5 NJ Billionaires On Forbes List Of Richest Americans

Five New Jersey residents possess nearly $20 billion among them, and they have a share of the staggering $2.9 trillion in wealth owned by 400 Americans.

They join Amazon founder and CEO Jeff Bezos and many others who found themselves at the top of yet another list of billionaires, this time the Forbes 400 list of wealthiest Americans. The list released Wednesday puts Bezos ahead of his Washington-area neighbor, Bill Gates, who had been at the top since 1994.

Bezos was also at the top of Forbes’ billionaires list, which was released in March. He dethroned Gates on that list as well.

The 400 richest Americans have a massive amount of wealth. According to Forbes, the minimum net worth needed to join the list in 2018 was $2.1 billion, the highest amount ever for admission. In all, Forbes says the net worth of the 400 was a record high of $2.9 trillion and half of that belongs to just the 45 richest people in the country.

In New Jersey, five residents made it to the elite club. According to Forbes, the New Jersey residents on the list are:

• #118: John Overdeck of Millburn, net worth of $5.5 billion (Two Sigma Investments)
• #200: Rocco Commisso of Saddle River, net worth of $3.8 billion (CEO of cable company Mediacom)
• #200: Peter Kellogg of Short Hills, net worth of $3.8 billion (formerly with Spear, Leeds & Kellogg)
• #239: Leon G. Cooperman of Short Hills, net worth of $3.3 billion (Goldman Sachs, Omega Advisors)
• #354: Larry Robbins of Alpine, net worth of $2.3 billion (Glenview Capital Management)

Some other notable points from Forbes’ reporting:

• 57 women were on the list
• Those with self-made fortunes vastly outnumber those with inherited wealth
• President Donald Trump dropped 11 spots on the list compared to 2017, coming in at No. 259; see the New York Times account of how Trump accumulated his wealth, which differs significantly from the president’s account.

Forbes’ takes a hard and thorough look at the wealth of those on the list to figure out just how much they’re worth. Reporters at Forbes conduct interviews, look over documents, assets and factor in debt in their calculations. (You can see a more detailed methodology here.)

The top 10 billionaires on the list are:

• Jeff Bezos (Amazon)
• Bill Gates (Microsoft)
• Warren Buffett (Berkshire Hathaway)
• Mark Zuckerberg (Facebook)
• Larry Ellison (software)
• Larry Page (Google)
• Charles Koch (Koch Industries)
• David Koch (Koch Industries)
• Sergey Brin (Google)
• Michael Bloomberg (Bloomberg LP)

>>>You can see the full list here.
>>>Click here to see Forbes’ full report on the list.

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