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America’s 400 richest people, despite the pandemic, have seen their wealth soar 40% in the past year to $ 4.5 trillion, according to the annual Forbes 400 list.
The top spots were taken by Jeff Bezos, Elon Musk and Bill Gates, and for the first time in 25 years, former President Donald Trump did not make the cut.
The net values were calculated on September 3 using stock prices and exchange rates from that date, Forbes said.
New Jersey is home to four of the richest Americans:
Rocco Commissio
Rocco Commisso, founder and CEO of cable company Mediacom, is New Jersey’s richest man. It’s worth $ 8.4 billion, Forbes said, up from $ 5.5 billion in 2020.
The 71-year-old billionaire, who lives in Saddle River, ranks 98th on the list.
Commisso immigrated from Italy in 1962 at the age of 12 and took up his first job playing the accordion during intermissions in movie theaters, Forbes said.
John overdeck
John Overdeck, co-founder of hedge fund firm Two Sigma Investments, arrived at No.147.
It’s worth $ 6.5 billion, the same as it was in 2020, Forbes said.
The Millburn resident, 51, whom Forbes calls a math prodigy, won a silver medal at the International Mathematical Olympics at the age of 16.
Peter Kellogg
Peter Kellogg, who sold brokerage firm Spear, Leeds & Kellogg to Goldman Sachs in 2000, comes in at No.300 with a net worth of $ 3.8 billion, up from $ 3 billion last year.
After the sale, Kellogg, 79, who lives in Short Hills, ran reinsurance firm IAT until 2015. He remains chairman, Forbes said.
Sheldon lavin
Highland Park’s Sheldon Lavin is worth $ 3 billion, which puts him at number 377 on the list.
Lavin owns meat processor OSI Group, which was McDonald’s first supplier of fresh burgers, Forbes said. The company has 65 factories in 17 countries on five continents, Forbes said.
Other people previously on the list included Donald Newhouse, homesteader of Advance, a company that has its roots in media and properties including NJ.com and The Star-Ledger. He now lives in New York City and ranks 40th with a net worth of $ 18.1 billion.
Hedge fund manager David Tepper, who moved from New Jersey to Florida, is worth $ 15.8 billion and is ranked 39th.
And former President Donald Trump, who lives in Florida but also spends time at his Bedminster Golf Club, is off the list for the first time in 25 years. Forbes said he had a place in the top half of the list from 1997 to 2016. When he became president he slipped every year for five years and for 2020 he is completely off the list.
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Karin Price Mueller can be contacted at [email protected].
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