Wealth begets wealth. The richest in America are getting richer.
On Tuesday, Forbes released its 36th annual list of the 400 Richest Americans, and there were 169 billionaires who did not make the cut. That was a record number, according to Forbes.
Billionaires who did not make the list include Facebook Chief Operating Officer Sheryl Sandberg, who is worth $1.6 billion according to Forbes, and the activist investor Nelson Peltz, who is worth $1.7 billion.
No individual on the list of the 400 Richest Americans had a net worth of less than $2 billion. That is up from the $1.7 billion necessary to make the cut for the 2016 list and a record threshold.
The average net worth of an individual on the list was $6.7 billion, up from $6 billion the year prior.