2 NJ Billionaires Worth Combined $11.9B Make Exclusive Forbes 400

With a net worth of $908 billion, Elon Musk again tops the Forbes 400, a ranking of the nation’s wealthiest billionaires that includes Peter Kellogg, the richest person in New Jersey.

Forbes said Musk’s place at the top of its 45th annual Forbes 400 ranking shows “the wealth gap is widening, even among the ultra-rich.”

Those on the ranking, released Tuesday, are worth a record $8 trillion, up from $6.6 trillion a year ago. Together, the 20 richest billionaires account for $4 trillion of the total, up from $970 billion from last year.

“Elon Musk’s trillionaire moment was short-lived, but the wealth controlled by the top 20 is massive,” Forbes said.

Billionaires on the list from New Jersey are:

Peter Kellogg

Peter Kellogg joined Spear, Leeds & Kellogg, where his father was a partner, in 1973 and later took control, building it into the first specialist brokerage to handle more than 10% of NYSE-listed stocks before selling it to Goldman Sachs for $6.5 billion in cash and stock in 2000.

Kellogg then led reinsurer IAT as CEO until 2015, remains its chairman, and has donated more than $4 million to U.S. ski and snowboarding teams.

• Location: Short Hills, New Jersey
• Net Worth: $6.1 billion
• National Ranking: No. 277 on the Forbes list
• Age: 84

Catherine Commisso and family

Catherine Commisso owns Mediacom, the New York-based cable company founded by her husband, Rocco Commisso, who built it into America’s fifth-largest cable TV provider by focusing on smaller, underserved communities before his death in January 2026 at age 76.

She also owns the Italian Serie A soccer club Fiorentina.

• Location: Saddle River, New Jersey
• Net Worth: $5.8 billion
• National Ranking: No. 325 on the Forbes list
• Age: 68

Even with the list threshold rising to a record $4.4 billion — up from $3.8 billion in 2025 — strong financial growth allowed 34 newcomers to join it. Notably, a record 590 U.S. billionaires were “too poor to make the cut,” Forbes said.

Many of the 34 newcomers made their fortunes in artificial intelligence, including Cognition AI cofounder Steven Hao, six Anthropic cofounders and OpenAI cofounder Greg Brockman.

The AI sector has come under intense scrutiny in Congress this week as high-profile tech leaders push for federal safety regulations and a reduced pace of innovation. These warnings follow mounting concerns about existential risks posed by advanced AI systems, echoed in an essay by Anthropic CEO Dario Amodei and supported by xAI's Musk and OpenAI's Sam Altman.

The list includes 62 women, including 13 who are self-made. Alice Walton remains the richest American woman, while ABC Supply cofounder Diane Hendricks is the richest self-made woman.

Ten listees are younger than 40, up from four in 2025. The oldest is 97-year-old timber billionaire Archie Aldis Emmerson, and the average age is 70.

The top 10 billionaires are

1. Elon Musk, 55, $908 billion (SpaceX and Tesla)
2. Jeff Bezos, 62, $378 billion (Amazon)
3. Larry Page, 53, $278 billion (Google)
4. Michael Dell, 61, $263 billion (Dell Technologies)
5. Sergey Brin, 53, $256 billion (Google)
6. Mark Zuckerberg, 42, $212 billion (Facebook)
7. Larry Ellison, 82, $204 billion (Oracle)
8. Jensen Huang, 63, $199 billion (semiconductors)
9. Steve Ballmer, 70, $156 billion (Microsoft)
10. Warren Buffett, 96, $144 billion (Berkshire Hathaway)