This morning, Forbes Magazine published its 39th edition of the Forbes 400, the heaviest hitters (by net worth) in the country. The rich have never been so rich, with a collective net worth valued in late July of $3.2 trillion, up $240 billion in a year.
But the Las Vegas contingent isn’t doing so well. Once numbering as high as nine entries, the Las Vegas roster is down to four. One fell off this year, while most of the others saw their fortunes decline.
The latest to drop: Elaine Wynn, 78. Last year, she was ranked tied for No. 388 with a net worth of $2.1 billion. Then came coronavirus, which knocked 68% off the value of shares of Wynn Resorts, which she co-founded with (twice) ex-husband Steve Wynn and remains the largest shareholder of. Forbes values her down $400 million at $1.7 billion. That’s not chump change, but it’s $400 million below the $2.1 billion cutoff for this year’s list.
Her departure from the Forbes 400 leaves the following Las Vegans:
—Sheldon Adelson, 87. The net worth of Nevada’s richest man (Las Vegas Sands Corp., Las Vegas Review-Journal) is put at $29.8 billion, down 5% from last year, also due to coronavirus impact on his resort properties. His ranking dropped two clicks to No. 19. But he’s still worth more than double the net worth of the other Las Vegans left on the list–combined.
—Nancy Walton Laurie, 69, of the Walmart Walton family. Alone among the Las Vegas continent, the net worth of Nevada’s richest woman grew $800 million to $7.5 billion, good enough for No. 69, better than No. 85.
—Steve Wynn, 78, fallen casino visionary and owner, who cashed out his entire Wynn Resorts holding after scandal drove him from the CEO’s chair. His net worth is put at $3 billion, down $100 million form last year. His rank is No. 278, three clicks worse than last year.
—Phil Ruffin, 85, half-owner with President Donald J. Trump in the Trump International Hotel Las Vegas and total owner of the nearby Treasure Island Resort and Casino. Coronavirus took its toll here, too. Forbes pegs his net worth at $2.3 billion, down $400 million from last year. His rank fell 40 notches to No. 359.
In case you wonder, Forbes figures the net worth of Trump, 74, at $2.5 billion, down $600 million from last year, also due largely to impact of coronavirus on his hotel, golf and resort properties. His ranking fell to No. 339, down a whopping 64 clicks. Expect some tweets.
The only other Nevadan on the list is software tycoon David Duffield, 80, who lives on Lake Tahoe in Incline Village. He is valued at $11 billion, up $300 million from last year. He is ranked No. 43, up two clicks.