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Three New Jersey residents were named to the “Forbes” list of America’s 400 richest people.
The country’s richest citizens have seen their collective fortunes increase by 40% in the past year to $ 4.5 trillion, despite the ongoing COVID-19 pandemic, said Forbes.
Former President Donald Trump was taken off the list for the first time in 25 years, with Jeff Bezos, Elon Musk, Mark Zuckerberg, Bill Gates and Larry Page taking the top five spots.
To be on the list, you must have a net worth of at least $ 2.9 billion and an increase of $ 800 million from the previous year.
Net holdings were calculated on September 3 using stock prices and exchange rates.
The New Jerseyans who made the list are:
98. Rocco Commissio, 71, is the founder and CEO of Chester, New York-based cable company Mediacom.
The Saddle River resident is the richest man in New Jersey. It’s worth $ 8.4 billion, Forbes said.
Commisso immigrated from Italy to the United States at the age of 12. His first job was to play the accordion during intermissions in the cinema.
147. John Overdeck, 51, is the co-founder of Two Sigma, a quantitative trading powerhouse with $ 60 billion under management.
The Millburn resident is worth $ 6.5 billion.
Overdeck was a math prodigy who won a silver medal at the International Mathematical Olympics at 16, Forbes said.
300. Peter Kellogg, 79, sold brokerage house Spear, Leeds & Kellogg to Goldman Sachs for $ 6.5 billion in cash and stock in 2000.
The Short Hills resident is worth $ 3.8 billion.
Kellogg joined the firm, where his father was a partner, in 1973 and took over several years later, Forbes said.
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