Forbes is out with its annual list of the world’s billionaires, and, of the 2,043 people who made the list, New Jersey can claim six as its very own.
The wealthiest billionaire in New Jersey, according to the list, is Donald Newhouse, who ranks 109th, with a net worth of $12.1 billion. The 87-year-old media mogul runs the newspaper portion of Advance Publications, owners of such entities as The Star-Ledger and NJ Advance Media.
Newhouse had a good year, as his net worth climbed from 2016’s figure of $9.3 billion and his place in the rankings rose from No. 116.
However, while New Jersey had four members of the Top 600 last year, the Garden State could claim only three in 2017.
Coming in at No. 339 was John Overdeck, co-founder of Two Sigma Investments, whose net worth was listed at $4.8 billion. The hedge fund giant moved up from a net worth of $3.1 billion and a ranking of No. 549 a year earlier.
The third Jerseyan in the Top 600 was Peter Kellogg, whose investment wealth came in at $3.5 billion, good for No. 544 on the list.
On the other hand, another hedge fund giant, Leon G. Cooperman of Omega Advisors Inc., saw his net worth slip to $3 billion, down from $3.2 billion in 2016. That was only good for the 660th spot on the list, down from last year’s ranking of 527th.
Some media reports last year indicated Cooperman has moved to Florida, but Forbes continues to list him as a Short Hills resident.
The other two billionaires who live in New Jersey are a pair of hedge fund kings: Larry Robbins of Glenview Capital Management, whose $2 billion net worth was good for No. 1,030 on the list; and Michael Price of MFP Investors Inc., whose $1.2 billion net worth ranked him No. 1,678.
Others with ties to New Jersey include David Tepper, formerly the wealthiest man in the state before he, too, moved to Florida, and Thai Lee, owner of Somerset-based SHI International.
Tepper’s net worth of $11 billion was good for No. 120 on the list; both marks are down from 2016.
Lee, who now resides in Texas, where SHI has a large presence, has a net worth of $1.6 billion, placing her in the No. 1,290 spot. Forbes listed her as one of 12 “notable new billionaires” for this year.
The Top 10 richest billionaires in the world included some familiar names (all are American, except where noted):
10. Michael Bloomberg, net worth of $47.5 billion;
8T. David Koch, $48.3 billion;
8T. Charles Koch, $48.3 billion;
7. Larry Ellison, $52.2 billion;
6. Carlos Slim Helu (Mexico), $54.5 billion;
5. Mark Zuckerberg, $56 billion;
4. Amancio Ortega (Spain), $71.3 billion;
3. Jeff Bezos, $72.8 billion;
2. Warren Buffett, $75.6 billion;
1. Bill Gates, $86 billion.
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