Southport Resident Among Forbes 'Billionaires'

Southport resident Robert Citrone, co-founder of the 17-year-old hedge fund Discovery Capital Management, is listed among the world's wealthiest individuals, according to Forbes magazine.

Citrone's net worth is $1 billion, which placed him at #1,694 on the list. An improvement over his position from #1,741 in 2015, but his company struggled a bit last year, Forbes writes.

"[Citrone's] hedge funds tend to make macro bets and invest in emerging markets, but they have disappointed in recent years and 2015 was no exception," according to Forbes. "Both his hedge funds lost money in 2015. His Discovery Global Opportunity fund was down 0.6 percent in 2015. The smaller Discovery Global Macro fund finished the year down 5.8 percent."

The magazine lists 13 billionaires in Connecticut, eight of whom live in Greenwich.

According to Forbes, “For our 30th annual guide to the world’s richest, we found 1,810 billionaires, down from a record 1,826 a year ago. Their aggregate net worth was $6.48 trillion, $570 billion less than last year. It was also the first time since 2010 that the average net worth of a billionaire dropped – it is now $3.6 billion, $300 million less than last year.”

Click here to view the complete list of billionaires on the Forbes website.

Photo: Robert Citrone. Photo credit: Forbes magazine

Patch Editor Barbara Heins contributed to this report.