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T. Denny Sanford has been dropped from the latest edition of the Forbes 400 list of the richest people in the United States.
Last year, the 86-year-old businessman was ranked 340th. Sanford’s net worth has dropped from his $3.4 billion last year to his $2 billion. According to Forbes, he is currently ranked number 1,388 in the world. Sanford signed his Giving Pledge in 2010, professing to “die penniless” and donating the majority of his fortune.
And he’s not the only billionaire to lose money this year. Sanford was one of his 41 members to miss the latest edition of the 2021 Forbes 400 list.
The Forbes 400 has lost $500 billion in assets beyond 2021 this year due to a sharp rise in inflation and a market downturn. It’s the first time since the Great Recession that “the ultra-rich didn’t get richer,” Forbes said. In the case of Sanford, some large donations also contributed to the decline.
Just over a year ago, Sanford announced a $350 million donation to Sanford Health Virtual Care. According to previous reports, it expanded Sanford Health’s efforts in hard-to-reach rural areas by creating telemedicine care centers and expanding its virtual network. From the leader of Argus.
In September, Sanford pledged $150 million to the University of California, San Diego to expand its stem-cell research with a focus on space-based stem-cell science, according to The Chronicle of Philanthropy.
According to Forbes, Sanford has donated nearly $2 billion to charity. Sanford has donated approximately $1.5 billion to Sanford Health since making his first donation over a decade ago. There are currently no South Dakota residents on the Forbes 400.
Elon Musk, co-founder of Tesla, SpaceX and The Boring Company, was named the richest American on the Forbes 400 with a net worth of $251 billion, followed by Amazon’s Jeff Bezos with $151 billion. rice field. Bill Gates came in third on his list with a net worth of $106 billion. The minimum net worth to enter the Top 400 has decreased by $200 million to $2.7 billion.
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