7 Long Islanders Make Forbes 400 List of Wealthiest Americans

Forbes has just released its annual list of the 400 wealthiest Americans and seven Long Islanders are among the elite group.

There are a total of 69 New Yorkers on the 2016 Forbes 400 list, where admission starts at $1.7 billion.

Business titan and former New York City Mayor Michael Bloomberg is tops on the New York list. He's worth $45 billion and checked in with a $6.4 billion increase from last year while he rose two spots on the overall list to sixth place.

Industrialist David Koch slipped to second-richest in the state. He came in at $42 billion in 2016 — a $1 billion increase from last year, but not enough to offset Bloomberg's rise. Koch also slipped two spots on the overall list. David Koch's brother, Charles (also $42 billion), is listed as a Kansas native on the list.

Investor George Soros ($24.9 billion), hedge-fund manager James Simons, the first Long Island resident on the list ($16.5 billion), and businessman Carl Icahn ($15.7 billion) round out the top 5 richest New Yorkers.

Here are the seven Long Island residents on the list with excerpts from Forbes:

No. 24- James Simons, $14 billion, East Setauket

The quantitative trading genius behind Renaissance Technologies retired from his $32 billion (assets) hedge fund firm in 2010, but continues to benefit from its strong performance. The firm's biggest fund, Renaissance Institutional Equities, was up 14% in the first half of 2016.

No. 61- Katharine Rayner and Margaretta Taylor, 7.2 billion, East Hampton

Katharine Rayner, Margaretta Taylor and their sibling, James Cox Chambers, are heirs to the Cox family fortune. Their grandfather, James M. Cox, founded what has become Cox Enterprises, an automotive and media conglomerate. The three siblings split the 50% stake they inherited their mother, Anne Cox Chambers, 96, in an asset shuffling that became public in 2015.

No. 124- Charles Dolan & family, $4.5 billion, Oyster Bay

Charles Dolan sold Cablevision in June 2016 for $17.7 billion in cash to Altice, a company controlled by French billionaire Patrick Drahi, and other investors. It was the crowning achievement for Dolan, who got his start cutting sports highlight reels for TV stations around his native Cleveland.

No. 174- Julian Robertson, Jr., $3.6 billion, Locust Valley

Julian Robertson joined Kidder Peabody as a stockbroker in 1957 after serving in the Navy. He founded Tiger Management in 1980, pioneering the then-budding hedge fund industry. Since he returned money to investors in 2000, he has been managing his own book and seeding several hedge funds started by his disciples, dubbed Tiger Cubs.

No. 239- Kenneth Langone, 2.9 billion, Sands Point

Investment banker Kenneth Langone was an early investor in Home Depot in 1978 with fellow billionaires Arthur Blank and Bernard Marcus and as a result is mentioned as a cofounder of the home improvement chain. He still has a stake in Home Depot but now invests in tech companies and industrial giants. After digging ditches for the Long Island Expressway as a teenager, Langone went to Bucknell and graduated with a degree in economics.

No. 374- Louis Bacon, $1.8 billion, Oyster Bay

Louis Bacon's Moore Capital continues to shrink amid weak performance by his macro-oriented hedge funds. In July he fired portfolio manager Brett Barna for hosting a wild Hamptons party in which he was accused of trashing a $20 million mansion. Barna told CNBC the party was "good, clean fun" and that he didn't trash the house.

See the full Forbes 400 list here.

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