Elon Musk is now the richest Texan — but is he also the richest Austin resident?

Tesla Gigafactory In Texas Teased By Elon Musk

Elon Musk, the billionaire leader of Tesla and SpaceX, is now the wealthiest Texas resident, according to Forbes magazine’s annual ranking of the 400 richest Americans.

But whether or not Musk also happens to be the richest person living in Austin remains open for debate.

With an estimated net worth of $190.5 billion, Musk is the seoncd-richest Americn behind Amazon founder Jeff Bezos, who is worth an estimated $201 billion, according to the new Forbes 400 rankings.

Musk last year said he had relocated from California to Texas. That means he surpasses Walmart heiress Alice Walton, who was previously the state’s wealthiest person. Walton is a distant second to Musk in Texas, with an estimated net worth of $67.9 billion. Dell Technologies founder and Austin resident Michael Dell is No. 3 on the Texas list, with an estimated net worth of $50.1 billion, according to Forbes.



What is less clear is where exactly in Texas can be considered Musk’s primary city of resident. Forbes lists Austin as Musk’s city of residence, but the magazine did not say how it verified whether Musk is, in fact, an Austinite.  Musk himself has never publicly confirmed that he lives in Austin. In fact, he said in a June social media post

Tesla is currently building a $1.1 billion assembly facility in Travis County, and the company says it plans to livestream its annual shareholders meeting from that faciity this week.

If Musk really does live in Austin, he gives the city a total of seven billionaires among the Forbes 400.  In addition to Musk and Dell, the other Austinites on the list are:

  • Robert F. Smith, founder of private equity firm Vista Equity Partners; estimated net worth $6.7 billion
  • Bert “Tito” Beveridge, founder of Tito’s Vodka; estimated net worth $4.8 billion
  • Thai Lee, CEO of IT provider SHI International; estimated net worth $4 billion
  • Joe Liemandt, founder of ESW Capital; estimated net worth $3 billion
  • Jim Breyer, founder and CEO of Breyer Capital; estimated net worth $2.9 billion

Those seven are not the only billionaires living in Austin, however. The Forbes 400 is 400 wealthiest people in the United States, but there are more than 2,600 billionaires in the country, according to the magazine.



According to Forbes, other Austin residents who have a net worth of more than $1 billion are:

  • John Paul DeJoria, co-founder of hair care company John Paul Mitchell Systems and founder of tequila maker Patrón Spirits; estimated net worth $2.8 billion
  • David Booth, co-founder of Dimensional Fund Advisors; estimated net worth $1.8 billion
  • Whitney Wolfe Herd, founder of dating app company Bumble; estimated net worth $1.3 billion

No longer making Forbes’ list of billionaires is Austin resident Brian Sheth, co-founder and former president of Vista Equity Partners. Sheth, who left Vista Equity Partners last year, has an estimated net worth of $900 million, according to Forbes, down from a Forbes estimate of $2.3 billion in 2020.

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