The latest Forbes magazine column from publisher Rich Karlgaard identifies a “disruptive dozen” fields that are likely to produce most of the new entries over the next decade on the “Forbes 400” list of America’s wealthiest people. Among them: genomics, energy storage, and 3-D printing.
Before listing his 12 categories, though, Karlgaard takes aim at one high-profile billionaire who’s unlikely to take advantage of the economic changes.
Donald Trump’s wealth is trumped by 120 billionaires, most of whom (unlike Trump) started their companies from scratch. The growth of Trump’s wealth since 1985, his maiden solo year on The 400, has lagged the growth of the S&P 500. Trump may be a promotion genius, but he’s a lousy steward of capital.
At his present rate of relative decline Trump will be turfed out of The Forbes 400 during the next ten years. He likely won’t make it back, even if Trump, 69, were a younger man. The growth of his wealth can’t keep pace with the disruptive new sources of wealth.
The current extent of Trump’s wealth occupies a significant amount of space within the rest of the latest issue of Forbes. Chief Product Officer Lewis D’Vorkin documents Trump’s efforts to cajole Forbes into boosting its assessment of his wealth, and Randall Lane’s cover story asks “What’s Donald Trump Really Worth?”
