was the richest person on the planet.
Jeff Bezos has seen his wealth decline 32%, or $54 billion, the most across the top 10 richest. Amazon posted a $2.7 billion net loss for the full year of 2022, its worst year yet.
Overall, as the tech sector saw dismal returns over the year, the top 10 tech billionaires lost almost $500 billion in combined wealth.
Recent Shakeups in Asia
Perhaps the most striking news for the world’s richest centers around Gautam Adani, formerly the richest person in Asia.
In January, Hindenburg Research, a short-selling firm, released a report claiming that the Adani Group engaged in stock manipulation and fraud. Specifically, the alleged the firm used offshore accounts to launder money, artificially boost share prices, and hide losses.
The Adani Group, which owns India’s largest ports—along with ports in Australia, Sri Lanka, and Israel—lost $100 billion in value in the span of a few weeks.
Interestingly, very few Indian mutual funds hold significant shares in Adani Group, signaling a lack of confidence across India’s market, which was also cited in Hindenburg’s report.
As a result, Mukesh Ambani has climbed to Asia’s top spot, controlling a $84 billion empire that spans from oil and gas and renewable energy to telecom. His conglomerate, Reliance Industries is the largest company by market cap in India.
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