49°
For the first time since 1994, Bill Gates has not claimed the No. 1 spot on Forbes' list of 400 richest Americans: That goes to Amazon.com founder and CEO Jeff Bezos -- clocking in at $160 billion.
Additionally, Donald Trump has dropped 11 places from last year. With a net worth of $3.1 billion, Trump is now the 259th-richest person in the 2018 Forbes 400. He was 248th in the 2017 Forbes 400 when his net worth fell from $3.7 billion when he was in 156th place in 2016 and down from $4.5 billion in 2015.
Here's how New Jersey stacks up:
- No. 118: John Overdeck of Millburn with a net worth of $5.5 billion: The co-founder of Two Sigma Investments, a quantitative trading powerhouse with $54 billion under management.
- No. 200: Rocco Commisso of Saddle River with a net worth of $3.8 billion: The founder and CEO of cable company Mediacom, based in Chester, New York. He previously worked as CFO at Cablevision Industries, which was acquired by Time Warner in 1995.
- No. 200: Peter Kellogg of Short Hill with a net worth of $3.8 billion: Kellogg sold brokerage house Spear, Leeds & Kellogg to Goldman Sachs for $6.5 billion in cash and stock in 2000. He joined the firm, where his father was a partner, in 1973 and took over several years later.
- No. 239: Leon G. Cooperman of Short Hills with a net worth of $3.3 billion: A Wall Street legend, Cooperman built up Goldman Sachs' asset management division, GSAM, in his quarter century with the investment bank. He founded Omega Advisors in 1991, a hedge fund known for strong performance; he is shutting down the fund at the end of 2018.
- No. 354: Larry Robbins of Alpine with a net worth of $2.3 billion: Robbins is founder and CEO of Glenview Capital Management, a New York hedge fund that oversees over $8 billion in assets. Robbins is known for his hot and cold streaks. He posted double-digit returns in 2017 after losing money the previous two years.
Click here to follow Daily Voice Pascack Valley and receive free news updates.
