According to a report by Forbes, there are currently 2,755 billionaires on Planet Earth. I am willing to bet all my money — which is several zeros less than a billion — that you are not one of them. There are, however, three people living in San Antonio who did make the list.
While there is a lot of focus on the men who top the list, Jeff Bezos and Elon Musk, I thought it was worth a quick look at the San Antonio billionaires.
San Antonio's Richest Resident
It should be no surprise that the wealthiest San Antonio resident is Christopher “Kit” Goldsbury. The president and CEO of San Antonio's Silver Ventures has a net worth of $1.7 billion. His wealth remained unchanged from 2020, yet he dropped down from 1267 to 1833 in the world. His wealth comes courtesy of the 1994 sale of his salsa maker business Pace Foods to Campbell Soup for $1.12 billion. Goldsbury now runs Silver Ventures, which was responsible for the development of the Pearl.
"I was raised in Mexico, so I had a lot of influence in that area, with the food, with the people, everything." Christopher Goldsbury
Red comes in second
The second richest San Antonio resident is Billy Joe (Red) McCombs. His wealth increased from $1.5 Billion to $1.6 Billion, yet he fell from 1513 in the world to 2035. The 93-year-old McCombs made his money from real estate, oil, cars, and sports At one stage; he had 55 auto dealerships across Texas; presently, he has 12.
He later went on to found Clear Channel Communications Inc., now known as iHeartMedia Inc., and owns the San Antonio Spurs and Denver Nuggets in the NBA and the Minnesota Vikings.
HIs real estate arm- McCombs Enterprises, owns large amounts of land across San Antonio and Texas.
Our third billionaire
The third San Antonio resident who is part of the Billionaires Club is James Leininger, age 76.
Known as "Doctor Jim," Leininger is worth $1.5 billion, which places him at 2035 globally, down from 1415 in 2020. Leininger made his fortune by founding the medical devices company Kinetics Concept International (KCI), which focuses on wound care. Private equity firm Apax Partners purchased KCI for a $6.3 billion acquisition in 2012, making a lot of money for Leininger, who was the largest. Leininger has since invested in Medicare Investment Funds, which manages $1 billion in assets.
In 2020 the rich got richer.
Despite 2020 being a terrible year for most people, the billionaires' wealth on the Forbes list increased from 8 trillion to 13.1 trillion. That’s a whopping 63%. In total, 86% of the people on this list are richer than they were this time last year. In addition, there was a new billionaire added every 17 hours — a total of 493 who didn't make the 2020 billionaires list.
The pandemic, in fact, created 40 new billionaires. Those whose companies made vaccines, such as Stephane Bancel, the CEO of Moderna, and Ugur Şahin, the CEO and co-founder of BioNTech — partner of Pfizer who joined the Billionaires list.
While San Antonio has three billionaires, it is a city outside the US that boasts the title of most billionaires. Beijing has more billionaires than any other city in the world, having overtaken New York City. Comparing San Antonio to other cities in Texas- Dallas has 27 billionaires, followed by Houston 17 and Austin with 10. Elon Musk, who is ranked two globally, is listed as a Texan thanks to moving his businesses to Texas last year.
Let's hope more people from San Antonio make the 2022 list!
Readers, have you met or worked for any of the billionaires on this list? Let us know in the comments below.