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Scrooges Of The Forbes 400: America's Least Philanthropic Billionaires

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Scrooges Of The Forbes 400: America's Least Philanthropic Billionaires

Editor's note: This story has been edited to reflect an update by Forbes to Tesla CEO Elon Musk's philanthropy ranking that removed him from the list of the least generous billionaires. 

For the first time, the Forbes 400 list includes a generosity ranking.

The philanthropy rating uses a scale from one to five, with five being the most philanthropic. A precise algorithm was developed to determine the scores for individuals, according to Forbes. 

In order to calculate scores, Forbes estimated each member’s total lifetime giving, drawn from public filings such as tax forms and press releases. Once each member’s fortune was determined, Forbes researched the percent of money they'd given away. 

Billionaires like Microsoft Corporation (NASDAQ: MSFT) co-founder Bill Gates, Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett and Facebook, Inc. (NASDAQ: FB) CEO Mark Zuckerberg topped the list as the most philanthropic billionaires. The trio were also the only members to crack the top 10 in both most generous and wealthiest.

Conversely, some billionaires are better known for being more stingy with their fortunes: 

No. 5: Stanley Kroenke

Kroenke is both a real estate and sports mogul. His wife Ann Walton-Kroenke is the heiress to the Walmart founder, Sam Walton. Kroenke owns the Los Angeles Rams, the Denver Nuggets, the Colorado Avalanche, the Colorado Rapids and the Arsenal Football Club. Kroenke has a net worth of $8.5 billion and is ranked No. 58 wealthiest overall. 

No. 4: Andrew Beal

Beal is the founder and owner of Beal Financial Corp., which has assets totaling over $7 billion, according to Forbes. Beal has a net worth of $9.9 billion and is ranked No. 46 on the list overall.

No. 3: John Menard Jr.

Menard is the founder of home improvement store Menards, which earns roughly $10 billion in sales from its 300 stores. According to Forbes, Menard keeps a close eye on his business, requiring top executives to punch in and out each day. Menard has a net worth of $11 billion and is ranked No. 41 wealthiest overall.

No. 2: Lukas Walton

Walton is the grandson of Walmart Inc. (NYSE: WMT) founder Sam Walton and inherited his fortune when his father John Walton died in 2005. He owns stakes in Walmart as well as First Solar, Inc. (NASDAQ: FSLR) and Arvest Bank, but does not work for the companies. Walton has a net worth of $15.3 billion and is ranked No. 32 wealthiest overall.

No. 1: Rupert Murdoch

Murdoch controls the media empire behind Fox News, The Times of London and The Wall Street Journal. Murdoch recently agreed to sell a majority of Fox’s movie studio, National Geographic and FX, as well as stakes in Star India to Walt Disney Co (NYSE: DIS) for $71.3 billion. Murdoch has a net worth of $18 billion and was ranked No. 26 overall.

Related Links:

10 Youngest Billionaires On The Forbes 400 List

Wealth And Philanthropy: The World's 10 Richest Aren't The World's 10 Most Generous

Posted-In: Andrew Beal Beal Financial Corp. Bill Gates Forbes forbes 400 Fox NewsMedia General Best of Benzinga

 

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