Business & Tech

Meet New Jersey's 6 Billionaires In 2017

Forbes' 2017 list features a record-number of billionaires, including New Jersey's 10-figure earners.

Six New Jersey billionaires have made Forbes list of the richest people around the United States.

These New Jersey residents are included in the 2017 list of billionaires, which features a record 2,043 people.

Donald Newhouse, who, along with his brother Samuel, owns Advance Publications, a media company that publishes The Star-Ledger, tops the list at $12.1 billion.

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"It was a record year for the richest people on earth, as the number of billionaires jumped 13 percent to 2,043 from 1,810 last year, the first time ever that Forbes has pinned down more than 2,000 ten-figure-fortunes," according to Forbes. "Their total net worth rose by 18% to $7.67 trillion, also a record. The change in the number of billionaires — up 233 since the 2016 list — was the biggest in the 31 years that Forbes has been tracking billionaires globally."

Here's the breakdown, according to Forbes.

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  • No. 109 Donald Newhouse, 87, Somerset County, $12.1 billion, media: "Donald Newhouse and his brother Samuel 'Si' Newhouse—heirs to the multimillion-dollar publishing and broadcasting empire Advance Publications—took over for their father Sam upon his death in 1979."
  • No. 339 John Overdeck, 47, Millburn, $4.8 billion, hedge funds: "The co-founder of Two Sigma Investments, John Overdeck has built a quantitative trading powerhouse that is the fastest growing hedge fund in the business."
  • No. 544 Peter Kellogg, 74, Short Hills, $3.5 billion, investments: "Peter Kellogg joined his father, James Kellogg, at the older Kellogg's brokerage house Spear, Leeds & Kellogg in 1973 and took over several years later."
  • No. 660 Leon G. Cooperman, 73, Short Hills, $3 billion, hedge funds: "Leon Cooperman, a Wall Street legend, is currently going through a difficult time. In September 2016 the Securities & Exchange Commission charged Cooperman and his Omega Advisors hedge fund firm with insider trading."
  • No. 1030 Larry Robbins, 47, Alpine, $2 billion, hedge funds: "Larry Robbins, founder of hedge fund firm Glenview Capital Management, is known for both his hot streaks and his cold streaks. Robbins' has recently been dealing with a chilly stretch."
  • No. 1678 Michael Price, 64, Far Hills, $1.2 billion, investments: "Michael Price runs MFP Investors, a New York-based hedge fund that holds stakes in Intel, Hess Corp. and Du Pont. He started his career in finance in 1975 as a research assistant at Heine Securities."

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